The size of premium electric motorcycle market was registered at USD 180 million in the year 2018 and is anticipated to cross USD 7 Bn by 2026. Between the period 2019-2026, the market is expected to register a CAGR of 60%, as per the research by Global Market Insights Inc.
Soaring concern pertaining to carbon emission has bolstered premium electric motorcycle market share as auto sector witnesses an influx of premium electric motorcycle manufacturers. Leading companies sharpening their strategies for premium bikes have been attributed to premium motorcycles’ features such as maximum torque, improved speed, highest travelling range and aesthetic appeal.
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Inevitable inclination towards sports electric motorcycles has instilled confidence among manufacturers of premium electric motorcycles. Apparently, industry players are providing electric sport motorcycles having the acceleration of up to 0-100km/h in 3.2 seconds with a maximum speed of up to 200 km/h. Moreover, notable uptick in the number of racing events has come in the wake of maximum efficiency and higher speed attributed to sports electric motorcycles.
10-15 kWh battery capacity will be highly sought-after for urban use as premium electric motorcycles tend to have lower battery capacities along with lower range offerings. In a bid to enable riders to replace the batteries any time keeping the hassle of recharging the previous batteries instantly at bay, prominent companies are integrating swappable batteries into low capacity batteries.
North America premium electric motorcycle share will witness an uptick against the backdrop of robust government initiatives to reduce pollution. For instance, the U.S. government is emphasizing deployment of a large number of charging stations to augment the production of electric motorcycles in the country. Moreover, increase in discretionary income is said to augur well for the expansion of North America premium electric motorcycle market size.
Governments and leading companies appear to boost premium electric motorcycle industry share with the former doling out subsidy to propel the expansion of EVs. Governments have been providing income tax deduction on interest paid on loans and exempting tax on the purchase of EVs. In a landmark move to change consumer behavior favoring EVs, the Government of India slashed GST rate on electric vehicles to 5% from 12% effective from August 1st, 2019.
Niti Aayog, Government of India’s think tank, contemplates transition for motorcycle less than 150 cc to e-mobility by 2025. As such, APAC premium electric motorcycle market size will continue to thrive in the next half a decade.
Electric motorcycle makers are upping their strategies for premium bikes as they place emphasis on offering technologically sophisticated products to spur rider’s experience. Some of the state-of-the-art technologies include AI, fast charging and battery management systems. Some of the prominent companies profiled in the report are KTM Sportmotorcycle GmbH, Harley Davidson, Evoke Motorcycles, Arc Vehicle Ltd, Zero Motorcycles, and Hadin Motorcycles, Emflux Motors and Lightening Motorcycles, among several others.
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Some Point from Table of Contents:
Chapter 4. Premium Electric Motorcycle Market, By Product (Revenue & Shipment)
4.1. Key trends by product
4.2.1. Market estimates and forecast, 2015 – 2026
4.3.1. Market estimates and forecast, 2015 – 2026
4.4.1. Market estimates and forecast, 2015 – 2026
Chapter 5. Premium Electric Motorcycle Market, By Battery Capacity (Revenue & Shipment)
5.1. Key trends by battery capacity
5.2. Below 10 kWh
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. 10 – 15 kWh
5.3.1. Market estimates and forecast, 2015 – 2026
5.4. 15 – 20 kWh
5.4.1. Market estimates and forecast, 2015 – 2026
5.5. Above 21 kWh
5.5.1. Market estimates and forecast, 2015 – 2026
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