Electric Motorcycle Market to Grow with a CAGR of 19.36% until 2026
Concerns
toward environment depletion is driving the growth of the global electric
motorcycle market, in the forecast period, 2022-2026F.
According
to TechSci report on, “Electric Motorcycle Market - Global Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2016-2026”. Global
electric motorcycle market is anticipated to grow with a CAGR of 19.36% in the
forecast years, 2022-2026, to reach USD6220.82 million by 2026. The market was
valued at USD1930.64 million in 2020, and this growth can be attributed to the
rapidly increasing demand for environment-friendly automobiles among the global
population. Due to the recent pandemic situation, consumers were highly
inclined toward personal vehicle possession. Consumers are actively adapting
personal vehicles in cost-effective range and with the advantage of environment
friendly vehicles thus preferring electric motorcycle and supporting the growth
of the global electric motorcycle market in the next five years. Rising
concerns toward carbon emission, worsening climatic conditions, and increasing
green energy applications further drive the growth of the global electric
motorcycle market in the upcoming five years. Moreover, increasing demands from
the e-commerce industry for delivery personnel, faster delivery services,
enhancing customer-delivery services further substantiate the growth of the
global electric motorcycle market in the future five years. Rising fuel costs
also influence consumer preferences toward electric motorcycles and aid the
growth of the global electric motorcycle market in the forecast years until
2026. Prices of crude oil increased by 70% in the past year and a further
increase in the crude oil prices post COVID-19 further drives the growth of the
market. Governmental support through favorable schemes, financial support to
the electric automobile manufacturers, along with promotions regarding
environmental crises further drive the growth of the global electric motorcycle
market in the forecast period.
With
increasing globalization, e-commerce giants are expanding their operations in
wider geographies, and their need for on-time delivery further builds a
positive scope for the increasing demand for electric vehicles and thus aids
the growth of the global electric motorcycle market in the forecast years until
2026.
Browse over 134 market data Figures
and 1 market data Table spread through 220
Pages and an in-depth TOC on "Global Electric Motorcycle Market"
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The
global electric motorcycle market is segmented by type, range, battery
capacity, battery type, regional distribution, and competitive analysis. Based
on range, the market is further bifurcated into less than 50 km, 50–100 km,
101–150 km, and above 150 km. 101-150 km range products are anticipated to hold
the largest revenue shares of the market and dominate the market segment in the
upcoming five years on account of the increasing dependency of the consumers on
electric motorcycles to travel on a regular basis and daily utilities
requirements. Also, charging the electric vehicles is a challenge, therefore
the consumers prefer a longer distance range of electric vehicles such that
charging is affordable as well as efficient for at least daily usage, thus driving
the growth of the sub-segment along with the growth of the global electric
motorcycle market in the next five years. Above 150km range electric
motorcycles are also preferred by the consumers and register significant growth
in the future five years due to rising disposable income among the population
and increasing demands for electric vehicles. An increasing number of charging
infrastructure would further aid the growth of the global electric motorcycle
market.
A
partial list of major market players of the global electric motorcycle market
includes :
- Zero Motorcycles, Inc
- Kwang Wang Yang Motor Company, Limited
- Hero Electric Vehicles Pvt. Ltd.
- Energica Motor Company S.p.A
- Terra Motors Corporation
- Harley-Davidson, Inc., H-D
- ARC Vehicles Ltd
- Damon Motors Inc
- Lightning Motorcycle Corp.
- Johammer e-mobility GmbH
- VMOTO LIMITED
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“The regional analysis of the market is conducted between Asia Pacific,
Europe, America region along with rest of the world considered separately. Asia
Pacific region is expected to dominate the segment analysis in the upcoming
five years on account of increasing usage of electric motorcycles in countries
like China, India, Thailand, etc. China holds the largest revenue shares of the
market in the Asia Pacific region since it is the largest producer of the
electric motorcycles. The growth in the country is building rapidly over
government support and involvement toward developing electric motorcycles. E-commerce
industry is also expanding in the region. With presence of global giants in the
industry in the region that are entering and exploiting the minor economies
like Thailand, Vietnam, etc. are also substantiating the future growth of the
global electric motorcycle market in the next five years,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Electric Motorcycle Market - Global Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented
By Type (Standard, Cruiser, Sports), By Range (Less than
50 Km, 50–100 Km, 101–150 Km, Above 150 Km), By Battery Capacity (<25 Ah and
>25 Ah), By Battery Type (Lead Acid and Li-ion), By Region” has evaluated the future growth potential of global electric
motorcycle market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global electric motorcycle market.
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