Global Electric Motorcycle Market Size, Share, Growth Analysis, By Type(E-scooters and E-motorcycles), By Battery(Lithium-ion (Li-ion) and Lead-acid) - Industry Forecast 2023-2030

Global Electric Motorcycle Market size was valued at USD 34.9 billion in 2021 and is poised to grow from USD 35.63 billion in 2022 to USD 121.08 billion by 2030, growing at a CAGR of 19.1% during the forecast period (2023-2030).

The escalating concern regarding greenhouse gas emissions has spurred a consensus on the necessity for eco-friendly transportation solutions, propelling the growth of the electric motorcycle industry. Governments in key regions like Asia Pacific, North America, and Europe have implemented favorable tax incentives and purchasing incentives, providing additional impetus to market expansion. The continual advancement of battery technology and the integration of electric motorcycles into delivery fleets and mobility services present further opportunities for market adoption. Despite these positive factors, the electric motorcycle market faces challenges that require addressing, including underdeveloped charging infrastructure, range anxiety among potential customers, and the relatively high cost of electric vehicles. However, the commercial sector, especially in logistics and food delivery, is emerging as a promising avenue for the electric motorcycle industry. Notably, in Latin America and Africa, food delivery platforms have collaborated with electric mobility startups to incorporate electric motorcycles into their operations. A case in point is the partnership between the Brazilian food delivery platform iFood and Voltz Motor to develop the EVS Motor iFood electric motorcycle, offering substantial cost savings and covering distances of 100 to 180 kilometers with two battery packs. The Asia Pacific region is anticipated to witness the highest growth rate in the electric motorcycle market, driven by government initiatives supporting electric mobility, surging fuel costs, and the adoption of electric motorcycles by e-commerce and food delivery platforms. Additionally, the rising disposable income in densely populated countries such as Indonesia, India, China, and Vietnam is expected to further stimulate demand for electric motorcycles in the region. Major players in the electric motorcycle industry are proactively introducing new models with enhanced features like increased battery capacity, advanced displays, Bluetooth connectivity, and connected vehicle technology. These companies aim to promote the adoption and sales of electric motorcycles, contributing to overall market growth. To fortify their market presence and broaden their product portfolios, leading industry players are leveraging organic and inorganic growth strategies, including the launch of new products, mergers, acquisitions, and partnerships. For instance, Pure EV, an Indian electric two-wheeler OEM, recently unveiled its eco Dryft electric motorcycle, featuring a 3.0 kWh battery, smart battery management system, Bluetooth connectivity, and a digital instrument cluster. Manufactured at the company's Hyderabad-based facility, the motorcycle offers a range of 130 km and a top speed of 75 mph.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electric Motorcycle Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Electric Motorcycle Market Segmental Analysis

Global Electric Motorcycle Market is segmented by type, battery, and region. Based on type, the market can be segmented into E-scooters, E-motorcycles. Based on battery, the market is segmented into Lithium-ion (Li-ion), and Lead-acid. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Market Dynamic

Drivers

Concern regarding environmental sustainability

A key driver for the global electric motorcycle market is the increasing awareness and concern regarding environmental sustainability. The growing consensus on the impact of greenhouse gas emissions and air pollution has led to a rising demand for cleaner and greener transportation options. Electric motorcycles offer a sustainable alternative to traditional gasoline-powered bikes, emitting zero or significantly reduced emissions. This environmental consciousness among consumers, coupled with supportive government policies and incentives, is driving the adoption and growth of electric motorcycles worldwide.

Unused charging infrastructure

However, a major restraint facing the global electric motorcycle market is the underdeveloped charging infrastructure. The availability of convenient and widespread charging stations is crucial for the widespread adoption of electric motorcycles. Limited charging infrastructure creates range anxiety among potential customers, as they may be concerned about running out of battery power during their journeys. Without a well-established network of charging stations, the practicality and convenience of electric motorcycles may be hindered, posing a challenge for market growth. Addressing this issue by expanding the charging infrastructure is essential to overcome this restraint.

Market Trends

A notable market trend in the global electric motorcycle industry is the incorporation of advanced technology features. Manufacturers are integrating features like connected vehicle technology, Bluetooth connectivity, smart battery management systems, and advanced displays into their electric motorcycle models. These technological enhancements not only improve the overall user experience but also enable real-time data monitoring, enhancing the performance and efficiency of electric motorcycles. Moreover, the integration of these features aligns electric motorcycles with the increasing demand for connected and smart mobility solutions, meeting the evolving preferences of consumers who seek a seamless and technologically advanced riding experience.