Bangalore, July 28, 2022 (GLOBE NEWSWIRE) -- Report summary
The rapid acceleration in the growth rate of the electric motorcycle market can be attributed to developing countries' environmental concerns as well as an increase in crude oil prices around the world.
Europe is the fastest growing electric motorcycle market worldwide but Asia market size is significantly bigger.
Vietnam is the biggest market for electric two wheelers in the ASEAN region at present but scooters and mopeds account for a large share.
Although motorcycles occupy 72% share in the overall 2 wheelers sales in India, the same is not applicable in the E-2 wheeler segment, where the share of electric motorcycles is much lesser.
Post COVID there has been a massive surge in E-bike and Bicycle market worldwide and the electric motorcycle market has also benefited immensely from it.
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Key Takeaway
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- Less than 4 kWh battery capacity segment will continue to drive the Global Electric Motorcycle market as they account for more than 90% of the overall market volume.
- The share of less than $2.5K priced electric motorcycles is expected to grow from ~74% in 2021 to ~84% in 2027 in terms of volume with a growth rate of 360% from 2021-2027
- India is expected to grow market volumes at a faster rate than other regions, since the majority of electric motorcycle start-ups (about 15-20) aim to launch their models between 2023 and 2025
Market Trends and opportunities
- Li-ion battery type electric motorcycles are showing fastest growth in the sector, because of their low weight, and high energy storage as compared to other battery types
- Southeast Asian countries( Indonesia, Vietnam and Thailand) have a larger pie in the global 2-wheeler market. The EV revolution has just started here. EV motorcycle entrants with their quality products and innovative technology can address this market.
- Various governments are promoting startups by focusing on development of battery technology (to increase the range and performance of vehicles) as government and private players are trying to promote and advertise the advantage of using electric Motorcycles
- Many Chinese Electric motorcycle manufacturers are trying to grow their presence in the European & American markets, by launching the high valued products priced in $8,000-$10,000 range
Competitive Landscape
- The global electric motorcycle market is fragmented and dominated by players such as Zhejiang Luyuan, Dongguan Tailing, Huaihai New Energy, Revolt and Zero Motorcycles
- The top 3 Chinese players are primarily active in China and some ASEAN countries
- In Thailand, Vietnam and Latin America various electric motorcycle models have been showcased but not launched yet.
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Market Segmentation
By Geography
- US
- Europe
- China
- India
- ASEAN
- Row
By Battery Capacity
- <4.5 kWh
- >4.5 kWh
By Price
- <$2.5k
- >$2.5k
By Range
- Less than 150Km
- More than 150Km
Related Reports
Europe Electric scooter market
Global Electric scooter market
COMPANIES PROFILED
- Zero Motorcycles Inc.
- Johammer e-mobility GmbH
- Hero Electric
- Harley Davidson
- Mahindra GenZe
- TVS
- Energica Motor Company S.p.A.
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