Pune, India, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The global electric motorcycle market size is set to expand due to the introduction of fast-charging stations across the world. The increasing concerns regarding carbon emission and oil depletion are driving the market growth. Fortune Business Insights presents this information in its report titled “Electric Motorcycle Market, 2022-2029."
An electric motorcycle is an electric two-wheeled vehicle. In this vehicle, electricity is stored on-board in a rechargeable battery. Electric motorcycle helps to protect against environmental concerns. It has better acceleration, compact size, and high-speed handling efficiency.
Drivers & Restraints-
Growing Environmental Concerns to Boost Market Growth
Electric motorcycle market growth is attributed to the introduction of fast-charging infrastructure. The increasing concerns regarding carbon emissions and oil depletion are accelerating the market growth worldwide.
On the contrary, the higher initial cost of electric scooters and limited battery capacity could limit their adoption slgithly.
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Regional Insights-
Increasing Concern about Depleting Oil Reserves in North America to Drive Market Share
Electric motorcycle market share is expected to be dominated by North America due to the increasing concerns about depleting oil reserves.
Europe holds the second-largest market share due to the enhanced infrastructure for electric vehicles. The rapid adoption of electric vehicles accelerates the market growth in this region.
Meanwhile in Asia Pacific, increasing concerns regarding high carbon emissions from the large two-wheeler population in countries such as China and India are expected to accelerate market growth.
COVID-19 Impact:
Lockdown Restrictions Impacted Market Growth Significantly
The COVID-19 pandemic and subsequent restrictions such as lockdowns and travel bans affected the production and demand for all types of Electric Vehicles (EVs). The global automotive industry faced a major slowdown, with widespread demand and supply gaps owing to supply chain disruptions and workforce shrotages. These factors affected electric motorcycle market growth significantly.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/electric-motorcycle-market-105926
Report Coverage-
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Industry developments:
- April 2022 – ONYX motorbikes in California launched a new low–cost electric bike known as the ONYX CTY2.
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Competitive Landscape-
Market Players Focus on New Product Launches to Expand their Presence
Leading players in the market are adopting various strategies to expand their presence. These include R&D investments and the launch of the new, technologically advanced electric motorcycles. Some companies are also adopting partnerships, mergers, and acquisitions to strengthen their market position.
A list of prominent solid oxide fuel cell manufacturers operating in the global market:
- Harley-Davidson, Inc. (U.S.)
- LITO Motorcycles (U.S.)
- Essence Motorcycles (France)
- TACITA SRL (Italy)
- Alta Motors (U.S.)
- Yadea (China)
- Lima (Zhejiang)
- TAILG (U.S.)
- LVyuan (U.S.)
- Sunra (China)
- AIMA (India)
- BYVIN (China)
- HONG ER DA (China)
- Slane (U.S.)
- Lvjia (China)
- Xiaodao Ebike (China)
- Wuyang Honda (China)
- OPai Electric (China)
- Sykee (U.S.)
- Supaq (U.S.)
- Zongshen Electric Motorcycle (China)
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Global Cable Laying Vessel Market Segmentation:
By Vehicle Range
- 75 miles.
- 75-100 miles.
- More than 100 miles.
By Battery Type
- Lead Acid.
- Lithium-Ion (Li-ion)
- Nickel-metal hydride (NiMH)
By Voltage Type
- Below 24 Volt.
- 24-48 Volt.
- 48-60 Volt.
- Above 60 Volt.
By Geography
- North America (USA, Canada, and Mexico)
- Europe (Germany, France, U.K., and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Rest of the World
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