New York, US, May 02, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Electric motorcycles Market Research Report Information by Voltage, End-Use, Region, Battery Type, and Vehicle Range - Forecast Till 2030”, the global electric motorcycles market is predicted to bolter substantially during the assessment timeframe from 2022 to 2030 at a healthy growth rate of approximately 11.90%. The reports further project the market to attain a valuation of around USD 17.21 billion by the end of 2030. As per the reports, the electric motorcycle market was worth nearly USD 7.00 billion in the year 2021.
Electric Motorcycles Market Overview:
The Electric motorcycles market has recently displayed massive development. The main aspect causing a surge in the performance of the market is the growing interest in manufacturing infrastructure, along with the decline in the costs of battery manufacturing.
Competitive Analysis
The listing of the prominent leaders across the Electric motorcycles market includes players such as:
- Energica Motor Company S.p.A. (Italy)
- Blacksmith Electric (India)
- Torkmotors (India)
- Electric Motion (France)
- Revolt Motors (India)
- Johammer e-mobility GmbH (Germany)
- LITO MOTORCYCLES (France)
- Husqvarna Motorcycles GmbH (Austria)
- TACITA SRL (Italy)
- Essence Motorcycles (France)
- Bell Custom Cycles (BCC) (US)
- Zero Motorcycles Inc. (US)
- Harley-Davidson Inc. (US)
- Razor USA LLC. (US)
- Alta Motors (US)
- Hero Eco
- Honda Motors
- Mahindra GenZe
- Among others.
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Electric Motorcycle Market USP Covered
Market Drivers
The Electric motorcycles market has recently displayed massive development. The main aspect causing a surge in the performance of the market is the growing interest in manufacturing infrastructure, along with the decline in the costs of battery manufacturing. Furthermore, growing awareness of the dangers associated with operating fossil fuel-powered vehicles, rising government initiatives toward electric mobility, and significant control over crude oil prices will likely enhance market performance over the coming years.
Market Restraints
On the other hand, certain aspects may impede the market's growth. The primary parameter restricting the market's growth is the lack of awareness regarding the benefits of these motorcycles. Furthermore, the high initial cost is also predicted to hamper the performance of the market.
Electric Motorcycle Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 17.21 billion |
| CAGR during 2022-2030 | 11.90% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vehicle Range, Battery Type, Voltage, and Region |
| Key Market Opportunities | Developing commercial sectors globally |
| Key Market Dynamics | Increasing interest in manufacturing infrastructure involving vehicle charging The decline in the costs of battery manufacturing, preservation, and spread |
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COVID-19 Impact
Global industrial activities and business operations experienced a major setback given to the rise of the global health crisis in the form of COVID-19. The pandemic affected public health across nearly 225 countries, along with all industrial operations. All these situations led to the imposition of full or partial lockdowns across most regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of most industrial operations, the Electric motorcycles market experienced many sudden & unexpected issues throughout the pandemic. On the contrary, now that the majority of the globe is being rapidly vaccinated and industrial operations are returning to normal, the market is predicted to witness a considerable expansion and recovery in revenue generation over the assessment period.
Electric Motorcycle Market Segment Analysis
Among all the vehicle ranges, the above 100 miles segment secured the top position across the global electric motorcycle market in 2021. An electric motorcycle with over 130 miles (210 km) has a brilliantly long range. Consequently, as electric vehicles perform admirably with daily travelers covering a fixed roundtrip route, passengers encounter restricting range anxiety when driving on open roads.
Among all the battery types, the lead-acid segment secured the top spot across the global electric motorcycle market in 2021. Competing lead-based batteries with other battery types, they are more efficient. These batteries are also known as maintenance-free as they are easy to maintain and recharge. Lead-based batteries are available in several forms, dimensions, amperages, and voltages. As they commonly do not enable liquid addition or loss, these batteries are usually sealed, positively impacting the market development.
Among all the voltage ranges, the above 60 volts segment secured the top position across the global electric motorcycles market in 2021. The type of battery is installed in vintage electric motorcycles as they require a large capacity and a long travel range.
Electric Motorcycle Market Regional Analysis
The global electric motorcycles market is analyzed across five major geographies: South America, the APAC region, the Middle East & Africa, the European nations, and North America.
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The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global electric motorcycles market in 2021, with the largest contribution of approximately USD 3.05 billion. The regional market is anticipated to grow substantially over the coming years as the prime leaders across the region are highly investing in electric vehicles by generating cutting-edge electric infrastructure to boost the acceptance of such vehicles.
The North American regional market for electric motorcycles is anticipated to secure the second position across the global market over the coming years. The stringent pollution restrictions and the rising number of EV manufacturers are considered crucial parameters supporting regional market development. The enhanced infrastructure for the electric motorcycle in countries such as the USA and Canada is also likely to positively impact the regional market's development over the assessment period. Further, the US electric motorcycle market secured the top spot across the region, followed by Canada.
The European regional market for electric motorcycles is anticipated to expand considerably over the assessment period. The EU is operating together to lower rising air pollution levels, which is believed to be the main reason behind the rapid growth of the regional market. The government's ongoing efforts to lower gas emissions will likely boost the regional market's performance over the coming years.
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