New York, Jan. 08, 2024 (GLOBE NEWSWIRE) -- In a recent Technavio report titled Electric Motorcycle Market, it is projected that the market size will grow at a rapid pace in the coming years.
What is the projected size of the Electric Motorcycle Market in the next five years?
The market size is set to grow by USD 109.78 billion between 2022 and 2027 and register a CAGR of 24.05%. According to Technavio, APAC is estimated to contribute 34% to the growth of the global market. Buy the full report
What is the factor that drives the Electric Motorcycle Market growth?
The rise in e-motorcycle demand drives electric motorcycle market growth, driven by several factors. Electric Motorcycle Manufacturers respond to stringent Emission Regulations, aligning with Consumer Preferences for eco-friendly options. Innovations in Vehicle Connectivity enhance rider experience, while lighter Vehicle Weight improves top speed and acceleration. Moreover, these motorcycles contribute to Noise Pollution Reduction, shaping a quieter and smoother riding experience, further enhancing the overall Rider Experience.
How is the Electric Motorcycle Market segmented by region?
APAC is establishing itself as a prominent participant in the worldwide electric motorcycle market due to swift population expansion and rising urbanization, notably boosting the demand for two-wheeled transportation. Moreover, governmental initiatives to endorse electric vehicles and mitigate air pollution have expedited the uptake of electric motorcycles in the region. Download the sample report here
What are the emerging trends of the Electric Motorcycle Market?
The integration of Smart Features and IoT in electric motorcycle charging stations marks a prominent trend in the e-motorcycle market. This advancement optimizes Charging Infrastructure through load management, leveraging technology for efficient Battery Technology and Regenerative Braking. It extends Range Per Charge, augments Motor Efficiency, and complements Government Incentives for EVs. Furthermore, this trend emphasizes the importance of Design, Safety Features, and Electric Vehicle (EV) Batteries, enhancing Motorcycle Charging Stations for a futuristic and reliable charging experience.
What are the challenges faced by the Electric Motorcycle Market?
The substantial cost of electric motorcycles poses a challenge, potentially limiting Market Penetration. High initial expenses impact the Cost of Ownership, deterring widespread adoption despite benefits like Sustainable Manufacturing and efficient Aftermarket Services. Urban Mobility Trends highlight the need for cost-effective solutions, urging a deeper Lifecycle Analysis. Addressing this challenge involves managing the Competitive Landscape, refining Supply Chain Management, advocating for supportive Legislation and Compliance Standards, fostering affordability, and encouraging Renewable Energy Integration.
How is the Electric Motorcycle Market segmented?
The market is segmented by type (sealed lead acid and lithium-iron), technology (removable and non-removable), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
How is the Electric Motorcycle Market Segmented by Type?
The sealed lead acid segment is expected to contribute substantial growth to the market share during the forecast period. Electric motorcycles commonly utilize sealed lead-acid (SLA) batteries which are encased in durable plastic, ensuring the prevention of acid leaks and providing the motorcycle with enhanced maneuverability without the risk of battery leakage.
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Who are the major companies in the Electric Motorcycle Market market?
Companies like Volkswagen AG., Zero Motorcycles Inc., and Harley Davidson Inc. are major players in the Electric Motorcycle Market. For more information on companies or their offerings, download the sample report
Related Reports:
Low-powered Electric Motorcycle and Scooter Market: The motorcycle and scooter market has the potential to grow by 2,710.07 thousand units during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.
High-performance Electric Motorcycle Market: The high-performance electric motorcycle market size is estimated to grow at a CAGR of 9.65% between 2022 and 2027. The market size is forecast to increase by USD 11,334.34 million.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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