Electric motorcycles are plug-in electric vehicles with two or three wheels. The electricity is stored on board in a rechargeable battery, which drives one or more electric motors.
Premium Electric Motorcycle Market Insights
Premium Electric Motorcycle Market is likely to witness an impressive Compound Annual Growth Rate(CAGR) of 54% during the forecast period. The prime factor that is contributing to the robust demand for electric motorcycles is the heavy investment made by governments across the globe to develop charging infrastructure and incentives offered to buyers, which will create opportunities for OEMs to expand their revenue stream and geographical presence.
Premium Electric Motorcycle Market – Snapshot
Growth: 54% for the next five years
Major Product Type: Sports
Dominant Battery Capacity Type: 15 – 20 kWh
Region with the highest demand: Europe
Market Share Analysis
By Product Type
Based on the product type, the market is segmented as sports, off-road vehicle, and others. The premium sports motorcycle segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The wide use of sports motorcycle in number of sports racing events is expected to drive the growth of the segment over the forecast period.
By Battery Capacity Type
Based on the battery capacity type, the premium electric motorcycle market is segmented as Below 10 kWh, 10 – 15 kWh, 15 – 20 kWh, and Above 21 kWh. The 15 – 20 kWh segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The growth of this segment is due to its maximum power and better mileage compared to other battery capacity types.
In terms of regions, Europe is estimated to be the largest as well as the fastest-growing premium electric motorcycle market during the forecast period, followed by North America and Asia-Pacific with lucrative growth opportunities.
Some of the major companies in this market are-
- ARC Vehicle Ltd.
- Brutus Motorcycle
- Emflux Motors
- Energica Motor Company S.p.A.
- Evoke Motorcycle
- Hadin Motorcycles
- Harley Davidson Inc.
- KTM Sportmotorcycle GmbH
- Lightning Motorcycles
- Revolt Motors
- SAVIC Motorcycles
- TACITA Srl
- Ultraviolette Automotive Pvt Ltd.
- Zero Motorcycles
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