Premium Electric Motorcycle Market Size By Product (Sport, Off-road), By Battery Capacity (Below 10 kWh, 10 – 15 kWh, 15 – 20 kWh, Above 21 kWh), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Dec 2019  |  Report ID: GMI4477  |  Authors: Ankita Bhutani, Prasenjit Saha

Report Format: PDF   |   Pages: 130   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Premium Electric Motorcycle Market size exceeded USD 180 million in 2018 and is set to grow at over 60% CAGR between 2019 and 2026. The global industry shipments are projected to reach 500 thousand units by 2026.
 

Premium Electric Motorcycle Market

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The rising government investments across the globe for efficient charging infrastructure development are driving the premium electric motorcycle market demand. Governments across the globe are deploying a large number of charging stations at various locations to encourage the uptake of zero-emission motorcycles. According to the U.S. Department of Energy (DoE), in 2019, the country has over 20,000 electric charging stations with 68,800 connectors, providing ample opportunities for the market growth. Governments are also providing heavy subsidies for the adoption of electric vehicles. For instance, in February 2019, the Spanish Government announced a subsidy of USD 780 on the purchase of electric motorcycles attributing the regional market size. Furthermore, the emergence of Lithium-ion (Li-ion) battery technology is providing a positive outlook for market development. Li-ion batteries feature a lightweight design that aids in boosting the horsepower and overall range of motorcycles. Companies are replacing lead-acid batteries with Li-ion batteries to improve the performance of premium electric motorcycles.
 

Industry challenges include the unavailability of ample charging infrastructure and high cost of premium electric motorbikes in several countries including India, Brazil, and Mexico. Players operating in the market are expected to adopt price discrimination strategies to gain a high share in these markets, contributing to the industry growth. Companies are also developing charging stations at various locations to support the product adoption. For instance, in December 2019, Revolt deployed over five charging stations at multiple locations in Delhi and Pune in India, aiding the industry trends.

Premium Electric Motorcycle Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 180 Million (USD)
Historical Data for: 2015 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 60% 2026 Value Projection: 7 Billion (USD)
Pages: 130 Tables, Charts & Figures: 198
Geographies covered (12): U.S., Canada, Belgium, UK, France, Spain, Italy, Germany, Netherlands, China, India, Australia
Segments covered: Product, Battery Capacity
Companies covered (15): ARC Vehicle Ltd., Brutus Motorcycle, Emflux Motors, Energica Motor Company S.p.A., Evoke Motorcycle, Hadin Motorcycles, Harley Davidson Inc., IVElectrics, KTM Sportmotorcycle GmbH, Lightning Motorcycles, Revolt Motors, SAVIC Motorcycles, TACITA Srl, Ultraviolette Automotive Pvt Ltd., Zero Motorcycles
Growth Drivers:
  • Growing concerns about the rising carbon emission across the globe
  • Presence of several premium electric motorcycle manufacturers in North America and Europe
  • Increasing investments by governments in building efficient charging infrastructure and providing subsidiaries in Europe and Asia Pacific
  • Implementation of stringent government regulations about the motorcycle emission in North America
  • Low maintenance and operating cost of electric motorcycles
Pitfalls & Challenges:
  • Lack of charging infrastructure
  • High cost of premium electric motorcycles

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Rising popularity of premium sports electric motorcycles with high speed

Global premium electric motorcycle market size, by product, 2018 & 2026 (USD Thousand)
Global premium electric motorcycle market size, by product, 2018 & 2026 (USD Thousand)

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Based on product type, the premium electric motorcycle market is segmented into sport, off-road, cruiser, and café racer. According to the latest market research, sport premium electric motorcycles are witnessing high growth in the industry due to their high speed, long-range, and enhanced torque. Companies are developing premium electric motorcycles with maximum battery capacity and increased torque to gain market opportunities. For instance, Energica Motor Company S.p.A. developed Energica Ego+ with a traveling range of 250 miles for urban riding, 143 miles for combined riding, and 112 miles for long open roads. Furthermore, the motorcycle is integrated with 21.5 kWh lithium polymer battery, enhancing the overall performance of the vehicle. Sport premium electric motorcycles are gaining popularity in European and North American countries due to the increasing numbers of sport electric motorcycle racing events, aiding the regional market demand. For instance, in 2019, MotoGP introduced MotoE World Cup, officially the FIM Enel MotoE World Cup, a series of motorcycle racing events that utilize only electric motorcycles. MotoGP has also announced the schedule for 2020 MotoE World Cup, which is expected to be held in May 2020 in Europe. This will support the adoption of market for premium sports electric motorcycles over the forecast timeline.
 

The growing demand for electric motorcycles having longer traveling range

As per the market analysis, premium electric motorcycles with battery capacity of 15 – 20 kWh are witnessing high growth due to their maximum power and better mileage. Companies operating in the market are developing vehicles in these battery capacity ranges to enhance the overall rider experience. For instance, in September 2019, Zero Motorcycles announced the launch of its new Zero DSR Black Forest with maximum battery capacity of 18 kWh and maximum urban mileage of 196 miles. Batteries of electric motorcycles with the capacity of 15 – 20 kWh are majorly deployed in cruiser motorcycles to extend the range of the vehicle.  Market players are also deploying quick charger technologies in motorcycles to improve the overall charging speed. For instance, Harley Davidson has adopted a quick charger technology that allows a motorcycle to charge 80% in 40 minutes at any Level 3 DC fast-charge station. The availability of fast-charging stations at various locations in the U.S., France, and Germany will support the adoption of premium electric motorcycles with higher capacity batteries across the region.
 

Provision of large subsidies for the purchase of electric vehicles in European countries

Europe premium electric motorcycle market size, by region, 2026
Europe premium electric motorcycle market size, by region, 2026

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The governments in Europe are offering significant subsidies, incentives, and grants on the purchase of electric motorcycles to promote green mobility, providing a positive outlook to the regional industry in 2019. For instance, the UK government provides a grant of USD 2,000 or 20% of the total purchase cost on the purchase of an electric motorcycle with battery warranty of five years and a good travelling range. Similarly, the French government has announced USD 1,000 grant while the Belgium government is providing USD 1,670 cash in subsidy on the purchase of a new electric motorcycle. This will aid to reduce the overall purchasing cost, leading to the adoption of premium electric motorcycles over gas-powered motorcycles. Furthermore, the presence of several leading premium electric motorcycle manufacturers including Energica Motor Company S.p.A, Arc Vehicle Ltd., and TACITA Srl will serve as a major driver to the regional industry growth. The regional market players are also deploying advanced technologies to motorcycles, providing efficient and reliable performance to customers.
 

Product launches and geographical expansion remain key growth strategies of market players

Companies operating in the premium electric motorbike market are adopting various strategies, such as strategic partnerships & collaborations, mergers & acquisitions, and product launches, to gain market shares. For instance, in October 2018, Arc Vehicle Ltd. announced the launch of its new Arc Vector at EICMA 2018, Italy. The motorcycle has a top speed of 200 km/h with a maximum range of 270 miles. Market leaders are also focusing on enhancing their dealers & distributors network across the globe to expand geographical reach. For instance, in July 2019, Energica Motor Company S.p.A. announced the appointment of a new dealer, RYDU, to gain access in the Asia Pacific market. RYDU is located in Hong Kong and has two showrooms in Kowloon, one of which is dedicated to electric bikes. Furthermore, industry players are also deploying advanced battery management systems and AI-based solutions to improve the overall performance of premium electric motorcycles. These factors will aid the expansion of the industry over the forecast timeline.

Some of the major companies of the market include Zero Motorcycles, Evoke Motorcycles, Harley Davidson, Inc., Energica Motor Company S.p.A., KTM Sportmotorcycle GmbH, TACITA Srl, Emflux Motors, Arc Vehicle Ltd., and Hadin Motorcycles.
 

The premium electric motorcycle market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2015 to 2026 for the following segments:

Market by Product

  • Sport
  • Off-road
  • Other

Market by Battery Capacity

  • Below 10 kWh
  • 10 – 15 kWh
  • 16 – 20 kWh
  • Above 21 kWh

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Belgium
    • UK
    • France
    • Spain
    • Italy
    • Germany
    • The Netherlands
  • Asia Pacific
    • China
    • India
    • Australia
  • Rest of the world (RoW)

 

Frequently Asked Questions (FAQ) :

The industry shipments are projected to reach 500 thousand units by 2026 as governments across the globe are deploying a large number of charging stations at various locations to encourage the uptake of zero-emission motorcycles.
The European industry is expected grow rapidly between 2019 and 2026 as governments in Europe are offering significant subsidies, incentives, and grants on the purchase of electric motorcycles to promote green mobility.
Some of the major companies in the market include Zero Motorcycles, Evoke Motorcycles, Harley Davidson, Inc., Energica Motor Company S.p.A., KTM Sportmotorcycle GmbH, TACITA Srl, Emflux Motors, Arc Vehicle Ltd., and Hadin Motorcycles.

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