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Premium Electric Motorcycle Market Size
- Report ID: GMI4477
- Published Date: Oct 2023
- Report Format: PDF
Premium Electric Motorcycle Market Size
Premium Electric Motorcycle Market was valued at USD 238.9 million in 2022 and is estimated to register a CAGR of 21.8% between 2023 and 2032. The government's strategic allocation of funds to subsidize electric motorcycles is driving growth in the premium electric motorcycle industry. By incentivizing buyers and promoting eco-friendly transportation, these subsidies are encouraging manufacturers to innovate and produce high-quality electric motorcycles. For instance, in March 2023, the Indonesian government announced plans to invest USD 455.88 million from state funds to subsidize electric motorcycle sales until 2024, as part of its efforts to promote the adoption of Electric Vehicles (EVs) and attract investments in the domestic industry. This support boosts consumer adoption and attracts investments in advanced technologies, leading to the expansion of the market.
Premium electric motorcycles are playing a crucial role in reducing the environmental impact and lowering carbon emissions. By replacing traditional gasoline-powered vehicles, they significantly decrease air pollution and Greenhouse Gas (GHG) emissions. The shift toward electric mobility helps combat climate change, improve air quality, and promote sustainability. As the awareness of these benefits grows, more consumers are choosing premium electric motorcycles, propelling market demand. This increased preference fosters a cleaner environment and accelerates the market growth, fostering a greener future.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Premium Electric Motorcycle Market Size in 2022: | USD 238.9 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 21.8% |
| 2032 Value Projection: | USD 1.58 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 257 |
| Segments covered: | Product and Battery Capacity |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The absence of a robust charging infrastructure impedes the premium electric motorcycle industry growth. Potential buyers are deterred by the limited availability of charging stations, fearing inconvenience and range anxiety. A widespread, easily accessible charging network is essential to instill confidence in consumers, encouraging them to adopt electric motorcycles. Addressing this issue by expanding charging infrastructure is crucial in fostering market growth and promoting the wide adoption of premium electric motorcycles.
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Premium Electric Motorcycle Market Scope
