Global Impact: Regional Analysis and Market Penetration
NEW YORK, NY, December 15, 2023 /24-7PressRelease/ — Explore the latest Technavio analysis on the Electric Motorcycle Market, forecasting rapid growth in the coming years. The market is poised to surge by USD 109.78 billion between 2022 and 2027, with a robust CAGR of 24.05%. According to Technavio, the APAC region is anticipated to contribute significantly, accounting for 34% of the global market growth. Obtain the comprehensive report now.
The surging demand for electric motorcycles is a pivotal driver propelling the expansion of the e-motorcycles market. Recent years have witnessed a notable uptick in the preference for electric motorcycles and other eco-friendly alternatives. This shift is influenced by an increasing awareness of environmental impact, prompting individuals to opt for eco-conscious vehicles such as electric motorcycles. A primary factor fueling the preference for electric bikes is their cost-efficient operation. Unlike traditional petrol-powered vehicles, electric bikes don’t rely on expensive fuel but are powered by rechargeable batteries, easily replenished through a standard wall outlet. Consequently, the operational expenses of electric bikes are significantly lower compared to their petrol counterparts.
APAC is solidifying its position as a key player in the global electric motorcycle market, driven by rapid population growth and escalating urbanization, particularly boosting the demand for two-wheeled transportation. Additionally, government initiatives promoting electric vehicles and combatting air pollution have accelerated the adoption of electric motorcycles in the region. Download the sample report for further insights.
Technavio underscores the emerging trends in the Electric Motorcycle Market:
Integration of IoT into electric motorcycle charging stations for real-time monitoring, data aggregation, and analysis, enhancing infrastructure efficiency and reducing power strain.
Utilization of intelligent infrastructure with IoT sensors for effective communication on station capacity, assisting users in scheduling charging sessions and minimizing wait times.
IoT-enabled remote control capabilities allowing dynamic load management, enabling adjustments in charging speeds during peak demand, ensuring battery protection, and enhancing station security for sustained growth in the global electric motorcycle market.
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). The sealed lead acid segment is expected to significantly contribute to market share growth during the forecast period. Electric motorcycles commonly utilize sealed lead-acid (SLA) batteries encased in durable plastic, preventing acid leaks and enhancing maneuverability without the risk of battery leakage.
Key players such as Volkswagen AG, Zero Motorcycles Inc., and Harley Davidson Inc. are prominent figures in the Electric Motorcycle Market. For comprehensive information on these companies and their offerings, download the sample report.
Expect substantial growth in the electric motorcycle market during the forecast period, driven by factors like increased demand for eco-friendly transportation and government incentives promoting electric vehicle adoption. However, challenges such as high initial costs and maintenance concerns may impede widespread adoption. The integration of IoT and smart infrastructure in charging stations emerges as a key trend, optimizing usage and ensuring battery safety. Asia-Pacific spearheads market expansion, particularly in China, India, and Japan, despite setbacks during the COVID-19 pandemic. Major industry players are actively strategizing through alliances and product launches to enhance their market presence.
Low-powered Electric Motorcycle and Scooter Market: The global low-powered electric 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.
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Type
7. Market Segmentation by Technology
8. Customer Landscape
9. Geographic Landscape
10. Drivers, Challenges, and Trends
11. Company Landscape
12. Company Analysis
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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