Electric Motorcycle Market Analysis 2026
2016 – 2026 GLOBAL ELECTRIC MOTORCYCLE MARKET FORECAST AND OPPORTUNITIES Published: November 2021 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING 1 Automotive © TechSci Research 1
Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Impact of COVID-19 on Global Electric Motorcycle Market 4. Executive Summary 5. Voice of Customer 5.1. Factors Influencing Purchase Decision 5.2. Unaided/Aided Brand Recall 5.3. Brand Satisfaction Level, By Pricing 5.4. Brand Satisfaction Level, By Battery Life 5.5. Brand Satisfaction Level, By Maintenance Cost 5.6. Brand Satisfaction Level, By Performance 5.7. Challenges/Unmet Needs 6. Global Electric Motorcycle Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Type (Standard, Cruiser, Sports) 6.2.2. By Range (Less than 50 Km, 50–100 Km, 101–150 Km, Above 150 Km) 6.2.3. By Battery Capacity (<25 Ah and >25 Ah) 6.2.4. By Battery Type (Lead Acid and Li-ion) 6.2.5. By Region 6.3. Market Map (By Type, By Region) 2 Automotive © TechSci Research 2
Table of Contents S. No. Contents 7. Asia-Pacific Electric Motorcycle Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value By Volume 7.2. Market Share & Forecast 7.2.1. By Type 7.2.2. By Range 7.2.3. By Battery Capacity 7.2.4. By Battery Type 7.2.5. By Country 7.3. Market Map (By Type) 7.4. Asia-Pacific: Country Analysis 7.4.1. China Electric Motorcycle Market Outlook 7.4.1.1. Market Size & Forecast 7.4.1.1.1. By Value & Volume 7.4.1.2. Market Share & Forecast 7.4.1.2.1. By Type 7.4.1.2.2. By Range 7.4.1.2.3. By Battery Capacity 7.4.1.2.4. By Battery Type 7.4.1.2.5. By Company (2020) 3 Automotive © TechSci Research 3
Table of Contents S. No. Contents 7.4.2. Indonesia Electric Motorcycle Market Outlook 7.4.2.1. Market Size & Forecast 7.4.2.1.1. By Value & Volume 7.4.2.2. Market Share & Forecast 7.4.2.2.1. By Type 7.4.2.2.2. By Range 7.4.2.2.3. By Battery Capacity 7.4.2.2.4. By Battery Type 7.4.2.2.5. By Company (2020) 7.4.3. Thailand Electric Motorcycle Market Outlook 7.4.3.1. Market Size & Forecast 7.4.3.1.1. By Value & Volume 7.4.3.2. Market Share & Forecast 7.4.3.2.1. By Type 7.4.3.2.2. By Range 7.4.3.2.3. By Battery Capacity 7.4.3.2.4. By Battery Type 7.4.3.2.5. By Company (2020) 4 Automotive © TechSci Research 4
Table of Contents S. No. Contents 7.4.4. Philippines Electric Motorcycle Market Outlook 7.4.4.1. Market Size & Forecast 7.4.4.1.1. By Value & Volume 7.4.4.2. Market Share & Forecast 7.4.4.2.1. By Type 7.4.4.2.2. By Range 7.4.4.2.3. By Battery Capacity 7.4.4.2.4. By Battery Type 7.4.4.2.5. By Company (2020) 7.4.5. Malaysia Electric Motorcycle Market Outlook 7.4.5.1. Market Size & Forecast 7.4.5.1.1. By Value & Volume 7.4.5.2. Market Share & Forecast 7.4.5.2.1. By Type 7.4.5.2.2. By Range 7.4.5.2.3. By Battery Capacity 7.4.5.2.4. By Battery Type 7.4.5.2.5. By Company (2020) 5 Automotive © TechSci Research 5
Table of Contents S. No. Contents 7.4.6. India Electric Motorcycle Market Outlook 7.4.6.1. Market Size & Forecast 7.4.6.1.1. By Value & Volume 7.4.6.2. Market Share & Forecast 7.4.6.2.1. By Type 7.4.6.2.2. By Range 7.4.6.2.3. By Battery Capacity 7.4.6.2.4. By Battery Type 7.4.6.2.5. By Company (2020) 7.4.7. Vietnam Electric Motorcycle Market Outlook 7.4.7.1. Market Size & Forecast 7.4.7.1.1. By Value & Volume 7.4.7.2. Market Share & Forecast 7.4.7.2.1. By Type 7.4.7.2.2. By Range 7.4.7.2.3. By Battery Capacity 7.4.7.2.4. By Battery Type 7.4.7.2.5. By Company (2020) 6 Automotive © TechSci Research 6
Table of Contents S. No. Contents 8. Europe Electric Motorcycle Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Type 8.2.2. By Range 8.2.3. By Battery Capacity 8.2.4. By Battery Type 8.2.5. By Country 8.3. Market Map (By Type) 8.4. Europe: Country Analysis 8.4.1. Spain Electric Motorcycle Market Outlook 8.4.1.1. Market Size & Forecast 8.4.1.1.1. By Value & Volume 8.4.1.2. Market Share & Forecast 8.4.1.2.1. By Type 8.4.1.2.2. By Range 8.4.1.2.3. By Battery Capacity 8.4.1.2.4. By Battery Type 8.4.1.2.5. By Company (2020) 7 Automotive © TechSci Research 7
Table of Contents S. No. Contents 8.4.2. Italy Electric Motorcycle Market Outlook 8.4.2.1. Market Size & Forecast 8.4.2.1.1. By Value & Volume 8.4.2.2. Market Share & Forecast 8.4.2.2.1. By Type 8.4.2.2.2. By Range 8.4.2.2.3. By Battery Capacity 8.4.2.2.4. By Battery Type 8.4.2.2.5. By Company (2020) 8.4.3. France Electric Motorcycle Market Outlook 8.4.3.1. Market Size & Forecast 8.4.3.1.1. By Value & Volume 8.4.3.2. Market Share & Forecast 8.4.3.2.1. By Type 8.4.3.2.2. By Range 8.4.3.2.3. By Battery Capacity 8.4.3.2.4. By Battery Type 8.4.3.2.5. By Company (2020) 8 Automotive © TechSci Research 8
Table of Contents S. No. Contents 8.4.4. Germany Electric Motorcycle Market Outlook 8.4.4.1. Market Size & Forecast 8.4.4.1.1. By Value & Volume 8.4.4.2. Market Share & Forecast 8.4.4.2.1. By Type 8.4.4.2.2. By Range 8.4.4.2.3. By Battery Capacity 8.4.4.2.4. By Battery Type 8.4.4.2.5. By Company (2020) 8.4.5. United Kingdom Electric Motorcycle Market Outlook 8.4.5.1. Market Size & Forecast 8.4.5.1.1. By Value & Volume 8.4.5.2. Market Share & Forecast 8.4.5.2.1. By Type 8.4.5.2.2. By Range 8.4.5.2.3. By Battery Capacity 8.4.5.2.4. By Battery Type 8.4.5.2.5. By Company (2020) 9 Automotive © TechSci Research 9
Table of Contents S. No. Contents 9. Americas Electric Motorcycle Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Type 9.2.2. By Range 9.2.3. By Battery Capacity 9.2.4. By Battery Type 9.2.5. By Country 9.3. Market Map (By Type) 9.4. Americas: Country Analysis 9.4.1. Brazil Electric Motorcycle Market Outlook 9.4.1.1. Market Size & Forecast 9.4.1.1.1. By Value & Volume 9.4.1.2. Market Share & Forecast 9.4.1.2.1. By Type 9.4.1.2.2. By Range 9.4.1.2.3. By Battery Capacity 9.4.1.2.4. By Battery Type 9.4.1.2.5. By Company (2020) 10 Automotive © TechSci Research 10
Table of Contents S. No. Contents 9.4.2. United States Electric Motorcycle Market Outlook 9.4.2.1. Market Size & Forecast 9.4.2.1.1. By Value & Volume 9.4.2.2. Market Share & Forecast 9.4.2.2.1. By Type 9.4.2.2.2. By Range 9.4.2.2.3. By Battery Capacity 9.4.2.2.4. By Battery Type 9.4.2.2.5. By Company (2020) 9.4.3. Canada Electric Motorcycle Market Outlook 9.4.3.1. Market Size & Forecast 9.4.3.1.1. By Value & Volume 9.4.3.2. Market Share & Forecast 9.4.3.2.1. By Type 9.4.3.2.2. By Range 9.4.3.2.3. By Battery Capacity 9.4.3.2.4. By Battery Type 9.4.3.2.5. By Company (2020) 11 Automotive © TechSci Research 11
Table of Contents S. No. Contents 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends and Developments 12. Product Benchmarking and Price Matrix 13. Global Electric Motorcycle Investment Scenario 14. Policy and Regulatory Landscape 14.1. China 14.2. United States 14.3. India 14.4. United Kingdom 14.5. Philippines 14.6. Indonesia 14.7. Canada 14.8. Spain 14.9. Vietnam 14.10. France 14.11. Thailand 14.12. Germany 14.13. Brazil 14.14. Malaysia 14.15. Italy 12 Automotive © TechSci Research 12
Table of Contents S. No. Contents 15. Government Initiative to Promote Electric Motorcycle Over ICE Motorcycle 16. Deployment of Electric Motorcycles in Shared Mobility Services 16.1. Overview 16.2. Competitive Analysis 17. Rental / Leasing Companies for Electric Scooters 18. Competitive Landscape 18.1. Zero Motorcycles, Inc. 18.2. Kwang Wang Yang Motor Company, Limited 18.3. Hero Electric Vehicles Pvt. Ltd. 18.4. Energica Motor Company S.p.A 18.5. Terra Motors Corporation 18.6. Harley-Davidson, Inc., H-D 18.7. ARC Vehicles Ltd 18.8. Damon Motors Inc 18.9. Lightning Motorcycle Corp. 18.10. Johammer e-mobility GmbH 18.11. VMOTO LIMITED 19. Strategic Recommendations 20. References 21. About Us & Disclaimer 13 Automotive © TechSci Research 13
PRODUCT OVERVIEW
Scope of Report Product of Interest (POI): Electric Motorcycle Electric motorcycles and scooters 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. Market Segmentation TYPE REGION Year Range • Standard • Asia-Pacific • Cruiser • Europe Review Period • Sports • Americas 2016 – 2019 Base Year BATTERY CAPACITY RANGE • <25 Ah 2020 • Less than 50 Km • >25 Ah Estimated Year • 50–100 Km 2021 • 101–150 Km • Above 150 Km BATTERY TYPE Forecast Period • Lead Acid 2022 – 2026 • Li-ion 15 Automotive © TechSci Research 15
RESEARCH METHODOLOGY
Research Methodology Market Formulating Developing List Data Data Data Profiling Questionnaire of Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine top players in interviews, TechSci specialists was industry experts and and secondary tools and internal the global electric formulated a detailed developed. industry players for research was proprietary database to motorcyclemarket, overall discussion guide. data collection and validated through obtain qualitative and market size and segmental verification. rigorous quantitative insights about market size. triangulation. the global electric motorcyclemarket. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business Leaders ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. 17 Automotive © TechSci Research 17
Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global electric motorcycle market. The team has analyzed the outlook of various segments of the market, while considering the major influencing factors such as electric motorcycle. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global electric motorcycle market. Methodology Followed for Calculation of Market Size: • Market Size by Value & Volume: Market size, in terms of value & volume for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders such as electric motorcycle companies, channel partners, market influencers & end-users, industry experts, and other industry participants. • The team interviewed more than 15 electric motorcycle companies, 100 end-users and 25 industry experts and other value chain stakeholders in the global electric motorcycle market to obtain the overall market size between 2016 and 2020, which was validated by Delphi technique. Taking standard deviation into consideration, the market size was averaged out. • Respondents were asked about the current and future market growth rates, market shares by type, by range, by battery capacity, by battery type and by region. Removing outlier response, the geometric mean of growth estimates and manufacturer wise revenue shares generated across various segments were considered, to arrive at final revenue shares. Revenue shares generated across various segments were further triangulated based on response received from other stakeholders. 18 Automotive © TechSci Research 18
Research Methodology Methodology Followed for Calculation of Market Shares: • Market share by type, by range, by battery capacity, by battery type and by region were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of electric motorcycle market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global electric motorcycle market, TechSci Research used various forecast techniques such as: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis 19 Automotive © TechSci Research 19
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million. Partial List of Companies Interviewed Key Secondary Sources • Zero Motorcycles, Inc. ▪ World Bank • Kwang Yang Motor Co., Ltd ▪ Industry Association • Hero Electric Vehicles Pvt. Ltd. ▪ TechSci Research Proprietary Database & Knowledge • Terra Motors Corporation Repository • Harley-Davidson, Inc., H-D ▪ Company Annual Reports • ARC Vehicles Ltd ▪ Industry Magazines • Damon Motors Inc ▪ Industry Reports • Lightning Motorcycle Corp. ▪ News Dailies • Johammer e-mobility GmbH ▪ Credible Paid Databases 20 Automotive © TechSci Research 20
Industry Brief Concerns toward environment depletion is driving the growth of the global electric motorcycle market, in the forecast period, 2022-2026F. According to TechSci report on, “Electric Motorcycle Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026”. Global electric motorcycle market is anticipated to grow with a CAGR of 19.36% in the forecast years, 2022-2026, to reach USD6220.82 million by 2026. The market was valued at USD1930.64 million in 2020, and this growth can be attributed to the rapidly increasing demand for environment-friendly automobiles among the global population. Due to the recent pandemic situation, consumers were highly inclined toward personal vehicle possession. Consumers are actively adapting personal vehicles in cost-effective range and with the advantage of environment friendly vehicles thus preferring electric motorcycle and supporting the growth of the global electric motorcycle market in the next five years. Rising concerns toward carbon emission, worsening climatic conditions, and increasing green energy applications further drive the growth of the global electric motorcycle market in the upcoming five years. Moreover, increasing demands from the e- commerce industry for delivery personnel, faster delivery services, enhancing customer-delivery services further substantiate the growth of the global electric motorcycle market in the future five years. Rising fuel costs also influence consumer preferences toward electric motorcycles and aid the growth of the global electric motorcycle market in the forecast years until 2026. Prices of crude oil increased by 70% in the past year and a further increase in the crude oil prices post COVID-19 further drives the growth of the market. Governmental support through favorable schemes, financial support to the electric automobile manufacturers, along with promotions regarding environmental crises further drive the growth of the global electric motorcycle market in the forecast period. With increasing globalization, e-commerce giants are expanding their operations in wider geographies, and their need for on-time delivery further builds a positive scope for the increasing demand for electric vehicles and thus aids the growth of the global electric motorcycle market in the forecast years until 2026. The global electric motorcycle market is segmented by type, range, battery capacity, battery type, regional distribution, and competitive analysis. Based on range, the market is further bifurcated into less than 50 km, 50–100 km, 101–150 km, and above 150 km. 101-150 km range products are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the increasing dependency of the consumers on electric motorcycles to travel on a regular basis and daily utilities requirements. Also, charging the electric vehicles is a challenge, therefore the consumers prefer a longer distance range of electric vehicles such that charging is affordable as well as efficient for at least daily usage, thus driving the growth of the sub- segment along with the growth of the global electric motorcycle market in the next five years. Above 150km range electric motorcycles are also preferred by the consumers and register significant growth in the future five years due to rising disposable income among the population and increasing demands for electric vehicles. An increasing number of charging infrastructure would further aid the growth of the global electric motorcycle market. Apartial list of major market players of the global electric motorcycle market includes: Zero Motorcycles, Inc, Kwang Wang Yang Motor Company Limited, Hero Electric Vehicles Pvt. Ltd., Energica Motor Company S.p.A, Terra Motors Corporation, Harley-Davidson, Inc., H-D, ARC Vehicles Ltd, Damon Motors Inc, Lightning Motorcycle Corp., Johammer e-mobility GmbH, VMOTO LIMITED “The regional analysis of the market is conducted between Asia Pacific, Europe, America region along with rest of the world considered separately. Asia Pacific region is expected to dominate the segment analysis in the upcoming five years on account of increasing usage of electric motorcycles in countries like China, India, Thailand, etc. China holds the largest revenue shares of the market in the Asia Pacific region since it is the largest producer of the electric motorcycles. The growth in the country is building rapidly over government support and involvement toward developing electric motorcycles. E-commerce industry is also expanding in the region. With presence of global giants in the industry in the region that are entering and exploiting the minor economies like Thailand, Vietnam, etc. are also substantiating the future growth of the global electric motorcycle market in the next five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global managementconsulting firm. 21 Automotive © TechSci Research 2121
References Global Electric Motorcycle Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F CAGR 2016-2020 CAGR 2021E-2026F By Value: xx% By Value: xx% By Volume: xx% By Volume: xx% 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Value (USD Million) Volume (Thousand Units) Asia-Pacific Electric Motorcycle Market Share, By Type, By Volume, 2016-2026F 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Standard 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Cruiser 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Sports 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% India Electric Motorcycle Market Share, By Range, By Volume, 2016-2026F 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F 101–150 Km 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Above 150 Km 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 50–100 Km 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Less than 50 Km 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 22 Automotive © TechSci Research 2222
References Report Name: GLOBAL ELECTRIC MOTORCYCLE MARKET FORECAST AND OPPORTUNITIES 2016 – 2026 License Type Price Single User License $4900 Multi-User License $5900 Custom Research License $8900 To View Sample OR Purchase Report 23 Automotive © TechSci Research 2323
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