Electric Motorcycle Market Size, Share, Growth Analysis, By Type(E-scooters and E-motorcycles), By Battery(Lithium-ion (Li-ion) and Lead-acid) - Industry Forecast 2024-2031

Electric Motorcycle Market size was valued at USD 34.9 billion in 2021 and is poised to grow from USD 35.63 billion in 2022 to USD 121.08 billion by 2030, growing at a CAGR of 19.1% during the forecast period (2023-2030).

The electric motorcycle market is characterized by intense rivalry among industry players. Companies are striving to gain a competitive edge by introducing innovative and technologically advanced electric motorcycle models. They focus on enhancing features such as battery capacity, connectivity options, and display systems to attract customers. Additionally, players are actively engaging in strategic partnerships, mergers, and acquisitions to expand their market presence and diversify their product portfolios. This competitive environment fosters continuous innovation and drives the overall growth and development of the electric motorcycle market. 'Harley-Davidson (US)', 'Zero Motorcycles (US)', 'Energica Motor Company (Italy)', 'Lightning Motorcycles (US)', 'Evoke Motorcycles (China)', 'KTM AG (Austria)', 'NIU Technologies (China)', 'Johammer e-mobility GmbH (Austria)', 'Cake (Sweden)', 'BMW Motorrad (Germany)', 'Arc Vehicle Ltd. (UK)', 'Brammo Inc. (US)', 'Alta Motors (US)', 'Emflux Motors (India)', 'Tork Motors (India)', 'Gogoro Inc. (Taiwan)', 'Revolt Motors (India)', 'Shandong Incalcu Electric Vehicle Co., Ltd. (China)', 'Z Electric Vehicle Corporation (US)', 'Lightning Motor (UK)'

One significant driver for the electric motorcycle market is the increasing awareness and concern regarding environmental sustainability. With a growing consensus on the impact of greenhouse gas emissions and air pollution, there is a rising demand for cleaner and greener transportation options. Electric motorcycles offer a sustainable alternative to traditional gasoline-powered bikes, emitting zero or significantly reduced emissions. This environmental consciousness among consumers, coupled with supportive government policies and incentives, is driving the adoption and growth of electric motorcycles worldwide.

One key market trend in the electric motorcycle industry is the integration of advanced technology features. Manufacturers are incorporating features such as connected vehicle technology, Bluetooth connectivity, advanced displays, and smart battery management systems into their electric motorcycle models. These technological advancements enhance user experience, provide real-time data monitoring, and improve overall performance and efficiency. Additionally, the integration of these features aligns electric motorcycles with the growing demand for connected and smart mobility solutions, catering to the evolving preferences of consumers seeking a seamless and technologically advanced riding experience.

Asia Pacific dominated the electric motorcycle market. The Asia Pacific region has witnessed significant growth in the adoption of electric motorcycles due to several factors. One of the key drivers is the proactive government initiatives aimed at promoting electric mobility. Governments in countries like China, India, and Japan have implemented various incentives, subsidies, and tax benefits to encourage the use of electric vehicles, including motorcycles. These measures have created a favorable environment for the electric motorcycle market to thrive.