Premium Electric Motorcycle Market Revenue Forecast 2022-2026 By Regional Manufacturers
Category: #business  By Rahul Varpe  Date: 2022-11-24
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Premium Electric Motorcycle Market Revenue Forecast 2022-2026 By Regional Manufacturers

Soaring concern pertaining to carbon emission has bolstered premium electric motorcycle market share as auto sector witnesses an influx of premium electric motorcycle manufacturers. Leading companies sharpening their strategies for premium bikes have been attributed to premium motorcycles’ features such as maximum torque, improved speed, highest travelling range and aesthetic appeal.

The advent of lithium-ion (Li-ion) is said to have redefined premium electric motorcycle market trend. Palpable traction towards Li-ion batteries comes in the wake of innate characteristics of the batteries to bolster the overall performance of the vehicles by reducing maintenance requirements and ameliorating range.

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Inevitable inclination towards sports electric motorcycles has instilled confidence among manufacturers of premium electric motorcycles. Apparently, industry players are providing electric sport motorcycles having the acceleration of up to 0-100km/h in 3.2 seconds with a maximum speed of up to 200 km/h. Moreover, notable uptick in the number of racing events has come in the wake of maximum efficiency and higher speed attributed to sports electric motorcycles.

According to the latest research report by Global Market Insights, Inc., premium electric motorcycle market size is projected to surpass US$ 7 billion by 2026.

10-15 kWh battery capacity will be highly sought-after for urban use as premium electric motorcycles tend to have lower battery capacities along with lower range offerings. In a bid to enable riders to replace the batteries any time keeping the hassle of recharging the previous batteries instantly at bay, prominent companies are integrating swappable batteries into low capacity batteries.

North America premium electric motorcycle share will witness an uptick against the backdrop of robust government initiatives to reduce pollution. For instance, the U.S. government is emphasizing deployment of a large number of charging stations to augment the production of electric motorcycles in the country. Moreover, increase in discretionary income is said to augur well for the expansion of North America premium electric motorcycle market size.

Governments and leading companies appear to boost premium electric motorcycle industry share with the former doling out subsidy to propel the expansion of EVs. Governments have been providing income tax deduction on interest paid on loans and exempting tax on the purchase of EVs. In a landmark move to change consumer behavior favoring EVs, the Government of India slashed GST rate on electric vehicles to 5% from 12% effective from August 1st, 2019.

Niti Aayog, Government of India’s think tank, contemplates transition for motorcycle less than 150 cc to e-mobility by 2025. As such, APAC premium electric motorcycle market size will continue to thrive in the next half a decade.

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Electric motorcycle makers are upping their strategies for premium bikes as they place emphasis on offering technologically sophisticated products to spur rider’s experience. Some of the state-of-the-art technologies include AI, fast charging, and battery management systems.  Some of the prominent companies profiled in the report are KTM Sportmotorcycle GmbH, Harley Davidson, Evoke Motorcycles, Arc Vehicle Ltd, Zero Motorcycles, and Hadin Motorcycles, Emflux Motors and Lightening Motorcycles, among several others.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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