Electric Motorcycle Market Size - By Motorcycle (Street, Sport, Off-road), Motor (Hub motor, Mid-Drive motor), Horsepower (Below 25 kW, 25 kW to 50 kW, 51 kW to 75 kW, 76 kW to 100 kW, above 100 kW), Charging Power, Battery, End-user & Forecast, 2024 - 2032

Electric Motorcycle Market Size

Electric Motorcycle Market size was valued at USD 11.3 billion in 2023 and is estimated to register a CAGR of over 3.5% between 2024 and 2032. Growing concerns about climate change and environmental degradation have led to increased awareness among consumers about the impact of traditional internal combustion engine vehicles. Electric motorcycles are perceived as a more environmentally friendly alternative, as they produce zero tailpipe emissions during operation. Also, companies operating in this space are actively integrating sustainable practices to carve a healthy growth trajectory for the electric motorcycle industry.
 

Quoting an instance, in January 2024, LOHUM joined forces with TORK Motors to facilitate the sustainable recycling of electric motorcycle batteries. This collaboration establishes LOHUM as the preferred recycling partner for TORK Motors, ensuring adherence to India's Battery Waste Management Rules (BWMR) and promoting the production of battery raw materials with Extended Producer Responsibility (EPR). Improvements in battery technology, particularly in terms of energy density, charging speed, and overall performance, have played a crucial role in the adoption of electric motorcycles.
 

In January 2024, Cleveland's electric motorcycle startup, Land Moto, announced its aim to enhance its technological capabilities by focusing on battery design and secured an additional $3 million in funding for this purpose in 2024, in addition to the $7 million raised last year. Land Moto's flagship product is the district, a visually striking electric motorbike that occupies a space between e-bikes and traditional motorcycles.
 

Propelled by one or two sizeable batteries designed by Land, the District offers versatility, operating in Class 2 mode without requiring a permit or achieving speeds exceeding 70 MPH in performance mode. As battery technology continues to advance, it leads to increased range, shorter charging times, and improved overall efficiency, addressing key concerns related to electric vehicle adoption.
 

However, the lack of a well-developed and widespread charging infrastructure is a significant challenge for the electric motorcycle market. Unlike traditional gas stations, charging stations for electric vehicles are not as prevalent, which can lead to "range anxiety" among potential buyers. The limited availability of charging points makes long-distance travel less convenient for electric motorcycle users.
 

Electric Motorcycle Market Trends

The integration of smart and connected features into electric motorcycles was expected to gain momentum. This could involve features such as smartphone connectivity, navigation systems, rider-assistance technologies, and other smart functionalities.
 

Citing an example, in February 2024, Hero MotoCorp and Zero Motorcycles joined forces to establish an electric platform, intending to introduce four unique electric motorcycle models. The collaboration is set to unveil the initial lineup in 2025. Zero Motorcycles seamlessly integrates traditional elements with cutting-edge technology. Pioneering lightweight, efficient, and thrilling electric bikes since 2006, each model incorporates the Z-Force® electric powertrain and a meticulously crafted aluminum frame for optimal weight reduction. Originating from a garage concept in Santa Cruz, Zero has swiftly evolved into a globally acclaimed motorcycle brand, providing riders with the opportunity to embrace innovation on the open road.
 

As the automotive industry, in general, embraces connectivity and automation, electric motorcycles are likely to follow suit, enhancing the overall riding experience and safety.
 

Electric Motorcycle Market Analysis

Based on motorcycle, the sport segment accounted for 45% of the market share in 2023, led by a confluence of factors driving innovation and sustainability in the automotive industry. Environmental consciousness and the pursuit of eco-friendly transportation options are encouraging consumers to embrace electric vehicles.
 

Additionally, advancements in electric motor technology and battery efficiency have led to high-performance electric sport motorcycles that rival their traditional counterparts. The allure of instantaneous torque, reduced emissions, and lower operating costs further contribute to the growing popularity of electric sport motorcycles, as enthusiasts seek thrilling riding experiences without compromising on environmental responsibility.
 

Based on the motor, the hub motor segment held over 71% of the electric motorcycles market share in 2023. The adoption of electric motorcycles with hub motors is gaining favor due to several advantages. Hub motors, integrated directly into the wheels, simplify the bike's design, reducing mechanical complexity and enhancing overall reliability. This configuration allows for a more straightforward and efficient power transfer, resulting in improved energy efficiency and performance.
 

Electric motorcycles with hub motors often boast a sleek and compact design, contributing to lighter weight and better maneuverability. Additionally, hub motors facilitate regenerative braking, harnessing energy during deceleration to extend the motorcycle's range. These factors collectively make electric motorcycles with hub motors an appealing choice for riders seeking streamlined efficiency and modern design.
 

Asia Pacific electric motorcycle market recorded around 94% of the revenue share in 2023. Stringent environmental policies and a growing awareness of sustainability have prompted a shift towards cleaner transportation solutions. Government incentives, subsidies, and robust infrastructure development for electric vehicles contribute to a favorable ecosystem. Chinese manufacturers, backed by significant investments in research and development, lead in producing affordable and technologically advanced electric motorcycles. With a large and urbanizing population, the Asia Pacific, and China in particular, offers a substantial market for electric motorcycles, driving innovation and growth in the industry.
 

Electric Motorcycle Market Share

BMW and Zero Motorcycle hold a significant market share of over 15% in the electric motorcycle industry. Players in the electric motorcycle industry employ several key strategies to fortify their positions. Many focus on research and development, investing heavily in advancing battery technologies, enhancing performance, and extending range to address consumer concerns. Strategic partnerships and collaborations, as seen in alliances between traditional motorcycle manufacturers and electric startups, facilitate technology exchange and market expansion.
 

Leveraging government incentives and subsidies for electric vehicles is another common tactic, encouraging adoption through cost benefits. Additionally, creating a robust charging infrastructure and offering innovative financial models, such as battery leasing, helps alleviate range anxiety and makes electric motorcycles more accessible. Effective marketing campaigns emphasizing sustainability and environmental benefits also play a pivotal role in shaping consumer perceptions and driving market growth.
 

Electric Motorcycle Market Companies

Major companies operating in the electric motorcycle industry are:

• Arc Vector
• BMW
• Emflux Motors
• Energica Motor
• Evoke Motorcycles
• Fuell Fllow
• Harley -Davidson
• Honda
• Kawasaki
• Savic Motorcycles
• Suzuki
• Tacita Motorcycles
• Tarform Luna
• Verge
• Zero Motorcycle
   

Electric Motorcycle Industry News

• In November 2023, Honda Motor Company unveiled an ambitious plan for its electric motorcycle business, increasing the global annual sales target to 4 million units by 2030, up from the initial goal of 3.5 million units. Committed to accelerating electrification, Honda aims to introduce 30 electric motorcycle models worldwide by 2030, backed by a substantial investment of 100 billion yen from 2021 to 2025 and an additional 400 billion yen from 2026 to 2030, totaling an impressive 500 billion yen over the decade. The strategy aligns with Honda's dedication to meet evolving market demands and reinforcing its position in the electric motorcycle sector.
   
• In November 2023, Orxa Energies, an electric vehicle manufacturer, launched Mantis, a high-end electric bike. It has a kerb weight of 182 kg and is offered in urban black and jungle grey variants. The bike is equipped with a 1.3kW charger.
   

The electric motorcycle market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume (Units) from 2018 to 2032, for the following segments:

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Market, By Motorcycle

• Street
• Sport
• Off-road

Market, By Motor

• Hub motor
• Mid-Drive motor

Market, By Horsepower

• Below 25 kW
• 25 kW to 50 kW
• 51 kW to 75 kW
• 76 kW to 100 kW
• Above 100 kW

Market, By Charging Power

• Low-power on-board charger (Up to 3.3 kW)
• Mid-power on-board charger (3.3 kW - 6.6 kW)
• High-power on-board charger (Above 6.6 kW)

Market, By Battery

• Lithium-ion
• Lead acid
• Others

Market, By End-user

• Personal
• Commercial

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA