Home > Automotive > Mobility > Two and Three Wheelers > Electric Motorcycle Market

Electric Motorcycle Market Trends

Report ID: GMI8034
Published Date: Feb 2024
Report Format: PDF

Download Free Sample

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.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric motorcycle reached USD 11.3 billion in 2023 and is set to witness 3.5% CAGR from 2024 to 2032, owing to the growing concerns about climate change and environmental degradation that have increased awareness the impact of traditional IC engine vehicles.

In 2023, the sport segment accounted for a market share of over 45% and will grow significantly through 2032, propelled by innovation and sustainability in the automotive industry.

Asia Pacific market was over 94% of the revenue share in 2023, owing to the stringent environmental policies and a growing awareness of sustainability, that have prompted a shift towards cleaner transportation solutions.

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