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Premium Electric Motorcycle Market Size

Report ID: GMI4477
Published Date: Oct 2023
Report Format: PDF

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Premium Electric Motorcycle Market Size

Premium Electric Motorcycle Market was valued at USD 238.9 million in 2022 and is estimated to register a CAGR of 21.8% between 2023 and 2032. The government's strategic allocation of funds to subsidize electric motorcycles is driving growth in the premium electric motorcycle industry. By incentivizing buyers and promoting eco-friendly transportation, these subsidies are encouraging manufacturers to innovate and produce high-quality electric motorcycles. For instance, in March 2023, the Indonesian government announced plans to invest USD 455.88 million from state funds to subsidize electric motorcycle sales until 2024, as part of its efforts to promote the adoption of Electric Vehicles (EVs) and attract investments in the domestic industry. This support boosts consumer adoption and attracts investments in advanced technologies, leading to the expansion of the market.

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Premium electric motorcycles are playing a crucial role in reducing the environmental impact and lowering carbon emissions. By replacing traditional gasoline-powered vehicles, they significantly decrease air pollution and Greenhouse Gas (GHG) emissions. The shift toward electric mobility helps combat climate change, improve air quality, and promote sustainability. As the awareness of these benefits grows, more consumers are choosing premium electric motorcycles, propelling market demand. This increased preference fosters a cleaner environment and accelerates the market growth, fostering a greener future.

Premium Electric Motorcycle Market Report Attributes
Report Attribute	Details
Base Year:	2022
Premium Electric Motorcycle Market Size in 2022:	USD 238.9 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	21.8%
2032 Value Projection:	USD 1.58 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	257
Segments covered:	Product and Battery Capacity
Growth Drivers:	Rising government fund allocation Increasing demand for energy-efficient commuting Growing environment concerns Low maintenance and operating cost of electric motorcycles
Pitfalls & Challenges:	Lack of charging infrastructure High cost of premium electric motorcycles

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The absence of a robust charging infrastructure impedes the premium electric motorcycle industry growth. Potential buyers are deterred by the limited availability of charging stations, fearing inconvenience and range anxiety. A widespread, easily accessible charging network is essential to instill confidence in consumers, encouraging them to adopt electric motorcycles. Addressing this issue by expanding charging infrastructure is crucial in fostering market growth and promoting the wide adoption of premium electric motorcycles.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for premium electric motorcycle was USD 238.9 million in 2022 and is estimated to register 21.8% CAGR between 2023 and 2032.

In 2022, the 10 – 15 kWh segment accounted for around 43% market share in 2022 and is projected to grow by 2032 as the battery strikes a balance between power and weight, thereby proliferating product demand.

Europe market for premium electric motorcycle had a major share of over 30% in 2022 and will grow through 2032 due to the introduction of uniquely designed electric motorcycles in France.

Arc Vehicle Ltd., Emflux Motors, Energica Motor Company S.p.A, Evoke Motorcycles, Hadin Motorcycles, Harley Davidson, Inc., KTM Sportmotorcycle GmbH, TACITA Srl, and Zero Motorcycles.