Electric Motorcycle Market Speeding Up

Published On
May 14, 2021

The movement towards electrification is transforming the transportation sector. Electric vehicles, trucks, buses and other fleets account for most of the change, but another form of electric vehicle is also revving up for growth.

Released in the first quarter of this year, Guidehouse Insight's "Market Data: Electric Motorcycles" analyzes the global market for electric motorcycles (e-motorcycles). While they have been lagging behind other forms of electric transport, adoption of e-motorcycles is expected to increase over the next decade.

One of the biggest challenges facing e-motorcycles has been the lack of range. According to Guidehouse, motorcycle consumers generally demand long ranges of 250 miles or more. The lack of space for sufficiently sized batteries makes it hard to address this issue and puts e-motorcycles at a competitive disadvantage against electric cars.

Despite these challenges, a number of factors are combining to create a more favorable environment. According to Guidehouse, increasingly stringent government emissions standards, purchase incentives and the establishment of low- and zero-emission zones will all contribute to increased growth in the e-motorcycle market over the next 10 years.

As is the case with other electrification technology, declining costs and improvements in lithium ion battery technology will also help to lower the cost and improve efficiency, making e-motorcycles a more attractive and accessible purchase for consumers. Fleet electrification will also boost the market, just as it is doing for other forms of electric transport. The increasing use of battery swapping, which helps address issues with charging time, range, costs and reliability will also help the market.

All of these factors will combine to generate growth over the next 10 years. Guidehouse projects the global e-motorcycle market to grow from nearly 1.1 million annual unit sales in 2021 to 3.6 million by 2030 at a 14.4% compound annual growth rate.

About the Author

Rick Laezman

Freelance Writer

Rick Laezman is a Los Angeles-based freelance writer who has been covering renewable power for more than 10 years. He may be reached at richardlaezman@msn.com.

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