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Electric Motorcycle Market to Hit $121.07 Billion by 2030: Grand View Research, Inc.
The commercial end-use segments of the electric motorcycle industry are creating new opportunity avenues for industries like logistics and food delivery. In regions such as Africa and Latin America , food delivery platforms are employing electric motorcycles for delivery in partnership with electric mobility start-ups. For instance, on May 2022, iFood, a Brazilian food delivery platform, announced the launch of its electric motorcycle, EVS Motor iFood. The food delivery platform partnered with Voltz Motor to develop the electric motorcycle. As per the food platform organization, the motorcycle is expected to save up to 70% of running costs and maintenance expenditures. EVS Motor iFood motorcycle ranges 85 kilometers per hour and can cover up to 100 to 180 kilometers with two battery packs. Additionally, to make the electric motorcycle affordable by partnering with bank BV for financing options.
The Asia Pacific region is anticipated to register the fastest growth in the market over the forecast period. The region's market growth is attributed to factors such as growing government initiatives such as incentives and subsidies to promote the growth of electric mobility, rising fuel costs, and uptake of electric motorcycles by e-commerce and food delivery platforms. Moreover, the regional electric motorcycle industry growth is further expected to augment owing to the rise in disposable income in high population density regions such as Indonesia , India , China , and Vietnam . The major players in the electric motorcycle industry landscape are consistently launching new electric motorcycles which are equipped with batteries with increased storage capacity, advanced displays, Bluetooth connectivity, and connected vehicle technology features in a bid to promote the adoption and sales of the vehicles, thus contributing to the market growth.
Major incumbents in the electric motorcycle industry landscape are adopting organic and inorganic growth strategies such as launching new products, mergers, acquisitions, and partnerships to strengthen their market presence and expand their product portfolio. For instance, on December 2022 , Pure EV – an Indian electric two-wheeler OEM announced the launch of its electric motorcycle ecoDryft. The motorcycle is equipped with a 3.0 kWh battery, a smart battery management system, Bluetooth connectivity, and a digital instrument cluster. The motorcycle is said to operate in three driving modes with a range of 130 km and a speed of 75 mph and is developed & manufactured in the OEM Hyderabad-based facility.
Electric Motorcycle Market Report Scope
Grand View Research has segmented the global electric motorcycle market report based on, drive type, end-use, battery type, and region
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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