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 - 20

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 is poised to expand at over 3.5% between 2024 and 2032 propelled by rising advancements in battery technologies and the launch of new motorcycle models.

Breakthroughs in battery technology are resulting in improved range, faster charging times, and increased durability of electric motorcycles. To that end, manufacturers are leveraging these advancements to introduce cutting-edge models with enhanced performance and features. For instance, in November 2023, China-based Evoke Electric Motorcycles launched an all-new grand tourer electric motorbike in North America, boasting the demand for longest-range electric motorcycle, with more than 600 kilometers (370 miles) on a single charge. Riders are further attracted to the superior range and power offered by new electric bikes, along with the convenience of quick charging capabilities, thereby accelerating the market expansion.

The overall industry is segmented into motorcycle, motor, horsepower, charging power, battery, end-user, and region.

Based on motorcycle, the street electric motorcycle market is anticipated to witness high demand from 2024 to 2032. The surge in urban commuting and increasing environmental consciousness is prompting consumers to seek electric motorcycles. Street motorcycles offer practicality for daily city commuting, attracting a wide range of riders. Additionally, manufacturers are focusing on sleek designs and performance for catering to the needs of street riders. Government incentives and infrastructure development will further promote the adoption of electric motorcycles.

In terms of end user, the electric motorcycle market from the commercial segment generated substantial revenue in 2023 and is estimated to gain traction from 2024-2032. Businesses and delivery services are increasingly turning to electric motorcycles for their cost-efficiency, environmental benefits, and ease of use in urban areas. Electric bikes offer lower operating costs, reduced maintenance, and zero emissions for aligning with sustainability goals. Delivery companies, courier services, and rental fleets are also using electric motorcycles for efficient last-mile deliveries and transportation, fueling the segment growth.

Given the regional landscape, the Europe electric motorcycle industry size is set to exhibit robust growth between 2024 and 2032 owing to the stringent emission regulations, coupled with government incentives and subsidies. A strong focus on sustainability and environmental consciousness in the region is encouraging consumers to switch to electric vehicles. Furthermore, the well-developed charging infrastructure and an increasing number of charging stations across Europe will provide potential growth opportunities to the industry participants. To cite an instance, in March 2023, LiveWire® announced its debut in the European market, marking an important milestone in its regional development plan and the electrification of motorcycles worldwide.