Premium Electric Motorcycle Market - By Product (Sports, Off-road), By Battery Capacity (Below 10 kWh, 10 - 15 kWh, 15 - 20 kWh, Above 21 kWh) & Forecast, 2023 - 2032

Premium Electric Motorcycle Market - By Product (Sports, Off-road), By Battery Capacity (Below 10 kWh, 10 - 15 kWh, 15 - 20 kWh, Above 21 kWh) & Forecast, 2023 - 2032

Premium Electric Motorcycle Market size is projected to expand at 21.8% CAGR from 2023-2032 propelled by the rise in favorable government initiatives.

Supportive policies, tax credits, and subsidies provided by several governments worldwide are encouraging consumers to adopt electric motorcycles. For instance, in October 2023, the European Environment Agency implemented several measures across Europe to support electric mobility. Some of these measures include government investments in charging infrastructure, subsidies for home chargers, and indirect consumer incentives, such as benefits of free or preferential parking and free electrical charging at public stations. Such incentives aimed at accelerating the transition to sustainable transportation will fuel the market growth.

The premium electric motorcycle industry is segmented into product, battery capacity, and region.

Based on product, the market share from the off-road segment is anticipated to gain significant traction between 2023 and 2032. This is owing to the rising demand for eco-friendly and high-performance off-road experiences. Moreover, off-road electric motorcycles increasingly cater to adventure enthusiasts and riders seeking sustainable alternatives for rugged terrains. Higher advancements in battery technology and off-road capabilities designed for challenging landscapes are also contributing to the rising product popularity.

In terms of battery capacity, the premium electric motorcycle industry from the above 21 kWh battery capacity segment generated substantial revenue in 2022 and will witness lucrative growth through 2032. Electric bikes equipped with above 21 kWh batteries offer longer ranges, enhanced performance, and faster charging capabilities. With an increasing emphasis on sustainability and the transition towards electric mobility, premium electric motorcycles with higher battery capacity are set to witness steady demand from enthusiasts seeking cutting-edge technology and superior riding experiences.

Regionally, the North America premium electric motorcycles industry is poised to exhibit 21.9% CAGR from 2023-2032 attributed to the rising demand for sustainable mobility solutions. To illustrate, New York City intends to be the world's most sustainable city by reducing greenhouse gas emissions by 80% by 2050. Additionally, government initiatives for promoting clean transportation are prompting major manufacturers to develop innovative premium electric motorcycles, further augmenting the regional industry outlook. For instance, in May 2023, CAKE, an established Swedish luxury electric motorbike manufacturer, launched its new location in New York City to address the growing need for sustainable transportation in the U.S.