Annual Unit Sales of Electric Motorcycles Are Expected to Grow from 1.1 Million in 2021 to 3.6 Million by 2030
Cost decreases, improvements in lithium ion battery technology, and emissions standards are expected to increase e-motorcycle adoption over the decade
A new report from Guidehouse Insights analyzes the global market for electric motorcycles (e-motorcycles), providing forecasts for sales and market share through 2030.
E-motorcycles have struggled to catch on as quickly as other electric two-wheel vehicles (E2WVs), largely due to the extensive range requirements of consumers. However, the technology holds strong potential over the next 10 years due to increasingly stringent emissions standards, e-motorcycle purchase incentives, and the establishment of low and zero emission zones. Click to tweet: According to a new report from @WeAreGHInsights, global annual unit sales of e-motorcycles are expected to grow from nearly 1.1 million in 2021 to 3.6 million by 2030 at a 14.4% compound annual growth rate (CAGR).
“Despite market challenges, the long-term outlook for e-motorcycles remains promising,” says Ryan Citron, senior research analyst with Guidehouse Insights. “Cost decreases and improvements in lithium ion (Li-ion) battery technology are expected to result in lower cost and higher performing products, while major manufacturers are poised to assume much larger roles in e-motorcycle product and technology development over the coming decade.”
According to the report, battery swapping and fleet electrification also offer opportunities for accelerated growth of the e-motorcycle industry. Regionally, China dominates the e-motorcycle market, accounting for 90% of e-motorcycle unit sales today. This figure is expected to reduce to 42% by 2030 as sales in other countries grow far more quickly, with most of the new growth expected to come from India, other areas within Asia Pacific (i.e., Vietnam, Thailand, and Indonesia), and Europe.
The report, Market Data: Electric Motorcycles, examines the global market for e-motorcycles. The study provides a detailed analysis of the market opportunities, key drivers and barriers of growth, and technology trends associated with e-motorcycles. Forecasts are provided for gas-powered motorcycle sales and e-motorcycle unit sales (segmented by peak motor power level), market share of the total motorcycle market, revenue potential, and average transaction prices. Guidehouse Insights also provides estimates for e-motorcycle manufacturer market share in North America and Europe. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Market Data: Electric Motorcycles, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.