LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global high-performance electric motorcycle market to grow at a CAGR of close to 42% during the forecast period, according to their latest report.
The report further segments the global high-performance electric motorcycle market by motorcycle type (street and off-road) and geography (APAC, Latin America, North America, Western Europe, and ROW).
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global high-performance electric motorcycle market:
- Lower operating and maintenance cost than ICEs
- Growing demand for super sport motorcycles
- Growth in customers confidence due to developed electric car market
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Lower operating and maintenance cost than ICEs
High-performance electric motorcycles have lower operating costs than conventional ICE motorcycles with the same level of performance. In the US, the operating cost of a high-performance electric motorcycle is less than one-fourth of the operating cost of gasoline-driven motorcycles. The operating cost of high-performance electric motorcycles to the operating cost of gasoline-driven vehicles goes even lower in countries with high fuel prices. High-performance electric motorcycles help in saving the cost of fuel and other maintenance charges such as for changing spark plugs and oil and oil filters, with a performance like ICE models.
According to Keerthi Balu, a lead analyst at Technavio for automotive manufacturing research, “High-performance electric motorcycles are low-maintenance when compared with conventional vehicles owing to their simple design. The components and accessories of high-performance electric motorcycles are designed to have a long life. Most of the manufacturers are now focusing on improving the technology and reducing the cost of maintenance to attract more buyers.”
Growing demand for super sport motorcycles
The growth in the sports motorcycles segment is a crucial driver for the global high-performance electric motorcycle market. The zeal to drive high-performance motorcycles and adhere to emission control regulations are pushing customers toward buying high-performance electric motorcycles. Price-sensitivity does affect this market, so the expensive nature of these motorcycles has minimum impact on the growth and revenues. Owing to the growing awareness of the performance level and heritage of super sports motorcycles, consumers are purchasing more, as they are more powerful and efficient than traditional motorcycles.
“The demand for super sports motorcycles is increasing in the global market, owing to racing enthusiasts. This is necessitating high-performance motorcycle manufacturers to make their product available across maximum geographic coverage. The performance and long-term value are also expected to help boost the sales,” says Keerthi.
Growth in customers confidence due to developed electric car market
Companies, such as Tesla, have launched electric cars that are environment-friendly in terms of zero emissions, and more powerful than ICEs. The success of electric cars forced many luxury automakers, such as BMW and Mercedes Benz, to enter the electric cars segment. A similar trend is observed with high-performance motorcycles. Zero Motorcycles is focused on high-performance electric motorcycles and has evolved their product continuously. From 2011 to 2014, Zero Motorcycles quadrupled the mile range, increased the speed by 50%, and increased the horsepower and torque by 150%.
Browse Related Reports:
- Global Buses and Coaches Market 2017-2021
- Light Commercial Vehicle Market in Europe 2017-2021
- Global ATV Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.