Electric Motorbikes are on the Rise
Last year, a study by Infiniti Research Ltd forecasted a 42% growth in the electrical motorcycle market within 5 years. This year, Statista predicted that global electronic bikes sales will reach approximately 40 million units in 2023.
(Image taken from DGiT)
Motorcycle companies ranging from the likes of Harley Davidson to Royal Enfield have all announced that they will be planning electric bike projects in the near future.
A researcher had pointed out that a common trend in the motorcycle market is the development of long-mile range motorcycles. “High-performance electric motorcycles are the known for their power and mile range. Although their mile range is quite larger than low-powered motorcycles, it is not enough for premium pricing. Hence, OEMs are continuously working toward the development of battery technology so that mile- range bridge between these motorcycles and ICE counterparts is reduced,” he explained.
(Image taken from Cool Hunting)
One of the most important factors attributing to the rise of e-bikes is perhaps the decreasing battery prices. Batteries are, quite obviously, a factor input for these electric motorbikes, determining the mile range and charging time for the vehicles. In fact, they reportedly take up about 25% of the total cost of production in these electric motorcycles and hence have strong effects on the profitability rates of the bikes. Furthermore, the market is expecting continuous improvement in the development of battery technology.
(Image taken from Zero Motorcycles)
China is expected to lead the sales in electric motorbikes, with 35 million units projected to be bought by them in the next half a decade. As for the US and Europe, the markets there are expected to grow as well, with about 6 million units sold on those shores.
How electrifyingly exciting.