Global High-Performance Electric Motorcycle Market 2020-2024| Development of Hubless Electric Motorcycles to Boost the Market Growth| Technavio
LONDON--(BUSINESS WIRE)--Nov 14, 2019--
The global high-performance electric motorcycle market size is expected to post a CAGR of over 35% during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global high-performance electric motorcycle market 2019-2023 (Graphic: Business Wire)
Electric motorcycles market has been witnessing a rapid adoption of advanced technologies in vehicle control units, instrument clusters, and other significant features. In addition, modern motorcycles are being equipped with an electrical anti-lock braking system (eABS) to limit the maximum regenerative torque in cases of slippery roads. This has encouraged several well-established motorcycle manufacturers to enter the high-performance electric motorcycles market to offer high product differentiation and gain a competitive edge over the other counterparts in the market. Thus, the technological advances in high-performance electric motorcycles will drive the market growth during the forecast period.
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As per Technavio, the development of hubless electric motorcycles will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
High-performance Electric Motorcycle Market: Development of Hubless Electric Motorcycles
Electric motorcycles are often manufactured with either mid-drive motors or in-wheel drive motors. In-wheel motors offer several advantages over mid-drive motors. However, they are not efficient enough to provide the same power and speed as mid-drive motors. As a result, to obtain high-performance with minimal power loss, electric motorcycle manufacturers are launching a new design wherein the motor is on the wheel rim, eliminating the hub from the wheel. Furthermore, the electric motor is integrated into the fairly large frame of the rim, allowing high power generation. The power generated is further transferred through electric cables housed near the rear wheel rim. Thus, this growing trend of integrating in-wheel motors in hubless electric motorcycles will drive the global high-performance electric motorcycle market during the forecast period.
“Other factors such as government support for the adoption of electric vehicles, emerging trend of all-electric motorcycle racing, and major motorcycle OEMs venturing into the electric motorcycle market are expected to boost the high-performance electric motorcycle market growth during the forecast period, ” says a senior analyst at Technavio.
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High-Performance Electric Motorcycle Market: Segmentation Analysis
This market research report segments the high-performance electric motorcycle market by type (street and off-road) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2019, followed by North America, APAC, South America, and MEA respectively due to the high level of support from governments in the form of subsidies and incentives in countries including Germany, France, Italy, and among others. Furthermore, the entrance of various motorcycle manufacturers into the European electric motorcycle market is expected to positively impact the high-performance electric motorcycle market growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: MOTORCYCLES PERFORMANCE & SPECIAL INTEREST AUTOMOTIVE ALTERNATIVE VEHICLES/FUELS
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 11/14/2019 10:30 AM/DISC: 11/14/2019 10:30 AM