E-Motorcycle Product Report

News: Motorcycles

2023-10-23

E-Motorcycle Product Report

Motorcycle purists either love them or hate them, but electric motorcycles are fast becoming a popular reality.  From daily commuters to off-roading to track racing, we’ve seen all kinds of electric bikes hit the road over the past couple of years. There’s an increasing array of e-bikes catering to riders of all shapes, sizes, and kinds coming to market.

Here is a small sample of some of the leading OEMs and their electric motorcycle products.

Can-AM/BRP. The first Can‑Am motorcycles are expected to hit the road before the end of 2024. The Canadian Can-AM team is testing bikes in all possible usage conditions, and early feedback from test riders is that two new models deliver a powerful and smooth riding experience. The models include the Can-Am Origin dual-sport and Can-Am Pulse street bike, both slated to launch in mid-2024. Both models are still undergoing testing while construction is underway for a new plant in Querétaro, Mexico, which will produce the electric bikes.

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2023-09-16

Ridesharing Giant Gojek Converting Vehicles To EVs

SOUTHEAST ASIA: INDONESIA REPORT

Indonesian ridesharing giant Gojek plans to convert all its motorcycles to EVs by 2030. The adoption of EV motorcycles is now in full swing in Indonesia, the largest motorcycle market in Southeast Asia with annual sales of more than 5 million units.

Gojek, the country’s leading ridesharing and delivery company, is said to have over 2 million registered riders, including both motorcycles and cars. The full conversion to EV bikes is expected to contribute significantly to the Indonesian government’s goal of 9 million EV bikes by 2030.

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2023-06-19

Global Electric Scooter Market Could Reach $56B in 2033

GLOBAL REPORT
Michael Aistrup
Michael Aistrup

The global electric scooter market is growing at a rate that will enable it to surpass $56 billion by the end of 2033, according to a forecast by. Power Systems Research. The forecast predicts a projected growth rate of 9.72% by 2033.

This high growth rate is attributed to the rising demand for electric vehicles because of the increasing worldwide population.

An Electric Vehicle (EV) is a vehicle that runs on electricity/battery power. Electric vehicles have low running costs due to fewer moving parts and are environmentally friendly as they use little or no fossil fuels. Some EVs use lead-acid or nickel-metal hydride batteries, but lithium-ion batteries are now used in battery-powered electric vehicles for their long life, excellent energy storage, and low self-discharge rate.

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2023-04-18

Honda Plans Personal Electric Motorcycles

JAPAN REPORT

Honda said it plans to produce a motor-driven electric motorcycle for individuals in Japan by the end of 2023. This will be the first time Honda produces a product for the public in Japan.

Overall, Honda said it plans to launch more than 10 models of electric motorcycles worldwide by 2025. Their goal is to increase overall sales, including pedal-powered and electric bicycles, mainly in China and India. The company plans to increase its sales to 3.5 million units worldwide by 2030, more than 20 times the 2021 level.

The EM1e electric scooter was unveiled March 17, 2023, in Japan. It has a cruising range of approximately 40 km and uses replaceable batteries. The price is expected to be higher than gasoline-powered scooters with a displacement of about 50 liters. The company plans to launch the moped equipped with pedals that can be pedaled with the feet, and five other motorized bicycle models in China, Southeast Asia, Europe, and Japan by 2024.

Electric motorcycles face the problem that on-board batteries are expensive and production costs are more than 50% higher than those of internal combustion engine models. Honda plans to increase its global sales to 1 million units by 2026, and further to 3.5 million units by 2030. However, demand for internal combustion engines is strong in emerging countries, and Honda intends to maintain its annual production capacity of 20 million two-wheeled gasoline vehicles until 2030.

Source: The Nikkei

PSR Analysis: Honda is finally bringing an electric model to the consumer market. Yamaha already sells the E-Vino to individuals. Harley is spinning off its electric motorcycle division to attract investment, and India’s Hero will release its VIDA electric motorcycle in 2022 and is working with a U.S. company to develop new products.

All companies are very ambitious about electric motorcycles, but there are still many challenges to be overcome before they become widespread. As a first mover example, Taiwan’s Gogoro is doing well by developing a network of battery exchange stations. Honda’s EM1e is equipped with a single replaceable battery, and by taking the battery pack home after use and recharging it at a power outlet at home, the vehicle can start running the next day with a fully charged battery.

The handle makes the battery look easy to carry, but at 10.3 kg, it may be difficult for women to accept it. The spread of battery exchange station networks like those in Taiwan has just begun in Japan, and charging stations in urban areas are still in their infancy. PSR

Akihiro Komuro is Research Analyst, Far East and Southeast Asia for Power Systems Research

2023-02-20

Global Motorcycle Market Grows at 5.48% Rate

GLOBAL REPORT
Michael Aistrup
Michael Aistrup

The global motorcycle market is growing at a healthy CAGR of 5.48%, according to Power Systems Research. Revenue for 2021 was approximately $107.1 Billion and projected to be $146.6 Billion by 2030.

Growth during this period is primarily due to increasing demand from China, India, and ASEAN countries. In addition, growth in traditional markets such as Europe and North America is also anticipated.

The growth of drivers for the Motorcycle industry come from the requirement for cost-effective private transportation among people around the world.

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2022-11-15

Korean Electric Motorcycle Maker Builds Factory in Vietnam

FAR EAST: SOUTH KOREA REPORT

Zio Holdings, a South Korean company engaged in the production and sale of electric motorcycles, says it has completed an electric motorcycle factory in Bac Ninh Province in northern Vietnam.

The factory covers an area of 1,300 m2 and has an annual production capacity of 12,000 units. The factory will receive parts supplied from original brand factories in Vietnam and China and will assemble the parts at ZIO EV’s factory in Vietnam.

The electric bikes to be manufactured at the new factory will be named “EDEN” and “MEVOYEZ,” and will use LFP batteries (lithium-ion iron phosphate batteries). The maximum speed is 55Km/h, and the driving range is over 150km. The selling price is expected to be 30 million VND (approximately 176,000 yen).

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Powersports Market Expected To Exceed US$ 50 Billion

Power Systems Research is forecasting global revenue for the Powersports industry to grow from $31.5 billion in 2020 to US$ 50.91 billion in 2030, a CAGR of 6% over the forecasted period.

Global Powersports Market
All-Terrain Vehicles, Side-by-Side, Powerboats, Snowmobiles and Heavyweight Motorcycles

Drivers-of-Demand. There are many factors driving the global powersports market growth:

  • Increased all-terrain vehicle popularity.
    • These include the rising participation in recreational activities, like surfing, off-road driving, and snowmobiling.
    • According to the International Snowmobile Manufacturers Association around $36 Billion is spent directly and indirectly on snowmobiling in the US and Canada each year.
    • ATVs have lesser age restrictions, lower maintenance costs, are easier to maneuver due to low vehicle weight and are more affordable
    • Rise in use of powersports to boost adventure tourism traveling to new locations for gaining new experiences, with controlled risk components and personal challenges in wild & exotic environments.
    • People are raising the bar for racing by introducing new terrains and challenges.
    • The market in Europe is expected to showcase exponential growth backed by government policies that promote recreational and off-road leisure activities.
    • Global governmental initiatives to boost the tourism industry by assisting recreational clubs in enhancing their service offerings are creating a favorable environment for the market participating in the construction of dedicated infrastructure for recreational and amusement purposes.
  • Technological innovations have played a major role in developing vehicles.
    • New products have increased comfort, power, engineering, and safety.
    • Utility-terrain vehicles (UTVs) have improved durability and adaptability for off-road riding.
    • Growth in investments and rapid innovations in the automotive sector have resulted in improved performance of powersports vehicles. This has resulted in improved vehicle efficiency, reduced noise and higher power of vehicles. Companies are also focusing on developing electric products for quieter more powerful riding.
  • Growing consumer disposable incomes make it easier for customers to purchase leisure and recreational power equipment.
  • Data prepared by the U.S. Bureau of Economic Analysis (BEA) show that outdoor recreational activities accounted for US$ 374.3 billion in 2020, which is 1.8% of the overall U.S. GPD in 2020.
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2022-09-28

Honda To Discontinue Two-Wheeled Gasoline Vehicles

FAR EAST: JAPAN REPORT

On Sept. 13, 2022, Honda announced it will eliminate gasoline-powered motorcycles by the mid-2040s. All new vehicles will be EV motorcycles; 3.5 million, or 15% of global sales, are to be EV motorcycles by 2030. Honda has already declared that all its four-wheeled vehicles will be EVs by 2040, but this is the first time the company has laid out a concrete strategy for decarbonization on two wheels.

From now on, Honda will pursue electrification exclusively with EVs. First, it will launch at least 10 EV motorcycle models by 2025. Since investment in new vehicle development and production facilities will be a heavy burden, Honda will use a common platform for batteries, motors, and other components for three large motorcycle models to be launched in Japan, the United States, and Europe between 2024 and 2025.

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2022-06-25

Market Intelligence: A Review of E-Motorcycle OEMs

NORTH AMERICAN REPORT
Michael Aistrup
Michael Aistrup

The global e-motorcycle market is changing almost daily as market share leaders develop new products and new companies continue to enter the market with competitive products. Here’s an update on several leading e-motorcycle OEMs.

Tork Motors has launched the Kratos electric motorcycle in the Indian market. The new Tork Kratos will be sold in two variants – Standard and R and will be available across India in a phased manner. In the first phase, this e-motorcycle will be available in Pune, Hyderabad, Bangalore, Chennai, Ahmedabad, and Delhi. The electric motor on the base model makes a peak power output of 7.5kW or 10.05bhp and a maximum torque of 28Nm. Tork has a manufacturing capacity to make about 500 units a month at its pilot plant and about 4,000 units a month at its new plant at Chakan near Pune.

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E-Motorcycles Market Update

NORTH AMERICAN REPORT
Michael Aistrup
Michael Aistrup

The global e-motorcycle market has experienced high growth in the last couple of years, fueled in part by the declining price of Lithium-ion batteries. The battery is one of the most expensive components of an e-motorcycle, and changes in the price of Li-ion batteries affect the entire cost of an e-motorcycle. The cost of Li-ion batteries has been steadily declining, and this trend is likely to continue.

Power Systems Research has forecasted the global CAGR for electric motorcycles, at 11% for the years 2022 – 2027.

Drivers-of-Demand for this forecasted growth are:

  • Increased environmental concerns.
  • Higher fuel efficiency of e-motorcycles compared to conventional motorcycles.
  • Increased demand for sustainable transportation.
  • New incentive programs for e-motorcycles driven by government units.
  • Advancements in technology such as high-speed handling, smaller/compact size, quicker acceleration, and reduced motor weight.
  • Introduction of fast-charging stations.
  • COVID-19 virus played a vital role in increasing the demands for the e-motorcycle. Pandemic halted the manufacturing of vehicle components and OEM parts for conventional motorcycles and available e-motorcycles in the market became the first choice among the consumers.
  • Expanding dealer and distributor network promoting the e-vehicle and its advantages.
  • Consistent research and technological advancements in the automobile industry to provide advanced technologies to e-motorcycles

Two factors hampering the growth of the market are the comparatively higher initial cost for e-motorcycles and the lack of a developed charging infrastructure. PSR

Michael Aistrup is Senior Analyst specializing in Recreational Products at Power Systems Research