Market Intelligence: A Review of E-Motorcycle OEMs

News: Power Systems Research

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

Cummins Develops Hydrogen-Powered Engines

NORTH AMERICAN REPORT
Chris Fisher
Chris Fisher

Cummins, Inc., is working to develop hydrogen-powered engines, using approaches for  Hydrogen combustion engines and hydrogen fuel cells.

Both hydrogen engines and hydrogen fuel cells are better suited for long haul and many regional-haul truck applications than pure battery electric vehicles.

In North America, Cummins plans to introduce hydrogen internal combustion engines across their existing engine platforms starting in 2024. 

Read The Article

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2022-06-13

Power Systems Research Expands Forecast Capabilities and Focus on Technology Adoption 

Guy Youngs Joins PSR Team
Guy Youngs
Guy Youngs

Power Systems Research (PSR), a leading source of global production and forecast information for powered equipment, has expanded its capabilities with the addition of Guy Youngs, an experienced market intelligence specialist.

Youngs, who has more than 30 years’ experience as an industry market analyst, most recently spent 11 years working for Perkins Engines in the United Kingdom.

While at Perkins Engines, he led the development of important forecast tools, including the creation of a Market Model used by Perkins Engines’ global team as a single source for its market analysis and planning efforts.

At PSR, Youngs will assume the new role of Forecast and Technology Adoption Lead. He will be responsible for continuing to develop and adapt PSR’s industry forecast, overseeing the rate of technology adoption of alternative power sources into the future outlook and technology mix. 

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2022-05-23

Komatsu Announces Expansion in Brazil

BRAZIL/SOUTH AMERICA REPORT  
Fabio Ferraresi
Fabio Ferraresi

Komatsu announced planned investment of US$ 30 million (R$ 158 M) for a second cycle of production capacity expansion of its Suzano Plant in Brazil. According to Komatsu, production capacity will be increased 26%. Komatsu has invested US$ 20 million (R$ 100 M) during the last three years for 32% capacity expansion and improvements in safety and environmental impact.

Source: M&T Magazine      Read The Article

PSR Analysis: The expansion meets Komatsu and Brazilian CE market growth during the last three years and the forecast for growth in the coming years. Komatsu has been producing strong business in Construction Equipment and especially in mining equipment in Brazil. Komatsu has been emphasizing high value added products in service and after sales. PSR

Fabio Ferraresi is Director-Business Development, South America, for Power Systems Research

Agrishow 2022 Sells US$ 5 Billion in Ag Equipment

Following two years with the show canceled because of COVID-19, the 2022 edition of the biggest agricultural segment trade show reached US$ 5.5 Billion (R$ 11.2 Billion) in equipment sales, including Agricultural Machines, irrigation equipment and storage equipment. A total of 193,000 people visited the show, including our team of PSR representatives in South America. This year’s sales are 287% over the R$ 3.9 Billion sales posted in 2019.

Source: Info Money    Read The ArticlePSR Analysis: The result indicates the continuous growth of the Agricultural Equipment Market and the overall Agricultural Business in Brazil. A record harvest is expected in 2022 with 6.4% increase forecasted over 2021. The forecast for next 10 years is more crops with higher productivity–that means more technology with new machines.  PSR

Fabio Ferraresi is Director-Business Development, South America, for Power Systems Research

PMI Electro To Set Up EV Manufacturing Plant in Maharashtra

INDIA REPORT 

Aditya Kondejkar

Electric bus maker PMI Electro announced the setting up of its largest EV manufacturing plant with annual production capacity of 2,500 vehicles at Chakan in Maharashtra.

Source: Economic Times       Read The Article

PSR Analysis: PMI operates a manufacturing facility in Delhi, India’s capital region, which has an annual production capacity of about 1,500 electric buses. With the planned facility in Pune, the total annual manufacturing capacity of PMI will grow to 4,000 electric CVs, the company said. The new plant will be capable of manufacturing electric CVs in multiple variants as well as electric trucks.

The company said it has received an order size of 1,000 electric CVs (Commercial Vehicles) under FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme of the central government. PSR

Aditya Kondejkar is Research Analyst – South Asia Operations, for Power Systems Research

Vietnam’s Dat Bike EV Motorcycle Enters SE Asia

SOUTHEAST ASIA: VIETNAM REPORT

Vietnamese electric bike manufacturer Dat Bike says it has raised $5.3 million. This brings the total raised by Dat Bike, founded in 2019, to $10 million. The funds will be used to invest in technology, increase production, expand operations to major cities in northern, central, and southern Vietnam, and hire skilled workers.

Dat Bike is a tech startup that plans to promote environmentally friendly transportation, first in Vietnam and then soon in Southeast Asia. The company’s strength lies in the performance of its electric bikes compared to gasoline-powered bikes. The company achieves this through vertical integration, in which key components such as speed controllers and batteries are designed and manufactured in-house.

The company currently sells two products: the Weaver, launched in 2019, has an output of 5 kW, about three times that of most electric bikes in the same price range. It has a range of 100 kilometers, about twice as long as competing models.

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Hyundai Sells More Than 800 EVs at Indonesia Auto Show

FAR EAST: SOUTH KOREA REPORT

Hyundai Motor Indonesia (HMID) said it has signed contracts for more than 800 units of the Ioniq 5 EV announced at the Indonesia International Motor Show (IIMS) Hybrid 2022 in Jakarta.

The company announced that it has started mass production of the Ioniq 5 and that it will begin shipping to dealers in April. The Creta SUV was the second most sold model after the Ioniq 5, with approximately 600 units sold, bringing the total number of vehicles sold to over 1,500, including EVs and gasoline-powered vehicles.

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MEGURI2040: The Fully Autonomous Ship Program

FAR EAST: JAPAN REPORT
Akihiro Komuro
Akihiro Komuro

The Nippon Foundation, Mitsubishi Heavy Industries Group company Mitsubishi Shipbuilding Co., Ltd., and Shin Nihonkai Ferry Co., Ltd. have successfully completed a demonstration test of the world’s first fully autonomous ship navigation systems on a large ferry, conducted on the Iyonada Sea from Shinmoji, Kitakyushuu City, in January.

This demonstration was part of MEGURI2040, a fully autonomous ship navigation project launched by The Nippon Foundation in February 2020.

Japan’s declining birthrate, aging population, and shrinking population have resulted in labor shortages in many fields. Seafarers in coastal shipping, which requires hard work on board, are no exception. More than half of the seafarers in coastal shipping are over 50 years old, which poses a major challenge.

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