Study Predicts Huge Increase In Electric Motorcycle Sales By 2023

MAY 21 2018 BY RIDEAPART.COM 8

Industry trends forecast the sale of approximately 40 million electric motorcycles in the next half-decade

Back In October of 2017, we told you about the growth occurring in the electric segment, but in the last six months the market has taken off even more. Harley-Davidson—which is poised to debut its first e-offering—teamed up with Alta Motors to tap the San Francisco-based EOEM’s tech. MV Agusta announced that it’s reviving the Cagiva name by marketing its new electric range under the dormant moniker. Yamaha is one of many Japanese companies investing heavily in electric powertrains. Kymco is investing in an entire urban charging ecosystem for its e-models, and even the traditional Royal Enfield has said it will be unveiling an electric bike in the near future. So when Statista recently announced forecasts stating that global e-bike sales will reach approximately 40 million units sometime in 2023.

MORE ELECTRIC NEWS: Harley says a fully electric model is only 18 months out

One major factor influencing this projected figure is China, which is expected to be the planet’s majority buyer of electric bikes with projections expecting almost 35 million units sold in the next half-decade’s time. If you do the math, that means only six million of the total units sold will be on US and European shores. That’s still a lot of electric bikes though, and the two latter-mentioned markets are also expected to grow along with the Chinese market.

Unsurprisingly, one of the strongest forces in the entire e-market equation is urban (and suburban) areas. An increasing amount of electric two-wheeler sales are coming from scoot-sharing services like BMW’s DriveNow program, or the San Francisco-based Scoot Network e-scooter sharing offering. Both of these services, in addition to buying large fleets of bikes, also serve as a sort of motorized, two-wheeled test-drive, introducing the non-riding public to life on two-wheels. The number of EV startups risen sharply for the last couple years as well, and signs point to that trend only intensifying.

MORE NEW E-MACHINES: Campagna’s new electric T-Rex

Photo by Tim Huber

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8 Comments on "Study Predicts Huge Increase In Electric Motorcycle Sales By 2023"

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“Predictions are difficult, especially when they are about the future.”
Dr. Richard Feynman

Surely You’re Joking, Mr. Feynman!

Ha!

“Survey Says”,
That this study does hopefully consider The upcoming Arcimoto SRK FUV into their optimistic equation!

35 million by 2023. If they build it will sell. They didn’t even mention countries like India, Taiwan, Vietnam, heck all Southeast Asia. Then look at South America and Mexico. If they produce good quality EV bikes for a good price the demand is enormous. I’m not talking about those $20,000 bikes, those are for people with more money than they know what to do with.

Evoke motorcycles based in Hong Kong says the Chinese market does not favor motorcycles, but prefers scooters. They are looking at North America as their market.

That report is misleading, since it uses the word “motorcycle” to mean “powered 2-wheel vehicle without pedals”.
Actual motorcycles as the term is understood in developed countries are going to be just a rounding error in those numbers. The rest are all e-scooters and e-mopeds.

The problem is that there is no one universally desirable motorcycle format.

Some riders prefer the tucked in position, while others prefer cruisers. Then there are also baggers and standards as well.

The company that succeeds will be able to wrap their technology with bike that appeals to each type of rider.
Sure, the central mechanics can be the same, but very few riders I know want the same exact bike as their neighbor.