The electric motorcycles market is predicted to grow at a 10.35% CAGR between 2018- 2025, states the recent Market Research Future (MRFR) analysis. An electric motorcycle, simply put, is a motorcycle that runs on electricity and works through a motor. This vehicle has been specially designed for higher speeds and has high-speed handling characteristics & enhanced acceleration. Electric motorcycles are ideal for highway speeds & beyond or slow urban commutes.
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Various factors are propelling the global e-motorcycles market share. According to the recent MRFR report, such factors include the entry of several top original equipment manufacturers, falling battery prices, low maintenance, and operational costs, depleting oil reserves worldwide, initiatives by the government to adopt green vehicles, and growing investments in car charging infrastructure. Additional factors adding market growth include growing interest from large scale manufacturers, incorporation of low noise levels, regenerative braking, high mechanical efficiency, and comparatively economical maintenance costs, growing adoption of eco-friendly cars.
On the contrary, high vehicle cost, lack of charging infrastructure, limited accessibility of electric motorcycles, limited battery capacity, performance constraints, and lack of awareness are factors that may limit the global electric motorcycles market growth over the forecast period.