There’s a big change happening in the motorcycle industry as more and more people are getting into electric scooters and bikes. With everyone caring about the environment these days, governments giving people reasons to buy electric motorcycles, and cool new tech making electric bikes better, it’s no wonder the demand is growing fast.
We checked out three recent reports to see what’s going on in the electric motorcycle industry and what it means for motorcycle enthusiasts, biker culture, and the broader motorcycle industry.
Governments Help Electric Bikes Zoom Ahead
Fans of shows like Sons of Anarchy and classic motorcycle movies might be surprised by the rising popularity of electric bikes. But, as governments help electric bikes zoom ahead, the market is shifting.
A report from Prescient & Strategic Intelligence says the electric scooter and motorcycle market in North America is worth about $620 million in 2022. Another report by the same group estimated the global market to be $24 billion in the same year, making North America only 2.6% of the global market.
But the market is expected to grow a lot – around 18% every year – between 2022 and 2030 according to the reports, making it worth around $2,348 million by 2030. One of the big reasons for this is that governments in North America are helping out to grow their presence in the market. They’re giving people money off, tax breaks, and other cool stuff like special lanes and easier licensing if they go electric.
New Tech and Money Make Electric Bikes Even Better
There’s been a lot of money put into making electric scooters and bikes better, and it’s paid off. Some companies are focusing on shared electric bikes that you can rent with an app. One example is Lime, which wants to spend $50 million to grow its shared electric bike business.
Recently, Lime partnered with the City of St. Petersburg, Florida, to launch a fleet of 300 Lime Gen4 e-bikes in the downtown area and surrounding neighborhoods. The industry reports talk about how better batteries and electronics have made electric bikes faster, able to go further, and quicker to charge. These improvements are reflected in the St. Petersburg programs, as the Tampa Bay Times reports that the Lime electric bikes can travel up to 25 miles on a single charge at a rate of 15 mph, similar to an electric scooter’s speed.
Sharing Services and Solving Traffic Jams
A huge part of the electric scooter and bike market is sharing services, like the program in St. Petersburg. Those services are expected to be worth 82% of the market by 2030 according to Prescient & Strategic Intelligence. People love these services because they are easy to use and allow for bike adventures that are cheap and better for the environment.
According to the National Association of City Transportation Officials (NACTO), Americans took 136 million trips on shared bikes, e-bikes, and scooters in 2019. That’s 60% more than in 2018!
Kick Scooters: The Top Dog
When it comes to sales, electric kick scooters are leading the pack. They made up 63% of all sales in 2022. People love them because they’re cheap, eco-friendly, and easy to use. Plus, they don’t cost much to run, which makes them great for shared fleets.
But it’s not just scooters that are going electric – even Harley-Davidson has entered the electric market with its LiveWire model.
Looking Ahead: Long-Range Electric Motorcycles
Even though bikes and scooters with small batteries were the most popular in 2022, people are starting to want electric motorcycles with bigger batteries that can go further. Another report by 360 Market Updates suggests that many large motorcycle brands want to capture “the lucrative opportunities that are present in the ever-growing market.”
This could be a big thing in the next few years, giving motorcycle fans, even more, to get excited about. And while the exhaust notes of traditional motorcycles might be missed, electric bikes offer a new kind of riding experience that many are starting to adopt.
Electric Bikes and Scooters in the Motorcycle Industry
The electric scooter and motorcycle industry is transforming the way we think about and experience motorcycles. Electric scooters and motorcycles are only going to get bigger and better. We expect to see more events and adventures centered around the new varieties of two-wheeled vehicles.
With help from governments, cool new tech, and the growing popularity of sharing services, electric bikes are becoming more popular and better for riders. While it may take some time to come to fruition, it’s a pivotal time for the motorcycle industry, as things charge forward into a shared future that includes both electric and traditional rides.
Leave a Reply