After 2022, the electric motorcycle market will usher in a peak sales period

Analysis of China’s electric motorcycle industry

Electric motorcycles are electric vehicles that use a battery to drive a motor. Electric motorcycles are usually composed of electric drive and control systems, driving force transmission and other mechanical systems, as well as other working devices. The electric drive and control system is the core of electric motorcycles, and it is also a key part of electric motorcycles that are different from internal combustion engine-driven vehicles. Electric motorcycles are a common means of transportation, which can be divided into two-wheeled electric motorcycles, three-wheeled electric motorcycles, electric two-wheeled mopeds, electric three-wheeled mopeds, and so on.

 

Electric motorcycles are motor vehicles. Compared with electric bicycles, electric motorcycles are faster. Compared with fuel motorcycles, electric motorcycles are more affordable and environmentally friendly. In 2021, driven by the gradual implementation of the new national standard, the electric motorcycle market has ushered in a good opportunity for development.

 

In the past ten years, with the upgrading of market demand and increasingly strict environmental protection supervision, the electric motorcycle market has developed rapidly, and has gradually replaced fuel motorcycles to occupy most of the domestic two- and three-wheeled vehicles market share. According to data released by the China Motorcycle Chamber of Commerce, in 2020, the production and sales of motorcycles in China have decrease by 1.98% and 0.38%. Among them, the sales of electric motorcycles is 2,295,400 units, increased 20.91%, forming a sharp contrast with the slight decline in the overall motorcycle industry. In the context of the implementation of the new national standard, it is expected that the production and sales of my country’s electric motorcycle market will maintain a positive growth trend in the next few years.

 

In 2020, the number of registrations of electric motorcycle companies has dropped significantly. However, with the recovery of the domestic economy and the gradual implementation of the new national standard, the number of registrations of electric motorcycle companies has gradually increased. At this stage, the number of registrations of electric motorcycle companies in my country has reached about 44,000. Mainly distributed in Jiangsu, Zhejiang, Anhui, Guangdong, Henan and other regions, among which Jiangsu has the largest number of electric motorcycle companies.

 

The electric motorcycle market is fiercely competitive in China, among which the well-known brands include Zhejiang Lvyuan, Jiangsu Xinri, Dongguan Tailing, Emma Technology, etc. However, due to the strict constraints of standards and regulations, the domestic market for electric motorcycles is limited. In overseas markets, such as Southeast Asia, South Asia, South America, and Africa, the development potential of the electric motorcycle market is greater.

Electric motorcycles are motor vehicles. Compared with fuel motorcycles, electric motorcycles are more affordable and environmentally friendly. In the context of the gradual implementation of the new national standard, the electric motorcycle market has ushered in a peak period of sales. Electric motorcycles are mainly sold domestically and a small amount is used for export. However, with the development of the domestic market, the space for electric motorcycles will shrink, and the overseas electric motorcycle market has greater development potential. Domestic companies should seize the opportunity and actively expand to overseas markets.

 

As the market’s demand for the power performance of electric motorcycles continues to rise and the dual factors of electric motorcycles are being affected, high-power electric motorcycles have gradually become the focus of attention in the industry. Electric motorcycle industry has been booming in the past decade and gradually will replace the fuel-fueled motorcycles which occupied most of the domestic two- and three-wheeled vehicle market, and increased to 2,709,200 from January to November 2020. From January to November 2020, the production volume will be 2.133 million and 576,000 respectively.

 

As electric motorcycles are becoming more and more popular in the consumer market, the development of electric motorcycles is advancing by leaps and bounds, and the number of manufacturers of electric motorcycles continues to increase. Many emerging companies such as Luyuan Group, Emma Technology, and Jiangsu Xinri have appeared on the market. Electric vehicles, etc. According to data from the Automobile Industry Association, from January to November 2020, Zhejiang Lvyuan Electric Vehicle Co., Ltd. produced 605,400 electric motorcycles, followed by Jiangsu Xinri Electric Vehicle Co., Ltd. 516,900.

 

As the country has increasingly strict requirements for energy conservation and emission reduction, the automobile and motorcycle industries are constantly increasing their development and investment in new energy fields. At present, many domestic cities such as Beijing, Shanghai and Hangzhou have successively introduced small buses. Incremental regulation and management policies are aimed at controlling the orderly growth of motor vehicles and improving the quality of the air environment. On the other hand, promoting the use of low- or pollution-free motor vehicles has become an important part of the government’s environmental governance, so it is used as energy saving. Electric motorcycles that are environmentally friendly and can satisfy people’s daily travel have gradually entered the public eye. The sales volume from January to November 2020 was 2.693 million.

The development trend of electric vehicle and motorcycle industry.

 

As the cost of lithium iron phosphate batteries continues to decline, we expect that lithium iron phosphate will completely replace lead-acid batteries in 2023. Due to the better cycle times and greater cost reductions of lithium iron phosphate batteries compared to lithium manganate batteries. We expect that lithium manganate will gradually face the competitive pressure of lithium iron phosphate.

 

In 2020H1 Chinese sales of lithium battery electric motorcycles were 272,000 units, a year-on-year increase of more than three times. The industry is in the early stage. The cargo volume ranks among the top three, estimated to be 140,000, 65,000, and 51,000 respectively, and the industry’s proportions are 22.06%, 9.93%, and 8.46%, respectively. We expect that my country’s electric motorcycle sales will maintain a compound growth rate of about 40% from 2021 to 2023, and lithium-ion motorcycles will maintain a compound growth rate of more than 70%.

 

It would be a great change and opportunity for Zhejiang Senling Motorcycle Co., ltd, and we will seize the chance and promote our own electric motorcycles!