SINGAPORE Electric Motorcycle Market, By Voltage, 2017-2030(US$ Mn)
Synopsis
The above chart is SINGAPORE Electric Motorcycle Market, By Voltage, 2017-2030(US$ Mn)
Market Dynamics
the demand for electric motorcycles in singapore has witnessed a significant increase in recent years, owing to the rise in environmental concerns and the government's efforts to promote sustainable transportation options. according to the latest market research report, the singapore electric motorcycle market, categorized by voltage, is expected to grow at a considerable rate from 2017 to 2030.
the market is mainly segmented into three voltage types - low (24-49v), medium (48v) and high (60v and above). the low voltage segment is anticipated to dominate the market during the forecast period, owing to the increasing popularity of low-powered bikes for urban commuting. these bikes offer a top speed of up to 50 km/h and have a lower weight and cost compared to medium and high voltage motorcycles.
moreover, the singapore government has introduced various incentives, such as tax rebates and registration fee waivers, to promote the adoption of low-emission vehicles, further boosting the demand for low-voltage electric motorcycles. the reduced maintenance and operational costs of these bikes are also driving their demand, making them a preferable mode of transportation for daily commute in the country.
however, with the increasing demand for high-performance electric motorcycles, the medium and high voltage segments are expected to witness significant growth in the coming years. these bikes offer better speed and power, making them suitable for longer distances and rough terrains. manufacturers are also focusing on developing advanced battery technologies to improve the range and performance of these motorcycles, further propelling the demand for medium and high voltage bikes.
additionally, the increasing government initiatives to develop a robust electric vehicle charging infrastructure in the country are expected to boost the demand for high-voltage electric motorcycles. the availability of fast-charging stations would eliminate range anxiety and promote the adoption of high-voltage electric motorcycles for intercity travel.
in conclusion, the singapore electric motorcycle market, by voltage, is expected to witness significant growth in the coming years, driven by the rising concerns for air pollution, government initiatives, and technological advancements in the industry. the increasing popularity of low-emission vehicles and the availability of incentives and subsidies are also expected to propel the market growth.