EICMA 2024 Highlights: Premium Motorcycles Shine Amid the Growing Shift to Electric

By Federico Biscini, Europe Mobility Advisory Senior Consultant at Frost & Sullivan

From 7-10 November 2024, the Milan Rho Fair Exhibition Centre hosted the 81st edition of EICMA—the world’s most significant 2-wheeler exhibition. This year's event also marked a milestone, celebrating 110 years since the first EICMA show in 1914.

The exhibition brought together over 770 exhibitors from 45 countries, including OEMs, suppliers, accessories manufacturers, helmet and technical clothing producers, and more. With over 600,000 attendees over the course of six days, this year’s EICMA set a new record, making it the most visited edition in the show’s history.

1. Premium OEMs Still Command the Spotlight Amid Hints of Market Shifts

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As EICMA is a key event for unveiling new models to consumers and the press, it was no surprise that major European and Japanese premium OEMs—like Ducati, BMW, Honda, and Yamaha—dominated the show with impressive stands that drew in large crowds.

Ducati, in particular, showcased the latest 2-cylinder versions of its flagship hyper-sport and super-naked bikes: the Panigale and Streetfighter. These updates represent a repositioning of the "entry-level" V2 models compared to the previous generation, creating a wider gap from the top-of-the-line V4 variants. This shift comes with significant technical changes: the new V2 engine now uses a conventional valve system with springs, replacing Ducati's traditional desmodromic system. Additionally, the rear suspension has moved from a single-sided swingarm to a conventional swingarm—a change that also affects the 2025 model year update of the Panigale V4.

The MSRP for the new Panigale V2 and Streetfighter V2 models is around 10% lower than the 2024 versions, which could be a response to a slowdown in Ducati's sales in 2024 compared to the previous year. It will be interesting to see if other premium OEMs follow this trend in the near future.

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2. Honda Anticipates the Next Generation of ICE

Honda showcased the "ICE Concept," a high-tech 3-cylinder engine that hints at the future of internal combustion engines for motorcycles. This unconventional 75° V3 engine is equipped with an electric compressor that pressurizes the airbox. While Honda has not disclosed full technical details, a visual analysis suggests the engine’s displacement is likely between 800-1000cc. Although the power supply for the e-compressor remains officially unknown, it's likely to operate at 48V. These specifications suggest that Honda is laying the groundwork for the next generation of internal combustion engines for premium motorcycles.

The adoption of the e-compressor, likely combined with a variable valve timing system, will be crucial for developing future after-treatment systems. This approach will ensure compliance with forthcoming emissions regulations while maintaining the fun-to-drive characteristics expected from a premium sports motorcycle. If Honda introduces a 48V architecture, it could also pave the way for a mild hybrid system, offering an additional boost in regulatory compliance.

The V3 engine concept was showcased within a striking steel trellis frame featuring a single-sided rear suspension. Honda clarified that these technical elements were for exhibition only and will not be part of the final production model. The first motorcycle to feature this engine is expected to debut as a concept next year, with a potential production-ready version in 2026.

?3. Electric 2-Wheelers Grow in Presence but Have Yet to Break Through

Electric motorcycles continue to face challenges in capturing a significant share of the market. The recent bankruptcy of Italian electric-only OEM Energica underscores this trend. At EICMA, while there was a noticeable presence of electric vehicles, the foot traffic at electric motorcycle booths was modest compared to the crowds drawn by combustion-engine models.

Traditional OEMs are keeping their electric offerings mostly limited to e-scooters and concepts. Examples include Honda’s EV Fun and EV Urban Concept. Royal Enfield took a different approach, launching a new brand called "Flying Flea" dedicated entirely to e-motorcycles, with production planned for 2026. This move aligns with the trend seen in the automotive sector, where established OEMs have launched new EV-only brands, like Volvo with Polestar.

Electric-native OEMs had a notable presence, especially in the off-road segment, with companies like Zero, Ultraviolette, and Talaria showcasing new e-scooters and e-motorcycles. In the premium e-scooter category, Spanish OEM Nerva stood out with the unveiling of the EXE II, featuring BYD’s Blade battery technology with LFP chemistry.

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4. New Micro Mobility Solutions

EICMA 2024 wasn't just about motorcycles and scooters; a wide range of e-bikes and e-kick-scooters were also on display, reflecting the evolving landscape of urban transportation. In addition to two-wheelers, there was a notable presence of electric 4-wheeler exhibitors. Notably, Mobilize, Renault's sub-brand, showcased its portfolio of the Duo family, while XEV introduced the new Yoyo Pro. Citro?n also chose EICMA to unveil the latest generation of its micro-car, the Ami. These vehicles were well-received by attendees, highlighting the increasing interest in affordable urban mobility solutions, often priced below €10,000.

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5. Strong Presence of Chinese Tier-1 Suppliers, Laying the Groundwork for an E2W Future

Halls 6 and 10, accounting for around 15% of the total exhibition space, were almost entirely occupied by Chinese Tier-1 suppliers, with a handful of e-scooter OEMs mixed in. Many other Chinese suppliers were scattered throughout the exhibition, with over 90% specializing in EV components and a smaller number focusing on internal combustion engine parts. Notably, major battery manufacturers were well represented, including BYD, Sunwoda, and CATL, through their respective subsidiaries De.Power and Ampace.

The strong Chinese presence underscored their growing influence in the electric 2-wheeler (E2W) market. During our interactions with representatives from various companies, there was a clear interest in collaborating with European 2-wheeler manufacturers, as well as international OEMs with local production facilities.

Conclusion

Italy remains the largest market for premium motorcycles, a factor that inevitably shapes the dynamics of EICMA 2024. The natural appeal of high-performance super-bikes continues to capture attention, overshadowing the quieter but significant urban commuting segment that constitutes the majority of the 2-wheeler market.

That said, the future is unmistakably electric. Unlike the automotive industry, the transition to battery electric vehicles in the European 2-wheeler sector is unfolding at a slower pace, giving the supply chain—largely driven by Chinese suppliers—time to fully establish itself. This measured growth sets the stage for a more robust expansion anticipated around 2027-2028.

On the flip side, internal combustion engines (ICE) remain a mainstay in the premium motorcycle market. Honda's ICE Concept hints at the next wave of technological advancements, offering a preview of innovations we can expect to see within the next 5 years.

To learn more, reach out to our Mobility Growth Advisory experts via Federico Biscini at [email protected]. For detailed insights into our extensive range of subscription-based Mobility Growth Opportunity Analysis, contact [email protected] to schedule a private briefing.

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