The e-bike market accounted to US$ 35,862.5 Mn in 2018 and is expected to grow at a CAGR of 23.6% during the forecast period 2019 – 2027, to account to US$ 224,014.2 Mn by 2027.
The growing interest in the bicycle’s role in Western urban transport systems. Combining more bicycle-friendly cities with rapid advances in technology has resulted in a dramatic increase in the purchase and use of e-bikes. Improved battery and motor technology, component modularity, as well as economies of scale improvements have meant e-bikes can now travel longer distances, are faster, and are more affordable than ever. A key benefit of e-bikes is that they can maintain speed with less effort. This helps to overcome some of the most commonly cited barriers to traditional bike riding. Bicycle riders suggest that the increased speed and reduced physical exertion are motivating factors for e-bike purchase, allowing riders to arrive at their destination in a comfortable state. The growing acceptance of bike sharing services is expected to create new opportunities for the global E-bike market during the forecasted period.
In APAC, several growing economies in the region support the growth of with a wide variety of sectors such as manufacturing, automotive, and technology. Vehicular emissions are the most significant contributors to the pollution caused in the region. As a result, governments of different countries implemented several schemes and initiatives to catalyze the production of electric vehicles, which substantially reduce environmental pollution due to CO2 emission. The Government of India has announced “The National Electric Mobility Mission Plan (NEMMP) 2020”; this offers a vision along with a roadmap to the manufacturers of e-bikes for faster adoption of electric vehicles in the country. Such above mentioned factors is expected to fuel the growth of E-bike market in APAC.
The European E-bike Market is witnessing remarkable growth for commercial applications. Germany is a home to a large number of automobile manufacturing facilities, which are constatntly focusing on the development of electric vehicles. Further, economically strong countries such as the UK, Spain, the Netherlands, and Italy are instrumental in the development of e-bikes. The automotive sector plays a vital role in growth in the prosperity of the region, with a considerable contribution to the average GDP growth in Europe. The demand for e-bikes in the region is boosting every year; the demand grew by ~35% in 2019, compared to the last year. With the increasing count of e-bikes / electric vehicles, the governments of European countries are making significant developments in their EV charging infrastructure. The presence of these industries is anticipated to influence the E-bike market positively.
The global market for E-bike market is segmented based on the parameters such as battery type, motor type, class, mode, and geography. Based on battery type, the lithium-ion segment dominates the E-bike market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of motor type, hub motor segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Further, based on class, class II segment led the market with the maximum market share. Furthermore, on the basis of mode, throttle mode segment led the market with highest market share in the year 2018. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction. The major companies offering E-bike market include Haibike, Aventon Bikes, Giant Bicycles, Merida Industry Co., Ltd., Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components, Inc., Shimano Inc., Trek Bicycle Corporation, and Yamaha Motor Co., Ltd among others. Many firms are focusing on investing hugely for battery chemistries and enhancing its capabilities and expanding its footprint in various geographies, which is facilitating the market to propel over the years.
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The report segments the global E-bike market as follows:
Global E-bike Market – By Battery Type
- Lithium-Ion Polymer
- Lead Acid
Global E-bike Market – By Motor Type
- Hub Motor
- Mid Motor
Global E-bike Market – By Class Type
- Class I
- Class II
- Class III
Global E-bike Market – By Mode
- Pedal Assist Mode
- Throttle Mode
Global E-bike Market – By Geography
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
- Rest of SAM
E-Bike Market to 2027 - Global Analysis and Forecast by Battery Type (Lithium-Ion, Lithium-Ion Polymer, Lead Acid); Motor Type (Hub Motor, Mid Motor); Class (Class-I, Class-II, Class-III); Mode (Pedal Assist Mode, Throttle Mode)
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