Automotive

Global E-Bike Market Report, Share, Size and Forecast to 2028

February 11, 2020
ID: SR/AU-07
Format:Pdf
Pages:220

Global E-Bike Market by Product Type(Pedal Assist e-bike, Throttle on Demand e-bike, Speed Pedelec e-bike, Motorcycle e-bike), By Battery Type (Lithium-ion, Lithium-ion polymer, Lead Acid), By Motor Type (Hub Motor, Mid Motor, Friction Drive Motor and Others). By Controllers (Brushed motor, Brushless motor), By Application (Urban City, Trekking/Mountain bike, Sport bike, and others), and Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global forecast from 2020 to 2027

Description

Global E-Bike Market Overview:

The Global E-Bike market was valued at USD 47.2 Billion in 2021, and it is expected to reach USD 89.6Billion in 2028, with a CAGR of 12% during the forecast period of 2022-2028.

Electric bicycle refers to a vehicle with electromechanical integration of motors, controllers, batteries, handlebars, and other control components and displays instrument systems based on ordinary bicycles, using batteries as auxiliary energy. Technological advancement in the field is a crucial factor for the growth of this industry. Initially, electric bikes were considered as foreign concepts, but now as the consumers become more familiar with these technologies, they are spreading fast across the world’s most crowded cities. An increase in the awareness of consumers concerning travel modes that alleviate pollution and transportation woes has been a significant parameter for the growth of electric bikes.

Global E- Bikes Market Insights

Global E-bikes Market growth is going to grow at a significant CAGR during the projected period, 2020-2027. E-bikes market expected to witness the fastest growth rate owing to a considerable step towards cleaner mobility as battery and electric motor helps in controlling pollution and carbon emission for controlling pollution. E-bike’s adoption is increasing every year to reduce the impact of pollution worldwide. According to World Bank, the cost associated with health damage from automotive across the globe is $5.7 trillion, equivalent to 4.8% of global GDP, which leads to 9 million premature death (16% of all deaths worldwide).

Therefore, changing lifestyles toward green and clean mobility is the reason behind the increasing demand for e-bikes as the significant population is gradually shifting towards fitness and focusing more on their mental and physical health. Moreover, e-bikes provide ease in traveling as well as promote fitness for the consumers, and is also suitable for recreational activities, such as mountain trekking, for sports purposes. Additionally, the e-bikes market is majorly captured by youth as fun and travel activities such as adventure sports and cycling up hills helps in refreshing mind and promotes fitness.

Further, the adoption of e-bikes expected to resolve problems such as; short- and medium-distance travel difficulties, oversized bicycles, chaotic city appearances, traffic congestion, potential safety hazards of substandard electric vehicles, and urban environmental exhaust pollution problems in the forecast year.

Growth Driver

Battery based bikes

E-bikes are the new technology that needs to adapt to the product, which is low in carbon emission and saves the environment from polluting. Thus, adopting battery-based bikes will help in reducing the pollution level and maintain sustainability.

Promotes fitness

E-bikes help in making fitness regime more enjoyable and encourage better fitness experience in the form of aerobic and cardiovascular exercise for the people who love to do mountain trekking and cycling. There are various features in-built in the bicycle that track heartbeat, calories, distance, and others, which make it’s smart and safe for the rider and provide a better experience.

Government interest

In the Asia Pacific region, the government of countries has shown interest in the adoption of e-bikes because of the technology edge and potential growth in this sector. Additionally, the government of India had shown interest in providing financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Thus, it helps in promoting and capture a large share of e-bikes in the market.

Product Type Segmental Analysis

Based on Product Type, the global e-bikes Market categorized into Pedal Assist e-bike, on Demand e-bike, Speed Pedelec e-bike, and Motorcycle e-bike. The pedal assists the segment anticipated to lead the market on account of the rising demand for the rapidly growing technology and environmental concern in the Asia Pacific region and many other countries. Additionally, the cost-effectiveness for the e-bikes battery market and hub motor in e-bikes will influence the global e-bikes market.

Motor Type Segmental Analysis

Based on the motor type, the global e-bikes market classified into Hub Motor, Mid Motor, Friction Drive Motor, and Others. The Hub-motor segment projected to lead the growth in the forecast years from 2020-2027. It is owing to the effortless and pleasant ride that improves the efficiency and performance of e-bikes, as it generates more power when associated with torque.

Battery Type Segmental Analysis

Based on the battery type, the global e-bikes market classified into Lithium-ion, Lithium-ion polymer, and Lead Acid. The lead-acid market segment has captured the largest market share and expected to lead in the future market. Due to its easy recycling process and low cost will increase the demand in the market.

Controllers Segmental Analysis

Based on controllers, the global e-bikes market bifurcated into the brushed motor and brushless motor. Brushless motor captured the largest market share in 2019. As brushless motor controllers majorly used in e-bikes as it provides high initial torque, which improves the ride and offers a pleasant experience for the rider. Therefore, this feature will give the edge and will capture the future market as well.

Application Segmental Analysis

Based on the Application, the global e-bikes market classified into Urban City, Trekking/Mountain bike, Sportbike, and others. Trekking/ mountain bike has captured the most significant market and expected to boost in the forecast period. As trekking/ mountain rides are recreational activities that relax the mind and improves fitness. The e-bikes market is majorly captured by youth as it is adventurous and sportive for them.

Region Segmental Analysis

Based on geography, the global E-bikes market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific, especially China, to gain maximum share in the market owing to the technology demand and government initiative to attract major OEMs to manufacture electric two-wheelers in their domestic markets, and with supporting this initiative, the government will also provide financial subsidies to the consumers.

Competitor Analysis

Companies such as Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Aima Technology Group Co., Ltd, Yadea Group Holdings Ltd, Pedego Electric Bikes, Merida Industry Co. Ltd, X- Treme, IZIP e-bikes, Specialized Bicycle Components, Rad power bikes, and Riese & Muller are the key players in the Global e-bikes market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global E-bikes Manufacturing firms
Research organizations and consulting companies
Organizations, associations, and alliances related to E-bikes
Regulatory bodies
Retailers
Suppliers

Recent Developments

In October 2020, Giant Manufacturing established the new Trance X Advanced Pro 29, a full-composite trail bike with updated Maestro rear suspension and a new flip-chip feature that lets riders adjust frame geometry.
In October 2020, Pedego Electric Bikes extended a Pedego Electric Bikes store in Boca Raton, Florida, which delivers a full range of e-bike sales, rentals, services, and accessories.
In September 2020, Sparta declared d-Burst, a powerful new speed pedelec. By submitting its d-series, Sparta focuses on a whole special target group, namely, commuters cycling between their home and workplace. The d-Burst is open as both an e-bike and a speed pedelec with a total capacity of no less than 1,125 Wh.
In November 2019, Pon. Bike developed the Dutch e-cargo bike brand Urban Arrow for an undisclosed sum.

Scope of the Report

Report Attribute	Details
Market size value in 2021	USD 47.2 Billion
The revenue forecast in 2028	USD 89.6 Billion
Growth Rate	CAGR of 12 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The companies include Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Aima Technology Group Co., Ltd, Yadea Group Holdings Ltd, Pedego Electric Bikes, Merida Industry Co. Ltd, X- Treme, IZIP e-bikes, Specialized Bicycle Components, Rad power bikes, and Riese & Muller are the key players.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product Type

Pedal Assist e-bike
Throttle on Demand e-bike
Speed Pedelec e-bike
Motorcycle e-bike

By Battery Type

Lithium ion
Lithium ion polymer
Lead acid
Others(Nickel Metal hydride, Lithium Titanate, Lithium ion Phosphate)

By Motor type

Hub Motor
Mid Motor
Friction Drive Motor
Others

By Controllers

Brushed motor
Brushless motor

By Application

Urban City
Trekking/Mountain bike
Sport bike
Others

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the size of the global E-Bike Market?

The Global E-Bike market was valued at USD 47.2 Billion in 2021, and it is expected to reach USD 89.6Billion in 2028, with a CAGR of 12% during the forecast period of 2022-2028.

Which Motor type is leading the E-Bike Market?

Hub Motor is leading the E-Bike Market.

What are the drivers and opportunities for the E-Bike Market?

The Positive impact of Covid-19, Government support and initiatives, the growing popularity of E-MTB, trends towards connected e-bikes and development of lightweight energy storage systems.

Which companies are operating in the E-Bike Market?

The companies include Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Aima Technology Group Co., Ltd, Yadea Group Holdings Ltd, Pedego Electric Bikes, Merida Industry Co. Ltd, X- Treme, IZIP e-bikes, Specialized Bicycle Components, Rad power bikes, and Riese & Muller are the major companies which operate the E-bike market.

Which segment shows the highest CAGR in E-Bike Market?

Battery Type Segment has shown the highest share in the market.

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