E-Bike Market (By Class: Class-I, II & III; By Battery Type: Li-Ion, Li-Ion Polymer, Lead Acid; By Motor Type: Mid, Hub; By Mode: Throttle, Pedal Assist; By Usage: Mountain/Trekking, City/Urban, Cargo; By Speed; By Component) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global E-Bike market was valued at USD 41 Billion in 2021 and is expected to reach USD 118.7 Billion by 2030, registering a CAGR of 11% from 2021 to 2030.

E-Bike Motor is the prime motive force or engine of E-Bike. A variety of motors can be deployed in E-Bikes depending upon the power requirement, which further depends upon the type of application.

The Asia Pacific region is expected to be the largest market for e-bikes during the forecast period. In this region, India, Japan, South Korea, and Taiwan are potential markets owing to the increasing e-bike sales in these countries. China accounts for about 85% of the global market, while Europe and Japan account for about 10% and 2%.

Growth Factors

Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the electric bike market growth.

Globally, the mountain/trekking e-bike segment is expected to be the fastest-growing segment during the forecast period

The mountain e-bike is expected to account for a significant share of the e-bike market during the forecast period due to its robustness and high-performance design. Class I e-bike is expected to be the largest market during the forecast period as countries such as China, Japan, South Korea, and Taiwan allow only class-I e-bikes as they are without throttle assist and have a maximum speed of 25 Km/h.

The demand for mountain/trekking e-bikes is growing rapidly as consumers increasingly show interest in trekking and recreational activities. There is a growing interest in performance-based adventurous sports, which, in turn, increase the demand for mountain/trekking e-bikes.

Sports and physical activities are becoming more adaptable through electric motors. In many countries, mountain e-bikes are not only used for mountain trekking but also for daily commutation. The main reason for the growing popularity of mountain e-bikes is their robustness.

The lithium ion battery segment is projected to lead the electric bike market

The lithium ion battery segment, by battery type is the largest segment as lithium-ion batteries are preferred in e-bikes presently. These batteries are smaller in size, long-lasting, and have more power-to-weight ratio than other batteries.

Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of sales about the global market and also about each type from 2016 to 2027. This section mentions the volume of sales by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2020, region from 2016 to 2020, and global price from 2016 to 2027.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Implementation of government regulations to encourage the use of electric bikes

Governments of various countries are taking initiatives to reduce the carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles, owing to increase in awareness toward the hazardous effects of using vehicles running on fossil fuels. Moreover, governments are constructing bicycle-friendly streets, which are encouraging individuals to opt for bicycle as a key mode of commute. Electric bicycles, scooters, and motorcycles have gained significant attention from various governments as reliable and efficient types of light motor vehicles (LMVs), which help in reducing the carbon footprint. Furthermore, to encourage the use of these environment-friendly vehicles, governments around the world are supporting for the purchase of electric mobility, in terms of tax credits and incentives. For instance, in June 2019, the Indian Government announced a plan to lower the goods & service tax (GST) on e-vehicles from 12% to 5% for faster adoption of electric vehicles. Furthermore, infrastructure facilities such as guarded bicycle parking facilities, construction of more bicycle (express) routes, and establishment of battery charging stations in many countries by the governments significantly boost the adoption of electric bikes by users, thereby propelling the growth of the E-bikes market.

Consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute

Increase in global carbon emission by fuel combustion has been one of the major concerns for governments and environmentalists from the past few decades. This, in turn, boosts the demand for electric vehicles across the globe, thereby supplementing the growth of the market. In addition, due to rise in cost of fuel at international level, increase in pollution, and traffic congestion especially in urban areas have increased the popularity of electric bikes across every continent. Moreover, higher running and maintenance cost of fuel vehicle leads to shift in preference for electric bike in daily commute, which, in turn, propels the E-bikes market growth. 

High cost of e-bikes

High cost of e-bikes is a major factor that restrains the growth of the E-bikes market. The cost of the battery and technology makes e-bikes costlier as compared to traditional bicycles, conventional scooters, or motorcycles. Hence, consumers find conventional scooters or motorcycles superior in performance with same or less price. Moreover, the use of lithium–ion batteries or drive mechanism of motor incurs maximum cost, thereby restraining the growth of the market. Hence, upsurge in adoption of e-bikes in countries other than China is limited by high costs. However, the E-bikes market is growing at a rapid rate globally, which may reduce the impact of this restraint in the near future.

Improvement in bicycling infrastructure & battery technology

E-bikes are less expensive than cars, do not require license, and can be used on existing bicycling infrastructure. Rapid urbanization and less preference of consumers to use cars due to increased traffic congestion are anticipated to offer lucrative opportunities for market expansion. In addition, governments of various countries focus on the development of infrastructure for e-bikes, including bicycle tracks and public charging stations with the inclination of consumers toward e-bikes. For instance, Sanyo (Japan) opened two solar parking lots in Tokyo where around 100 electric bicycles can be recharged from solar panels. Moreover, consistent technological innovations in e-bike by market players is propelling the market growth. For instance, in 2017, commercial bike racks & bike parking systems manufacturer, Bikeep introduced the solution of smart bicycle rack that provides electric bicycle charging. The solution will be available for the most popular e-bikes. Thus, all these factors collectively are expected to offer remunerative opportunities for the expansion of the global E-bikes market during the forecast period.

Segment Analysis

Electric Bike Market By Class

class-I

class-II

class-III

Electric Bike Market, By Speed

up to 25 km/h

25-45 km/h

Electric Market, By Battery Type

lithium-ion

lithium-ion polymer

lead acid

and others

Electric Bike Market, By Motor Type

Hub

mid

Electric Bike Market, By Mode

pedal assist

throttle

Electric Bike Market, By Components

Batteries

electric motors

frame with fork

wheels

crank gears

brake systems

and others

Electric Bike Market, By Usage

mountain/trekking

city/urban

cargo

and others

Electric Bike Market, By Ownership

Shared

personal

Electric Bike Market, By Region at Country Level by Class.

Asia Pacific

Europe

North America

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, and Japan alone. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, sales, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2016 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

Competitive Landscape

This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2016 to 2020.

Bosch

Wuxi Xingwei

Ananda

Xin Da Yang

Sinemotor

Bafang

Shimano

Continental

Panasonic

Dapu Motors

Yamaha

Derby Cycle

TranzX