Analysis of the E-Bike Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global E-Bike Market by Propulsion Type (Pedal-Assisted, Throttle-Assisted, and Speed-Assisted), by Battery Type (Lead-Acid Battery, Lithium-Ion Battery, Others), by Power (>250W and <250W), by Application (City/Urban, Trekking/Mountain, Cargo Delivery, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - Automotive & Transportation
Report Code - OMR-AT-211
Format: PDF, PPT, and Excel
E-Bike Market Overview
E-bikes, or electric bicycles, are equipped with a motor and rechargeable batteries to help the rider. Electrically assisted bicycles, or "e-bikes," allow riders to go longer and more frequently without tiring out. Additionally, government incentives and regulations promoting electric vehicles and the need for urban mobility solutions contribute to the market's expansion. Many countries promote using electric vehicles, bikes, and bicycles to reduce carbon emissions. Being an environmentally friendly mode of transportation, electric bikes have great potential for expansion as they continue to gain popularity in Europe. Regulations in the United States are expected to increase sales. The future seems bright for the e-bike industry, with solid markets in Europe and the United States and a comeback in sales in China. In addition, governments are building bicycle-friendly streets to entice more people to utilize bikes as a means of transportation. However, the exorbitant price of E-bikes has prevented their widespread use thus far. A 2019 poll of e-bike users in North America indicated that the average price of an e-bike was around $2,600. While the uptick in bike purchases was already noticeable before the COVID-19 issue, it has been significantly amplified due to the widespread panic resulting from the epidemic. For instance, the World Economic Forum (WEF) reported that in 2020, U.S. sales of electric bikes climbed by 145% compared to 2019.
E-Bike Market Growth Factors
Rising Technological Advances to Propel Market Growth
Technology improvements in the sector also contribute to the soaring popularity of e-bikes. For instance, cloud-connected e-bikes may transmit and receive data over the cloud without being linked to a user's smartphone. Some convenient extras are available on these bicycles, like remote diagnostics, built-in navigation, theft protection, social media integration, and an automated emergency call function. Regarding smart e-bikes, Robert Bosch GmbH is a frontrunner in the market. V2X (vehicle-to-everything) and other connectivity apps can safeguard drivers by sounding an alarm if a bicycle or scooter is in danger. Examples include Tome's announcement of a partnership with SAE Industrial Technologies and nine other members to create a B2V (bike-to-car) communication standard. Users see them as a superior alternative to autonomous vehicles, public transportation, and scooters. Because of their compact design, they contribute to reducing traffic congestion, allowing for higher speed with less effort and giving several health advantages. The demand for electric bicycles should increase because of these reasons. European nations like Germany, France, and Spain, among others, have made it a priority to improve their bike infrastructure and are working to boost their annual expenditure in this area so that they may build out a reliable bicycle network more quickly. E-bikes have opened up various bicycle infrastructure prospects, which will help remove some barriers preventing people from using them.
Rising Adoption Owing to Shared Mobility to Augment Market Growth
The public transit system already incorporates shared micro-mobility. Providing mobility services for numerous journeys at a cheaper per-traveler cost, flexible transportation options like shared electric micro-mobility can complement higher-volume fixed-route transit services. During the past two years, mountain biking's popularity has skyrocketed thanks to the worldwide growth in demand for riding. It has been predicted that between 2020 and 2027, the mountain biking and trekking market will expand at a compound annual growth rate of 10 percent. The phenomenal uptick in extreme sports and tourism will drive e-MTB market expansion. As hub motors are less cumbersome, easier to build, and cheaper for manufacturers, they are typically seen in e-bikes. Mid-drive motors are similar to hub motors but have several benefits that will likely increase their popularity in the next years. North American Bikeshare and Scootershare Association (NABSA) released its annual report on the shared micro-mobility market in August 2021. The survey estimates that more than half of all journeys done in North America in 2019 were on shared micro-mobility cars, with 83.4 million trips taken in 2020. More than a third of all journeys were made on electric scooters. Over two-thirds of all journeys were made by bicycles and electric scooters.
E-Bike Industry Segmentation
Propulsion Type
• Pedal-Assisted
• Throttle-Assisted
• Speed-Assisted
Battery Type
• Lead-Acid Battery
• Lithium-Ion Battery
• Others
Power
• >250W
• <250W
Application
• City/Urban
• Trekking/Mountain
• Cargo Delivery
• Others
E-Bike Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
Propulsion Type Insights
Pedal-Assisted Assist E-Bikes are Dominant as they Offer Greater Power and Pedal Easily
Based on propulsion type, the market can be differentiated between pedal-assisted, throttle-assisted, and speed-assisted.
The pedal-assist market is anticipated to grow the fastest throughout the foreseen period. Pedal-assisted e-bikes have a stronger motor, allowing users to go faster while pedaling with less effort. Moreover, these bikes have found widespread use on mountainous terrain and other difficult routes. Young people's increasing interest in e-bikes that can be pedaled is one factor that should help the industry expand. Furthermore, the pedal-assisted market will be the most dominant because of the longer battery life, fewer maintenance requirements, and the flexibility to select between three and five different pedal-assist settings.
The throttle-assisted market sector is expected to expand at a particularly rapid clip throughout the anticipated time frame. Because the throttle supplies direct power to the engine, throttle-assisted e-bikes reduce the need to pedal, contributing to the segment's rapid expansion. This market is expected to expand due to features that reduce pedaling effort while doing common tasks like going uphill quickly or going for a long ride without stopping.
Battery Type Insights
Lead-Acid Battery to Accommodate Largest Market Share Owing to Low Cost & Robustness
Based on battery type, the market can be split between lead-acid battery, lithium-ion battery, and others.
The lead-acid battery is expected to dominate the largest market share during the forecast period. Lead-acid batteries' numerous advantages, including their low price and durability, have contributed to the industry's expansion. Most e-bikes on the market utilize lead-acid batteries since they are affordable, recyclable, and widely accessible.
The lithium-ion battery market will expand at the highest compound annual growth rate (CAGR) throughout the anticipated time frame. These batteries are expected to gain popularity due to their many advantages, which include their high charge density, high performance, low weight, and excellent charging-discharging efficiency.
E-Bike Regional Insights
Asia Pacific to Lead Global Sales Owing to Extensive Infrastructure & High Traffic Congestion
Based on region, the market can be split between North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The region of Asia Pacific is expected to indicate significant dominance during the forecast period. There are many new technology developments, and the charging infrastructure in the Asia-Pacific region is constantly improving. Many major firms, such as Yadea Group Holdings Ltd., Yamaha Motor Corporation, and Aima Technology Group Co. Ltd., have established themselves in this area. Growth is expected to be spurred on by factors including increased consumer demand for environmentally friendly modes of transportation and expanding government programs. Extensive cycling infrastructure in industrialized and developing nations like China and Japan, high traffic and public transportation congestion, and rising stringency of pollution rules for gasoline motorcycles are why this area dominates the industry.
The highest projected CAGR throughout the projection period will come from North America. The expansion of the regional market is anticipated to be driven by the increasing number of industrial units and IT enterprises, as well as the increasing number of tech-savvy and urban residents in the area. Also, the region's low cost of raw materials and availability of inexpensive labor is projected to present profitable prospects for the regional market.
The sales of electric bikes have exploded in recent years across Europe, especially in nations like Germany, Belgium, and the Netherlands. The rising popularity of electric bikes as a mode of transportation, competitive sport, and recreational activity is driving this pattern. The substantial expansion of the European electric bike market is anticipated to be supported by subsidies and tax incentive programs for electric bikes in Sweden, Belgium, and France throughout the forecast period.
E-Bike Industry Analysis
Major companies in the e-bikes market use tactics including expanding into new regions and releasing innovative products to increase their market share. In addition, they try to obtain an edge in the market by strengthening their current product offers and raising brand recognition.
Mergers and acquisitions, contracts, and collaborations with IT firms are just some of the measures industry leaders are taking. Players in the global e-bike industry are in a cutthroat race to the top because of the massive investments made to improve the e-bikes' performance and user-friendliness.
E-Bike Market Recent Developments
• In December 2022, Yadea has included New U.S. Partner Recruiting Campaign for its Ebike Products in its national dealership promotion strategy for 2023. Yadea's Ebike needs local agents and distributors in the United States as part of its worldwide development strategy.
• In December 2022, the Emsons Group, a family-run enterprise, established The Cyclery in Dubai. Cannondale benefited from its extensive lexicon of industry terms and familiarity with the UAE market.
• In January 2022, the world's top bicycle manufacturer, Giant Bicycles, has announced a partnership with Team BikeExchange-Jayco that will allow them to compete again in professional road racing at the UCI World Tour level.
Global E-Bike Market Prominent Players
• Giant Bicycles (Taiwan)
• Panasonic Corporation (Japan)
• Trek Bicycle Corporation (U.S.)
• Rad Power Bikes (U.S.)
• Accell Group (Netherlands)
• Bionx International Corporation (Canada)
• Yamaha Motor Company (Japan)
• Aima Technology Group Co. Ltd. (China)
• Pedego Electric Bikes (U.S.)
• Merida Industry Co. Ltd (Taiwan)
Frequently Asked Questions (FAQs)
At what rate will the E-Bike Market Expand?
Objective Market Research says the global E-Bike Market will expand at a CAGR of 10.9% during the forecast period.
What are the factors driving the global E-Bike market?
The global E-Bike market is expected to grow during the forecast period owing to rising awareness regarding the positive impact on health and accompanying environmental benefits.
Which propulsion type segment accounted for the largest E-Bike market share?
The lead-acid battery is expected to dominate the largest market share during the forecast period as it offers a cost-effective benefit and robustness.
What region holds the major share in the global market scape?
Asia Pacific will hold the largest share of the market owing to the rising focus on charging infrastructure among emerging economies such as China, India, and Japan.
Which are the dominating players in the market during the forecast period?
Some of the prominent players in the global E-Bike market are Giant Bicycles (Taiwan), Panasonic Corporation (Japan), Trek Bicycle Corporation (U.S.), Rad Power Bikes (U.S.), Accell Group (Netherlands), Bionx International Corporation (Canada) among others.
*Our reports are available on a region/wise and chapter/wise basis as well. For any additional personalization contact our sales representative directly at sales@objectivemarketresearch.com
Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers
4.1.1.1. Rising Technological Advances
4.1.1.2. Rising Adoption Owing to Shared Mobility
4.1.2. Restrain
4.1.2.1. Higher Cost of E-Bikes
4.1.3. Opportunities
4.1.3.1. Rising Inclination Towards Connected E-Bikes
4.1.3.2. Increasing Interest Towards E-MTBs
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global E-Bike Market Analysis & Forecast, by Propulsion Type from 2019-2030 (in USD million) (Units)
5.1. Pedal-Assisted
5.2. Throttle-Assisted
5.3. Speed-Assisted
6. Global E-Bike Market Analysis & Forecast, by Battery Type from 2019-2030 (in USD million) (Units)
6.1. Lead-Acid Battery
6.2. Lithium-Ion Battery
6.3. Others
7. Global E-Bike Market Analysis & Forecast, by Power from 2019-2030 (in USD million) (Units)
7.1. >250W
7.2. <250W
8. Global E-Bike Market Analysis & Forecast, by Application from 2019-2030 (in USD million) (Units)
8.1. City/Urban
8.2. Trekking/Mountain
8.3. Cargo Delivery
8.4. Others
9. Global E-Bike Market Analysis & Forecast, by Region from 2019-2030 (in USD million) (Units)
9.1. North America
9.1.1. North America E-Bike Market Analysis & Forecast, By Country
9.1.1.1. U.S.
9.1.1.2. Canada
9.1.1.3. Mexico
9.1.2. North America E-Bike Market Analysis & Forecast, By Propulsion Type
9.1.3. North America E-Bike Market Analysis & Forecast, By Battery Type
9.1.4. North America E-Bike Market Analysis & Forecast, By Power
9.1.5. North America E-Bike Market Analysis & Forecast, By Application
9.2. Europe
9.2.1. Europe E-Bike Market Analysis & Forecast, By Country
9.2.1.1. Germany
9.2.1.2. UK
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Rest of Europe (RoE)
9.2.2. Europe E-Bike Market Analysis & Forecast, By Propulsion Type
9.2.3. Europe E-Bike Market Analysis & Forecast, By Battery Type
9.2.4. Europe E-Bike Market Analysis & Forecast, By Power
9.2.5. Europe E-Bike Market Analysis & Forecast, By Application
9.3. Asia-Pacific (APAC)
9.3.1. Asia-Pacific E-Bike Market Analysis & Forecast, By Country
9.3.1.1. Japan
9.3.1.2. China
9.3.1.3. India
9.3.1.4. South Korea
9.3.1.5. Rest of the APAC
9.3.2. Asia-Pacific E-Bike Market Analysis & Forecast, By Propulsion Type
9.3.3. Asia-Pacific E-Bike Market Analysis & Forecast, By Battery Type
9.3.4. Asia-Pacific E-Bike Market Analysis & Forecast, By Power
9.3.5. Asia-Pacific E-Bike Market Analysis & Forecast, By Application
9.4. Latin America
9.4.1. Latin America E-Bike Market Analysis & Forecast, By Country/Region
9.4.1.1. Argentina
9.4.1.2. Brazil
9.4.1.3. Rest of Latin America
9.4.2. Latin America E-Bike Market Analysis & Forecast, By Propulsion Type
9.4.3. Latin America E-Bike Market Analysis & Forecast, By Battery Type
9.4.4. Latin America E-Bike Market Analysis & Forecast, By Power
9.4.5. Latin America E-Bike Market Analysis & Forecast, By Application
9.5. Middle East & Africa
9.5.1. Middle East & Africa E-Bike Market Analysis & Forecast, By Country/Region
9.5.1.1. South Africa
9.5.1.2. UAE
9.5.1.3. Saudi Arabia
9.5.1.4. Rest of Middle East & Africa
9.5.2. Middle East & Africa E-Bike Market Analysis & Forecast, By Propulsion Type
9.5.3. Middle East & Africa E-Bike Market Analysis & Forecast, By Battery Type
9.5.4. Middle East & Africa E-Bike Market Analysis & Forecast, By Power
9.5.5. Middle East & Africa E-Bike Market Analysis & Forecast, By Application
10. Competitive Landscape
10.1. Market Share Analysis (2022)
10.2. Market Positioning of Top Players (2022)
10.3. Key Developments & Growth Strategies (2020-2022)
10.3.1. Product Launches
10.3.2. Merges, Collaborations & Agreements
10.3.3. Expansion
10.4. SWOT Analysis
11. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
11.1. Giant Bicycles (Taiwan)
11.1.1. Company Snapshot
11.1.2. Business Overview
11.1.3. Financial Data
11.1.4. Key Products Offered
11.1.5. Recent Developments
11.2. Panasonic Corporation (Japan)
11.3. Trek Bicycle Corporation (U.S.)
11.4. Rad Power Bikes (U.S.)
11.5. Accell Group (Netherlands)
11.6. Bionx International Corporation (Canada)
11.7. Yamaha Motor Company (Japan)
11.8. Aima Technology Group Co. Ltd. (China)
11.9. Pedego Electric Bikes (U.S.)
11.10. Merida Industry Co. Ltd (Taiwan)
11.11. Others
12. Appendix
12.1. Currency Exchange Rate to USD
12.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain