E-Bike Market

GMI Research analysis indicates that the E-Bike Market estimated at USD 46.8 billion in 2022 and is slated to register a double digit CAGR of 11.1% over the period 2023-2030 and is projected to reach USD 108.6 billion in 2030.

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Market Dynamic

Key Drivers and Emerging Trends

One of the significant factors that is surging the global E-Bike market’s growth includes less maintenance cost for an e-bike. For instance, fuel prices across the globe is one of the primary concern and the increasing price of fuel has driven the demand of the e-bike market. E-bike can help in saving hundreds of dollars annually that is usually spent on gasoline. Furthermore, subsidy benefits on e-bike by the Indian govt. During the 2020 budget, for commercializing of an e-bike will boost the growth of the e-bike market. According to Vox Media, LLC and Taylor and Francis Group, during the COVID-19 era, public and private transportation got disturbed. A certain population of New York, London, and Paris was observed adopting e-bikes, and new lanes were also introduced to support e-vehicles, thus elevating the market’s growth. Escalating demand for eco-friendly transportation in society and the rise in concerns for sustainable use of resources like oil (petroleum), natural gas, and others have propelled the demand for e-bike across the nations. Growing healthcare concerns such as the high prevalence of chronic diseases like diabetes and cardiovascular diseases due to high emissions levels from petrol and diesel vehicles also contribute to rapid expansion of the market.

Apart from increasing consumer preference towards adventure and recreational activities, the adoption of the e-bike in several sectors like e-bike rental services and logistics is also contributing to the rapid expansion of e-bike, thus boosting the growth of the e-bike market. Also, growing interest in cycling and a noticeable shift of the fitness conscious consumers for e-bike has created an opportunity for the market to expand over the forecast period.

Restraint in the E-Bike Market

However, on average, an e-bike can reach up to 150 km and then needs to be recharged; however, the gasoline vehicles can be refilled within minutes and are again ready for the ride. More precisely, it is impossible to calculate that how much you can ride. Furthermore, the high cost of e-bikes, due to the high price of batteries and motors, is expected to hamper the market’s growth.

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Battery Type – Segment Analysis

Based on the Battery Type, e-bike market is segmented into, lithium ion Battery Type, lead acid, nickel metal hydride, and others. Among them, lithium-ion battery type is expected to dominate the market, as lithium ion battery require less maintenance as compared to all other battery type types and new advanced lithium ion batteries, which provides more durability. In China, major pie of the e-bikes produced are equipped with lithium ion batteries as it is light in weight. Furthermore, lithium-ion batteries can be easily recycled with less capital investment, thus delivering long-term sustainable growth for the e-bike market.

Speed – Segment Analysis

Based on the speed, the e-bike market is segmented into up to 25kmph and 25-45 kmph. Among these, the 25-45kmph segment is expected to grow at a higher CAGR over the forecast period. China has the largest share of the e-bike market, as more than 50% of the Chinese population comes under lower-middle battery type, which prefers e-bike rather than a car. Thus, the high adoption of e-bikes with 25-45kmph speed in Asia-Pacific region is another factor that is boosting the demand of the segment in the market.

Class – Segment Analysis

Based on the class, the e-bike market is segmented into class-I, class -II, and class-III. Among all, the battery class-III segment is expected to dominate the market. An increase in interest for higher speed e-bike for sports and other activities has propelled the market’s growth. The key players are also focusing more on class-III e-bikes, which is driving the demand for the battery class-III e-bike. For instance, in June 2020, Yamaha launched its new Civante class-III road e-bike, which will help in meeting the demand of consumers.

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Regional – Segment Analysis

Based on the region, the European region is expected to dominate the market over the forecast period. Among European countries, Germany will be dominating the e-bike market. For instance, in Germany, e-bike is the most adopted transportation mode for mobility, leisure, sports, and even local traveling. This is due to the lack of space and time-saving alternatives for city logistics.  According to European Cycusts Federation more than 3 million e-bikes were sold, which has shown a substantial increase of 23% from the last year reported year. A noticeable difference in the production of e-bikes was observed of 0.7% from the year 2017-2018 respectively, which has helped fulfill the supply and demand gap and drive the market growth of the region.

Top Market Players

Various notable players operating in the market include Accell Group, Derby Cycle, JIANGSU XINRI E-VEHICLE CO., LTD., AIMA TECHNOLOGY CO., LTD., ITALJET SPA, Pedego Electric Bikes, Bionx International Corporation, Giant Bicycles, Pon, Robert Bosch GmbH, MERIDA BIKES, among others. 

Key Developments:

• • In 2020, Giant bicycles launched a new product: Anthem Advanced Pro 29 XC bike, which is a superlight full-suspension XC chassis engineered with Advanced Composite material.
  • In 2020, Robert Bosch GmbH launched new APAC headquarters in Taiwan, which helped them to strengthen its global market position and expanded the global presence too.

Segments Covered in the Report:

The global e-Bike market has been segmented based on battery type, speed, class, and regions. Based on battery type, the market is segmented into lithium-ion, lithium-ion polymer, lead acid, and others. By Battery Type (City, Mountain, Cargo & Others). Based on Battery Type, the market is segmented into Battery Type-I, Battery Type-II and Battery Type-III. 

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Key questions answered in this research report:

• • At what pace is global e-bike market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in e-bike market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global e-bike market?
  • Which battery type generated maximum revenues in 2021 and identify the most promising battery type during the forecast period?
  • What are the various speed areas of global e-bike market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 46.8 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Battery Type, By Speed, By Class, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Accell Group, Derby Cycle, JIANGSU XINRI E-VEHICLE CO., LTD., AIMA TECHNOLOGY CO., LTD, Robert Bosch GmbH, ITALJET SPA, Pedego Electric Bikes, Bionx International Corporation, Giant Bicycles., Pon, MERIDA BIKES among others, a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Electric Bike Market by Battery Type

• • Lithium-Ion
  • Lithium-Ion Polymer
  • Lead Acid
  • Others

Global Electric Bike Market by Speed

• • Up to 25kmph
  • 25-45Kmph

Global Electric Bike Market by Class

• • Class-I
  • Class-II
  • Class-III

Global E-Bike Market by Region

• • North America Electric Bike Market (Option 1: As a part of the free 25% customization)

    • By Battery Type
    • By Speed
    • By Class
    • US Market All-Up
    • Canada Market All-Up

  • Europe Electric Bike Market (Option 2: As a part of the free 25% customization)

    • By Battery Type
    • By Speed
    • By Class
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Electric Bike Market (Option 3: As a part of the free 25% customization)

    • By Battery Type
    • By Speed
    • By Class
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Electric Bike Market (Option 4: As a part of the free 25% customization)

    • By Battery Type
    • By Speed
    • By Class
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the E-Bike (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Accell Group
  • Derby Cycle
  • JIANGSU XINRI E-VEHICLE CO., LTD.
  • Robert Bosch GmbH
  • AIMA TECHNOLOGY CO., LTD
  • ITALJET SPA
  • Giant Bicycles
  • Yamaha Motor Co., Ltd.
  • Pon
  • MERIDA BIKES
  • Pedego Electric Bikes