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Rising Demand for Green, and Cleaner Transportation Modes to Fuel Growth of E-Bikes Market
People use electric bicycles for different reasons, the biggest ones of which are related to speed, fitness, money, and the environment. E-bikes are essentially regular looking bicycles that have a battery and motor built in. Although heavier than a traditional bicycle, e-bikes are easier to get around on, as the motor helps power the rider along. The number of e-bikes is rising worldwide and continues to grow. The electric bicycle market has never stopped growing, ever since e-bikes first gained popularity in the 1990s and early 2000s. The global electric bicycle market is expected to skyrocket in the following decade, achieving massive growth in Europe, Asia, and North America. Global carbon emissions from fuel burning have been a major source of worry for governments and environmentalists in recent decades. As a result, proliferating demand for electric vehicles around the world is also likely to support the growth of e-bikes market in the near future.
While electric bikes, and scooters are claimed to be more expensive to buy than ordinary two-wheelers, the money saved on growing gasoline expenses is encouraging various businesses in logistics, food, delivery, tourist, and other sectors. As a result, the corporations are investing in buying these electric two-wheelers and creating strategic relationships with these vehicle manufacturers in order to obtain a significant competitive advantage over other market competitors. For instance, several tourism organisations specialise in providing 'Cycling Holidays' packages. As Europe has so many tourist locations, millions of people visit the country every year throughout the holiday season. Tourists are being wooed by this new and unusual experience, and are choosing e-bikes to explore famous sights and, in some cases, the countryside. Additionally, the worldwide e-bikes market is expected to reach over $25 billion by 2020. Between 2021 and 2028, it is expected to increase at a compound annual growth rate of just under 10%, reaching just under 48.5 billion USD. The various governments around the world are encouraging safer and cleaner modes of transportation in order to build a better and greener environment. Many governments have responded by creating legislation that encourages and compensates e-bike riders who ride frequently, which is expected to favour e-bikes market worldwide.
Low Cost Account for an Ideal Candidature of Lead Acid Batteries in E-bikes Market
The lead acid segment held the largest value share in e-bikes market in 2021. Lead acid batteries are inexpensive and easy to recycle, which is why they're common in e-bikes. Despite being cheaper in the short-term, lithium-ion batteries are now becoming the preferred choice for batteries because they offer better durability, range, and efficiency. Lead acid batteries are often criticized for their negative environmental impact and alleged lack of durability compared to lithium-ion batteries. The battery segment is expected to experience a higher growth rate over the next few years. The lithium-ion battery's superior battery chemistry, power-to-weight ratio, charging efficiency, energy density, and battery lifecycle are all factors contributing to its superiority.
Government Policies, and High Public Transit Congestion to Drive Growth of Asia Pacific E-bikes Market
Asia Pacific is predicted to steer the e-bikes marketplace throughout the forecast period because of the excessive income of e-motorcycles withinside the place. Key e-bike producers in this place encompass Yadea Group Holdings Ltd., AIMA Technology Group Co., Ltd., and Merida Industry Co., Ltd. Class-I e-motorcycles account for the biggest marketplace in the Asia Pacific, as government policies allow the simplest Class-I e-motorcycles, besides for India wherein the marketplace for Class-II e-motorcycles exists because of loss of strict policies. Some factors that contribute to the popularity of bicycles in developed and developing countries include the extensive bicycle infrastructure in these places, high vehicular and public transit congestion, and increasing emissions regulations for gasoline motorcycles.
Germany, France, and Italy dominate the European e-bikes market. The revolutionary nature of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials are some of the primary drivers driving e-bike sales. Germany dominated the European market in 2021, accounting for over 40% of the market. The Netherlands and France came in second and third, respectively, with more than 11 percent of the overall market share. Since 2018, the European Commission's anti-dumping and anti-subsidy measures on Chinese e-bikes have aided the market's growth tremendously. In recent years, Germany's e-bike and bicycle sectors have enjoyed tremendous growth, with volume and revenue growth reaching new highs in 2020. Germany, France, and Italy dominate the European e-bikes market. The revolutionary nature of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials are some of the primary drivers driving e-bike sales.
Since 2018, the European Commission's anti-dumping and anti-subsidy measures on Chinese e-bikes have aided the market's growth tremendously. In recent years, Germany's e-bike and bicycle sectors have enjoyed tremendous growth, with volume and revenue growth reaching new highs in 2020. According to market estimates from the German industry group Zweirad-Industrie-Verband (ZIV2020), e-bike sales will climb by 43% to 2 million units in 2020. However, due to a variety of causes, the market fell marginally in 2021. COVID-19 is the backdrop to this, with multiple factories closing and output delays expected to last until 2020. In the year 2021, the industry sold approximately 2 million e-bikes. This translates to a 2.6 percent decrease.
Global E-Bikes Market: Competitive Landscape
In 2020, The new Shimano EP8 mid-drive motor unit carries even more torque than Shimano's previous drive units, up to 85 Nm, according to Shimano. On the other hand, in January 2022, Giant Bicycles announced a new partnership with Team BikeExchange-Jayco, which will allow the world's most popular cycling brand to return to professional road racing at UCI World Tour level. Moreover, in July 2021, Pedego has launched a new location in Bethesda, Maryland, that sells, rents, services, and accessories for electric bikes.
A few of the players in the E-Bikes Market include Accell Group N.V. (Netherlands), Yamaha Motor Corporation (Japan), Pon.Bike (US), Giant Manufacturing Co. Ltd. (Taiwan), and Merida Industry Co. Ltd. (Taiwan).
Regional Classification of the Global E-bikes Market is Described Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
1. Executive Summary
1.1. Global E-bikes Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-Covid and Post-Covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE
3. Production Output and Trade Statistics, 2018 - 2022
3.1. Regional Production Statistics
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East & Africa
3.2. Trade Statistics
4. Price Trends Analysis and Future Projects, 2018 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Product
4.4. By Region
5. Global E-bikes Market Outlook, 2018 - 2030
5.1. Global E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Pedal-assisted
5.1.1.2. Throttle-assisted
5.1.1.3. Speed Pedelec
5.1.1.4. Motorcycle
5.2. Global E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Lithium-ion
5.2.1.2. Lead-acid
5.3. Global E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. City/Urban
5.3.1.2. Trekking
5.3.1.3. Cargo
5.3.1.4. Misc.
5.3.2. BPS/Market Attractiveness Analysis
5.4. Global E-bikes Market Outlook, by Region, Volume (Units) and Value (US$ Mn), 2018 - 2030
5.4.1. Key Highlights
5.4.1.1. North America
5.4.1.2. Europe
5.4.1.3. Asia Pacific
5.4.1.4. Latin America
5.4.1.5. Middle East & Africa
5.4.2. BPS/Market Attractiveness Analysis
6. North America E-bikes Market Outlook, 2018 - 2030
6.1. North America E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. Pedal-assisted
6.1.1.2. Throttle-assisted
6.1.1.3. Speed Pedelec
6.1.1.4. Motorcycle
6.2. North America E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Lithium-ion
6.2.1.2. Lead-acid
6.3. North America E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. City/Urban
6.3.1.2. Trekking
6.3.1.3. Cargo
6.3.1.4. Misc.
6.4. North America E-bikes Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
6.4.1. Key Highlights
6.4.1.1. U.S.
6.4.1.2. Canada
6.4.2. BPS/Market Attractiveness Analysis
7. Europe E-bikes Market Outlook, 2018 - 2030
7.1. Europe E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Hydroponics
7.1.1.2. Aeroponics
7.1.1.3. Aquaponics
7.2. Europe E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Lithium-ion
7.2.1.2. Lead-acid
7.3. Europe E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. City/Urban
7.3.1.2. Trekking
7.3.1.3. Cargo
7.3.1.4. Misc.
7.4. Europe E-bikes Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
7.4.1. Key Highlights
7.4.1.1. Germany
7.4.1.2. France
7.4.1.3. U.K.
7.4.1.4. Italy
7.4.1.5. Spain
7.4.1.6. Netherlands
7.4.1.7. Russia
7.4.1.8. Rest of Europe
7.4.2. BPS/Market Attractiveness Analysis
8. Asia Pacific E-bikes Market Outlook, 2018 - 2030
8.1. Asia Pacific E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Pedal-assisted
8.1.1.2. Throttle-assisted
8.1.1.3. Speed Pedelec
8.1.1.4. Motorcycle
8.2. Asia Pacific E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Lithium-ion
8.2.1.2. Lead-acid
8.3. Asia Pacific E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. City/Urban
8.3.1.2. Trekking
8.3.1.3. Cargo
8.3.1.4. Misc.
8.4. Asia Pacific E-bikes Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
8.4.1. Key Highlights
8.4.1.1. China
8.4.1.2. Japan
8.4.1.3. South Korea
8.4.1.4. India
8.4.1.5. Southeast Asia
8.4.1.6. Rest of Asia Pacific
8.4.2. BPS/Market Attractiveness Analysis
9. Latin America E-bikes Market Outlook, 2018 - 2030
9.1. Latin America E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
9.1.1. Key Highlights
9.1.1.1. Pedal-assisted
9.1.1.2. Throttle-assisted
9.1.1.3. Speed Pedelec
9.1.1.4. Motorcycle
9.2. Latin America E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
9.2.1. Key Highlights
9.2.1.1. Lithium-ion
9.2.1.2. Lead-acid
9.3. Latin America E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
9.3.1. Key Highlights
9.3.1.1. City/Urban
9.3.1.2. Trekking
9.3.1.3. Cargo
9.3.1.4. Misc.
9.4. Latin America E-bikes Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
9.4.1. Key Highlights
9.4.1.1. Brazil
9.4.1.2. Mexico
9.4.1.3. Rest of Latin America
9.4.2. BPS/Market Attractiveness Analysis
10. Middle East & Africa E-bikes Market Outlook, 2018 - 2030
10.1. Middle East & Africa E-bikes Market Outlook, by Product, Volume (Units) and Value (US$ Mn), 2018 - 2030
10.1.1. Key Highlights
10.1.1.1. Pedal-assisted
10.1.1.2. Throttle-assisted
10.1.1.3. Speed Pedelec
10.1.1.4. Motorcycle
10.2. Middle East & Africa E-bikes Market Outlook, by Battery, Volume (Units) and Value (US$ Mn), 2018 - 2030
10.2.1. Key Highlights
10.2.1.1. Lithium-ion
10.2.1.2. Lead-acid
10.3. Middle East & Africa E-bikes Market Outlook, by Application Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
10.3.1. Key Highlights
10.3.1.1. City/Urban
10.3.1.2. Trekking
10.3.1.3. Cargo
10.3.1.4. Misc.
10.4. Middle East & Africa E-bikes Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
10.4.1. Key Highlights
10.4.1.1. GCC
10.4.1.2. South Africa
10.4.1.3. Rest of Middle East & Africa
10.4.2. BPS/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Company Profiles
11.3.1. Trek Bicycle Corporation
11.3.1.1. Company Overview
11.3.1.2. Product Portfolio
11.3.1.3. Financial Overview
11.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
11.3.2. Yamaha
11.3.3. Hero Electric
11.3.4. Giant Manufacturing
11.3.5. Accell Group N.V.
11.3.6. Fuji ta Bicycle Co., Ltd.
11.3.7. Specialized Bicycle Components, Inc.
11.3.8. Derby Cycle AG
11.3.9. Rad Power Bikes Inc.
11.3.10. Merida Industry Co., Ltd.
11.3.11. iZip eBikes
11.3.12. LEADER 96
11.3.13. Aima Technology Group Co. Ltd.
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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