Global E-bikes Market Size, Trends & Growth Opportunity, By Product (Pedelecs, Speed Pedelecs, and Scooter and Motorcycles), By Drive Mechanism (Hub Motor, Mid-Drive and Others), By Battery Type (Lead acid, Lithium ion (Li-ion) and Others), By Region and Forecast till 2030

E-Bikes Market

The global E-bikes Market was valued at US$ 24.05 Bn in 2020, estimated to reach US$ 71.50 Bn in 2030 with a CAGR of 12.77% from 2021-2030.

Market Drivers: Rise in popularity of cycling as a recreational activity is one of the key factors driving the E-Bike Market growth      

Cycling has numerous physical as well as mental health benefits including, improved cardiovascular fitness, muscle strength and flexibility along with the reduced risk of stress and depression. The young population is increasingly opting for various adventure sports, which is providing a boost to e-bike sales over the forecast period. The increase in preference towards electric bikes for recreational and adventure activities will boost the market growth. The growing adoption of e-bikes in several other sectors like logistics, and rentals is expected to propel the growth of global e-bikes market. Furthermore, the increase in consumer inclination towards use of e-bikes as an efficient and eco-friendly solution to commute and rising costs of fuel is driving growth of the global E-bike market during forecast period.

Market Challenges: High Cost of E-bikes

Certain factors may affect the growth of global e-bike market. These bikes are highly priced and cannot be afforded by all. As, E-bikes run on batteries, they require frequent charging – this remains a challenge due to the limited number of charging stations.  Also, maintenance of the product is of utmost importance which requires proper charging infrastructure. High maintenance cost is another restraining factor which may hamper the growth of e-bike market. Moreover, international trade policies and regulations expected to hinder the market growth. Due to Europe region’s anti-dumping policy, the region was impacted initially as it could not meet the demand for components. However, to control this impact, Europe diverted its focus towards developing countries and increased its imports from Indonesia, Turkey, Taiwan, and Thailand, to fulfill the demand for e-bikes & related components.

Market Opportunities: Trend towards connected e-Bikes will provide a growth opportunity to the market 

The growing popularity of e-bikes, due to the increase prices of fuels as well as the growing technical advancements in e-bikes industry. The connected e-bike is one such advancement, wherein the SIM module allows the e-bike to send & receive data to and from the cloud without a connected smartphone.  Some of the important features provided by the connected e-bike include automatic emergency call, social media connection, integrated navigation, an anti-theft system, and remote diagnostics. For instance, in July 2020, Yamaha Bicycles had launched new Civante Class 3 electric power assist bicycle in United States. Civante Class 3 electric power bicycle has various features such as Long-lasting 500-watt-hour Lithium-ion battery pack with versatile charging options, Class 3 power assist up to 28 mph, with up to 70Nm of max torque & cadence support up to 110 rpm. Multi-function LCD display with Bluetooth app compatibility and a clear, bright readout showing assist modes, speedometer, trip meter, stopwatch, battery capacity, clock, diagnostics and more. Furthermore, improvement in bicycling infrastructure and battery technology is expected to create lucrative opportunities for the E-bike market growth during this forecast period.

Impact of COVID-19 on E-bikes Market

Global E-Bikes Market has observed a negative impact on the product demand in recent months owing to the lockdowns imposed in the majority of the countries.

These lockdowns have caused in temporarily halting of the production of bikes since its outbreak in December 2019. Moreover, several countries announced lockdowns, resulting in reducing the demand for electric bikes. Nevertheless, the demand for these products is anticipated to refurbish in the coming months as several governments prepare to uplift the lockdowns phase by phase. E-bikes is incorporated of electric motors that can be used for propulsion or moving the e-bike forward. E-bikes comprises of rechargeable batteries that can travel up to 25 to 32 km/h, depending on government regulations established in the country.

E-bikes Market, By Product

The product market for e-bikes is segmented into Pedelecs, speed Pedelecs, and scooter and motorcycles market.

The scooter and motorcycle market is expected to lead the market during the analysis period owing to the Increasing investments by governments globally to advance charging infrastructure and inducements offered to buyers will create opportunities for OEMs to expand their revenue stream and geographical reach.

Scooter or motorcycle was valued at US$ 10.40 Bn in 2020 and it is expected to reach at US$ 30.60 Bn by 2027, growing at a CAGR of 12.62% over the forecast period.

E-bikes Market, By Drive Mechanism

By drive mechanism the e-bikes market is segmented into hub motor, mid-drive and others market.

The mid-drive segment is expected to lead the market during the forecast period due to the factors such as smaller size, lighter weight, lesser noise, and seamless integration with bike frames. Therefore, the mid-motor segment is projected to register a higher CAGR throughout the forecast period.

The Mid-drive segment was valued at US$ 14.18 Bn in 2020 and is expected to reach US$ 42.29 Bn by 2027 growing at a CAGR of 12.81%.

E-bikes Market, By Battery Type

Based on battery type, the market is segmented into lead acid, Lithium ion (Li-ion) and others segment.

The lithium-ion battery segment is projected to account for the largest share of the e-bike market due to lithium-ion batteries' various features.

For instance, lithium-ion batteries are eco-friendly, have a better life cycle, and generate more power to weight ratio as compared to other battery types. These batteries have also shown a sharp decline in price in upcoming years. The effort of e-bike manufacturers to produce lightweight e-bikes is expected to increase in the adoption of lithium-ion batteries.

 Lithium-ion batteries were projected to reach from US$ 13.60 Bn in 2020 to US$ 40.58 Bn in 2027, during the forecast period, growing at a CAGR of 12.82%.

E-bikes Market, By Region

Asia-Pacific region is expected to account for the largest share of the market in 2027. Asia-Pacific is expected to be the largest market. Large sales production and sales volumes in China, growing demand for affordable electric scooters for short-distance traveling, and governments encouraging electric two-wheelers are expected to drive the Asia Pacific market during the forecast period. China’s speedily growing economy is driving the growth of advanced technologies to improve electrification in the country. China has spent around USD 2.4 billion till 2020 to improve the charging facility infrastructure in the country. The Indian government is taking inventiveness such as FAME-II, offering subsidies and tax exemptions to buyers to promote electric two-wheelers in the country. 

Competitive Landscape:

• The global e-bikes market is highly fragmented due to the presence of international and regional players across the globe. Due to the fragmented nature of the market, the competition among the global players is high.
• Market players are embracing various strategies, including product development, partnership, and mergers and acquisitions among others.  The figure Competition Landscape Analysis shows competition scenario in the overall market. The global E-Bikes market is analyzed based on below parameters: New Product Launch/Innovation
• Investment
• New Facility Development
• Partnership

Recent Developments:

In February 2021: Mühltal, Germany: Riese & Müller, the manufacturer of E-Bikes and Cargo Bikes, continues to expand and is extending its campus in Mühltal near Darmstadt to include a new building for a number of various departments, from new production units to administrative offices. The building will be built on the eastern part of the company’s land & will offer space for two new production units, the Development and Service department as well as additional offices.

In February 2019: Giant Bicycles Co. Ltd. aims to expand its business in India through launch of its new showroom. In February 2019, Giant Bicycles Co. Ltd entered into Indian retail cycle market with its flagship showroom in Mumbai (India), association with Element Retail Pvt. Ltd. (is founded in the year 2013, franchise player in Mumbai.). Under this collaboration, Element Retail Pvt. Ltd., had received a license to distribute Giant bicycles Pan India.

Key Players

Various key players are listed in this report such as Merida Industry Co. Ltd, Giant Bicycles Co. Ltd, Riese & Muller, Yamaha Bicycles, Kalkhoff, VanMoof BV, Cannondale Bicycle Corporation, Coboc, Ampler Bikes, Cowboy, etc.

Market Taxonomy

By Product

• Pedelecs
• Speed Pedelecs
• Scooter
• Motorcycle

By Drive Mechanism

• Hub motor
• Mid-drive
• Others

By Battery Type

• Lead acid
• Lithium ion (Li-ion)
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global E-bikes Market?
• What will be the growth rate from 2019 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?