E-bike Market Size, Growth, Trends, Revenue Analysis, and Forecast 2021-2030

The global E-bike market size is expected to hit around US$ 8538 million by 2027, from US$ 7492 million in 2020, at a CAGR of 2.3% during 2020-2027.

Electric Bike is one kind of traffic tool which uses the battery as the main power energy. The main manufacture region is concentrated in the China.China occupies over 90% market share.But other regions was predicted to increase in the next few years.

Global E-bike Scope and Segment

The global E-bike market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global E-bike market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2016-2027.

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The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc. The report has specifically covered major countries including U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc. It includes revenue and volume analysis of each region and their respective countries for the forecast years. It also contains country-wise volume and revenue from the year 2016 to 2020. Additionally, it provides the reader with accurate data on volume sales according to the consumption for the same years.

Due to the COVID-19 pandemic outbreak and the subsequent lockdowns (with all the restrictions followed), the production of e-bikes witnessed a decline. However, as life slowly returns to a state of normalcy, the market is picking up pace. Due to the pandemic and the risk of contamination, while commuting via public transport, people are showing an increased interest in buying their own means of commute.

Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period.

The market has been segmented by propulsion type and application type. In 2020, by propulsion type, pedal-assisted e-bikes dominated the market and accounted for a significant share of the global market. By application type, the city/urban e-bikes segment dominated the market.

Asia-Pacific is expected to dominate the global market. In Asia-Pacific, China led the regional market. The largest consumption of electric bikes was in China, which boosted the sales figure, thus influencing the growth of the global market for electric bikes.

Growing Demand for Eco-friendly Transportation

• Due to increasingly busy lives and the need to commute daily, it has become almost necessary to own a vehicle, as public transport often is not reliable. On the back of that, there is a growing concern for preserving and sustaining the environment for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns. This poses a unique challenge for both society and governments. E-bikes are the ideal solution to this problem. They are environment-friendly, and they solve the problem of the daily commute. This is augmenting the demand for e-bikes.
• As people’s lives get busy, they need to travel around more nowadays. However, with the continually growing environmental and health concerns, there is an increase in emission levels from transports. Hence, governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.
• Additionally, the depletion of fossil fuel levels at an alarming rate has been creating concerns for sustainability for future generations. This factor is posing a huge challenge for governments and society. Thus, e-bikes are proving to be an ideal solution for this problem.

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Covid-19 Impact

Due to the COVID-19 pandemic, commuters are mostly avoiding public transportation. E-bikes are considered a safe, convenient, and affordable alternative to public transportation. Also, compared to other transportation systems, e-bikes are cheaper, easier to charge, and do not require huge investments in supportive infrastructure. This is estimated to boost the sales of e-bikes in 2020 and 2021. However, post-2021, the market is expected to return to normalcy.

The sale of e-bikes was dampened in the first quarter of 2020, as e-bike stores were closed due to lockdowns. However, now that the lockdown has been lifted in most countries, including China, India, Japan, the US, Italy, and France, the sale of e-bikes has increased. The number of e-bike buyers has also increased for the first time. According to industry experts and e-bike manufacturers, such as Rad Power Bike, VanMoof, and Lectric e-bike, e-bikes are increasingly considered an ideal transportation mode as cities emerge from the quarantine and summer approaches in the US and Europe.

The electric bike market is estimated to observe a huge boost in sales post-COVID-19 in 2021. However, post-2021, the market would return to normalcy. The demand for e-bikes would grow at a moderate rate, considering the return of safer public and private transportation systems, such as metros, buses, and cab/ride-sharing platforms.

Market Dynamics

Drivers

Rapid urbanization and traffic congestion in cities are among the factors expected to drive the demand for e-bikes over the forecast period. Due to the COVID-19 pandemic, shared mobility for transportation is unlikely to be preferred. E-bikes are considered a safe, convenient, and affordable alternative to public transportation. Most countries are working toward boosting e-bikes using both subsidies and regulatory changes to reduce the stress on public transportation systems. Also, compared to other transportation systems, e-bikes are cheaper, easier to charge, and do not require huge investments in supportive infrastructure. Therefore, an increase in demand for e-bikes is being observed.

Restraints

Due to Europe's anti-dumping policy, the region was impacted initially as it could not meet the demand for components. However, to overcome this impact, Europe diverted its focus towards developing countries and increased its imports from Turkey, Indonesia, Taiwan, and Thailand, to fulfill the demand for e-bikes and related components. Due to the trade war between the US and China, e-bike sales were impacted in the US between 2018 and 2019. However, in November 2019, a new agreement was signed between the US and China to end the e-bike trade war. The end of the trade war will boost the sale of e-bikes in the US.

Opportunity

With the growing popularity of e-bikes, there are technological advancements in the field of e-bikes. The connected e-bike is one such advancement, wherein the SIM module enables the e-bike to send and receive data to and from the cloud without a connected smartphone. Some of the important features offered by the connected e-bike include automatic emergency call, integrated navigation, social media connection, an anti-theft system, and remote diagnostics. Bosch is one of the major players in the ebike market, offering connected e-bike solution. For instance, SmartphoneHub by Bosch can connect e-bikes to a smartphone and support the riders before and after their journey. The Lock premium function by Bosch also transforms the Kiox connected onboard computer into the key for greater security. Nyon from Bosch determines the pedaling force and frequency during the journey and uses this information to calculate the cyclist’s performance and energy consumption. On platforms such as komoot, which is integrated into the COBI.Bike app, millions of users can exchange information with each other and discover new routes with recommendations and tips from the community.

Challenges: Technology challenges

The two most fundamental elements of the e-bike are the motor and battery. The motor provides the force, and the battery stores and supplies the energy. Controlling the motor's speed and torque across a wide range of speed and load conditions is one of the challenges for e-bike manufacturers. With the finite amount of stored energy available in a battery, the battery capacity must get used as efficiently as possible. An increase in the battery size would increase the capacity, increasing the weight of the e-bike. Therefore, determining the right battery capacity in terms of operation and range would be important for battery manufacturers. Also, consumers are very technology-oriented with devices such as smartphones and tablets. Therefore, e-bike manufacturers are faced with the challenge of providing functionality and intelligence in e-bikes that would be compatible with smartphones and tablets at a minimum amount of power, either through a dedicated onboard device or by providing connectivity to the smartphone or tablet.

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Lithium-Ion batteries are estimated to hold the largest share in the ebike market

The lithium-ion battery segment is estimated to account for the largest share of the ebike market due to lithium-ion batteries' various benefits. For instance, lithium-ion batteries are eco-friendly, have a better life cycle, and generate more power to weight ratio than other battery types. These batteries have also shown a sharp decline in price in recent years. The effort of e-bike manufacturers to produce lightweight e-bikes has also resulted in the higher adoption of lithium-ion batteries. E-bikes in China were equipped with lead acid batteries. However, due to government regulations announced in April 2019, the Chinese market has shifted towards lithium-ion batteries, resulting in a huge spike in demand for lithium-ion batteries in the Asia Pacific region from 2019.

Mid-motor is expected to be the fastest-growing market segment

The majority of the European and North American e-bike manufacturers are shifting from hub to mid motors due to mid motors’ advantages, 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 during the forecast period.

Market Segmentation

Segment by Type, the E-bike market is segmented into

• Lead-acid Battery
• Lithium ion Battery
• Other

The segment of lead-acid battery held the most of market share of about 91% in 2018.

Segment by Application, the E-bike market is segmented into

• Distribution
• Direct-sale

The distribution segment was estimated to account for the major market share of about 92% in 2018.

Regional and Country-level Analysis:

North America

United States

Canada

Asia-Pacific

China

Japan

South Korea

India

Southeast Asia

Australia

Rest of Asia-Pacific

Europe

Germany

France

U.K.

Italy

Russia

Nordic Countries

Rest of Europe

Latin America

Mexico

Brazil

Rest of Latin America

Middle East & Africa

Turkey

Saudi Arabia

UAE

Rest of MEA

Competitive Landscape and E-bike Market Share Analysis

E-bike market competitive landscape provides details and data information by companies. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2016-2020. It also offers detailed analysis supported by reliable statistics on sale and revenue by players for the period 2016-2020. Details included are company description, major business, E-bike product introduction, recent developments, E-bike sales by region, type, application and by sales channel.

The major companies include:

AIMA

Yadea

Sunra

Incalcu

Lima

BYVIN

Lvyuan

TAILG

Supaq

Xiaodao Ebike

Bodo

Lvjia

Slane

OPAI

BDFSD

Gamma

Birdie Electric

Zuboo

Mingjia

Giant EV

Qianxi Vehicle

Lvneng

Yamaha

Songi

Aucma EV

Lvju

Accell Group

Palla

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