E-Bike Market by Class, Battery Type (Lithium-ion, Lithium-ion polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage, and Region (Asia Pacific, Europe, North America) - Global forecast to 2025
[144 Pages Report] The global e-bike market is projected to grow at a CAGR of 9.01% during the forecast period, to reach USD 38.6 billion by 2025 from an estimated USD 21.1 billion in 2018. Class-I electric bike is estimated to be the largest segment in the global market. A class-I electric bike is equipped with a motor that provides assistance only when the rider is pedaling and stops providing assistance when the bicycle reaches 20 mph.
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Class-I electric bike is expected to be the largest segment during the forecast period
Class-I electric bike is anticipated to be the largest segment of electric bike market. Class-I electric bike provides assistance only when the rider is pedaling and stops providing assistance when the bicycle reaches 20 mph. This type of electric bike can operate on any paved surface. Also, class-I electric bike are compatible with electric bike laws of most of the countries. Thus, class-I electric bike are expected to hold the largest market share during the forecast period.
Class-III segment is expected to grow at the fastest rate during the forecast period
Class-III electric two wheeler segment is likely to be the fastest growing segment of the global market. A class-III electric bike, which is also known as speed pedal-assisted electric bicycle, provides assistance only when the rider is pedaling and stops providing assistance when the bicycle reaches 28 mph. These electric bike are allowed on roads, adjacent bike lanes, or private property due to their higher speed than the other two classes, i.e. class-I and class-II. These electric bike are expected to help replace cars and reduce traffic congestion. Hence, this electric bike segment is expected to be the fastest growing market during the forecast period.
Asia Pacific is expected to account for the largest market size during the forecast period
The Asia Pacific region is estimated to be the largest electric bike market by 2025. The region comprises some of the fastest developing economies of the world such as China and India. The governments of these developing economies have recognized the growth potential of electric two-wheelers and, hence, have taken several initiatives to attract major OEMs to manufacture electric two-wheelers in their domestic markets. For instance, the Government of India announced financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the scheme, there is a subsidy of up to INR 22,000 for electric scooters/electric bikes. Government promotions and schemes have led to an increase in sales of electric two-wheelers over the years.
The governments of many countries in the Asia Pacific region are focusing on electric two wheelers. For instance, China’s electric bikes have gained popularity in the European market due to their good quality and technological edge.
Key Players
The major market players include Yamaha Motor Corporation (Japan), Giant Manufacturing Co., Ltd (Taiwan), Accell Group N.V (Netherlands), Aima Technology Group Co., Ltd (China), and Yadea Group Holdings Ltd (China). These companies have strong distribution networks at the global level. The key strategies adopted by these companies to sustain their market position are new product developments, collaborations, and contracts & agreements. For instance, in October 2016, Giant Bicycle partnered with financial services player Affirm. Through the tie-up, Giant’s shoppers can pay for their bicycle purchases over time with Affirm. The company added this payment flexibility to its website for online buyers.
Recent Developments
- In July 2018, Yamaha introduced 600Wh multi-location in tube battery for Electrically Power Assisted Bicycles (EPACs), which offer a 20% capacity increase.
- In June 2018, Yamaha Motor Corporation introduced the PW series TE system (Quadra sensor System). This provides an automatic support mode in which the motor delivers appropriate power for every particular mode of driving.
- In June 2016, Accell Group N.V. introduced a new product Sparta M8i and the Haibike eConnect in 2016. It was the first addition of connected bicycle models to the portfolio. Sparta (Accell Brand) and Conneqtech partnered to develop the software to allow the Track&Trace system to communicate using the Internet. Haibike eConnect is developed by Haibike for certain sDuro 8.0 models, which links eBike to the digital world with the help of a GPS control module inside the bike.
- In October 2015, Yadea Group Holdings Ltd partnered with Gi FlyBike to produce an innovative smart bike in China and make the complex design of the FlyBike a reality.
- In December 2015, AIMA Technology Group Co. Ltd. launched the AIMA flagship store in Switzerland as it continued to promote the reputation, popularity, and loyalty of its brand, and finally increase its brand influence worldwide.
Critical Questions:
- How will the trend of class-III electric bike sales impact the market in the long term?
- How will the industry cope with the Electric two wheeler battery challenges?
- How do you see the impact of government safety regulations in the market?
- What are the upcoming trends in the e-bike market? What impact would they make post 2025?
- What are the key strategies adopted by top players to increase their revenue?
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Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Study
1.2 Product and Market Definition
1.3 Electric Bike Market Scope
1.3.1 Years Considered for the Study
1.4 Currency Exchange Rates
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.5 Market Breakdown and Data Triangulation
2.6 Research Assumptions and Limitations
2.6.1 Assumptions
2.6.2 Limitations
3 Executive Summary (Page No. - 25)
4 Premium Insights (Page No. - 29)
4.1 Attractive Opportunities in the Global E-Bike Market
4.2 Asia Pacific Leads the global Market in 2018
4.3 Market, By Class
4.4 Market, By Battery Type
4.5 Market, By Motor Type
4.6 Market, By Mode
4.7 Market, By Usage
5 Market Overview (Page No. - 36)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Concerns About Traffic Congestion
5.2.1.2 Rapid Urbanization
5.2.1.3 Government Initiatives to Reduce Emission Level
5.2.1.4 Growing Bicycle Tourism Industry
5.2.2 Restraints
5.2.2.1 Underdeveloped Aftermarket Services
5.2.2.2 Technological Challenges
5.2.2.3 Unplanned Infrastructure in Developing Countries
5.2.3 Opportunities
5.2.3.1 Government Initiatives to Regulate electric bikes & Improve Infrastructure for electric bikes
5.2.3.2 Bike Sharing
5.2.4 Challenges
5.2.4.1 Limited Distribution Channels
5.2.4.2 Misconstrued Perception About Cycling
6 Industry Trends (Page No. - 41)
6.1 Technology Overview
6.1.1 Introduction
6.1.2 Motor Drive Technology
6.1.3 Battery Technology
6.2 Regulatory Overview
6.3 Porter’s Five Forces
7 Market, By Class (Page No. - 48)
7.1 Introduction
7.2 Class-I
7.2.1 Class-I Segment Complies With the E-Bike Laws and Regulations of Many Countries
7.3 Class-Ii
7.3.1 Reasonable Prices Will Drive Growth Opportunities for the Class-Ii Segment in North America
7.4 Class-Iii
7.4.1 Class-Iii Segment is Expected to Be A Potential Solution for Car Replacement; Hence It is the Fastest Growing Market Among All Categories
8 Market, By Battery Type (Page No. - 53)
8.1 Introduction
8.2 Lithium-Ion
8.2.1 Oem Shift Toward Lightweight Bikes Will Boost the Demand for Lithium-Ion Batteries During the Forecast Period
8.3 Lithium-Ion Polymer
8.3.1 Increase in Demand for Lightweight Bikes and Improved Safety Will Drive the Growth of Lithium-Ion Polymer Batteries During the Forecast Period
8.4 Lead Acid
8.4.1 Technological Limitations are Expected to Decrease the Sales of Lead Acid Batteries During the Forecast Period
8.5 Others
8.5.1 Adoption of Solid-State Batteries Could Provide Growth Opportunities for the Segment
9 Market, By Motor Type (Page No. - 59)
9.1 Introduction
9.2 Hub Motor
9.2.1 Shift in Interests of electric bike Oems Towards Lightweighting Will Decrease the Growth of Hub Motors During the Forecast Period (2018–2025)
9.3 Mid Motor
9.3.1 Increase in Demand for Lightweight and Better Quality electric bike Will Boost the Demand for Mid Motors Segment
10 Market, By Mode (Page No. - 63)
10.1 Introduction
10.2 Pedal Assist Mode
10.2.1 Pedal Assist Mode Abides By the electric bike Laws and Regulations of Most Countries Across the Globe, Which Will Help Boost Its Demand During the Forecast Period
10.3 Throttle Mode
10.3.1 Throttle Type electric two wheelers Segment is Expected to Witness Negative Growth Owing to Incompatibility With E-Bike Laws and Regulations of Many Countries
11 Market, By Region (Page No. - 67)
11.1 Introduction
11.2 Asia Pacific
11.2.1 China
11.2.2 Japan
11.2.3 Taiwan
11.2.4 South Korea
11.2.5 India
11.3 Europe
11.3.1 Germany
11.3.2 The Netherlands
11.3.3 Belgium
11.3.4 France
11.3.5 Italy
11.3.6 Rest of Europe (RoE)
11.4 North America
11.4.1 Canada
11.4.2 US
12 Competitive Landscape (Page No. - 84)
12.1 electric bike Manufacturers
12.1.1 Overview
12.1.2 Market Ranking Analysis
12.1.3 Competitive Scenario
12.1.3.1 Contracts & Agreements
12.1.3.2 New Product Developments
12.1.3.3 Expansions
12.1.3.4 Mergers & Acquisitions
12.1.4 Competitive Leadership Mapping
12.1.4.1 Visionary Leaders
12.1.4.2 Innovators
12.1.4.3 Dynamic Differentiators
12.1.4.4 Emerging Companies
12.2 Component Suppliers
12.2.1 Overview
12.2.2 E-Bike Component Suppliers: Market Ranking Analysis
12.2.3 Competitive Scenario
12.2.3.1 Contracts & Agreements
12.2.3.2 New Product Developments
12.2.3.3 Expansions
12.2.3.4 Mergers & Acquisitions
12.2.4 Competitive Leadership Mapping
12.2.4.1 Visionary Leaders
12.2.4.2 Innovators
12.2.4.3 Dynamic Differentiators
12.2.4.4 Emerging Companies
13 Company Profiles (Page No. - 101)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 Market Manufacturers
13.1.1 Yamaha Motor Company
13.1.2 Giant Manufacturing Co. Ltd.
13.1.3 Accell Group N.V.
13.1.4 Aima Technology Group Co. Ltd.
13.1.5 Yadea Group Holdings Ltd
13.1.6 Pedego Electric Bikes
13.1.7 Merida Industry Co. Ltd
13.1.8 Trek Bicycle Corporation
13.1.9 Specialized Bicycle Components, Inc.
13.2 Component Suppliers
13.2.1 Robert Bosch GmbH
13.2.2 Samsung SDI Co. Ltd.
13.2.3 Continental AG
13.2.4 Panasonic Corporation
13.2.5 LG Chem Ltd
13.2.6 Johnson Matthey Battery Systems
13.2.7 Shimano
13.2.8 BMZ GmbH
13.2.9 Brose Fahrzeugteile
*Details on E-Bike Market Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies
14 Appendix (Page No. - 136)
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Available Customizations
14.3.1 Additional Company Profiles
14.3.1.1 Business Overview
14.3.1.2 SWOT Analysis
14.3.1.3 Recent Developments
14.3.1.4 MnM View
14.3.1.5 Who–Supplies–Whom Data
14.3.2 Region and Country Specific Market, By Value and Volume
14.4 Related Reports
14.5 Author Details
List of Tables (52 Tables)
Table 1 Currency Exchange Rates (WRT USD)
Table 2 Technology Developments in E-Bike: 1881–2018
Table 3 Electric Bikes Regulation in Europe
Table 4 Regulation in US
Table 5 Regulation in Asia
Table 6 Regulation in Asia (Taiwan)
Table 7 Regulation in Asia (China)
Table 8 Regulation in Asia (India)
Table 9 Market, By Class, 2016–2025 (Units)
Table 10 Class-I: Market, By Region, 2016–2025 (Units)
Table 11 Class-Ii: Market, By Region, 2016–2025 (Units)
Table 12 Class-Iii: Market, By Region, 2016–2025 (Units)
Table 13 Market, By Battery Type, 2016–2025 (Units)
Table 14 Lithium-Ion Battery: Market, By Region, 2016–2025 (Units)
Table 15 Lithium-Ion Polymer Battery: Market, By Region, 2016–2025 (Units)
Table 16 Lead Acid Battery: Market, By Region, 2016–2025 (Units)
Table 17 Others: Market, By Region, 2016–2025 (Units)
Table 18 Market, By Motor Type, 2016–2025 (Units)
Table 19 Hub Motor: Market, By Region, 2016–2025 (Units)
Table 20 Mid Motor: Market, By Region, 2016–2025 (Units)
Table 21 Market, By Mode, 2016–2025 (Units)
Table 22 Pedal Assist Type: Market, By Region, 2016–2025 (Units)
Table 23 Throttle Type: Market, By Region, 2016–2025 (Units)
Table 24 Market, By Region, 2016–2025 (Units)
Table 25 Market, By Region, 2016–2025 (USD Billion)
Table 26 Asia Pacific: Market, By Country, 2016–2025 (Units)
Table 27 Asia Pacific: Market, By Country, 2016–2025 (USD Billion)
Table 28 China: Market, By Usage, 2016–2025 (Units)
Table 29 Japan: Market, By Usage, 2016–2025 (Units)
Table 30 Taiwan: Market, By Usage, 2016–2025 (Units)
Table 31 South Korea: Market, By Usage, 2016–2025 (Units)
Table 32 India: Market, By Usage, 2016–2025 (Units)
Table 33 Europe: Market, By Country, 2016–2025 (Units)
Table 34 Europe: Market, By Country, 2016–2025 (USD Billion)
Table 35 Germany: Market, By Usage, 2016–2025 (Units)
Table 36 The Netherlands: Market, By Usage, 2016–2025 (Units)
Table 37 Belgium: Market, By Usage, 2016–2025 (Units)
Table 38 France: Market, By Usage, 2016–2025 (Units)
Table 39 Italy: Market, By Usage, 2016–2025 (Units)
Table 40 RoE: Market, By Usage, 2016–2025 (Units)
Table 41 North America: Market, By Country, 2016–2025 (Units)
Table 42 North America: Market, By Country, 2016–2025 (USD Billion)
Table 43 Canada: Market, By Usage, 2016–2025 (Units)
Table 44 US: Market, By Usage, 2016–2025 (Units)
Table 45 Contracts & Agreements, 2015–2018
Table 46 New Product Developments, 2015–2018
Table 47 Expansions, 2015–2018
Table 48 Mergers & Acquisitions, 2015–2018
Table 49 Contracts & Agreements, 2015–2018
Table 50 New Product Developments, 2015–2018
Table 51 Expansions, 2015–2018
Table 52 Mergers & Acquisitions, 2015–2018
List of Figures (44 Figures)
Figure 1 E-Bike Market: Segmentation
Figure 2 Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Market: Bottom-Up Approach
Figure 6 Data Triangulation
Figure 7 Global Market: Market Dynamics
Figure 8 Market, By Region, 2018–2025 (USD Billion)
Figure 9 Market, By Class, 2018 vs 2025 (Million Units)
Figure 10 Increasing Concerns About Vehicle Emission and Traffic Congestion Will Drive the Market During the Forecast Period
Figure 11 Market Share, By Region, 2025 (USD Billion)
Figure 12 Class I Segment to Hold the Largest Market Share, 2018 vs 2025 (Units)
Figure 13 Lithium Ion Battery is Expected to Hold the Largest Market Share By 2025 (Units)
Figure 14 Hub Motor to Hold the Largest Market Share, 2018 vs 2025 (Units)
Figure 15 Pedal Assist to Hold the Largest Market Share, 2018 vs 2025 (Units)
Figure 16 City/Urban Bikes to Hold the Largest Market Share, 2018 vs 2025 (Units)
Figure 17 Market: Market Dynamics
Figure 18 Porter’s Five Forces: Automotive Software Market
Figure 19 Class-I Segment is Estimated to Lead the Market During the Forecast Period (2018–2025)
Figure 20 Lithium-Ion Battery is Estimated to Lead the Market During the Forecast Period (Units)
Figure 21 Mid Motor Segment is Expected to Grow at A Higher CAGR During the Forecast Period (2018–2025)
Figure 22 Pedal Assist Mode is Estimated to Lead the Market During the Forecast Period (Units)
Figure 23 Asia Pacific is Expected to Dominate the Market During the Forecast Period
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Europe: Market Snapshot
Figure 26 North America: Market Snapshot (2018)
Figure 27 Companies Adopted Expansions as the Key Growth Strategy, 2015–2018
Figure 28 Market Ranking Analysis, 2016
Figure 29 Electric Bike Competitive Mapping, 2018
Figure 30 Companies Adopted Expansions as the Key Growth Strategy, 2015–2018
Figure 31 Market Ranking Analysis, 2016
Figure 32 Electric Bike Component Suppliers Competitive Mapping, 2018
Figure 33 Yamaha Motor Company: Company Snapshot
Figure 34 Giant Manufacturing Co. Ltd.: Company Snapshot
Figure 35 Accell Group N.V.: Company Snapshot
Figure 36 Yadea Group Holdings Ltd: Company Snapshot
Figure 37 Merida Industry Co. Ltd: Company Snapshot
Figure 38 Robert Bosch GmbH: Company Snapshot
Figure 39 Samsung SDI Co. Ltd.: Company Snapshot
Figure 40 Continental AG: Company Snapshot
Figure 41 Panasonic Corporation: Company Snapshot
Figure 42 LG Chem Ltd: Company Snapshot
Figure 43 Johnson Matthey Battery Systems: Company Snapshot
Figure 44 Shimano : Company Snapshot
The study involves four main activities to estimate the current size of the e-bike market. Exhaustive secondary research was done to collect information on the market such as sales of different types of electric bikes in Asia Pacific, Europe, and North America. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. A bottom-up approach was employed to estimate the complete market size of different segments considered in this study.
Secondary Research
The secondary sources referred to in this research study include automotive industry associations, the Confederation of the European Bicycle Industry, Europe (CONEBI), People for Bikes (US), Canadian Electric Bicycle Association (Canada), China Electric Bike Association; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and electric bike associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by multiple industry experts.
Primary Research
Extensive primary research was conducted after acquiring an understanding of the scenario of the market through secondary research. Several primary interviews were conducted with the market experts from both demand- side (OEM) and supply-side (e-bike component manufacturers) across 3 major regions, namely, North America, Europe, and Asia Pacific. Primary data was collected through questionnaires, emails, and telephonic interviews. In our canvassing of primaries, we strived to cover various departments within organizations, which included sales, operations, and administration, to provide a holistic viewpoint of the electric bike market in our report.
After interacting with the industry participants, we conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the opinions of the in-house subject-matter experts, led us to the findings as described in this report.
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Electric Bike Market Size Estimation
The bottom-up approach was used to estimate and validate the total size of the electric bike market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of volume, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. All parameters that are said to affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The data was triangulated by studying various factors and trends in the demand and supply sides in the e-bike market.
Report Objectives
- To define, segment, analyze, and forecast the market size, in terms of volume and value, of the market
- To provide a detailed analysis of numerous factors influencing the market (drivers, restraints, opportunities, and challenges)
- To define, describe, project, and provide a detailed analysis of various factors influencing the market based on class, battery type, motor type, mode, and usage
- To project the market across 3 key region-wise markets, namely, Asia Pacific, Europe, and North America
- To analyze regional markets for growth trends, future prospects, and their contribution to the overall market
- To analyze opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To strategically shortlist and profile key players and comprehensively analyze their market shares and core competencies
- To analyze recent developments, alliances, joint ventures, product innovations, and mergers & acquisitions in the market
Scope of the Report
|
Report Metric |
Details |
|
Market Size Available for Years |
2016–2025 |
|
Base Year Considered |
2017 |
|
Forecast Period |
2018–2025 |
|
Forecast Units |
Volume (Units, Million Units), Value (USD Million, USD Billion) |
|
Segments Covered |
Class, Battery Type, Motor Type, Mode, and Usage |
|
Geographies Covered |
Asia Pacific, Europe, and North America |
|
Companies Covered |
Yamaha Motor Corporation (Japan), Giant Manufacturing Co., Ltd (Taiwan), Accell Group N.V (Netherlands), Aima Technology Group Co., Ltd (China) and Yadea Group Holdings Ltd (China) |
This research report categorizes the market on the basis of class, battery type, motor type, mode type, and usage.
Market, By Class
- Class I
- Class II
- Class III
Market, By Battery Type
- Lithium Ion
- Lithium Ion Polymer
- Lead Acid
- Others (Nickel Cadmium, Nickel Metal Hydride, and Solid State Batteries)
Market, By Motor Type
- Mid Motor
- Hub Motor
Market, By Mode
- Throttle
- Pedal Assist
Market, By Usage
- Mountain/Trekking bikes
- City/Urban
- Cargo
- Others (Cruise, racing, etc)
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with company-specific needs.
The following customization options are available for the report:
Additional Company Profiles
- Business Overview
- SWOT Analysis
- Recent Developments
- MnM View
Country level analysis of electric bike market, by Class
Country level analysis of electric bike market, by Motor Type
Country level analysis of electric bike market, by Battery Type
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Growth opportunities and latent adjacency in E-Bike Market