Ebike Market

Top Companies in Ebike Industry - Accell Group NV (Netherlands), Pon Bike (Netherlands), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Company (Japan), Merida (Taiwan), and Specialized Bikes (US)

The global e-bike market is projected to grow from USD 48.7 billion in 2024 to USD 71.5 billion by 2030 at a CAGR of 6.6% from 2024 to 2030. The growth in the e-bike industry is projected majorly due to rising traffic congestion in cities, upscaling of e-commerce business, and growing focus towards health benefits & carbon emissions.

Key market players are primarily adopting strategies such as developing new products to expand their customer base and consistently enhance their offerings. These companies are integrating new technologies, like connected e-bikes, lightweight frames, and innovation in batteries to align with the trends of digitalization and urbanization, thereby meeting consumer demand. Leading companies, including Pon Bike (Amsterdam) and Yadea Groups Holding Ltd. (China), are concentrating on boosting their production capacity to satisfy the increasing demand. The e-bike market is led by established players such as Accell Group NV (Netherlands), Pon Bike (Netherlands), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Company (Japan), Merida (Taiwan), and Specialized Bikes (US).

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Accell Group NV

Accell Group NV is a prominent player in the e-bike industry, producing bicycles, bicycle parts, and accessories. It operates through two main segments: Bikes and Parts. Accell Group secures supply contracts from governmental and private entities to expand its business, aiming to boost sales volumes. For example, in 2020, the company obtained a supply order for e-bikes from the Dutch National Police. Accell Group NV is committed to developing products tailored to specific applications, focusing on innovation in the adventure and e-cargo sectors. Accell Group NV operates in the Netherlands, Germany, Europe, and other regions. In 2022, An investment firm-led consortium headed by KKR acquired 96.9% of Accell Group shares by Thursday's end of the post-acceptance period.

Giant Manufacturing Co. Ltd.

Giant Manufacturing Co. Ltd. (Giant Manufacturing) produces bicycles and cycling gear. The company is intensely focused on a new product development strategy. For example, in 2022, the company introduced several e-bikes, such as the Trance X E+, Voya E+ 1, and Voya E+ 3. Additionally, Giant is exploring the IoT sector by developing the Internet of Bikes (IoB). These e-bikes can connect to hardware components like SyncDrive motors, EnergyPak battery systems, RideControl control units, and screens. They also integrate with the exclusive RideControl App and Service Platform, which offers inspection services, enabling customers to enjoy a comprehensive cycling experience from riding to social networking and after-sales services. In January 2023, Giant Manufacturing Co. Ltd. committed to investing $20 million in Stages Cycling, acquiring a 32.5% stake in the company's common stock. Giant operates in Europe, Asia, America, Taiwan, and other regions.

Giant's revenue for the first half of 2023 has decreased significantly, showing a 54% decline compared to the previous year. This decline is mainly due to reduced product sales in Europe and America, with American sales plummeting by 44%. Conversely, the Chinese market exhibited a positive trend, with increased sales driven by a growing interest in performance cycling. Despite the decline, e-bike sales constituted 35% of Giant's revenues in the first half of the year, highlighting the company's ongoing commitment to the e-mobility sector.

Yadea Group Holdings Ltd.

Yadea Group Holdings Ltd is involved in designing, researching, developing, manufacturing, and selling electric scooters, bikes, and accessories. The company plans to offer high-quality products like the Camper, Trooper 01, Urban Rider, and Innovator through retail stores, online platforms, and exhibitions like CES, Sea Otter, EUROBIKE, and EICMA. Yadea is set to open a store in San Francisco, a comprehensive flagship store in Los Angeles, and 100 Integrated Brand Dealer (ISD) stores in the first half of 2023. The company focuses on enhancing brand influence, product development, and expanding production capacity and distribution networks domestically and internationally. In January 2023, Yadea Group Holdings Ltd. (China) launched the Innovator which is a folding electric bike. It has an electric motor that aids while pedaling, making it easier to climb hills or ride longer distances. With a large capacity battery, the Innovator promises a decent range on a single charge, potentially reaching up to 55 miles. Additionally, Yadea is exploring overseas markets and enhancing its research and development capabilities.

Pedego Electric Bikes

Pedego Electric Bikes, based in California, manufactures both conventional and electric bicycles. It offers e-bikes in various categories, including Cruiser, Low-step, City, Adventure, and Specialty, with motors ranging from 350 to 750W. The company provides all three e-bike classes, Class I, Class II, and Class III, and is a famous brand in the Americas. Pedego produces a full range of 21 electric bike models and operates over 200 stores, which provide sales, rentals, tours, accessories, and services. In July 2021, the company achieved nearly USD 121 million in sales. Pedego Electric Bikes has a very strong product portfolio that offers eBikes for application purposes, providing different options to customers as per their needs. Apart from the eBikes, the company also focuses on developing customized accessories like safety gear, comfortable seats, and child seats. This strengthens the company's strategy to increase customer footfall in the stores.

In April 2024, Pedego Electric Bikes (California) launched the Pedego Fat Tire Trike bike with three tires and a low-step frame design. It is equipped with PEDALSENSE, a propulsion software that provides various riding options, such as throttle drive, torque assist, and cruise assist. The bike is powered by a 52V battery with a power output of 750W.

Yamaha Motor Co. Ltd

Yamaha Motor Co., Ltd. operates through several business segments, including Land Mobility, Marine Products, Robotics, Financial Services, and Others. The Land Mobility segment is a significant part of the company's operations, offering a wide range of products such as motorcycles, parts, four-wheel buggies, snowmobiles, and electrically assisted bicycles. These products are sold globally in over 200 countries.

Recently, eBikes and drive systems were previously categorized under the "Other" segment but are now included in the Land Mobility segment. This segment also manufactures various types of vehicles, including all-terrain vehicles, recreational off-highway vehicles, golf cars, snowmobiles, generators, small-sized snow throwers, and multi-purpose engines. In September 2023, Yamaha Motor Co., Ltd. (Japan) and Fantic Motor (Italy) announced a partnership unveiling its latest innovation with the launch of the YMC PW-X3 (85 Nm) motors in Fantic’s Ebike models.

The company's various e-bikes include fitness/lifestyle, all roads, and mountains. The production of ebike-related products is carried out in Shizuoka, Japan. The company also offers e-bike systems such as drive units, display & switches, and battery packs & chargers. In April 2023, Yamaha expanded its e-bike range with the launch of the new Yamaha Booster and Yamaha Booster Easy models, marking the debut of the Yamaha Booster line-up. The market in Asia is the highest contributor to its revenue, with more than 50% share of the total revenue.

Related Reports:

Ebike Market by Class (Class I, II, & III), Battery (Li-ion, Li-ion Polymer, Lead Acid), Motor (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Battery Capacity, Component, & Region - Global Forecast to 2030

Mr. Aashish Mehra
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Ebike Market Size,  Share & Growth Report
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