Market Leader - E-Bike Market
The e-Bike market size is projected to reach USD 80.6 billion by 2027 from an estimated USD 49.7 billion in 2022, at a CAGR of 10.2% from 2022 to 2027. The base year for the report is 2021, and the forecast period is from 2022 to 2027.
The market is expected to witness growth due to some of the major factors such as development in cycling infrastructure across the world, increase in demand for eco-friendly mobility solutions, rising traffic congestions, increasing fuel prices and growing interest in cycling as a fitness and recreational activity.
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The e-Bike market is dominated by major players such as Accell Group NV (Netherlands), Pon.Bike (US), Merida Industry Co. Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Company (Japan). These companies have adopted expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing e-Bike market.
Accell Group N.V is one of the prominent global player in e-Bike market and offers a wide range of products and solutions related to e-bikes. Accell Group N.V has a focus on investment in R&D activities for upgrading plants, distribution networks and products. For instance, in 2021, the company invested USD 7 million in R&D activities for e-bikes segment. A strong product portfolio and established and recognized brands of e-Bikes are the key strengths of the company. Some of the well-known bicycle brands of the company include Haibike (Germany), Winora (Germany), Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), and others. The company collaborates with startups, universities, and innovative suppliers to make bikes smarter and quickly roll out new concepts. For instance, in 2020, the company received a supply order from the Dutch National Police for e-Bikes.
Pon.Bike is mapped among the major players in the e-bike market due to its strong focus on expansion and growth strategies. In October 2021, Pon.Bike acquired Dorel Sports (US) to expand the product portfolio in the premium e-Bikes segment. Further, for growing the sales, the company has opened more than 10 experience centers in the Netherlands for customer service and for better customer reach. Pon.Bike has majorly focused on growing the sales and distributions network and has its presence in the Netherlands, Germany, US, Canada, China, Taiwan, the UK, Hong Kong, Australia, and Brazil.
Merida Industry Co., Ltd has continuously strengthened its international export business and international brand development. It exports to more than 77 countries in the world. Merida Industry Co., Ltd always emphasize on developing new technologies in order to minimize production time, reduce waste and improve performance of the products. For instance, in 2018, the company introduced the laser cutting technology to its production facilities. As a part of the marketing and branding strategy, Merida Industry Co., Ltd participates and provide sponsorship to teams in cycling events. For instance, in February 2022, the company entered into strategic partnership with Team Bahrain Victorious (Bahrain).
Giant Manufacturing Co., Ltd has a comprehensive supply chain from its R&D to production and sales, giving it a unique competitive advantage. As a part of the expansion strategy, Giant Manufacturing Co., Ltd has developed nearly 10,000 sales channels for gaining the competitive edge over the competitors. The company is aggressively emphasizing the new product development strategy. For instance, in 2022, Giant Manufacturing Co., Ltd launched several e-bikes, including Trance XE+, Voya E+ 1, and Voya E+3.
Yamaha Motor Company is another leading player in the e-Bike market. The company has a strong presence in all major global markets such as Asia, Europe, North America, and Others. Yamaha Motor Company operates through manufacturing facility Shizuoka, Japan and has a strong employee base of nearly 51,249 globally. Also, apart from the e-Bikes Yamaha Motor Company supplies drive systems to main e-bike manufacturers in Europe. The company leads technological and product developments through its dedicated research activities. For instance, in January 2022, Yamaha Motor Company introduced 2 new models named Wabash RT and Crosscore RC for all terrain mobility usage.
Related Reports:
E-Bike Market by Class (Class-I, Class-II, Class-III), Speed (Up to 25km/h, 25-45 km/h), Battery Type (Lithium-ion, Lithium-ion Polymer, Lead Acid), Motor Type, Mode (Pedal Assist, Throttle), Component, Usage, Ownership and Region - Forecast to 2027
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Mr. Aashish Mehra
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