E-bike Market

Market Leaders - E-Bike Market

The global E-Bike market is projected to reach USD 77.2 billion by 2028 from USD 51.5 billion in 2023, at a CAGR of 8.4% from 2023 to 2028. The growth in E-Bike industry is expected mainly due to driving factors for market like increasing traffic congestion, growing interest in cycling as a fitness and recreational activity, and the inclination of consumers toward an eco-friendly solution for commuting.

The strategies majorly adopted by the key market players includes new product development to broaden its customer base and continuously keep improving the products. The companies are introducing new technologies such as connected e-bikes to cope up with the current market trends of digitalization and urbanization in order to meet customers demand. Few major companies like Pon Bike and Yadea are focusing on increasing production capacity to meet th growing demand.

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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).

Accell Group NV

Accell Group NV is a significant player in e-bike market which manufactures bicycles, bicycle parts, and accessories. It has two business segments, namely, Bikes and Parts. Accell Group focuses on growing its business by acquiring supply contracts from the government as well as private organizations to increase the sales quantity in bulk volumes. For instance, in 2020, the company received a supply order from the Dutch National Police for e-Bikes. Accell Group NV focuses on application-wise product developments. The company focuses on innovation in the adventure and e-cargo segments. The company collaborates with startups, universities, and innovative suppliers to make bikes smarter and quickly roll out new concepts. The company’s presence is in The Netherlands, Germany, Europe and some other regions.

Giant Manufacturing Co. Ltd.

Giant Manufacturing Co. Ltd. (Giant Manufacturing) is a manufacturer of bicycles and cycling gear. The company is aggressively emphasizing the new product development strategy. For instance, in 2022, it launched several e-bikes, including Trance XE+, Voya E+ 1, and Voya E+3. Giant also taps into the IoT segment and develops IoB (Internet of Bikes). E-bike can therefore not only be connected to hardware including SyncDrive motors, EnergyPak battery systems, RideControl control units and screens, but also to its exclusive RideControl App and the Service Platform where inspection services are offered, allowing consumers to enjoy a complete cycling experience from riding, social networking to after-sales services. The company has presence in Europe, Asia, America, Taiwan and other regions.

Yadea Group Holdings Ltd.

Yadea Group Holdings Ltd. is engaged in the design, research, development, manufacturing, and sale of electric scooters, electric bicycles, and related accessories. The company is planning to sale high quality products including Camper, Trooper 01, Urban Rider, and Innovator, through retail stores, online sales, and exhibitions such as CES, Sea Otter, EUROBIKE, and EICMA. The company is expected to open store in San Francisco and a comprehensive category flagship store in LA, as well as 100 Integrated brand dealer (IBD) stores, in the first half of 2023. Yadea Group focusing on brand influence, product development, expanding its production capacity and distribution network domestically and internally, exploring overseas market as well as improving its research and development capability.

Specialized Bicycle Components, Inc.

Specialized Bicycle Components, Inc. is a manufacturer of bicycles and their components. It manufactures both conventional and electric bicycles. It offers mountain bikes, road bikes, transport bikes, fitness bikes, path & gravel bikes, and kids bikes. In 2001, Merida Industry Co. acquired a 49% share of the company. The subsidiaries of Specialized Bicycle Components, Inc. include Specialized Central Europe, Inc.; Specialized Italy, Inc.; Specialized UK, Inc.; and Specialized Canada, Inc. The company has its specialized subsidiaries in the UK, Canada, Italy, the Netherlands, Japan, China, Portugal, Taiwan, Mexico, the Czech Republic, Poland, Australia, Brazil, New Zealand, Korea, South Africa, Chile, Germany, Russia, Ireland, Sweden, Argentina, and Singapore.

During COVID-19, Specialized Bicycle Components, Inc faced issues in maintaining contact with riders, retailers, and staff, affecting its sales and services.  The pandemic forced many port closures and factory quarantines, creating a global supply-chain crisis. Hence, to cope with this crisis, the company shifted to the Oracle E-Business suite platform in 2021, which helped it grow even on an e-commerce platform.

Yamaha Motor Co. Ltd

Yamaha Motor Co. Ltd operates through the following segments: land mobility, marine products, robotics, financial services, and other products. The land mobility segment offers motorcycles and parts, four-wheel buggies, snowmobiles, and electrically assisted bicycles. The products are sold in more than 200 countries. In 2017, e-bikes and drive systems were included in the others segment. However, from 2018 onward, e-bikes and drive systems have been included in the land mobility segment. This segment also engaged in manufacturing of all-terrain vehicles, recreational off-highway vehicles, golf cars, snowmobiles, generators, small-sized snow throwers, and multi-purpose engines.

The various types of e-bikes provided by the company include fitness/lifestyle, all roads, and mountains. The production of e-bike-related products is carried out in Shizuoka, Japan. The company also offers e-bike systems such as drive unit, display & switch, and battery pack & charger. The market in Asia is the highest contributor to its revenue, with more than 50% share of the total revenue.

Related Reports:

E-bike 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 2028

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E-bike Market Size,  Share & Growth Report
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