E-Bike Market By Propulsion (Pedal Assist and Throttle On-Demand), By Motor Type (Hub Motor and Mid Motor), By Battery (Lithium-Ion and Lead-Acid), By Power (Low (< 250 W), Mid (250 - 500 W), and High (> 500 W), By Sales Channel (Aftermarket and OEMs), By Application (On-Road and Off-Road) – Global Analysis & Forecast 2020-2030.
Report ID : 401 | Published Date : Sep 2020 | Pages : 160 | Region : Global | Report Code : AT-19
E-Bike Market Overview and Introduction
The adoption of electrification in vehicles has been shaping the future of the automotive industry. E-bikes are similar to traditional bikes with the addition of electric motors. E-bikes are not the latest technology. Several patents associated with electric bicycles have been granted in the 1890s. For instance, in the U.S., Ogden Bolton filed a patent (US Patent 552,271,1895) for a bicycle battery with six brush poles in 1895.
However, e-bikes first became popular in China as the Chinese government started manufacturing electric bikes with an official technology goal in 1991. In the 20th century, the e-bike market is gaining momentum across the world due to the advantages that it offers including a simple option to address urban transport problems, pollution-free, and cost-effectiveness when compared with other alternatives.
At present, several regional governments have been undertaking critical initiatives, such as promoting electric bikes, to reduce carbon emissions and dependency on crude oil. For instance, in 2019, the U.S. president signed a federal tax credit bill. The bill covers 10% of the purchase price on a new E-bike (Up to US$2500). Such initiatives are the main driving factors present in the market.
However, underdeveloped charging infrastructure in some geographical regions and the high costs associated with batteries are the major factors limiting the market growth. The lack of awareness regarding its benefits and unstructured aftermarket services will hamper the market growth.
E-Bike Market By Propulsion
Based on propulsion, the e-bike market can be segmented into pedal assist and throttle on-demand. The throttle on-demand segment accounted for the largest market share in 2019 and is expected to grow at the highest CAGR during the forecast period 2020-2030. The growth of this segment can be attributed to the increasing adoption in North America.
E-Bike Market By Battery
Based on battery, the e-bike market can be segmented into lithium-ion and lead-acid. The lithium-Ion battery-based e-bike segment accounted for the largest market share owing to the advantages that it offers such as low maintenance costs, easy & fast charging, and high safety levels. Moreover, the long life-span of lithium-ion batteries, when compared with lead-acid batteries, is another major advantage supplementing the growth of this segment.
E-Bike Market by Region
Based on region, the global e-bike market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific accounted for the largest market share and will dominate during the forecast period. The market growth in this region can be attributed to the increasing demand from high potential countries such as India, China, Japan, and South Korea. Moreover, the increasing utilization of e-bikes for recreational purposes in this region is further supplementing the market growth.
E-Bike Market Prominent Players
Some of the prominent players in the E-bike market include Accell Group, AIMA TECHNOLOGY CO., LTD, Giant Bicycles, MERIDA BIKES, Pedego Electric Bikes, Riese & Müller GmbH, Shenzhen Counterbalance Technology Co., Ltd (F-wheel), Trek Bicycle Corporation, VADEA TECHNOLOGY CO., LTD., and Yamaha Motor Co., Ltd., among others.