Newark, NJ, Feb. 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global e-bike market is expected to grow from USD 17.12 billion in 2017 to USD 27.26 billion by 2025 at a CAGR of 6.0% during the forecast period from 2018-2025. E-bike market has been witnessing rapid growth from the past few years. With the support of various government and favourable policies for e bikes, the global e-bike market has been observing the bright opportunities. In addition to this, inclination towards cycling for recreational and fitness has propelled a massive shift in consumers, who are fitness conscious as e-bike riding helps in traveling longer distances by pedaling the same amount.
Electric bikes, also known as e-bikes are simple scooters or bicycles with an electric motor integrated into it for momentum. They use rechargeable batteries that can travel up to 25 to 32 km/h, depending on the country’s government regulation. They incorporate use of chargeable batteries, which have different capacities depending upon their size. Electric bikes are categorised on the basis of the power of electric motor on which they run. Peddle assist, speed pedelec, throttle on demand, and electric moped or motorcycle are the different categories of electric bikes.
Global e-bike market is expected to witness rapid growth over the forecast period, owing to increasing consumer preference for e-bikes as an eco-friendly and efficient solution to travelling. In addition to this, favorable government policies to support electric bikes, also fuelling the growth of the market. On the flip side, ban on e-bike use in several cities in China and the high cost of the electric bikes are expected to hinder the market growth during this period. However, R&D activities aimed at improving bike performance and bicycling infrastructure have witnessed increased investment, anticipated to offer future growth opportunities in the market.
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Key players operating in the global e-bike market include Jiangsu Xinri E-Vehicle Co., Ltd., BH BIKES, FRITZMEIER, Klever Mobility, Accell Group, Derby Cycle, Easy Motion USA, Moustache Bikes, Leader 96, myStromer AG, Karbon Kinetics Limited (KKL), Pedego Electric Bikes, and A2B Electric Bikes among others. To enhance their market position in the global E-bike market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership.
- For instance, in April 2018, Uber has reached to a deal to acquire Jump, electric bike startup which operates dock less bike sharing services.
- In April 2019, Accell Group and Fletcher Hotels announced the partnership and signed a contract for the delivery of 1,300 Sparta e-bikes to the Dutch hotel chain via B2B-partner Zilt bikes.
- In December 2019, BH BIKES announced the launch of a new Core model range, which includes an e-bike for assisted gravel adventuring.
- In July 2017, Klever Mobility announced the launch of X-Range e-bike, which will be offered in four different models including, the Limited Edition, the Commuter, the Raw, and the 45 km/h version Speed.
The pedelecs segment accounted for the major market share and valued around USD 8.44 billion in 2017
The product segment is classified into throttle on demand, pedelecs, scooter & motorcycle. The pedelecs segment accounted for the major market share and valued around USD 8.44 billion in 2017. It is a bicycle where the rider's pedaling is assisted by a small electric motor. The segment is dominated owing to its high adoption across the globe. This segment comprises speed pedelec and pedelec e-bikes based on their power assistance and speed difference.
The hub motor segment is dominating the market with the highest share 48.90% in 2017
Drive mechanism segment is divided into segments such as hub motor, mid drive and others. The hub motor segment is dominating the market with the highest share 48.90% in 2017. The hub motor is the most-widely used drive mechanism in which either of the wheel is replaced with one having a hub motor connected by a wire to a battery or motor controller.
The lead acid segment held the highest market share and valued around USD 6.86 billion in 2017
Battery type segment includes nickel-metal hydride (NiMH), lead acid, lithium ion, and others. The lead acid segment held the highest market share and valued around USD 6.86 billion in 2017, owing to its low cost and ease of recycling.
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Regional Segment Analysis of the E-Bike Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia- Pacific region dominated the global E-bike market with USD 7.39 billion in 2017. This is mainly attributed to the presence of developing nations such as China, Japan and India. China is the largest market for an electric bicycle, and since 2015, the sales of e bikes have grown massively in China. China has been focusing across all scopes of the supply side of e bikes including current and projected production of e bikes and their components, such as lithium-ion battery cells and electric motors for making profits. Europe is witnessing a high demand growth. The Netherland is one of the largest market for e bikes in Europe, along with Austria and Denmark. Portugal is expected to become a major production center in Europe, as the country is able to meet the demand for supply chain flexibility and increased speed to market.
About the report:
The global e-bike market is analysed on the basis of value (USD Billion), volume (Thousand units), export (Thousand units), and import (Thousand units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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