Electric Bike (E-Bike) Market Research Report: By Ownership Type (Personal, Shared), Battery (Lithium-Ion, Lead Acid), Propulsion Type (Pedal-Assist, Throttle-Based)
NEW YORK, Feb. 06, 2020 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the global e-bike market share was valued at $14.4 billion in 2019 and is projected to reach over $25.9 billion by 2025, progressing at a CAGR of 10.3% during the forecast period (2020–2030). The pedal-assist category under propulsion type held the largest volume share in the market during the historical period.
The e-bike market is expected to witness the fastest growth, by volume, in the lithium-ion (Li-ion) battery category during the forecast period. This is based on its features such as lesser weight and higher energy density of these batteries, which support riders in covering more distance with each charge. Moreover, the continuously declining prices of Li-ion battery packs are further expected to support the fastest growth of the market in this category.
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The e-bike market is witnessing the shift toward the integration of smartphones with the electric bikes. The smartphone charging function and feature of attaching it on the bike-handle to make it an on-board computer attract more users to prefer these bikes. Moreover, many companies are currently engaged in developing software and gadgets for the integration of user’s smartphones in these bikes.
The rising level of pollution in many countries, which has become a serious concern for the government and people, boosts the need of green-technology-powered vehicles for commuting. In Japan, the Netherlands, Germany, Belgium, and several other countries, people have more preference for low-speed electric vehicles, especially pedal-assist electric bikes for commuting. Moreover, old-age people are majorly opting for these bikes for overcoming their health concerns and short-range commuting, which further drive the growth of the e-bike market.
The personal category, with around 95% value share, dominated the e-bike market in 2019. It is mainly attributed to the heavy usage of owned or personal bikes by individuals in transportation and sports activities worldwide. Moreover, the major markets for these bikes, such as China, Japan, the Netherlands, Belgium, and France, have high preference for using personal bikes for commuting.
Browse report overview with 101 tables and 43 figures spread through 134 pages and detailed TOC on "Electric Bikes Market Research Report: Global Industry Trends and Growth Forecast to 2025" at: https://www.psmarketresearch.com/market-analysis/e-bike-market
The li-ion category is projected to grow with highest CAGR, by volume, during the forecast period in the e-bike market. This is based on the fact that these batteries have longer life cycle and offer higher energy density leading to higher range per charge than others.
The pedal-assist category dominated the e-bike market during the historical period, with volume share of over 85% in 2019. It is mainly due to the fact that pedal-assist bikes do not generally require registration and licensing, and face lesser regulations than throttle-based ones.
North America is expected to witness fastest growth in the global e-bike market during the forecast period, accounting for over 14% value share in 2025. In the U.S., the market is gaining momentum in many states, due to growing usage of these bikes for recreational or health purposes and commuting from one place to other.
The APAC dominated the e-bike market during the historical period in terms of volume. In APAC, bike commuting has long been present as a mode of primary transportation in China, Japan, India, and several other countries. Moreover, the huge sales of low-speed electric two-wheelers in China, Japan, and Indonesia further support its domination in the global market. After China, Japan possessed significant share in the market during the historical period, in volume terms.
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Germany, the Netherlands, and Belgium dominated the e-bike market in Europe, during the historical period and accounted for over 55% share in 2019.
The e-bike market is fragmented in nature with the presence of AIMA Technology Group Co. Ltd., Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., and Accell Group N.V.
Industry players are consistently focusing on product launches and business mergers to remain competitive in the market. For example, in November 2019, Harley-Davidson Inc. unveiled prototype of its electric bike at EICMA motorcycle Show 2019, in Milan. The bike is scheduled to be launched in 2020.
Some of the other key players operating in the e-bike market are Dongguan Tailing Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Merida Industry Co. Ltd., Trek Bicycle Corp., and Yamaha Motor Co. Ltd.
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