New York, July 19, 2023 (GLOBE NEWSWIRE) -- The global e-bike charging station market size is predicted to grow at a CAGR of over ~20% from 2023 to 2033. The market is projected to garner a revenue of USD 18 billion by the end of 2033, up from a revenue of ~USD 3 billion in the year 2022, backed by an increase in the popularity of electric bicycles and e-bikes as environmentally friendly vehicles along with the rise in sales of electric bikes worldwide. It was observed that approximately 125 million electric bicycles equipped with all types of batteries are anticipated to be sold worldwide between 2020 and 2023. Also, worldwide sales of e-bikes are expected to reach nearly 38 million units in 2023, resulting in revenue of about USD 19 billion.
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With the increasing population, the demand for energy has also increased, leading to a rise in emissions from the burning of fossil fuels. This has caused a depletion of the ozone layer and an increase in the greenhouse effect, leading to global warming. Electric bikes and vehicles are an alternative source of energy that does not produce emissions, thus helping to reduce the impacts of global warming. Therefore, the popularity of e-bikes and electric bicycles is expected to increase the number of charging stations that are built in order to meet the growing demand for these vehicles.
Global Electric Bike Charging Station Market: Key Takeaways
- Market in Asia Pacific to experience the fastest growth rate
- Dockless segment will grow at the fastest pace
- Market in Europe to witness potential growth rate
Innovations in the Field of E-Bike Technology to Boost Market Growth
The growing popularity of electric bikes has contributed to technological advancements in this field, including the development of electric bikes with connectivity and internet access, which is projected to fuel e-bike charging station market growth over the forecast period. An electric bike with a connected system offers a number of key features, including GPS navigation, emergency contacts, theft prevention, social media integration, and remote monitoring. This wireless connectivity has made electric bikes much more attractive to consumers. The system allows for remote monitoring and control, tracking performance data, and receiving alerts when something goes wrong. This has made electric bikes much more accessible and user-friendly. Moreover, major companies are investing heavily in the manufacture of advanced e-bikes, creating a favorable environment for the development of high-powered charging stations for e-bikes. For instance, in October 2021, a major investment of USD 154 million was made by Rad Power Bikes, one of the largest electric bicycle companies in the United States. The funding is planned to be used to expand the company's production capabilities, allowing them to produce more advanced electric bicycles at a lower cost.
Global Electric Bike Charging Station Market: Regional Overview
The global e-bike charging station market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Government Initiatives Aimed at Promoting the Rental of E-Bikes to Drive Growth in the Asia Pacific Region
The Asia Pacific electric bike charging station industry is estimated to garner the largest revenue by the end of 2033, backed by the increasing demand for battery-powered electric two-wheelers that are energy-efficient and emission-free. As a result of the growing demand for electric two-wheelers in the region, charging stations are being established in order to provide the necessary infrastructure for these vehicles. For instance, an Ola Mobility subsidiary, Ola Electric, established 100 thousand charging stations across 400 cities in April 2021. In addition, Ola is developing a hyper charging network so that people can charge their Ola scooters anywhere they are within five to ten minutes. Moreover, the involvement of major players and the early adoption of advanced technologies, as well as government initiatives promoting e-bike rental trials, are expected to boost the e-bike charging station market in the region. For instance, Pune Municipal Corporation (PMC) announced the launch of an electric two-wheeler rental program in 2020. The project is part of the "Green Pune" initiative and will be managed by V-Tro Motors along with 500 charging stations spread throughout Pune.
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Expanding Dockless Charging Infrastructure and E-bike Charging Stations in Tourist Areas to Drive Growth in Europe
The e-bike charging station market in the Europe region is estimated to garner the highest CAGR by the end of 2033 on account of the increasing popularity of e-bikes as a convenient and eco-friendly mode of transport and the governments' incentives in the form of subsidies and tax discounts to promote the adoption of electric mobility vehicles. Additionally, the growth of dockless charging infrastructure and the deployment of e-bike charging stations in public and tourist areas are expected to further drive market growth in the region. For instance, in 2018, Bosch introduced its own e-bike charging stations called PowerStations, which were introduced in certain tourism regions. Bosch's goal with this initiative was to expand its presence in the e-bike market and provide a reliable power source for e-bikes in popular tourist destinations. Furthermore, the growing sales of e-bikes and the rising number of collaborations between companies and local governments to develop charging stations are making electric bikes more accessible and user-friendly, which are projected to drive regional market growth over the forecast period.
Electric Bike Charging Station Segmentation by Infrastructure Type
- Dock
- Dockless
The dockless segment is anticipated to hold the largest revenue by the end of 2033, driven by the increasing number of electric bicycle rental companies in Europe and North America that are providing dockless electric bicycle facilities in response to the increasing demand for electric bicycle rentals. Dockless electric bicycle facilities make it much easier for customers to pick up and return bikes, as they don't have to find and return the bike to a designated station. This makes the process much more convenient for a customer, which is why the demand for these services has grown. Moreover, with the rise in demand for electric bicycle rentals, companies are looking for ways to meet this demand by installing charging infrastructure, like charging garages, for their customers to charge their electric bikes. This is helping to make electric bicycle rentals more accessible and attractive to potential customers. For instance, a micromobility company, GetCharged Inc., which develops charging networks, storage, and service stations for electric scooters, announced its plans to deploy dockless charging stations for electric cars across North America.
E-Bike Charging Station Segmentation by Battery Type
- Lead Acid
- Lithium-Ion
- Others
The lithium-ion segment is expected to grow the most by 2033 owing to its numerous advantages over other batteries, including a long bicycle battery life, environmentally friendly characteristics, and higher power ratio. Lithium-ion batteries are also lighter and more efficient in terms of energy storage, making them ideal for applications such as electric vehicles, portable electronics, and stationary energy storage systems. Additionally, they have a better cycle life than other types of batteries and less of an environmental impact since they contain no toxic materials. Furthermore, the increased use of lithium-ion batteries by e-bike manufacturers to produce light-duty electric bikes with high energy consumption is forecast to further boost segment growth. For instance, in comparison with lead acid batteries, lithium-ion batteries have an energy density of 90–220 Wh/KG, while lead acid batteries have 50–90 Wh/KG. A lithium-ion battery is typically 95% efficient, meaning that 95% or more of the energy stored in the battery can be converted into electricity.
E-Bike Charging Station Segmentation by Type
- Electric Scooters
- Motorcycles
- E-Bikes
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E-Bike Charging Station Segmentation by Charging Type
- Level-1
- Level-2
- DC Fast Chargers
Few of the well-known market leaders in the global e-bike charging station market that are profiled by Research Nester are EV Charging Solutions, Inc. dba EVCS, Tritium DCFC Limited, MEGAtimer GmbH - bike-energy, Robert Bosch GmbH, EVBox, Swiftmile, Inc., Rolec Services Limited, FreeWire Technologies, Inc., Get Charged, Inc., Parkent Cycles Inc., and other key market players.
Recent Development in the Global Electric Bike Charging Station Market
- Tritium DCFC Limited, a company based in Western Australia, has announced that it will provide a fast charger network for an EV highway covering a distance of more than 7,000 kilometers (4,350 miles).
- A fast-charging network operator on the West Coast, EVCS, recently announced that until the West Coast Electric Highway (WCEH) charging stations are upgraded, electric vehicle owners will be able to charge for free at charging stations.
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