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Electric Bike (E-Bike) Market Size, Share & Industry Analysis, By Propulsion Type (Pedal Assist, Throttle), By Battery Type (Lead Acid, Lithium-Ion, Nickle Metal Hydride, and Others) and Regional Forecasts, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI102022

 

KEY MARKET INSIGHTS

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Increasing prices for conventional fuels have boosted the demand for electric bikes globally. Conventional bikes account for a significant share of air pollution. Harmful gases released from conventional bikes cause greenhouse gases, which in turn results in global warming. Various governing bodies across the globe have imposed stringent emission norms eventually promoting the production of electric-bikes, which would help to curb the air pollution caused by conventional bikes.


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Manufacturers have heavily invested in R&D to develop advanced e-bikes that cause zero-emission and has high battery capacity. Electric power is the prime source of power in e-bikes as it completely replaces the IC engine by battery power. E-bikes consist of less moving parts; hence they are light in weight, have low maintenance, and are more efficient compared to conventional bikes. In recent years companies are also manufacturing electric pedal cycles, which is another name for pedal-assist e-bikes. In pedal assist, bike power is activated by peddling instead of throttling. These are proving to be beneficial for the cyclists, especially in the hilly area and on rough terrain, as it eases the effort of the cyclist to pedal hard. Increasing adoption of pedal-assist bikes is expected to drive the E-Bike market over the forecast period. The high cost of lithium-ion and nickel-metal hydride batteries are prime factors restraining the growth of electric bikes over the forecast period.


MARKET DRIVERS


“Stringent Emission Norms Imposed By Government is Expected to Drive the Market Over the Forecast Period


Conventional bikes cause a high amount of air pollution. Rising greenhouse gases is one of the major concerns for the environment globally; hence various governments across the globe have imposed stringent emission norms on manufacturing companies to develop environment-friendly vehicles. Governments in developing countries are coming up with multiple subsidies such as tax exemptions on the purchase of electric bikes. Various tax exemptions given by the government are attracting more consumers for the purchase of e-bikes, which in turn, is anticipated to drive the E-Bike market during the forecast period.


“ Rising Demand for the Lithium-Ion Batteries is Expected to Propel the Growth of the Market During the Forecast Period.”


Rising demand for lithium-ion batteries is anticipated to drive the market over the forecast period. Less life span and constant maintenance of lead-acid batteries are some of the significant factors fueling the growth of lithium-ion batteries. Heavy investment by manufacturing companies to develop an advanced lithium-ion battery that has low maintenance and high range battery capacity is anticipated to drive the market over the forecast period.


SEGMENTATION


By Propulsion Type Analysis


“Throttle Type Segment is Expected to Hold the Largest Market Share During the Forecast ”


Based on the propulsion type, the electric bike market is segmented into pedal assist and throttle type. The throttle type segment holds the largest market share and is anticipated to maintain dominance over the forecast period. Increasing air pollution amid the use of conventional bikes have fuelled the demand for environment-friendly e-bikes. In developing countries, governments have imposed norms to replace conventional bikes by 2025. For example, stringent norms have been set up in Europe to reduce CO2 emission by 20% by 2025. India has a large number of conventional bikes; hence it has plans to implement BS-VI in April 2020 in order to reduce emissions. Key manufacturers have heavily invested in R&D to develop advanced throttle assist electric bikes, which have low maintenance and high battery capacity. Increasing fuel prices and growing inclination of consumers towards e-bikes are expected to drive the throttle type segment over the forecast period.


The pedal assists segment is also expected to show good growth in the electric bike market over the forecast period. Various taxi service provides looking forward to adopting pedal-assist bikes, especially in developing and developed cities. This is expected to reduce traffic congestion and lower emissions. The growing inclination of consumers towards cost-effective transport is also one of the reasons which are increasing the growth of the pedal-assist segment over the forecast period. Increasing inclination towards e-bikes, especially for adventure sports, is one of the prime factors which is fueling the demand for pedal-assist bikes.


By Battery Type Analysis


“Lithium-Ion Battery Segment is Expected to Dominate the Market Share During the Forecast ”


Based on the battery type E-bike market is segmented into lead-acid, lithium-ion, nickel-metal hydride, and others. Lithium-Ion battery segment is anticipated to dominate the market during the forecast period. Lithium-Ion batteries provide high range and less weight compared to lead-acid batteries. Low maintenance of lithium-ion batteries is also one of the major reason which is fueling the growth of this segment globally.


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The lead-acid batteries segment is anticipated to decline over the forecast period amid its low range capacity and high weight. Various governments have imposed stringent regulations over the use of lead-acid batteries as they release lead from PRC into the environment. This release of lead in groundwater is proving hazardous to human health. Many key players are investing heavily in R&D to develop an environment-friendly lead-acid battery along with less weight and low cost.


REGIONAL ANALYSIS


Asia-Pacific is anticipated to dominate the electric bike system market over the forecast period.  China is the dominant player in the Electric Bike market in this region and globally amid the largest market share in terms of volume. China is anticipated to hold 70% of the e-bikes market globally amid high sales and production of e-bikes. Around 80% of e-bikes sold in Europe are imported from China; this is also one of the factors which are maintaining the dominance of Asia-Pacific in the E-Bike industry. The increasing disposable income of consumers is also one of the reasons which is leading to a wider adoption of e-bikes in this region.


Asia Pacific Electric Bike Market Size, 2018

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Europe holds the second-largest position in the market and is anticipated to show good growth over the forecast period. The stringent emission norms imposed by governments in this region are expected to drive the growth of the E-Bike market in this region. Early adoption of advanced technology in this region amid the presence of key players in this region is anticipated to maintain the second-largest position of Europe in this market.


North America is also expected to show good growth in the electric bike market. The U.S. is expected to show the dominance in this region amid stringent emission regulations imposed by the government to curb the rising air pollution.


INDUSTRY KEY PLAYERS


“Key Market Players are Developing Advanced Lithium-Ion Batteries Which Have High Range Capacity and Less Weight”


Key companies in the world dominate the Electric Bike market owing to their critical strategic decisions, robust product portfolio, and dominance of market share. These include a group of key companies with more extensive geographic presence and persistent R&D, resulting in secure regulatory approvals.


List Of Key Companies Profiled:



REPORT COVERAGE


The stringent government emission regulations and also government initiatives for clean and efficient transportation are expected to increase the global electric bike market’s growth. 


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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are recent industry developments such as mergers & acquisitions, the regulatory scenario in crucial countries, technological advancements in the electric bike, key strategies adopted by market leaders, competitive landscape, and company profiles.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Volume (Thousand Units) & Value (USD Billion)



Segmentation



By Propulsion Type



  • Pedal Assist

  • Throttle



By Battery Type



  • Lead Acid

  • Lithium-Ion

  • Nickel-Metal Hydride

  • Others



By Region



  • North America (U.S., Canada, Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

  • Rest of the world



INDUSTRY DEVELOPMENT:



  • April 2017:  Energica launched updated high-performance motorcycles, Eva and Eco, with increased power and torque along with bringing the vehicles under Euro4 regulations. Updated bikes offer onboard diagnostics, which helps to communicate with universal diagnostic tools.

  • March 2019:  Giant Manufacturing Co.Ltd launched its premium bike showroom in Mumbai, India. This is to be operated by Element Retailer, which is one of the leading retail players in India. Growing presence in developing countries such as India is expected to improve the global market dominance of Giant Manufacturing Co. Ltd.

  • March 2019:  Pedego Electric Bikes launches electric bikes called Pedego Patroller Electric Bikes in California. These bikes are designed to benefit police, security, and fire personnel to improve their response time. Pedego Patroller Bike offers smart torque sensor technology along with an automatic pedal-assist system.


Frequently Asked Questions

Fortune Business Insights says that the global market was at USD 7.68 billion in 2018 and is projected to reach USD 46.04 billion by 2026.

In 2018, this market was at USD 7.68 billion.

Growing at a CAGR of 24.5%, the global market will exhibit steady growth in the forecast period (2019-2026)

The battery type segment is expected to be the leading segment in the global market during the forecast period.

The stringent government emission regulations and government initiatives will be the key factors driving the growth of the global electric bike market.

Energica Motor Company, Giant Manufacturing Co.Ltd, and Pedego electric bikes are the top players in the global market.

Asia Pacific is expected to hold the highest market share in the global market.

Electric E Bike Market Size, Share and Global Industry Trend Forecast till 2026
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