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E-Bikes Market Size By Product (Cargo Bike, Trekking Bike, City/Urban Bike), By Battery (SLA, Lithium-Ion, NiMH), By Motor (Hub Motor, Mid Motor), By Propulsion Type (Peddle-assist, Throttle-assist), By Sales Channel (Online, Offline), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027

  • Report ID: GMI3525
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

E-Bikes Market size crossed USD 25 billion in 2020 and is projected to grow at over 6% CAGR between 2021 and 2027. The increasing demand for environment-friendly mobility solutions and growing population will drive the industry growth.
 

Electric bikes are gaining traction as a flexible, eco-friendly, and versatile mode of transport, especially for shorter distances. Majority of users are preferring e-bikes as an ideal substitute for public transport, personal vehicles, and scooters. These bikes innovative nature, advanced features, and exquisite designs will increase their market representation globally.
 

E-Bikes Market

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Bikes are one of the preferred solutions for fast and convenient mobility, thereby creating favorable environment for the electric bikes market. Supportive government regulations to promote the sustainable mobility solutions to minimize the pollution from vehicles will expand the market revenue. For instance, in May 2020, the Government of Italy announced to provide a subsidy up to USD 570 on purchasing new e-bikes or bicycles for the Italian cities with more than 50,000 inhabitants. This initiative is a part of the USD 62.7-million package to support Italian economy.
 

High initial cost of e-bikes and fewer models available in the market as compared to fuel-powered bikes are important factors hampering the industry statistics. Expensive repair & maintenance cost especially related to battery and electric motors is also affecting the market growth. To address this issues, various automotive battery providers are innovating new sealed & smart batteries to reduce the maintenance cost and to extend the battery life. For instance, in June 2021, E-Magy, a startup in the Netherlands, successfully applied nano-sponge silicon technology to solar panels, increasing the e-bikes lithium-battery capacity by 40% without any impact on battery lifetime.
 

E-bike manufacturers have witnessed a rapid surge in demand due to the outbreak of COVID-19 virus on account of the shift in consumer focus toward personal mobility from public transport in 2020. Insecurities related to the spread of the virus through public transport led to the upsurge in e-bikes market statistics.
 

Increasing demand for city/urban e-bikes to beat the traffic

The North America city/urban bike segment is poised to register growth rate of around 15% through 2027. The availability of city-urban e-bikes in various designs and body types is creating a positive market demand. City-urban electric bikes’ design to provide upright riding position, comfort to the rider, and low center gravity design for easy handling will propel the industry demand.
 

Market players are unveiling their new bikes in the city/urban e-bike segment to attract potential users and for their share enhancement. The manufacturers including Cake and Lyft are introducing their new city electric bikes to acquire higher profitability in the market. For instance, in September 2021, Cake company launched a new electric moped, Makka bike for USD 3,500 in North America and Europe markets. The bike weighs 132 pounds and is certified with EU-regulated L1e-b classification.
 

Development of new lightweight lithium-ion batteries with long range support

In 2020, lithium-ion batteries segment held more than 90% of the Europe e-bikes market share. Lithium-ion batteries are showcasing a growing demand impelled by their lightweight as compared to lead-acid batteries and high temperature tolerance. Automotive battery and vehicle manufacturing companies are investing in R&D to develop new lithium-ion batteries with longer range.
 

OEMs focus on integrating hub motors owing to their low maintenance in electric bikes

The Asia Pacific hub motor segment valued at over USD 14 billion in 2020. The quieter operation and less vibration offered by hub motors are encouraging various OEMs to use them in their bikes. Industry leaders, such as FAZUA GmbH, EGO Movement, and Honda Motor Company Ltd., are adopting various business strategies, such as acquisition and collaboration, to obtain higher profit in the e-bikes market.
 

Shifting consumer focus toward peddle-assist electric bikes

Europe E-Bikes Market Share By Propulsion Type

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The Europe peddle-assist segment captured about 55% of the electric bike market share in 2020. Industry participants are developing new peddle-assist systems for electric bikes to enhance their operation efficiency. For instance, in September 2021, Schaeffler AG unveiled a new peddle-assist chainless electric drive system, Schaeffler Free Drive. This system does not require any chain linked to the wheel for rotation, as it coverts a rider’s pedaling power into electric energy through a small generator mounted in the free drive system.
 

COVID-19 pandemic boosted the sale of electric bikes through online sales channel

The online sales channel segment in North America e-bikes market is expected to expand at a CAGR of above 15% till 2027 led by the shutdown of offline stores due to COVID-19 pandemic. Governments are taking several initiatives to promote the electric vehicle sale through online sales channels to accelerate the adoption of eco-friendly vehicles.
 

Proliferation of e-bike startups in Asia Pacific

Asia Pacific E-Bikes Market Size By Region

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The Asia Pacific e-bikes market size valued at USD 15 billion in 2020, with about 40 million units of new e-bikes sold. Growing number of startups, such as Yulu, Ola, Hello Inc., and EMotorad, and their frequent new product launches will enhance the industry statistics.
 

Manufacturers are partnering with other OEMs to improve the quality of their e-bikes

The companies are emphasizing on acquisitions and partnerships to strengthen their service offerings and enhance their market representation. Market leaders, such as Yamaha Motors Co., Ltd., Lectric eBikes, and Alta Cycling Group, are establishing strategic partnerships for new technology innovations in electric drive system of bikes.
 

Key E-bikes market players include Alta Cycling Group, Aventon, Electric Bike Technologies, Inc., Giant Manufacturing Co., Ltd., Lectric eBikes, Nakto EBikes, Pedego, Inc., Schwin (Pacific Cycles, Inc.), Trek Bicycles, and Van Moof.
 

This electric bike market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2017 to 2027 for the following segments:

Market, By Product

  • Cargo bike
  • Trekking bike
  • City/Urban bike

Market, By Battery

  • SLA
  • Lithium-Ion
  • NiMH

Market, By Motor

  • Hub motor
  • Mid motor

Market, By Propulsion type

  • Peddle-assist
  • Throttle-assist

Market, By Sales channel

  • Online
  • Offline

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Netherlands
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market size of electric bikes surpassed USD 25 billion in 2020 and will depict a CAGR of more than 6% from 2021 to 2027 with rising demand for eco-friendly mobility solutions.

North America market from city/urban e-bike will grow at around 15% CAGR up to 2027 owing to availability of various designs for easy handling and comfort to the rider.

Lithium-ion batteries contributed more than 90% of the Europe e-bikes share in 2020 and will grow with the demand for lightweight batteries.

Alta Cycling Group, Yamaha Motors Co., Ltd., Lectric eBikes, Schwin (Pacific Cycles, Inc.) and Electric Bike Technologies, Inc., among others, are some of the key players boosting global market.

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Premium Report Details

  • Published Date: Nov 2021
  • Companies covered: 15
  • Tables & Figures: 541
  • Countries covered: 17
  • Pages: 250

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