The global Electric Bike market is projected to grow at a large scale in the next few years. The popularity of electric bike has been rising due to increasing urbanization and a growing number of vehicular traffic on streets. In addition, electric bikes are now being considered a feasible transportation option owing to their power capacity, long-distance range, and moderate speed.
Furthermore, other important factors which help in increasing the demand for electric bike are growing fuel prices and favorable government initiatives. Additionally, the trend present in the electric bike market is because of the pedal assists in bikes are enhancing the growth of the market and anticipated to remain influence positively on the development of the market. Further, it offers benefits such as help in the fitness goals due to pedaling. Many health-conscious people are adopting the paddles to their vehicles to maintain their health. Also, these people preferred electric bike as it helps in reducing harmful gasses like another vehicle that works on petrol or diesel. All these noteworthy factors are projected to contribute to the global Electric Bike market expansion in the coming years.
On the other hand, electric bikes are costly, and developing economies do not have a suitable environment for these bikes, these factors may hamper the growth of the Electric Bike market. Besides this, several players operating in the electric bike market are mainly focusing on the development and improvement of the battery pack to improve their running time and support to the vehicle. Hence this key fact is expected to create lucrative opportunities for the global Electric Bike market.
Covid-19 Impact on Electric Bike Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Electric Bike Market Segment Overview
According to Battery Type, Lithium-Ion batteries are estimated to hold the maximum share in the global Electric Bike market. This is due to the lithium-ion batteries' several benefits. lithium-ion batteries are eco-friendly, have a better life cycle, and generate more power to weight ratio than other battery types. The effort of electric bike manufacturers to produce lightweight e-bikes has also resulted in the larger adoption of lithium-ion batteries. In addition to this, electric bikes in China were equipped with lead-acid batteries, but owing to government guidelines announced in April 2019, the Chinese market has shifted towards lithium-ion batteries, resulting in a massive spike in demand for lithium-ion batteries in the Asia Pacific region from 2019.
Electric Bike Market, By Battery Type
· Lithium-Ion
· Lithium-Ion Polymer
· Lead Acid
· Others
Electric Bike Market, By Electric Bike Mode
· Pedal Assist Mode
· Throttle Mode
Electric Bike Market, By Conversion Kits
· Hub Motor Conversion Kit
· All In One Wheel Kit
· Mid Drive Conversion Kit
Electric Bike Regional Overview
Based on the region, Asia Pacific is projected to lead the Electric Bike market in the forecast period. In this region, China plays an important role by contributing mostly in terms of revenue. This is because China has launched many initiatives for green transportation and has strict regulations about emissions that drive the electric bike market. Similarly, the increasing demand for an electric bike in countries like Germany, France, Netherlands, and the UK. is projected to boost the market’s growth in Europe.
Electric Bike Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Electric Bike Market Competitor overview
Some key developments and strategies adopted by manufacturers in Electric Bike are highlighted below.
· In August 2021, Ola Electric launched its first electric scooter, Ola S1, at a price starting from Rs 99,999. The Ola S1 electric scooter would come in two trims -- S1 and S1 Pro -- carrying a price tag of Rs 99,999 and Rs 1,29,999, respectively. The company will officially open Ola S1 for purchase from September 8, and start deliveries across 1,000 cities and towns in October.
· In August 2021, Bharat Forge, the country’s top auto components manufacturer, is set to enter the electric two-wheeler space in alliance with Tork Motors, which is also 49 per cent owned by Bharat Forge. Pune-based EV manufacturer Tork Motors has now met the FAME II regulations, and it is likely that it would be for joint production of upcoming electric motorcycle models. Tork Motors’ T6X model should be eligible for government subsidies as well.
Electric Bike Market, Key Players
· Mahindra & Mahindra Ltd.
· Giant Manufacturing Co., Ltd
· BionX International Corporation.
· Prodecotech, LLC
· JIANGSU XINRI E-VEHICLE CO., LTD.
· Accell Group N.V.
· Pon.Bike
· Merida Industry Co., Ltd.
· Yamaha Motor Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Electric Bike Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Battery Type
- 5.2.1. Lithium-Ion
- 5.2.2. Lithium-Ion Polymer
- 5.2.3. Lead Acid
- 5.2.4. Others
- 5.3. Market Analysis, Insights and Forecast – By Electric Bike Mode
- 5.3.1. Pedal Assist Mode
- 5.3.2. Throttle Mode
- 5.4. Market Analysis, Insights and Forecast – By Conversion Kits
- 5.4.1. Hub Motor Conversion Kit
- 5.4.2. All In One Wheel Kit
- 5.4.3. Mid Drive Conversion Kit
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Electric Bike Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Battery Type
- 6.2.1. Lithium-Ion
- 6.2.2. Lithium-Ion Polymer
- 6.2.3. Lead Acid
- 6.2.4. Others
- 6.3. Market Analysis, Insights and Forecast – By Electric Bike Mode
- 6.3.1. Pedal Assist Mode
- 6.3.2. Throttle Mode
- 6.4. Market Analysis, Insights and Forecast – By Conversion Kits
- 6.4.1. Hub Motor Conversion Kit
- 6.4.2. All In One Wheel Kit
- 6.4.3. Mid Drive Conversion Kit
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Electric Bike Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Battery Type
- 7.2.1. Lithium-Ion
- 7.2.2. Lithium-Ion Polymer
- 7.2.3. Lead Acid
- 7.2.4. Others
- 7.3. Market Analysis, Insights and Forecast – By Electric Bike Mode
- 7.3.1. Pedal Assist Mode
- 7.3.2. Throttle Mode
- 7.4. Market Analysis, Insights and Forecast – By Conversion Kits
- 7.4.1. Hub Motor Conversion Kit
- 7.4.2. All In One Wheel Kit
- 7.4.3. Mid Drive Conversion Kit
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Electric Bike Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Battery Type
- 8.2.1. Lithium-Ion
- 8.2.2. Lithium-Ion Polymer
- 8.2.3. Lead Acid
- 8.2.4. Others
- 8.3. Market Analysis, Insights and Forecast – By Electric Bike Mode
- 8.3.1. Pedal Assist Mode
- 8.3.2. Throttle Mode
- 8.4. Market Analysis, Insights and Forecast – By Conversion Kits
- 8.4.1. Hub Motor Conversion Kit
- 8.4.2. All In One Wheel Kit
- 8.4.3. Mid Drive Conversion Kit
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Electric Bike Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Battery Type
- 9.2.1. Lithium-Ion
- 9.2.2. Lithium-Ion Polymer
- 9.2.3. Lead Acid
- 9.2.4. Others
- 9.3. Market Analysis, Insights and Forecast – By Electric Bike Mode
- 9.3.1. Pedal Assist Mode
- 9.3.2. Throttle Mode
- 9.4. Market Analysis, Insights and Forecast – By Conversion Kits
- 9.4.1. Hub Motor Conversion Kit
- 9.4.2. All In One Wheel Kit
- 9.4.3. Mid Drive Conversion Kit
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Mahindra & Mahindra Ltd.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Giant Manufacturing Co., Ltd
- 10.6. BionX International Corporation.
- 10.7. Prodecotech, LLC
- 10.8. JIANGSU XINRI E-VEHICLE CO., LTD.
- 10.9. Accell Group N.V.
- 10.10. Pon.Bike
- 10.11. Merida Industry Co., Ltd.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
