Electric Bikes Market by Product Type (Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid Drive, and Others), Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2025
The global electric bikes market size was valued at $16.34 billion in 2017, and is expected to reach $23.83 billion by 2025, registering a CAGR of 4.9% from 2018 to 2025.
Electric bikes are bicycles with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Various kinds of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes that produce power to completely drive the bike using throttle.
Electric bikes are a flexible, versatile, eco-friendly, and trendy mode of transport. Consumers look up to them as an ideal substitute for scooters, smart cars, and public transport. Consumers are benefited because they better tackle traffic congestion owing to the smaller size of e-bikes, attain higher speeds with lesser effort, and gain from the advantages of peddling. These factors have led to growing popularity of electric bikes across the globe.
Leveraging the throttle on demand drive mode, users reach the destination effortlessly. Electric scooters and motorcycles have been competing with conventional scooters and motorcycles running on fossil fuels. The advantages offered by electric scooters and motorcycles are lower operating costs and eco-friendly nature.
The different types of drive mechanisms of e-bikes are hub motor, mid drive, and others. The hub motor is the most common drive mechanism in which either of the wheel is replaced with one having a hub motor connected by a wire to a battery or motor controller. Majority of e-bike companies use batteries, such as Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and others. The lead acid battery is the leading type used in electric bikes, owing to its low cost and ease of recycling. However, popularity of Li-ion batteries has been growing at the highest rate because of their higher capacity with lesser size and weight.
The global electric bikes market growth is driven by government support and stern rules in favor of electric bikes coupled with growing consumer inclination toward use of e-bikes as an eco-friendly and efficient solution for commute and increasing fuel costs. Moreover, rising interest in cycling as a fitness and recreational activity further augments the growth of the market. However, high costs of e-bikes and ban on use of e-bikes in major cities in China are anticipated to restrict the market growth.
The global electric bikes industry is segmented on the basis of product type, drive mechanism, battery type, and region. On the basis of product type, the market is segmented into pedelecs, throttle on demand, and scooter & motorcycle. By drive mechanism, the market is segmented into hub motor, mid drive, and others. Battery-wise, the market is classified into Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global electric bikes market focus on key market strategies, such as mergers, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the market include Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co., Ltd, Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle Co., Ltd.
Other key players operating in the market include Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, Prodecotech, LLC, and Tianjin Golden Wheel Group Co., Ltd.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the market, with current trends and future estimations to elucidate the investment pockets.
A comprehensive analysis of factors that drive and restrict the growth of the market is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
An extensive analysis of different segments facilitates to understand various products of the market.
The key players are profiled, and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
KEY MARKET SEGMENTS
By product type
Throttle on demand
Scooter & motorcycle
By drive mechanism
By battery type
Nickel-metal hydride (NiMH)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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