Global E-bike Market - Segmented by Propulsion Type, Usage, and Geography - Growth, Trends, and Forecast (2018 - 2023)
E-bike commonly known, as electric bicycle is a bike, which has an integrated electric motor aligned to the pedals of the bicycle, which supplies the differential force used for forward movement of the bicycle. The electric bikes majorly use Li-ion chargeable battery and they have a range of maximum 99.4 miles (160 km) in one single charge. These bicycles are available with battery type of either 8, 12 or 18-amp hour batteries
The global e-bike market is witnessing a high demand growth, especially from the European region, as the sales have registered a CAGR of more than 15%, in few countries during the last few years. Netherlands has been dominating the European market followed by Austria and Denmark. Portugal is expected to become a major production center in Europe, as the country is able to meet the demand for supply chain flexibility and increased speed to market.
Asia-Pacific Dominating Region in the Market
APAC is expected to remain the market leader during the forecast period too despite the ban on the use of e-bikes in major cities of China. There has been a decrease in the demand for e-bikes after the ban and the growth rate dropped down to less 5% from 2016 to 2017 and only 15 million e-bikes are expected to be sold in the country by the end of 2018. In 2017, the Japanese market for electric bikes was worth an estimated USD 103 million, with Panasonic Corp., Yamaha Motor Co. Ltd. and Bridgestone Corp., producing the bulk of the nearly 600,000 electric bikes sold last year. APAC is followed by Europe and North America in terms of market share.
Pedelec the Upcoming Future
With the advancements in the technology, the manufacturers are focusing towards enhancing the user interface, by designing and developing Pedelecs (is a bicycle where the rider's pedaling is assisted by a small electric motor), which can integrate with the rider’s smartphones and provide them real time information of their speed and battery status of the Pedelecs. These pedal assisted bikes are expensive in nature and their major cost stems from the motors and battery installed in them. As a result, the manufacturers are expected to focus on reducing the cost of the motors and batteries during the forecast period to achieve volume sale.
Consumer demographics and lifestyle preference towards recreational and adventure activities are expected to drive this market. Pedelec manufacturers are anticipated to focus on new product development to cater to upcoming new consumer segments during the forecast period.
The market study on global E-bikes is segmented into less Pedal Assist (Pedelecs and small e-bikes) and power on demand (includes speed e-bikes) based on type of propulsion, and City/Urban, Trekking, MTB, Cargo, and Speed E-ikes based on use. This study covers all the major countries of North America, Europe, and APAC.
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