As per the report published by Fior Markets, the global E-bike market is expected to grow from USD 17.12 Billion in 2017 to USD 27.26 Billion by 2025 at a CAGR of 6.0% during the forecast period from 2018-2025.Asia- Pacific is dominating the market due to the presence of developing nations such as China, Japan and India. China is the largest market for electric bicycle. Since 2015, the sales have grown massively in China. Outgrowing U.S., China is now the most attractive country for electric bicycles. China has strengthened its industry leadership by making profits across all scopes of the supply side of electric bicycles including current and projected production of electric bicycle and their components, such as electric motors and lithium-ion battery cells.
E-bike Market by Product (Pedelecs, Throttle on demand, Scooter & Motorcycle), Drive Mechanism, Battery Type, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leading companies in the industry include NYCeWheels, Accell Group, Derby Cycle, Easy Motion USA, Moustache Bikes, and Jiangsu Xinri E-Vehicle Co., Ltd., BH BIKES, FRITZMEIER, Klever Mobility, Leader 96, myStromer AG, Karbon Kinetics Limited (KKL), Pedego Electric Bikes, and A2B Electric Bikes which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in April 2018, Uber has reached a deal to acquire Jump, electric bike startup which operates dock less bike sharing services.
The product segment is classified pedelecs, throttle on demand, scooter & motorcycle. The pedelecs segment is dominating the market and valued around USD 8.44 Billion in 2017. Pedelecs is a bicycle where the rider pedaling is assisted by a small electric motor. The market is chiefly dominated by pedelecs owing to its high adoption for commute globally. This segment comprises pedelec and speeds pedelec e-bikes based on their power assistance and speed difference. Drive mechanism segment is divided into segments such as hub motor, mid drive, and others. The hub motor segment is dominating the market with the highest share of 48.90% in 2017. 32”-65” The hub motor is the most-widely used drive mechanism in which either of the wheels is replaced with one having a hub motor connected by a wire to a battery or motor controller. Battery type segment includes lead acid, lithium ion, Nickel-metal hydride (NiMH) and others. The lead-acid segment is dominating the E-bike market and valued around USD 6.86 Billion in 2017 owing to its low cost and ease of recycling.
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Increasing consumer preference towards e-bikes as an eco-friendly and efficient solution to commuting and increasing fuel costs are some of the driving force. Also, rising fuel cost also has influenced the consumer’s decision and favorable government policies to support electric bikes are also fuelling the growth of the market. But high cost associated with e-bikes which may hinder the growth of the market. However, the rise in investments in R&D activities to improve battery performance and improve bicycling infrastructure is expected to pose lucrative opportunities in the upcoming years.
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