E-Bike Market Growth Strategies & Future Analysis with Top Players Haibike, Aventon Bikes, Giant Bicycles, Merida Industry Co., Ltd

The e-bike market accounted to US$ 35,862.5 Mn in 2018 and is expected to grow at a CAGR of 23.6% during the forecast period 2019 – 2027, to account to US$ 224,014.2 Mn by 2027.

E-Bikes are bicycles that have rechargeable batteries and an electric motor to provide assistance to the power delivered by the rider. E-bike are also referred as pedelecs (pedaled electric cycle) and EPAC (electric power-assisted cycles). To retain the properties of a bicycle, an e-bike must preserve the ability to be pedalled by the rider; this differentiates e-bikes from electric motorcycles and scooters. A generic E-bike can move up to 25 to 32 km/h (16 to 20 mph), subjected to the laws of the country in which they are sold. The E-bike is comparatively popular in developed regions, including North America and Europe; however, their demand in developing countries of regions such as APAC, is growing at a remarkable rate. The government bodies globally is focusing on introducing various initiative associated with GHG emission as well as for the adoption of battery electric vehicles. All these factors and trends are anticipated to fuel the demand for e-bike in various geographies and offer future growth opportunities for market players operating in the global E-bike market.

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The major players operating in the market for e-bike market include Haibike, Aventon Bikes, Giant Bicycles, Merida Industry Co., Ltd., Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components, Inc., Shimano Inc., Trek Bicycle Corporation, and Yamaha Motor Co., Ltd. among others.

The global E-bike market is anticipated to witness impressive growth during the forecast period, owing to the adoption of class II e-bike across the world. During the forecast period of 2019 to 2027, class II type is expected to drive the demand for e-bike worldwide. The class II bikes might be ideal for single-track mountain bike trails, however, on the contrary they can cause physical damage to trails owing to throttle-actuation. Therefore, the class II e-bikes are the best suited for multiuse off-highway vehicles (OHV) trails developed for rugged off-road vehicles. Some states of the US such as Illinois ask for the registration of eBikes whereas, Arizona, Connecticut, Kentucky, Ohio, and Tennessee among others consider e-bikes as normal bicycles. The growing government support for the implementation of electric vehicle is projected to offer ample growth opportunities for the players operating in the e-bike market during the forecast period of 2019 to 2027.

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Significant market initiatives have been taken by some of the leading companies in e-bike market by getting involved in partnering with the clients, winning significant contracts, and also expanding their production capabilities. For instance, in 2019, Shimano has opened an experience-based facility that focuses on fishing, cycling, and rowing. It also aims to target areas where the company’s advanced technologies can be touched physically and thus has opened within a “PAR’ COURSE” commercial facility. In the same year, Giant Bicycles has introduced a new Road E+ Pro. It is a versatile drop-bar E-bike designed by using a composite fork and responsive ALUXX SL aluminum frame. The new bike e-bike enables the rider to go for longer distances in a single charge. These strategic initiatives are further expected to provide a significant opportunities for e-bike market growth in the coming years.

In developing economies, the installation of EV charging stations and road/pathway infrastructure is yet to flourish. As per Honda (a Japan-based automotive manufacturer), the establishment of supporting infrastructure for e-bikes, which includes battery swapping and charging stations and the subsequent adoption of the advanced technology, across India will take time. Consequently, the underdeveloped charging and cycling infrastructure across various developing countries is hampering the adoption rate of e-bikes may hinder the growth of the e-bike market. 

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FAQ

• Which battery type is most commonly used in E-bike?
The adoption of lithium-ion (Li-ion) batteries is high in automotive and consumer electronics industries. Higher energy efficiency and extended battery life are among the major advantages these batteries that contribute to such wider adoptions. Along with auto-manufacturers, e-bike manufacturers are more inclined toward transforming the scenario of automotive mobility into a sustainable mode of transportation, to reduce its impact on the environment. Therefore, lithium-ion battery is compared on the basis of few parameters, such as safety, lifespan, performance, specific energy, specific power, and cost.

• What are market opportunities for logistics automation market?
The smart mobility evolution is taking place rapidly across the world with the adoption of mobility-as-a-service (MaaS), big data, and smart cities initiatives. The continuous growth in private fleet-based bicycle systems and the development in the traditional public bicycle share (PBS) schemes are increasing the e-bicycle share; thus, boosting the demand for bike-sharing services globally. The increasing demand for bike-sharing services is propelling the growth of the e-bike market across the world. Thus, bike-sharing services are expected to create huge opportunities for the growth of the e-bike market during the forecast period.

• Which continent has highest demand for e-bike?
APAC contributed largest market share in the E-bike market. Vehicular emissions are the most significant contributors to the pollution caused in the region. The major focus of manufacturer towards the development of battery technology, growing bicycle infrastructure, and shifting consumer purchasing behavior are expected to create huge opportunities for the growth of the E-bike Market in the region during the forecast period.

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Posted by on Thursday April 02 2020, 5:00 AM EDT. All trademarks acknowledged. Filed under Consumer & Retail, Manufacturing. Comments and Trackbacks closed. Follow responses: RSS 2.0

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