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Pulished Date October, 2021
ID: 12307
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Electric Bicycle Market Segmentation by Propulsion (Pedelecs and Throttle); By Battery (Lead-acid, Lithium-ion, Nickel-metal hydride, and Other) - Demand Analysis & Opportunity Outlook 2026

Pulished: October, 2021
ID: 12307
Pages: 175

Electric Bicycle Market Size, Trends & Growth (2021 - 2026)

A bicycle with an integrated electric motor drive mechanism and battery that produces power for causing or assisting propulsion is known as an electric bike. Electric bikes with a tiny motor are available globally to help riders pedal force more powerful e-bikes that create enough power to operate the motorcycle using the throttle.

E-bikes are less expensive than cars, do not require a driver's license, and can be utilized on existing bike paths. Rapid urbanization and decreased customer desire for driving due to increased traffic congestion are expected to provide lucrative market expansion prospects.

According to the National Health Service (NHS), exercise-based rehabilitation programs can lower death risks by 25%. The use of these bikes reduces cardiac exertion for patients with current coronary problems. In addition, patients who cannot exercise due to obesity can utilize these bicycles, which allow them to take short rests from pedaling.

Recent Developments

Corrit Electric, an electric mobility startup, is preparing to unveil its first electric bike in November 2021 and India's first indigenous fat tire e-bike at the end of this month. The electric bike, known as the Hover scooter, will debut in Delhi first, followed by Mumbai, Bengaluru, and Pune in the first phase.

In September 2021, Italian design firm ARES presented the ARES Super Leggera electric bicycle, which it says is the world's lightest electric bicycle. The 9 kg (19.8 lb) electric road bike was developed between ARES, a design business, and HPS, an advanced engineering firm developing mobility technology. The Super Leggera e-bike is powered by a 200-watt motor that provides users with a small amount of electrical assistance.

Raliegh, a British e-bike business, has renewed its distribution license for its DACH model in Germany with Accell Group, a Dutch e-bike juggernaut.

Dorel Sports announced today that it would sell its bicycle division to Pon Holdings for $810 million in October 2021. Pon Holdings already owns Santa Cruz, Focus, and Cervelo, but with the acquisition of Dorel Sports, it will be able to acquire brands like Schwinn, Cannondale, and GT. Pon. The bike claims that the acquisition will enable it to produce annual revenue of €2.5 billion, which, if accurate, would make it the world's largest bicycle firm, surpassing Giant Bicycles, which announced a yearly income of $2.45 billion in 2020.  

Electric Bicycle Market Drivers

Global carbon emissions from fuel burning have been a significant source of worry for governments and environmentalists in recent decades. As a result, demand for electric vehicles increases around the world, supporting the market's expansion. Furthermore, the popularity of electric bikes has grown across every continent due to rising fuel costs on a global scale, increased pollution, and traffic congestion, particularly in urban areas. Furthermore, increasing fuel vehicle operating and maintenance prices lead to a shift in daily commute preference for electric bikes, which propels the E-bike market forward.

As people become more aware of the dangers of driving cars that operate on fossil fuels, governments worldwide are taking steps to minimize carbon emissions by encouraging the use of electric bikes, electric automobiles, and bicycles. Furthermore, governments are developing bicycle-friendly roadways, encouraging people to use bicycles as a primary form of transportation. Electric bicycles, scooters, and motorbikes have gotten a lot of attention from governments as reliable and efficient light motor vehicles (LMVs) help reduce carbon emissions. Furthermore, governments worldwide are encouraging the purchase of electric mobility through tax credits and incentives to stimulate the usage of these environmentally beneficial vehicles.

Restraints

The motor and battery are the two most essential components of an e-bike. The engine provides the force, and the energy is stored and supplied by the battery. One of the issues for bike makers is controlling the motor's speed and torque throughout a wide variety of speed and load circumstances. With a finite amount of stored energy in a battery, the battery's capacity must be utilized as efficiently as feasible. The battery's capacity would increase as the battery size was raised, but the weight of the e-bike would increase as well. As a result, battery makers must determine the appropriate battery capacity in terms of operation and range. In addition, smartphones and tablets have made consumers more technologically savvy. As a result, e-bike makers confront the issue of offering functionality and intelligence in e-bikes that are compatible with smartphones and tablets while using the least amount of power, either through a dedicated onboard device or by connecting the smartphone or tablet to the e-bike.

The high cost of e-bikes is one of the primary factors limiting the market's growth. E-bikes are more expensive than regular bicycles, scooters, or motorbikes due to the battery and technology costs. As a result, people consider traditional scooters or motorbikes superior in performance for the same or less money. Furthermore, the usage of lithium-ion batteries or motor driving mechanisms incurs the highest cost, limiting market expansion.

Electric Bicycle Market Segmentation

By Propulsion: 

  • Pedelecs
  • Throttle

The global market is divided into two categories: pedelecs and throttle. Because of its longer battery life, cheaper maintenance requirements, and the flexibility to choose from three to five pedal modes, the pedelec sector captured the most significant market proportion. However, during the forecast period, the throttle segment is expected to grow at a faster rate.

By Battery: 

  • Lead-acid
  • Lithium-ion
  • Nickel-metal hydride
  • Others

Lead-acid, lithium-ion, nickel-metal hydride, and other types of batteries make up the market. The lead-acid sector commanded the most market share. The dominance of this market is attributable to factors such as low cost and ease of recycling. During the projected period, the lithium-ion battery segment is expected to grow at a faster rate. This is owing to the superior battery chemistry, more excellent power-to-weight ratio, efficient charging, and longer battery life cycle of lithium-ion batteries.

Regional Analysis

With a market value of $8.72 billion in 2020, Asia Pacific dominated the market. The dominance of the market in this region is attributable to factors such as significant cycling infrastructure in developed and developing countries, high traffic and public transit congestion, and the rising stringency of pollution regulators for gasoline motorcycles.

The market in Europe is likely to increase significantly. E-bike producers and parts makers may be found in 23 of the EU's 27 member countries. Around 900 SMEs employ approximately 120,000 people directly and indirectly and invest more than one billion euros in R&D. 60 percent of e-bikes sold in the EU are made in the country, and sales are predicted to reach 13.5 million units by the end of the forecast period.

The market in North America is also predicted to rise rapidly. E-bike sales in the region are expected to grow from 28% in 2019 to 44% in 2020. In addition, several communities in the United States have lowered speed restrictions and built bike lanes to encourage the usage of electric bicycles.

Leading Company

The Accell Group is currently the e-bike juggernaut in the world, with a workforce of approx. Three thousand one hundred employees across 15 countries and sales stretching over 80 countries.

Key Players

Impact of COVID-19

Despite the COVID-19 pandemic, the e-bike sector is one of the few that is growing. During the shutdown period, the influence of COVID-19 on the e-bike market increased global e-bike sales. However, even after the lockdowns were lifted, some were still wary and preferred to avoid using public transportation or mobility sharing for commuting. During the epidemic, an e-bike is thought to be a simple, inexpensive, and safer mode of transportation.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Electric Bicycles Market, By Propulsion                 

                    6.1.1 Pedelecs        

                    6.1.2 Throttle         

                    6.1.3 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.4 Y-o-Y Growth Rate Analysis         

                    6.1.5 Market Attractiveness Index         

          6.2 Electric Bicycles Market, By Battery             

                    6.2.1 Lead-acid      

                    6.2.2 Lithium-ion   

                    6.2.3 Nickel-metal hydride          

                    6.2.4 Other  

                    6.2.5 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.6 Y-o-Y Growth Rate Analysis         

                    6.2.7 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Electric Bicycles Market, by Region            

          7.2 North America - Market Analysis (2021 - 2026)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Propulsion 

                    7.2.3 By Battery      

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Propulsion 

                    7.3.3 By Battery      

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Propulsion 

                    7.4.3 By Battery      

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Propulsion 

                    7.5.3 By Battery      

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Propulsion 

                    7.6.3 By Battery      

8. Key Player Analysis                           

          8.1 Derby Cycle                

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Fuji-ta Bicycle Co., Ltd.                   

          8.3 Giant Manufacturing Co., Ltd.         

          8.4 Jiangsu Xinri E-Vehicle Co., Ltd.                

          8.5 Mahindra & Mahindra Ltd. (GenZe)             

          8.6 Prodecotech, LLC                  

          8.7 Tianjin Golden Wheel Group Co., Ltd.                  

          8.8 Trek Bicycle Corporation                 

          8.9 Yamaha Motor Co. Ltd.         

          8.10 Energica Motor Company               

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Electric Bicycles Market By Region, From 2021-2026 ( USD Billion )
  2. Global Electric Bicycles Market By Propulsion, From 2021-2026 ( USD Billion )
  3. Global Pedelecs Market By Region, From 2021-2026 ( USD Billion )
  4. Global Throttle Market By Region, From 2021-2026 ( USD Billion )
  5. Global Electric Bicycles Market By Battery, From 2021-2026 ( USD Billion )
  6. Global Lead-acid Market By Region, From 2021-2026 ( USD Billion )
  7. Global Lithium-ion Market By Region, From 2021-2026 ( USD Billion )
  8. Global Nickel-metal hydride Market By Region, From 2021-2026 ( USD Billion )
  9. Global Other Market By Region, From 2021-2026 ( USD Billion )

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