Rising Demand for Green, and Cleaner Transportation Modes to Fuel Growth of E-Bikes Market
People use electric bicycles for different reasons, the biggest ones of which are related to speed, fitness, money, and the environment. E-bikes are essentially regular looking bicycles that have a battery and motor built in. Although heavier than a traditional bicycle, e-bikes are easier to get around on, as the motor helps power the rider along. The number of e-bikes is rising worldwide and continues to grow. The electric bicycle market has never stopped growing, ever since e-bikes first gained popularity in the 1990s and early 2000s. The global electric bicycle market is expected to skyrocket in the following decade, achieving massive growth in Europe, Asia, and North America. Global carbon emissions from fuel burning have been a major source of worry for governments and environmentalists in recent decades. As a result, proliferating demand for electric vehicles around the world is also likely to support the growth of e-bikes market in the near future.
While electric bikes, and scooters are claimed to be more expensive to buy than ordinary two-wheelers, the money saved on growing gasoline expenses is encouraging various businesses in logistics, food, delivery, tourist, and other sectors. As a result, the corporations are investing in buying these electric two-wheelers and creating strategic relationships with these vehicle manufacturers in order to obtain a significant competitive advantage over other market competitors. For instance, several tourism organisations specialise in providing 'Cycling Holidays' packages. As Europe has so many tourist locations, millions of people visit the country every year throughout the holiday season. Tourists are being wooed by this new and unusual experience, and are choosing e-bikes to explore famous sights and, in some cases, the countryside. Additionally, the worldwide e-bikes market is expected to reach over $25 billion by 2020. Between 2021 and 2028, it is expected to increase at a compound annual growth rate of just under 10%, reaching just under 48.5 billion USD. The various governments around the world are encouraging safer and cleaner modes of transportation in order to build a better and greener environment. Many governments have responded by creating legislation that encourages and compensates e-bike riders who ride frequently, which is expected to favour e-bikes market worldwide.
Low Cost Account for an Ideal Candidature of Lead Acid Batteries in E-bikes Market
The lead acid segment held the largest value share in e-bikes market in 2021. Lead acid batteries are inexpensive and easy to recycle, which is why they're common in e-bikes. Despite being cheaper in the short-term, lithium-ion batteries are now becoming the preferred choice for batteries because they offer better durability, range, and efficiency. Lead acid batteries are often criticized for their negative environmental impact and alleged lack of durability compared to lithium-ion batteries. The battery segment is expected to experience a higher growth rate over the next few years. The lithium-ion battery's superior battery chemistry, power-to-weight ratio, charging efficiency, energy density, and battery lifecycle are all factors contributing to its superiority.
Government Policies, and High Public Transit Congestion to Drive Growth of Asia Pacific E-bikes Market
Asia Pacific is predicted to steer the e-bikes marketplace throughout the forecast period because of the excessive income of e-motorcycles withinside the place. Key e-bike producers in this place encompass Yadea Group Holdings Ltd., AIMA Technology Group Co., Ltd., and Merida Industry Co., Ltd. Class-I e-motorcycles account for the biggest marketplace in the Asia Pacific, as government policies allow the simplest Class-I e-motorcycles, besides for India wherein the marketplace for Class-II e-motorcycles exists because of loss of strict policies. Some factors that contribute to the popularity of bicycles in developed and developing countries include the extensive bicycle infrastructure in these places, high vehicular and public transit congestion, and increasing emissions regulations for gasoline motorcycles.
Germany, France, and Italy dominate the European e-bikes market. The revolutionary nature of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials are some of the primary drivers driving e-bike sales. Germany dominated the European market in 2021, accounting for over 40% of the market. The Netherlands and France came in second and third, respectively, with more than 11 percent of the overall market share. Since 2018, the European Commission's anti-dumping and anti-subsidy measures on Chinese e-bikes have aided the market's growth tremendously. In recent years, Germany's e-bike and bicycle sectors have enjoyed tremendous growth, with volume and revenue growth reaching new highs in 2020. Germany, France, and Italy dominate the European e-bikes market. The revolutionary nature of the product, fully integrated batteries and drives, appealing designs, and the use of high-quality materials are some of the primary drivers driving e-bike sales.
Since 2018, the European Commission's anti-dumping and anti-subsidy measures on Chinese e-bikes have aided the market's growth tremendously. In recent years, Germany's e-bike and bicycle sectors have enjoyed tremendous growth, with volume and revenue growth reaching new highs in 2020. According to market estimates from the German industry group Zweirad-Industrie-Verband (ZIV2020), e-bike sales will climb by 43% to 2 million units in 2020. However, due to a variety of causes, the market fell marginally in 2021. COVID-19 is the backdrop to this, with multiple factories closing and output delays expected to last until 2020. In the year 2021, the industry sold approximately 2 million e-bikes. This translates to a 2.6 percent decrease.
Global E-Bikes Market: Competitive Landscape
In 2020, The new Shimano EP8 mid-drive motor unit carries even more torque than Shimano's previous drive units, up to 85 Nm, according to Shimano. On the other hand, in January 2022, Giant Bicycles announced a new partnership with Team BikeExchange-Jayco, which will allow the world's most popular cycling brand to return to professional road racing at UCI World Tour level. Moreover, in July 2021, Pedego has launched a new location in Bethesda, Maryland, that sells, rents, services, and accessories for electric bikes.
A few of the players in the E-Bikes Market include Accell Group N.V. (Netherlands), Yamaha Motor Corporation (Japan), Pon.Bike (US), Giant Manufacturing Co. Ltd. (Taiwan), and Merida Industry Co. Ltd. (Taiwan).
Global E-Bikes Market is Segmented as Below:
By Class
By Speed
By Battery Type
By Motor Type
By Mode
By Components
By Usage
By Ownership
By Region
Key Elements Included In The Study: Global E-bikes Market
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