About Electric Bicycle
Electric bicycles or E-bikes that are fitted with motor drive systems, a battery and a controller, are an ideal option to drive in hilly areas, rough roads, and overpasses as it is easy to manage speed more effectively. Battery and motor in an electric bicycle act as the pumping heart of the bicycle. These parts are the fundamentals of all electric bicycles on the market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 4.7% |
Electric Bicycle is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Electric Bicycle market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Benelli (Italy), Aima (United States), Gocycle (United Kingdom), Haibike (Germany), Moustache Bikes (France), Rotwild (DE) (Germany), Beistegui Hermanos (Spain), Fully Charged (United Kingdom), Sparta (Netherlands), VéloSoleX (Canada) and Stromer (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are BH BIKES (Spain), Italjet (Italy), Kettler (Germany) and Pedego Electric Bikes (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electric Bicycle market by Type (Pedal Assist/ Pedelecs, Power on Demand and Pedal Assist with Power on Demand) and Region.
On the basis of geography, the market of Electric Bicycle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Speed, the sub-segment i.e. Up to 25 KMPH will boost the Electric Bicycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Use, the sub-segment i.e. City/Urban will boost the Electric Bicycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Motor Type, the sub-segment i.e. Hub Motor will boost the Electric Bicycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Type, the sub-segment i.e. Lithium-Ion will boost the Electric Bicycle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Urban and suburban residents seek faster, greener modes of transportation and Integration of e-bikes with smartphones
Market Growth Drivers:
Rising consumer inclination towards environment-friendly electric bikes, Increasing fuel costs, Growing interest in cycling as a fitness and recreational activity and Rise in global warming
Challenges:
Lack of proper charging infrastructure and High maintenance cost
Restraints:
High cost of e-bikes
Opportunities:
Top players are focusing towards enhancing the user interface pedelecs, Favorable government initiatives and strict rules in favor of electric bikes in developing countries and Huge investments in R&D activities to improve battery performance and improve bicycling infrastructure
Market Leaders and their expansionary development strategies
In January 2022, In a bid to globalize the TVS group and participate in the USD 25 billion global e-bike market, TVS Motor Company acquired a 75% stake in the Swiss E-Mobility Group (SEMG).
In March 2023, MYBYK, an Ahmedabad-based active mobility service provider, launched two electric bicycle models. MYBYK Electric a consumer bike for connecting citizens and tourists and MYBYK Electric Cargo a bike for gig workers.
Various government initiatives such as FAME-India scheme in India, electric bike grant scheme in states of Jersey, and grants offered for EVs purchase by Office for Low Emissions in UK are the government initiatives which were focused on promotion of e-bike.
Key Target Audience
Electric Bicycle Manufacturers, Raw Material Suppliers, Technology Providers, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.