An e-bike or electronic bicycle is a standard bicycle, which is equipped with an electric motor, a battery, and a drivetrain. The bike can be moved through pedaling or can run on rechargeable batteries. They majorly use lead acid batteries and can cover long distances with a single charge. E-bikes are simple to operate, convenient for all age groups, and are an economical alternative as an environment-friendly means of transportation, in comparison to motored vehicles.
Peddle assist, throttle on demand, speed pedelec, and electric moped or motorcycle are the different categories of electric bikes. Electric bikes are now being considered as viable transportation option due to its power capacity, long distance range, and moderate speed. The popularity of electric bike is increasing due to rapid urbanization and rise in vehicular traffic.
Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market growth. On the contrary, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the market growth.
The global electric bikes market is segmented into product type, drive mechanism, battery type, and region. Depending on product type, the market is segregated into pedelecs, speed pedelecs, throttle on demand, and scooter & motorcycle. By drive mechanism, it is divided into hub motor, mid drive, and others. On the basis of battery type, it is fragmented into lead-acid, lithium-ion (Li-ion), and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd. Trek Bicycle Corporation, and Yamaha Motor Co., Ltd. are some of the leading key players operating in the electric bike market.
COVID-19 SCENARIO ANALYSIS
– Due to the COVID-19 pandemic, commuters are mostly preventing public transportation and adopting e-bikes as a safe, convenient, and affordable alternative to public transportation.
– The COVID-19 pandemic has changed the way people commute, and bicycling has become even more popular around the world. As a major bicycle manufacturer and with the largest market for e-bikes, China has witnessed a growing demand in this field.
– Owing to the government restrictions on public transport due to social-distancing guidelines, commuters are adopting the e-bike as the mode of day-to-day transportation.
– Industry participants see short-term disruption in electric bike development and its services during outbreak, owing to the travel ban for vehicles including cars and bus, which may create new opportunities for adoption of electric bikes.
KEY BENEFITS FOR STAKEHOLDERS
– This study presents analytical depiction of the global electric bike market analysis along with current trends and future estimations to depict imminent investment pockets.
– The overall electric bike market opportunity is determined by understanding profitable trends to gain a stronger foothold.
– The report presents information related to the key drivers, restraints, and opportunities of the global electric bike market with a detailed impact analysis.
– The current electric bike market is quantitatively analyzed from 2019 to 2030 to benchmark the financial competency.
– Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
KEY MARKET SEGMENTS
o Speed Pedelecs
o Throttle on Demand
o Scooter or motorcycle
By Drive Mechanism
o Hub Motor
By Battery Type
o Lead Acid
o Lithium ion (Li-ion)
o North America
Rest of Europe
Rest of Asia-Pacific
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o Accell Group
o Derby Cycle
o Fuji-ta Bicycle Co., Ltd.
o Giant Manufacturing Co., Ltd.
o Jiangsu Xinri E-Vehicle Co., Ltd.
o Mahindra & Mahindra Ltd. (GenZe)
o Prodecotech, LLC
o Tianjin Golden Wheel Group Co., Ltd.
o Trek Bicycle Corporation
o Yamaha Motor Co. Ltd.