In its latest research study on the global market for electric bikes, Persistence Market Research has emphasised a number of important
observations. This research study explores a number of facets of the
market for electric bikes, providing analytical insight and growth
projections to 2022. According to this in-depth research analysis, the
global market for electric bikes is expected to grow at a moderate rate,
with a CAGR of 4.7%.
Electric bikes are modern means of transportation which use electricity as fuel
to propagate. These vehicles come in different types, few of which use
both physical as well as electric power to gain momentum. Drivetrain,
electric motor and batteries are the main components in electric bikes.
The different types of electric bikes have different capacities. For longer
distances, typically electric moped or motorcycles are used, and for
shorter distances, generally, pedal assists are used.
Electric bikes have undergone new technological developments in the recent past.
High quality material and advanced batteries which have high power and
improved life, are few of the many advancements that this market has
witnessed. In metropolitan cities of Europe (typically in UK and
Germany) and North America (US and Canada) common charging
infrastructure for public has been developed.
The trend of rental services has taken shape, which is encouraging the use
of electric bikes in these regions. There has been significant
contribution by the governments of various regions such as in the
Asia-Pacific excluding (APEJ) region, to promote the use of electric
bikes on a large scale.
Several benefits of electric bikes, such as zero emission of harmful gases,
eco-friendliness, reduction in greenhouse effect, reduction in tailpipe
emissions etc., are supporting the consumption of electric bikes over
the globe thus aiding the growth of the global electric bikes market.
But certain aspects such as high initial price, less number of charging
stations and high costs associated with maintenance of charging stations
resulting in high charging prices are limiting the growth of the global
electric bikes market.
5 Key Highlights on Global Electric Bikes Market
- Asia-Pacific excluding Japan (APEJ) is a lucrative region and is expected to show
high market share by the end of 2022. It is anticipated to grow at
steady growth rate throughout the period of forecast. This region has
higher potential and several players are setting up manufacturing plants
in this region due to easy labor availability and low cost. Moreover,
this region has experienced high government support, with the Indian
electric bikes market receiving significantly favorable policies. China
and India have highly contributed to the growth of the electric bikes
market in the APEJ region - Lithium ion batteries remain the preferred choice for manufacturing electric
bikes. This segment is poised to register a CAGR around 5% throughout
the period of assessment. The main features favoring the use of lithium
ion batteries are their small size and high power delivery. On account
of these factors, electric bike manufacturers are likely to shun other
battery types in favor of lithium ion. - Nickel metal hydride batteries account for the largest revenue share in the
market. The status quo is likely to remain unchanged during the forecast
period. However, nickel metal hydrides will face stiff competition from
batteries that are durable and more effective, such as lithium ion. - In the product type category, the class1: pedal assist segment is expected
to lead the global market in terms of high market share. However, this
segment is poised to show slow growth rate as compared to speed pedelecs
segment in the coming years due to cleaner transportation and less
noise - HMCR remains the largest segment by conversion kits type; however, in the
recent past, friction drives have gained traction among end-users. While
HMCR will continue to lead in terms of high revenue share, friction
drive segment is projected to grow at an impressive CAGR
Global Electric Bikes Market: Competition Analysis
The global electric bikes market research report has profiled key players
in the market. Companies such as Robert Bosch GmbH, Accell Group N.V,
Giant Manufacturing Co., Ltd., Derby Cycle Holding GmbH, Jiangsu Xinri
E-Vehicle Co. Ltd., Panasonic Corp, Bionx International Corporation,
Mahindra & Mahindra Ltd., Samsung SDI Co., Ltd., and Prodeco
Technologies Llc are profiled in this market study.
Market SegmentationRegion
- North Americ
- Latin America
- Europe
- Japan
- APEJ
- MEAProduct Type
- Class 1: Pedal Assist
- Class 2: Throttle On Demand
- Class 3: Speed Pedelec
- Class 4: Moped or MotorcycleBattery Type
- Lithium iron phosphate (LiFePO4)
- Lithium Ion (Li Ion)
- Nickel Metal Hydride (NiMH)
- Lithium Polymer (LiPo)
- Lithium Titanate (Li2TiO3)
- OthersConversion Kits Type
- Hub Motor Conversion Kits
- Mid Drive Conversion Kits
- All-in-One Wheel Kits
- Friction Drive
