Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
An electric bike charging station, also called charging point or electric recharging point supplies electric energy to charge electric bike and electric scooters/ motorcycles. Moreover, the charging station sites can be residential, non-residential, or commercial.
Increasing population is leading to depletion of the ozone layer, which has compelled various countries to take measures to minimize the greenhouse effect by adopting alternative sources of energy: one such step is the introduction of electric bikes and electric vehicles. Furthermore, government-owned companies are entering into partnerships to develop and install electric bike charging station. For instance, in March 2020, National Thermal Power Corporation Limited, an Indian government-owned electric utility company and Rajasthan Electronics & Instruments Ltd. (REIL), an India-based miniratna company, signed an agreement with Government of Andhra Pradesh, India to established 110 electric vehicle charging stations at an approximate cost of US$ 4.29 million.
Furthermore, increasing deployment of e-bike charging stations at tourist and public areas is expected to boost the market growth. For instance, in October 2019, Robert Bosch GmbH, installed electric bike charging stations at touring hotspots across Europe.
However, lack of charging infrastructure is one the major challenge for the global e-bike charging station market growth. According to CMI analysis, India requires a widespread charging infrastructure to meet the growing adoption of e-bike (electric bike). In addition to more charging stations, the lack of space is also a challenge for the global e-bike charging station market. Therefore, these factors are expected to challenge the growth of the global e-bike charging station market.
The global E-bike charging station market accounted for US$ 2,715.23 Mn in terms of value in 2021 and is expected to grow at a CAGR of 3.7% for the period 2021-2028.
Global E-bike Charging Station Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 is expected to negatively influence the global e-bike charging station market growth. Initially, in the pandemic few companies witnessed decreased sales of conventional bicycles and e-bikes as the global supply chain was disrupted by lockdown orders and bike stores were forced to close. However, after lockdown, sales are booming globally, with several buyers opting for electric bikes for the first time. For instance, the U.S.-based bike retailer, Lectric eBikes, reported a 140% increase in sales between March 2020 and May 2020. Additionally, Aventon Bikes, based in Ontario, California, claims to be flooded with orders, with sales up in Massachusetts (+298%), California (+85%), and New York (+164 %). Thus, the demand for e-bike charging station is estimated to increase during the forecast period (2021-2028).
Asia Pacific held dominant position in the global e-bike charging station market in 2019, accounting for 41.7% share in terms of value, followed by Europe and North America.
E-bike Charging Station Market Report Coverage
||Market Size in 2020:
||US$ 2,692.67 Mn
|Historical Data for:
||2017 to 2019
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 3,498.13 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
- By Vehicle Type: Electric Scooters/ Motorcycles, E-bike
Amezeus (HFS Group), Ather Energy, Bikeep, CYCLE WORKS, EV Motors India Pvt. Ltd, Robert Bosch GmbH, RTL, Spelsberg, SWIFTMILE, and Zoov
- Increased awareness to reduced emissions
- Increase in government support to develop new charging stations
|Restraints & Challenges:
- Lack of charging infrastructure
Figure 1: Global E-bike Charging Station Market Share (%), By Region, 2019
Among regions, Asia Pacific held dominant position in the global e-bike charging station market in 2019, and is estimated to retain its dominance throughout the forecast period, owing to the high demand for energy-efficient and emission-free electric two-wheelers making charging infrastructure as a necessity for increasing two wheeler vehicle sales in the region. For instance, in April 2021, Ola Electric, a subsidiary of Ola Mobility set up 100 thousand charging stations across 400 cities. The company is also setting up a hyper charging network that will allow individuals to charge their Ola scooters across any location which will be five to10 minutes away. These hyper charging towers in high streets, high-density areas, and stations are in partnership with several fuel companies.
Major players operating in the global e-bike charging station market include Amezeus (HFS Group), Ather Energy, Bikeep, CYCLE WORKS, EV Motors India Pvt. Ltd, Robert Bosch GmbH, RTL, Spelsberg, SWIFTMILE, and Zoov.
Among vehicle type segment, e-bike segment held the highest market share in the year 2020 and is expected to retain its market share over the forecast period. The increase in sales of e-bike can boost the global e-bike charging station market. For instance, according to Coherent Market Insights analysis, in Europe 2,088,000 e-bike units sold in 2017 and 3,332,000 e-bike units sold in 2019 with a growth of 59.6%.
Figure 2: Global E-bike Charging Station Market Value (US$ Mn), 2017 - 2028
The global e-bike charging station market was valued at US$ 2,600.12 million in 2019 and is expected to reach 3,498.13 million by 2028, exhibiting a CAGR of 3.7% between 2021 and 2028.
Major companies operating in the global e-bike charging station market include Amezeus (HFS Group), Ather Energy, Bikeep, CYCLE WORKS, EV Motors India Pvt. Ltd, Robert Bosch GmbH, RTL, Spelsberg, SWIFTMILE, and Zoov.
- Major market players are focused on product launches, in order to expand their product portfolio. For instance, in October 2020, Swiftmile, the pioneer in micromobility charging, introduced its solar powered e-bike charging station. The company plans to equip charging stations in various developing cities in the U.S. and Europe. The plan was launched to provide an eco-friendly and socially distant option for short trips around the base, thereby reducing traffic in the area.
- Key companies are involved in partnerships, in order to gain a competitive edge in the market. For instance, in September 2020, EV Motors India Pvt. Ltd entered into partnership with India's largest electric scooter company, Hero Electric. As part of this partnership, EV Motors will offer advanced battery solutions and charging infrastructure integrated with Hero Electric vehicles.