E-bike is also referred as electronic bicycle, which is a type of standard bicycle equipped with a battery, electric motor, and drivetrain. The bike offers the facility to move on rechargeable battery or through pedaling. E-bikes are convenient and simple to use for all age groups. Moreover, these bikes are an economical alternative to motored vehicles as a single battery charge can cover a long distance.
The primary factor driving the market growth includes the rising popularity of cycling as a recreational activity across the globe. This is mainly due to significant advantages associated with cycling to physical and mental health. Some of the advantages include reduced stress and depression level, muscle strength and flexibility, and improved cardiac fitness. The young population is increasingly opting for adventure sports which is anticipated to boost the demand for e-bikes during the forecast period.
In response with rising popularity, the e-bike manufacturers are focused on product innovation coupled with technological advancements such as introduction of SIM module that enables the e-bike to transfer the data and information to and from the cloud without any connected smartphone. These connected e-bikes offer several advantageous features including remote diagnostics, anti-theft system, social media connection, integrated navigation, and automatic emergency cell. Robert Bosch is one of the major players in e-bike market, which offers connected bike solutions. For instance, SmartphoneHub developed by Bosch provides the facility to connect to a smartphone for supporting the riders before and after the journey. The lock premium function by Bosch offers greater security by converting the Kiox connected onboard computer into the key for greater security.
Global E-Bike Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 has significantly disrupted almost all the industries including automotive and others. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. This has significantly impacted the automotive sector as the facilities across the globe were temporarily shut down. In the first quarter of 2020, the sale of e-bikes were decreased drastically as the stores were closed. However, now the unlock process has started in most countries including France, India, China, Japan, Italy, and the U.S., the sales graph of e-bikes is recovering significantly. Post-2021, the global market is expected to return to normalcy with a moderate growth in the demand for e-bikes.
Europe is expected to hold dominant position in the global e-bike market during the forecast period.
Europe held dominant position in the global e-bike market in 2020, accounting for 32.0% share in terms of value, followed by North America and Asia Pacific.
E-Bike Market Report Coverage
||Market Size in 2020:
||US$ 18,223.4 Mn
|Historical Data for:
||2017 to 2019
||2021 to 2028
|Forecast Period 2021 to 2027 CAGR:
||2028 Value Projection:
||US$ 39,489.5 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 & Africa
- By Type: Mountain Bike, Road Bike, City Bike, Cargo Bike, Others
- By Battery Type: Lead Acid, Nickel-cadmium, Nickel-metal Hydride, Lithium-ion
- By Motor: Hub Motor, Mid Motor
- By Operation Mode: Battery/Peddle Operated, Throttle Operated
Accell Group, BionX, Bosch, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
- Advantages offered by e-bikes
- Rising concerns regarding air pollution and environmental degradation
|Restraints & Challenges:
Figure 1: Global E-Bike Market Share (%), By Region, 2020
The regional growth can be attributed to rising concerns towards environmental degradation and air pollution. This has increased the demand for e-bikes in most of the European countries including Netherland, Germany, and Belgium, as e-bikes can be charged through solar power and have low carbon emission.
Major players operating in the global e-bike market include Accell Group, BionX, Bosch, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.
By battery type, the lithium-ion sub-segment is expected to hold largest market share in 2020, owing to several benefits offered by these batteries. For instance, the lithium-ion batteries offer more power to weight ratio as compared with other batteries, are eco-friendly, and have better life cycle. Moreover, several government initiatives to promote the adoption of lithium-ion battery is anticipated to favor the segment growth. For instance, in 2019 due to government mandate, the Chinese manufactures had to shift from lead acid batteries to lithium ion batteries.
Figure 2: Global E-Bike Market Value (US$ Mn), 2017 – 2028
The global e-bike market was valued at US$ 18,223.4 Mn in 2020 and is expected to reach US$ 39,489.5 Mn by 2028, exhibiting a CAGR of 10.4% between 2021 and 2028.