E-bike, also referred to as, electric bikes, is a bike that has an integrated electric motor aligned to the pedals of the bike, which supplies differential force that used for forward movement of the bicycle to gain momentum. The integrated electric motors in electric bicycles (or e-bikes) can be used for propulsion. E-bikes use rechargeable batteries, which can travel up to 25 to 32 km/h, depending on a country’s government regulation. E-bike makes use of chargeable batteries, which have different capacities that depend upon their size. The electric bikes majorly uses Li-ion chargeable batteries, which have a range of maximum 99.4 miles (160 km) in a single charge. These E-bikes are available with battery type of either 8, 12, or 18-amp hour batteries. Electric bikes are classified on the basis of the power of electric motor such as, peddle assist, speed pedelec throttle on demand and electric moped are the different categories of electric bikes.

Increasing Government Initiatives towards Adoption of E-bikes and Rapid Urbanization are the Factors Driving Growth for the Global E-bike Market

The global E-bike market has been witnessing high opportunities, owing to the government initiatives and strict norms in favor of electric bikes. For instance, in May 2017, Government of Andhra Pradesh, Greater Visakhapatnam Municipal Corporation (GVMC), announced launch of India's first state-run mass electric two-wheeler mobility system. Furthermore, growing consumer inclination towards use of e-bikes as an efficient and eco-friendly solution to commute and rising costs of fuel is driving growth of the global E-bike market during forecast period. Moreover, growing interest in cycling as a fitness has driven a major shift in fitness-conscious customers, as riding an E-bike helps to travel longer distances with a same amount of peddling. Furthermore, cycling is a healthy as well as low-impact activity having many mental and physical health benefits such as alleviating stress, enhancing muscle strength, and building endurance.

Furthermore, an increasing urbanization is one of the key drivers for the global E-bike market. Urban population throughout the world is increasing at higher pace. According to the United Nations Reports 2018, 68% of the global population would reside in urban areas by year of 2050. Hyper-urbanization in some countries is hindering the city traffic by increasing traffic congestion, parking issues, high travel cost and delays in vehicle movement during traffic jams. Hence, the use of e-bikes can reduce the number of vehicles on the road and result in fewer traffic jams.

However, the unplanned Infrastructure in emerging economies and high cost of e-bikes are the factors restraining the market growth. According to Coherent Market insights, in the Netherlands, a quarter of all Europeans were found to be willing to commute by E-bikes. However, speed pedelecs witnessed a decline in sales from 4,561 units in 2017 to 2,735 units in 2018, owing to the infrastructural issue, as they have to share roadways with cars.

Global E-bike Market: Regional Insights

The Asia Pacific region is estimated to be the largest electric bike market, as this region comprises some of the fastest emerging economies of the world such as India and China. The governments of these emerging economies have recognized growth potential of E-bikes and hence, governments have taken several initiatives to attract major original equipment manufacturers (OEMs) to manufacture E-bikes in their domestic markets. For instance, in December 2018, the Government of India announced financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under this scheme, there is a subsidy of up to INR 22,000 (US$ 319) for electric scooters or E-bikes. Thus, such government promotions and schemes have led to an increase in sales of E-bikes during the forecast period.

Asia Pacific region is expected to be the largest market, in terms of size during the forecast period, owing to high presence of key players and high purchasing power of consumers. According to China Bicycle Association (CBA), in 2015, China was one of the world’s largest manufacturer of electric bicycles and electric vehicles, with sales of up to 80,000,000 units, which accounted for the major revenue share of global E-bike market turnover. Key players in the global E-bike market are focusing on inorganic growth strategies, in order to expand their presence in the Asia Pacific E-bike market. For instance, in October 2016, Giant Bicycle announced partnership with one of the financial services player ‘Affirm’. Through this partnership, Giant Bicycle’s shoppers can pay for their bicycle purchases over time with Affirm. The company has also added online shopping capabilities to its website for online buyers.

Key Players in the Global E-bike Market 

Key players operating in the global E-bike market includes Yamaha Motor Co., Ltd., Giant Bicycles, AIMA TECHNOLOGY CO., LTD, Accell Group, WUXI YADEA EXPORT-IMPORT CO., LTD., Trek Bicycle Corporation, Fuji-ta Bicycle Co., Ltd., GenZe by Mahindra, BionX International Corporation, ProdecoTech, goldenwheelgroup.com, and Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA) among others.

Global E-bike Market: Taxonomy

By Product Type

  • Pedelecs
  • Throttle Mode
  • Scooter & Motorcycle

By Drive Mechanism

  • Hub Motor
  • Mid Motor

By Battery Type

  • Lead Acid
  • Lithium Ion
  • Nickel-metal Hydride (NiMH)
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users