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The E-Bike market is expected to grow from US$ 39,660.1 Million in 2022 to US$ 1,08,604.6 Million by 2030. The E-Bike market is estimated to register a CAGR of 13.4% from 2022 to 2030.
The increasing development of e-bikes using lightweight material and advanced smart systems is likely to remain a key trend in the market.
E-Bike Market Analysis
The global e-bike market ecosystem stakeholders include raw material providers, e-bike component manufacturers, and end users. Component suppliers play a crucial role in the E-Bike market's ecosystem by providing the essential materials, equipment, and technologies required to design, manufacture, and install E-Bike systems. These suppliers contribute to the E-Bike industry's overall growth, efficiency, and performance. A raw material supplier plays a crucial role in the manufacturing of e-bikes. China is a hub for the supply of raw materials and component suppliers in order to manufacture the e-bikes. China contributes more than 50% of the share in the overall production and supply of the raw materials and components required for the e-bike market. The major components required are batteries and a motor. These components are widely manufactured in China, Germany, Italy, Japan, and the United States.
E-Bike Market Overview
The major stakeholders in the global e-bike market ecosystem include raw material providers, component providers, and customers or end-users. The raw material provider is a crucial stakeholder in the ecosystem of the e-bike market. The major parts of the electric boat include plastic, steel, aluminum, wood, rubber, and among other parts. Component providers involve marine parts boat manufacturers, and charger providers. The key main end-users demanding electric boats are boat owners and boat rental service providers. The major raw material suppliers include Duffy Electric Boat Company, Evoy, RAND Boats, and other players.
The major e-bike market end users include hobbyists, trekking users, and the urban population. The growth is primarily attributed owing to government support and initiatives for the adoption of e-bikes in various countries. Also, rising investments by the key players in the market for the expansion of the e-bike manufacturing plant is driving the market growth. In April, 2023, EMotorad e-bike manufacturer planned to increase its production capacity of the e-bicycle in 2024. The company raised funding of more than US$ 30 million for this expansion with the aim of promoting green transportation.
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E-Bike Market: Strategic Insights
Market Size Value in US$ 39,660.1 Million in 2022 Market Size Value by US$ 1,08,604.6 Million by 2030 Growth rate CAGR of 13.4% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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E-Bike Market: Strategic Insights
| Market Size Value in | US$ 39,660.1 Million in 2022 |
| Market Size Value by | US$ 1,08,604.6 Million by 2030 |
| Growth rate | CAGR of 13.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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E-Bike Market Drivers and Opportunities
Government Support to Lower Carbon Emissions Transportation
Government-led incentives and schemes are promoting the adoption of e-bikes across the globe. For example, the Government of India provides a subsidiary for e-bike users. Trek Bicycle Corporation, Derby Cycle AG, Fuji Ta Bicycle Co., Ltd., Accell Group N.V., Robert Bosch GmbH, and Giant Manufacturing are major manufacturers focusing on technology and advancements for properly functioning e-bike equipment. For instance, in August 2023, Robert Bosch GmbH launched Performance SX Motor for its latest e-bikes models. This motor is powerful, compact design, and highly revolutionized for the manufacturing of lightweight e-bikes.
Rising Adoption of Connected E-Bikes Among Business and Government Sectors
Increasing adoption and development of the e-bike models and e-bike sharing platforms among individuals around the globe is expected to create ample opportunity for market growth. Several companies are launching e-bike sharing platforms to avoid traffic congestion problems around the globe which is expected to create tremendous opportunities in the upcoming future.
E-Bike Market Report Segmentation Analysis
Key segments that contributed to the derivation of the e-bike market analysis are, battery type, motor type and class.
- Based on the battery type, the e-bike market is divided into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment segment held the largest market share in 2022.
- Based on motor type, the e-bike market is divided into motors hub and mid-motor. The mid motor segment held a larger market share in 2022.
- Based on the class, the market is segmented into class I, class II, and class II. The class I segment held a larger market share in 2022.
E-Bike Market Share Analysis by Geography
The geographic scope of the e-bike market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The scope of the e-bike market report encompasses North America (the US, Canada, and Mexico), Europe (Russia, the UK, France, Germany, Italy, and the Rest of Europe), Asia Pacific (South Korea, India, Australia, Japan, China, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Argentina, Brazil, and the Rest of South & Central America). In terms of revenue, APAC dominated the e-bike market share in 2022. Europe is the second-largest contributor to the global e-bike market, followed by North America.
E-Bike Market Report Scope
E-Bike Market News and Recent Developments
The e-bike market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the e-bike market are listed below:
- The Aventon Abound launched as a high-quality addition to the growing electric cargo bikes. The e-cargo bike is coupled with the 750-Watt rear-geared hub motor. (Source: Aventon Abound, Press Release, February 2023)
- eBikeGo, an India-based electric two-wheeler mobility company, launched an electric bicycle product named Transil e1. Transil brand eBikeGo aimed to produce effective, modern, and sustainable e-bikes for consumers. (Source: eBikeGo, Press Release, January 2023)
E-Bike Market Report Coverage and Deliverables
The “E-Bike Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- E-bike market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- E-bike market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- E-bike market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the e-bike market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Battery Type, Motor Type, Class, Mode
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
US$ 1,08,604.6 million estimated value of the e-bike market by 2030.
13.4% is the expected CAGR of the e-bike market.
APAC dominated the e-bike market in 2022.
The increasing development of e-bikes using lightweight material and advanced smart systems is likely to remain a key trend in the market.
Haibike, Aventon Bikes, Giant Manufacturing Co Ltd, Merida Industry Co., Ltd., Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components, Inc., Shimano Inc., Trek Bicycle Corp., and Yamaha Motor Co Ltd are some of the leading players in the market.
The List of Companies - E-Bike Market
- Haibike
- Aventon Bikes
- Giant Manufacturing Co Ltd
- Merida Industry Co., Ltd.
- Pedego Electric Bikes
- Robert Bosch GmbH
- Specialized Bicycle Components, Inc.
- Shimano Inc.
- Trek Bicycle Corp
- Yamaha Motor Co Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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