The Global E-Bike Market is projected to grow at a CAGR of 7.9 % during the forecast period, to reach USD 66.3 billion by 2027 from an estimated USD 4.2 billion in 2020. Globally, many countries are facing the problem of traffic congestion, especially in crowded cities. The number of vehicles is increasing day by day, rendering the existing road infrastructure insufficient. Traffic congestion affects the personal and professional life of the people. As a result, governments and civic bodies are taking steps to reduce traffic congestion. Many cities are now actively promoting the use of electric bicycles for transportation in cities. Electric bicycles take the same amount of space as a normal or traditional bicycle. The use of e-bikes can reduce the number of cars on the road and, as they occupy minimum road space, result in fewer traffic jams.
E-bikes have witnessed continuous research and development over the years. Nevertheless, there are still some technological challenges and gaps with the current e-bikes, which can hold back the growth of e-bikes. Battery maintenance is a major concern with e-bikes. Electric bike batteries have a limited life span, which is about 2-3 years for lithium-ion chemistry. In the case of throttle e-bikes, the throttle may get loose due to the rider’s tendency to pull it back and let it go without slow release. This affects the throttle in due time and may need to be replaced. For a mid-motor drive, controllers are not easily accessible and, thus, involve high expenses in the event of a malfunction. A trained technician can open the motor casing. Another common problem is with the chain/belt that can fall off due to inadequate tension or damaged sprocket. Chains and sprockets may get worn due to extensive use and need to be replaced.
Bike-sharing is a thrilling new model of public and private transportation that has rapidly emerged in recent years. It offers a healthy, sustainable, and alternative transportation choice, particularly for short trips. The new trend in the cycling world is an e-bike, and this trend is now changing the bike-sharing industry. It has multiple benefits over traditional bicycles. Currently, there are 0.04 million shared e-bikes present globally, and approximately half of them are in China. Electric bikes (e-bikes) can provide a higher level of service compared to regular bike share systems. Electric bicycles reduce the effort required by the rider, promoting greater travel distances and easier use over hilly terrain. While the high price of e-bikes is a major concern for a rider, sharing electric bikes can overcome price barriers by dividing the cost between many users. Unlike the traditional bike-sharing system, e-bike companies have introduced dockless e-bike sharing, which benefits both the rider and service provider. Also, many countries such as the US, China, and Germany are introducing e-bikes in public bike-sharing programs. These bike-sharing programs can help tremendously in the growth of the e-bike market.
The distribution channel is vital for the growth of a product in the market. An e-bike is a product with technically advanced components. It, thus, requires exclusive distribution channels and technically sound representatives who can guide customers about the technology to fulfill their requirements. Unfortunately, at present, there are a few e-bike retailers and distributors in most global markets. Many merchants and traditional bicycle retailers deal in e-bikes but lack the expertise and maintenance facilities to support the growing e-bike industry. Many e-bike manufacturers are trying to collaborate with independent dealers and mass retailers that will effectively deliver and provide aftersales services to customers.
The key players in electric bicycle market are Trek Bicycle Corporation (U.S.), Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Moustache Bikes (France), and Jiangsu Xinri E-Vehicle Co., Ltd. (China). myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K.), Pedego Electric Bikes (California), and A2B Electric Bikes (U.K) are among others.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Amongst these, the Asia Pacific region is dominating the electric bicycle market. Presence of developing nations such as China, Japan and India is one of the major factors driving the electric bicycle market. China is the largest market for electric bicycle. Since 2015, the sales have grown massively in China. Outgrowing U.S., China is now the most attractive country for electric bicycles. China has strengthened its industry leadership by making profits across all scopes of the supply side of electric bicycles including current and projected production of electric bicycle and their components, such as electric motors and lithium-ion battery cells.
E-bikes have witnessed continuous research and development over the years. Nevertheless, there are still some technological challenges and gaps with the current e-bikes, which can hold back the growth of e-bikes. Battery maintenance is a major concern with e-bikes. Electric bike batteries have a limited life span, which is about 2-3 years for lithium-ion chemistry. In the case of throttle e-bikes, the throttle may get loose due to the rider’s tendency to pull it back and let it go without slow release. This affects the throttle in due time and may need to be replaced. For a mid-motor drive, controllers are not easily accessible and, thus, involve high expenses in the event of a malfunction. A trained technician can open the motor casing. Another common problem is with the chain/belt that can fall off due to inadequate tension or damaged sprocket. Chains and sprockets may get worn due to extensive use and need to be replaced.
Bike-sharing is a thrilling new model of public and private transportation that has rapidly emerged in recent years. It offers a healthy, sustainable, and alternative transportation choice, particularly for short trips. The new trend in the cycling world is an e-bike, and this trend is now changing the bike-sharing industry. It has multiple benefits over traditional bicycles. Currently, there are 0.04 million shared e-bikes present globally, and approximately half of them are in China. Electric bikes (e-bikes) can provide a higher level of service compared to regular bike share systems. Electric bicycles reduce the effort required by the rider, promoting greater travel distances and easier use over hilly terrain. While the high price of e-bikes is a major concern for a rider, sharing electric bikes can overcome price barriers by dividing the cost between many users. Unlike the traditional bike-sharing system, e-bike companies have introduced dockless e-bike sharing, which benefits both the rider and service provider. Also, many countries such as the US, China, and Germany are introducing e-bikes in public bike-sharing programs. These bike-sharing programs can help tremendously in the growth of the e-bike market.
The distribution channel is vital for the growth of a product in the market. An e-bike is a product with technically advanced components. It, thus, requires exclusive distribution channels and technically sound representatives who can guide customers about the technology to fulfill their requirements. Unfortunately, at present, there are a few e-bike retailers and distributors in most global markets. Many merchants and traditional bicycle retailers deal in e-bikes but lack the expertise and maintenance facilities to support the growing e-bike industry. Many e-bike manufacturers are trying to collaborate with independent dealers and mass retailers that will effectively deliver and provide aftersales services to customers.
The key players in electric bicycle market are Trek Bicycle Corporation (U.S.), Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Moustache Bikes (France), and Jiangsu Xinri E-Vehicle Co., Ltd. (China). myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K.), Pedego Electric Bikes (California), and A2B Electric Bikes (U.K) are among others.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Amongst these, the Asia Pacific region is dominating the electric bicycle market. Presence of developing nations such as China, Japan and India is one of the major factors driving the electric bicycle market. China is the largest market for electric bicycle. Since 2015, the sales have grown massively in China. Outgrowing U.S., China is now the most attractive country for electric bicycles. China has strengthened its industry leadership by making profits across all scopes of the supply side of electric bicycles including current and projected production of electric bicycle and their components, such as electric motors and lithium-ion battery cells.
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