E-bike Market is Growing Faster

The global E-bike market is growing at a 11.5% of CAGR during forecast period 2021 to 2030. Electric bicycle sales has been growing at an majestic rate in the US post COVID-19 pandemic.

Asia Pacific is projected to lead the electric-bike market owing to the high sales of e-bikes in the region. Asia Pacific contributed about 88% to the global electric bike market in 2020 by volume.

The European region dominated with 39% of market share. The European region was dominated by Germany, followed by France and Italy.

The global E-bike market is driven by increasing consumer preference toward recreational and adventure activities and the adoption of electric bike applications in respective sectors, like e-bike rental services and logistics.

Government regulations and lack of infrastructure

Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the electric bike market growth.

Growing popularity of e-MTB. And High Cost of e-bikes

High cost of e-bikes is a major factor that restrains the growth of the E-bikes market. The cost of the battery and technology makes e-bikes costlier as compared to traditional bicycles, conventional scooters, or motorcycles. Hence, consumers find conventional scooters or motorcycles superior in performance with same or less price.

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Technology Challenges

The two most fundamental elements of the e-bike are the motor and battery. The motor provides the force, and the battery stores and supplies the energy. Controlling the speed and torque of the motor across a wide range of speed and load conditions is one of the challenges for ebike manufacturers.

The main challenges in encouraging growth in the global e-bike market lie in designing a smart battery. E-bikes must travel long distances in a short period. This places tremendous pressure on their batteries which have limited capacity for storing energy. There is also another challenge of designing e-bikes that would work with and be responsive to apps on mobile devices.

Trend towards connected e-bikes and Improvement in bicycling infrastructure & battery technology

Some of the important features offered by the connected e-bike include automatic emergency calls, integrated navigation, social media connection, anti-theft system, and remote diagnostics. Bosch is one of the major players in the e-bike market, offering connected electric bike solutions.

E-bikes are less expensive than cars, do not require license, and can be used on existing bicycling infrastructure. Rapid urbanization and less preference of consumers to use cars due to increased traffic congestion are anticipated to offer lucrative opportunities for market expansion. In addition, governments of various countries focus on the development of infrastructure for e-bikes, including bicycle tracks and public charging stations with the inclination of consumers toward e-bikes.

The major key players operating in the market are Accell Group, Yamaha Motor Co. Ltd, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation.

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