Electric Bike Market to Make Great Impact in Near Future by 2019

Future Market Insights

Pedelecs expected to lead the product type segment in the electric bike market

At present, pedelecs are the most common types of electric bikes as well as the simplest forms of electric bikes in the market with all the basic functions for city riding. They are low-powered e-bikes where pedalling is mainly assisted by a small electric motor. Pedelecs are the most widely adopted e-bikes in China owing to their inherent advantages. Pedelces are projected to be the most prominent product type segment in the electric bike market growing at a significant CAGR of 3.2% during the forecast period. The demand for electric scooters and motorcycles is growing at a relatively slow pace as compared to pedelecs.

The lead-based battery type segment to dominate the electric bike market

The lead-based battery type segment holds more than 85% in the electric bike market. They are currently the most prominent battery type and this segment is expected to maintain its dominance during the forecast period as lead-based batteries cost lower than other battery types. However, the weight of these batteries is high, they have a low charging life and they violate certain emission norms, owing to which they are likely to be replaced by the Li-ion and the NiMH segment in the coming years. The Li-Ion battery type segment is estimated to grow at a significant CAGR of 3% in terms of value in the electric bike market during the forecast period.

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Battery electric bike estimated to be the most lucrative segment in the electric bike market

The demand for battery electric bikes is estimated to grow at a significant rate and projected to hold more than 80% of the electric bike market throughout the forecast period. The plug-in electric scooter segment is growing at a relatively slow pace as compared to the battery electric bike segment. The slow growth in the plug-in electric bike market is due to an insufficient number of charging stations worldwide. Though plug-in electric bikes can be charged at home, they are likely to require charging station in case of emergency situations for refilling the battery just like conventional vehicles require gas stations or filling stations. Therefore, in terms of value, the battery electric bike segment held more than 80% of the market share in 2017.

Asia Pacific dominates the global electric bike market

Two wheelers are the most prominent mode of transportation in the Asia Pacific (excluding Japan) region, which makes APEJ a key region for the production and sales of two wheelers. The key countries for two-wheeler sales in the APEJ region are China, India, and ASEAN countries. The popularity of two wheelers makes APEJ the most prominent market for electric bikes. The electric bikes market is estimated to grow at a significant CAGR of 3.2% and represent a total incremental opportunity of US$ 6.1 Bn in terms of value during the forecast period.

Competition dashboard

The competitive landscape section of the electric bike market delivers the most insightful information regarding the key market players, their relative global position and business strategies. Manufacturers in the electric bike market are expected to expand with strategic developments such as product launches, expansion, collaborations and acquisitions in the electric bike market.

For instance, in 2017, Eccity Motocycles announced a strategic partnership DAFY networks. The 170 DAFY service centres located throughout France will be used for the delivery, commissioning and maintenance of the ECCITY electric bike. In 2017, Hero Electric announced that it is ready to launch the Flash two wheeler in India. The company launched its newest e-Bike Flash at the Green Mobility Expo 2017, New Delhi (India). In 2016, Gogoro announced the launch of its Gogoro Smartscooter EV and Gogoro Energy Network in Europe at the International Motorcycle and Scooter Show in Milan, Italy. In 2016, Jiangsu Xinri E-Vehicle Co. Ltd. announced the launch of its model SUNRA Electric SD in Thailand. In 2016, Zero Motorcycles announced the introduction of two new motorcycles (Zero FXS & Zero DSR), bringing Zero’s offerings to six distinct models.

Some of the key players operating in electric bike market include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

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The electric bike market has been analysed with respect to segments such as product type, battery type, technology and region. The electric bike market registers demand from product types such as electric scooter, electric motorcycle and pedelec. By battery type, it includes li-ion, NiMH and lead-based batteries. The technology for the electric bike market includes plug-in and battery electric bikes. The electric bike market has been evaluated across primary regions such as North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ) and Middle East & Africa (MEA).

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