GLOBAL E-BIKE MARKET FORECAST 2021-2028

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GLOBAL E-BIKE MARKET FORECAST 2021-2028

Inkwood Research estimates that the global e-bike market will reach $47445.60 million by 2028, growing at a CAGR of 9.16% during the forecast period. Electric bikes are bicycles with an integrated drive mechanism. It has an electric motor and a battery that generates power to trigger or assist propulsion. E-bikes range from small motor electric bikes to support the rider’s pedal-power to more powerful e-bikes that generate power using the throttle to move the bike entirely. Several types of e-bikes are available across the world.

GLOBAL E-BIKE MARKET FORECAST 2021-2028

Global E-bike Market by Product (Pedelecs, Throttle on Demand, Scooter or Motorcycle) by Drive Mechanism (Hub Motor, Mid Drive, Others) by Application (City/urban, Trekking, Cargo) and by Geography.

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Inkwood Research estimates that the global e-bike market will reach $47445.60 million by 2028, growing at a CAGR of 9.16% during the forecast period. The base year considered for the analysis is 2020, while the forecasted period is between 2021 and 2028.

Electric bikes are bicycles with an integrated drive mechanism. It has an electric motor and a battery that generates power to trigger or assist propulsion. E-bikes range from small motor electric bikes to support the rider’s pedal-power to more powerful e-bikes that generate power using the throttle to move the bike entirely. Several types of e-bikes are available across the world.

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Electric bikes are portable, eco-friendly, trendy, and a flexible mode of transport. It is considered to be an ideal replacement for scooters, smart vehicles, and public transport. Due to the smaller size of e-bikes, traffic congestion will also reduce. One can reach higher speeds with less effort, and reap the benefits of peddling.

Key drivers of the global e-bike market growth are:

  • Government incentives that encourage the use of electric bikes
    • Governments of various countries are taking initiatives to reduce the carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles. This is due to the increasing awareness of the hazardous effects of using vehicles running on fossil fuels.
    • Moreover, governments are constructing bicycle-friendly streets, encouraging individuals to opt for the bicycle as a key mode of commute.
    • Such incentives by the governments are fueling the market growth of the e-bike.
  • Changing consumer preferences toward the use of e-bikes for commute

Key factors that restrain market growth are:

  • High cost of buying e-bikes & product recalls
    • E-bikes are becoming more expensive than the normal motorbikes, due to their design, wiring, motor or mini engine, and battery power expenses.
    • The replacement cost of the battery for a premium e-bike approximately varies from USD 500 to USD 800.
    • In addition, the per annum average maintenance cost of an e-bike is around USD 280.
    • These cost problems are restraining market growth.
  • Distribution challenges

The report scope of the global e-bike market covers the segmentation analysis of product, drive mechanism, and application.

Market by Application:

  • City/Urban
    • The city/urban application segment harbored the largest market share in the e-bike market, in 2020.
    • Cities face traffic issues due to the growing number of vehicles.
    • The international organizations and governments across the world are implementing stricter norms for reducing carbon emission levels, given the health and environmental concerns. E-bikes are proving to be the ideal solutions for these problems.
  • Trekking
  • Cargo

Geographically, the global e-bike market has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium, the Netherlands, and Rest of Europe
    • E-Bike is showing promising trends in Europe.
    • The region is expected to project the fastest growth during the forecast period
    • In cities such as Germany, the UK, France, Italy, Belgium, and the Netherlands, infrastructure has been developed for the public where e-bikes can be used without interference of heavy vehicle traffic.
    • The national incentive scheme on the purchase of e-bikes in France, and similar incentives and initiatives, further propel the market growth of Europe.
  • Asia Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East & Africa

The major players in the global e-bike market are:

  • Accel Group
  • BMZ GmbH
  • Giant Manufacturing
  • Derby Cycle
  • Fuji Ta Bicycle
  • Others

Key strategies adopted by some of these companies:

In September 2020, Pedego launched its lowest-priced electric bicycle, Pedego Element.  In January 2020, VanMoof launched the first augmented reality purchase experience in the bike industry. In January 2020, Hero Cycles Ltd acquired a stake in HNF Nicolai, an e-bike maker.

Key trends of the global e-bike market:

  • The rising fuel costs further drive the adoption of the e-bikes.
  • There has been an increase in the usage of e-bikes for delivery services.
  • The advanced bicycling infrastructure & battery technology is beneficial for the e-bike market growth.
  • The e-bike sharing system may increase the affordability of the market.

Frequently Asked Questions & Answers (FAQs):

  • Why is there a sudden rise in the sale of e-bikes during the COVID-19 pandemic?

     A: The fear of contracting COVID-19, and the growing awareness of social distancing, have led to a sudden rise in the sales of e-bikes.

  • Which countries provide incentives for e-bikes?

     A: European countries are at the forefront of providing incentives for e-bikes. Some of them include France, Netherlands, Belgium, Austria, the United Kingdom, Germany, etc.

  • Which region is a potential key investment pocket for the e-bike market?

     A: The Netherlands is a potential key investment pocket for the e-bike market.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • MARKET DEFINITION
    •    KEY DRIVERS
      • GOVERNMENT INCENTIVES THAT ENCOURAGE THE USE OF ELECTRIC BIKES
      • CHANGING CONSUMER PREFERENCES TOWARD USE OF E-BIKES FOR COMMUTE
    •    KEY RESTRAINTS
      • HIGH COST OF BUYING E-BIKES & PRODUCT RECALLS
      • DISTRIBUTION CHALLENGES
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON E-BIKE MARKET
    • KEY INVESTMENT INSIGHTS
    •    PORTER’S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  2. MARKET BY PRODUCT
    • PEDELECS
    • THROTTLE ON DEMAND
    • SCOOTER OR MOTORCYCLE
  3. MARKET BY DRIVE MECHANISM
    • HUB MOTOR
    • MID DRIVE
    • OTHERS
  4. MARKET BY APPLICATION
    • CITY/URBAN
    • TREKKING
    • CARGO
  5. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •     EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • NETHERLANDS
        • REST OF EUROPE
    •     ASIA PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA PACIFIC
    •     REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    •    KEY STRATEGIC DEVELOPMENTS
      • MERGER & ACQUISITIONS
      • PRODUCT LAUNCH & DEVELOPMENTS
      • PARTNERSHIP, CONTRACT/AGREEMENT & COLLABORATION
      • BUSINESS EXPANSION
    •    COMPANY PROFILES
      • ACCELL GROUP
      • BMZ GMBH
      • BROSE FAHRZEUGTEILE SE & CO KG
      • DERBY CYCLE
      • FUJI-TA BICYCLE CO LTD
      • GIANT MANUFACTURING CO LTD
      • JIANGSU XINRI E-VEHICLE CO LTD
      • LG CHEM
      • GENZE (MAHINDRA & MAHINDRA)
      • PANASONIC CORPORATION
      • ROBERT BOSCH GMBH
      • SAMSUNG SDI CO LTD
      • SHIMANO INC
      • GOLDEN WHEEL GROUP
      • TREK BICYCLE CORPORATION

 LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – E-BIKE

TABLE 2: GLOBAL E-BIKE MARKET, BY PRODUCT, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 3: GLOBAL E-BIKE MARKET, BY PRODUCT, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 4: GLOBAL PEDELECS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 5: GLOBAL PEDELECS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 6: GLOBAL THROTTLE ON DEMAND MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 7: GLOBAL THROTTLE ON DEMAND MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 8: GLOBAL SCOOTER OR MOTORCYCLE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 9: GLOBAL SCOOTER OR MOTORCYCLE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 10: GLOBAL E-BIKE MARKET, BY DRIVE MECHANISM, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 11: GLOBAL E-BIKE MARKET, BY DRIVE MECHANISM, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 12: GLOBAL HUB MOTOR MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 13: GLOBAL HUB MOTOR MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 14: GLOBAL MID DRIVE MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 15: GLOBAL MID DRIVE MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 16: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 17: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 18: GLOBAL E-BIKE MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 19: GLOBAL E-BIKE MARKET, BY APPLICATION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 20: GLOBAL CITY/URBAN MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 21: GLOBAL CITY/URBAN MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 22: GLOBAL TREKKING MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 23: GLOBAL TREKKING MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 24: GLOBAL CARGO MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 25: GLOBAL CARGO MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 26: GLOBAL E-BIKE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 27: GLOBAL E-BIKE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 28: NORTH AMERICA E-BIKE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 29: NORTH AMERICA E-BIKE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 30: LEADING PLAYERS OPERATING IN NORTH AMERICA E-BIKE MARKET

TABLE 31: EUROPE E-BIKE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 32: EUROPE E-BIKE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 33: LEADING PLAYERS OPERATING IN EUROPE E-BIKE MARKET

TABLE 34: ASIA PACIFIC E-BIKE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 35: ASIA PACIFIC E-BIKE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 36: LEADING PLAYERS OPERATING IN ASIA PACIFIC E-BIKE MARKET

TABLE 37: REST OF WORLD E-BIKE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 38: REST OF WORLD E-BIKE MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 39: LEADING PLAYERS OPERATING IN REST OF THE WORLD E-BIKE MARKET

LIST OF FIGURES

FIGURE 1: KEY INVESTMENT INSIGHTS

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: GLOBAL E-BIKE MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2020

FIGURE 6: GLOBAL E-BIKE MARKET, BY PEDELECS, 2021-2028 (IN $ MILLION)

FIGURE 7: GLOBAL E-BIKE MARKET, BY THROTTLE ON DEMAND, 2021-2028 (IN $ MILLION)

FIGURE 8: GLOBAL E-BIKE MARKET, BY SCOOTER OR MOTORCYCLE, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL E-BIKE MARKET, GROWTH POTENTIAL, BY DRIVE MECHANISM, IN 2020

FIGURE 10: GLOBAL E-BIKE MARKET, BY HUB MOTOR, 2021-2028 (IN $ MILLION)

FIGURE 11: GLOBAL E-BIKE MARKET, BY MID DRIVE, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL E-BIKE MARKET, BY OTHERS, 2021-2028 (IN $ MILLION)

FIGURE 13: GLOBAL E-BIKE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2020

FIGURE 14: GLOBAL E-BIKE MARKET, BY CITY/URBAN, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL E-BIKE MARKET, BY TREKKING, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL E-BIKE MARKET, BY CARGO, 2021-2028 (IN $ MILLION)

FIGURE 17: NORTH AMERICA E-BIKE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 18: UNITED STATES E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 19: CANADA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 20: EUROPE E-BIKE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 21: UNITED KINGDOM E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 22: GERMANY E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: FRANCE E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: ITALY E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: RUSSIA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: BELGIUM E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: NETHERLANDS E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 28: REST OF EUROPE E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: ASIA PACIFIC E-BIKE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 30: CHINA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 31: JAPAN E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: INDIA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: SOUTH KOREA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: INDONESIA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 35: THAILAND E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 36: VIETNAM E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: AUSTRALIA & NEW ZEALAND E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 38: REST OF ASIA PACIFIC E-BIKE MARKET, 2021-2028 (IN $ MILLION

FIGURE 39: REST OF WORLD E-BIKE MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 40: LATIN AMERICA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

FIGURE 41: MIDDLE EAST & AFRICA E-BIKE MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY PRODUCT
    • PEDELECS
    • THROTTLE ON DEMAND
    • SCOOTER OR MOTORCYCLE
  2. MARKET BY DRIVE MECHANISM
    • HUB MOTOR
    • MID DRIVE
    • OTHERS
  3. MARKET BY APPLICATION
    • CITY/URBAN
    • TREKKING
    • CARGO
  4. GEOGRAPHICAL ANALYSIS
    •    NORTH AMERICA
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •     EUROPE
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • ITALY
        • RUSSIA
        • BELGIUM
        • NETHERLANDS
        • REST OF EUROPE
    •     ASIA PACIFIC
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • INDONESIA
        • THAILAND
        • VIETNAM
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA PACIFIC
    •     REST OF WORLD
      • MARKET SIZE & ESTIMATES
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      •    REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

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