Market Size of asia-pacific e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 11.97 Billion |
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Market Size (2029) | USD 14.67 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 4.15 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific E-bike Market Analysis
The Asia-Pacific E-bike Market size is estimated at 11.97 billion USD in 2024, and is expected to reach 14.67 billion USD by 2029, growing at a CAGR of 4.15% during the forecast period (2024-2029).
11.97 Billion
Market Size in 2024 (USD)
14.67 Billion
Market Size in 2029 (USD)
11.32 %
CAGR (2017-2023)
4.15 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
81.17 %
value share, Pedal Assisted, 2023
Most of the countries in the region use pedal-assisted bikes as they are inexpensive, offer good health advantages, can handle much weight with ease, and require little maintenance.
Largest Segment by Application Type
79.36 %
value share, City/Urban, 2023
City/Urban is the largest segment by application type due to the popularity of bicycles as a regular mode of transportation for various purposes, including trips to the market, offices, and schools in the region.
Largest Segment by Battery Type
98.69 %
value share, Lithium-ion Battery, 2023
Lithium batteries are the largest battery type used in Asia-Pacific as they are lightweight, have increased range and quick charging capabilities, and are durable.
Largest Country
90.04 %
value share, China, 2023
The increasing population and higher use of e-bikes for various purposes, such as traveling to schools, offices, and courier deliveries, make China the largest country with e-bike usage in APAC.
Leading Market Player
13.20 %
market share, AIMA technology Group Co. Ltd, 2022
Aima is the largest player in Asia-Pacific as it has a strong customer base in China, which is the largest bicycle market, along with a strong customer reach in other Asian countries.
PROPULSION SEGMENT MARKET OVERVIEW
- Individuals' improved fitness consciousness, greater environmental concern, increased traffic congestion, and government attempts to promote cycling are the key growth factors in this industry. China and Japan are two of the most prominent countries where e-bikes have gained popularity. Some key reasons for consumers adopting and riding e-bikes in Asia-Pacific are health benefits, traffic congestion avoidance, environmental benefits, and rising demand for e-bikes as sports equipment.
- During the COVID-19 pandemic, bicycle demand increased in South Korea. Bicycles are used for transportation and other activities such as sports, exercise, and trekking. The increased public awareness of the health benefits of pedaling is driving demand. Consumers want safer, more comfortable, and ecologically responsible vehicles, which may inspire the associated businesses to develop a range of innovative cycle pedal items. The rise of shared mobility companies has increased the demand for such vehicles for daily travel.
- Rising youth interest in sports like uphill cycling and increased knowledge of the benefits of a healthy and active lifestyle are projected to drive market demand over the coming years. A pedal-assisted bicycle is useful for short distances, but the speed pedelec is expected to be the most convenient option in the future as its power and speed capabilities improve.
Understand The Key Trends Shaping This Market
ASIA-PACIFIC COUNTRY LEVEL MARKET OVERVIEW
- A growing number of cycling events, as well as favorable government and employer initiatives, are likely to drive the industry under consideration. Numerous governing bodies in Asia-Pacific promote road racing, touring and leisure cycling, track racing, off-road racing events, and mountain cycling events, such as The Cycling Federation of India and The Chinese Cycling Association.
- Bicycle sales first fell owing to the nationwide shutdown of offline retailers due to COVID-19 pandemic regulations. However, demand for bicycles has recently grown, with consumers preferring to shun public transit due to fear of getting the virus. As consumers become more health-conscious, bicycles are increasingly viewed as a more trustworthy and healthful method of transportation, which encourages sales. E-bikes, on the other hand, are progressively gaining market share as battery prices fall and client preferences shift. Sales are also expanding at a faster rate, with over 50 companies offering a diverse selection of models. Such variables are expected to have an impact on market growth.
- China and Japan are two of the most prominent countries where e-bikes have gained popularity. Some of the key reasons for adopting and driving e-bikes in Asia-Pacific are health benefits, traffic congestion avoidance, environmental benefits, and rising demand for e-bikes as sports equipment. In recent years, health and environmental quality, as well as the concept of smart cities, have arisen as drivers of bicycles increased. Nonetheless, expansion driven by these factors has been hampered by the cycle-unfriendly environment and infrastructure in most cities.
