Market Overview
| Study Period | 2019 - 2031 |
|---|---|
| Forecast Data Period | 2026 - 2031 |
| Base Year Market Size (2025) | USD 1.17 Billion |
| Market Size (2026) | USD 1.32 Billion |
| Market Size (2031) | USD 2.39 Billion |
| Growth Rate (2026 - 2031) | 12.62 % |
| Market Concentration | Medium |
Major Players *Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. | |
Canada E-bike Market Analysis by Mordor Intelligence
The Canada E-bike market size was valued at USD 1.17 billion in 2025 and estimated to grow from USD 1.32 billion in 2026 to reach USD 2.39 billion by 2031, at a CAGR of 12.62% during the forecast period (2026-2031). A widening menu of provincial purchase rebates, brisk urban adoption of cargo models, and the steady drop in lithium-ion battery costs are nudging commuters away from cars and toward two-wheel electrified mobility. Brands that can pivot inventories between incentive-rich provinces such as British Columbia and incentive-scarce Ontario are capturing disproportionate sell-through. Large-capacity packs and 500-watt-plus motors are now standard on mainstream models, yet UL-certified battery systems remain a critical differentiator as municipalities tighten fire-safety rules. Meanwhile, direct-to-consumer financing tools such as zero-percent APR programs are lowering the up-front hurdle for premium mid-drive e-bikes, compressing price tiers and accelerating replacement cycles.
Key Report Takeaways
- By propulsion type, pedal-assist configurations held 65.27% of the e-bike market share in Canada in 2025, while speed pedelecs are forecast to expand at a 13.18% CAGR through 2031.
- By application, city/urban riding led with 43.51% revenue share in 2025; cargo/utility models are poised to grow at a 13.41% CAGR to 2031.
- By battery chemistry, lithium-ion packs captured 84.15% of the market share in 2025 and are projected to post the segment-best 13.13% CAGR through 2031.
- By motor placement, hub motors retained a 73.22% share in 2025, whereas mid-drive systems are expected to grow at 13.31% through 2031.
- By drive system, chain drives accounted for 67.37% of the market in 2025; belt-drive variants are projected to grow at a 12.98% CAGR through 2031.
- By motor power, sub-250-watt units held a 47.81% share in 2025, while the 501-to-600-watt band is expected to increase by 13.19% through 2031.
- By price band, the USD 3,500–USD 5,999 tier is set to expand at a 13.49% CAGR, overtaking the USD 1,500–USD 2,499 bracket, which led with a 26.17% share in 2025.
- By sales channel, offline retail accounted for 61.22% of sales in 2025, but online direct-to-consumer sales are forecast to grow by 13.47% through 2031.
- By end use, personal and family riders accounted for 47.78% of 2025 revenue, while commercial delivery fleets are expected to grow at a 13.72% CAGR through 2031.
Note: Market size and forecast figures in this report are generated using Mordor Intelligence’s proprietary estimation framework, updated with the latest available data and insights as of 2026.
Market Trends and Insights
Drivers Impact Analysis of Canada E-bike Market*
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Purchase-Rebate Programs | +2.8% | National, with early gains in BC, Nova Scotia, PEI | Short term (≤ 2 years) |
| Declining Lithium-Ion Battery | +2.1% | Global, with Canadian cold-weather applications | Long term (≥ 4 years) |
| Direct-to-consumer E-commerce | +1.9% | National, concentrated in urban centers | Medium term (2-4 years) |
| Product Line-Up Expansion | +1.5% | National, spill-over to rural markets | Medium term (2-4 years) |
| Corporate Micromobility Fleets | +1.4% | Urban centers, Toronto, Vancouver, Montreal | Short term (≤ 2 years) |
| Class-3 Legalization Pilots | +0.8% | Provincial, with Alberta and BC leading | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Government Purchase-Rebate Programs
British Columbia offers residents rebates for standard e-bikes and additional incentives for cargo models[1]. In contrast, Ontario provides no provincial incentive. This discrepancy compels brands to adjust their product mix and pricing by postal code. With funding windows often closing quickly, manufacturers who consign inventory to dealers can benefit from sudden demand spikes. Additionally, the Yukon provides a rebate for cargo bikes, highlighting the growing emphasis on freight-substitution goals in policy discussions [2].
Declining Lithium-Ion Battery USD/kWh
Pack prices continue to decline, enabling assemblers to integrate larger-capacity batteries without altering retail prices. Extended-range features are now being offered on mid-tier commuter models, narrowing the price gap between entry-level and premium trims. This price reduction diminishes the remaining market share of lead-acid systems and clears the way for lithium iron phosphate packs, which are both safer and have longer cycle life. Municipalities, highlighting the reduced risk of thermal runaway, are leaning towards UL-label preferences in their upcoming safety bylaws.
Growth of Direct-to-Consumer E-Commerce
Rad Power Bikes, a prominent brand, offers fully-featured models priced between USD 1,199 and USD 2,399. These models come equipped with UL-certified batteries and IP-rated wiring harnesses, and are shipped directly to consumers. With the allure of interest-free financing and convenient one-click accessories, mid-tier shoppers are increasingly turning away from traditional brick-and-mortar showrooms. In response, traditional dealers have pivoted, focusing on service-only revenue streams and establishing rental fleets. However, online-first sellers still grapple with challenges, including parts logistics, the intricacies of warranty claims, and elevated return rates.
Product Line-Up Expansion by Global Brands
Global incumbents are slicing their catalogs into more precise sub-segments. For example, Giant's lineup includes city, trekking, and mountain builds, all equipped with Yamaha's SyncDrive mid-motors and EnergyPak batteries with varying capacities. In response, Rad Power Bikes introduces the Radster Trail, featuring high torque and UL-certified SafeShield packs. While quicker launch cycles intensify pressure on dealer inventories, they also ensure that model line-ups remain fresh in a market driven by reviews.
Restraints Impact Analysis of Canada E-bike Market*
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Dealer Service-Network Gaps | -1.6% | Rural and secondary urban centers | Medium term (2-4 years) |
| Winter Range Degradation Perception | -1.2% | National, particularly northern regions | Medium term (2-4 years) |
| Fire-Safety Concerns | -0.9% | National, concentrated in multi-unit housing | Short term (≤ 2 years) |
| Import Duties on Chinese Kits | -0.7% | National, affecting budget segments | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Dealer Service-Network Gaps Outside Metros
The four largest metros host the majority of authorized repair centers. With a limited number of dealers nationwide, OHM Electric Bikes has restricted access in Atlantic Canada and northern Ontario. Pedego, which once operated a significant number of outlets, has seen its franchise count decline, reflecting economic challenges facing small-town stores. Rural buyers, weighing the risk of extended downtime, will likely adjust their purchasing decisions until manufacturers either roll out mobile service vans or widely certify independent mechanics.
Fire-Safety Concerns Around Home Charging
Following lithium-ion incidents in Toronto high-rises, a municipal bylaw was introduced to restrict indoor e-bike charging in shared hallways. Property managers now require certified battery packs, dedicated outlets, or outdoor storage, creating additional challenges for apartment residents. As insurance premiums increase, condo boards are debating whether to implement blanket bans or establish managed charging rooms. Although compliance with UL 2849 standards helps reduce risks, ongoing media coverage continues to heighten public concern. This situation has highlighted a clear divide in urban demand patterns between single-family homeowners with garage space and renters in multi-unit buildings.
*Our forecasts treat driver/restraint impacts as directional, not additive. The impact forecasts reflect baseline growth, mix effects, and variable interactions.
Canada E-bike Market Segment Analysis
By Propulsion Type:
Pedal-Assist Dominance ContinuesPedal-assisted models led with 65.27% of 2025 revenue, whereas the speed-pedelec category is forecast to post a 13.18% CAGR during the forecast period (2026-2031). The electric bicycle market in Canada is forecast to grow steadily but cede share as speed-pedelec use cases multiply. Tight 32 km/h limits frustrate suburban commuters who regularly travel through arterial corridors, prompting growing interest in 45 km/h assistance once pilot schemes are introduced.
Municipal trail access policies further entrench pedal-assist popularity: throttle-only Class 2 bikes face restrictions in Toronto’s mixed-use parks. British Columbia’s two-tier light-versus-standard categorization divides the teen and adult markets, which could serve as a blueprint for provinces debating how to treat higher-speed class-3 formats. Should insurance products and helmet rules crystallize, speed-pedelec CAGR may outpace the broader electric bicycle market in Canada through 2031.
By Application Type:
Cargo Utility Spurs Commercial AdoptionCity/urban e-bikes accounted for 43.51% of sales in 2025; cargo/utility platforms are projected to expand at a 13.41% CAGR through 2031, transforming parcel distribution in dense downtown cores. FedEx, Purolator, and Canada Post continue expanding pilot fleets equipped with insulated cargo boxes and integrated telematics.
Commercial buyers value hourly operating costs as much as environmental gains. Fleet managers in Toronto report up to one-third faster deliveries in curbside-restricted zones versus vans. Municipalities offer preferred curb access and zero-emission delivery zones, thereby reinforcing economic benefits. Recreational trekking, bolstered by better battery range and trail investments, provides a third leg of demand, particularly in Alberta’s mountain parks, where e-bikes open longer routes to casual cyclists.
By Battery Type:
Lithium-Ion Remains UnchallengedLithium-ion packs accounted for an 84.15% share in 2025 and are expected to remain the fastest-growing battery chemistry, registering a 13.13% CAGR during the forecast period (2026-2031). Integrated cell-heating pads that maintain voltage in sub-zero conditions drive this growth. Lead-acid batteries continue to serve entry-level kits imported for hobbyists; however, their heavy weight and voltage loss during winter limit their adoption to a niche segment.
Federal and Quebec government support for domestic cathode R&D is strengthening the local supply chain and could reduce lead times and dependence on imports. Manufacturers are increasingly standardizing advanced battery management systems with Bluetooth monitoring, enabling owners to pre-warm battery packs through smartphone applications before riding on −15 °C mornings. These upgrades reduce range anxiety and support longer commutes during winters in cities such as Ottawa and Calgary.
By Motor Placement:
Mid-Drive Units Gain LoyalistsFront- and rear-hub units accounted for 73.22% of the market in 2025. However, mid-drive systems are projected to record the fastest growth, at a CAGR of 13.31% through 2031, driven by improved weight distribution and torque multiplication on snowy inclines. Riders navigating Montreal’s Mont Royal and Vancouver’s hilly West End value the more natural handling offered by these systems.
Mid-drive system reliability has improved as manufacturers incorporate fully sealed housings and cold-rated lubricants. Integration with continuously variable transmissions also reduces cadence fluctuations on slick roads. As global suppliers scale up production, cost gaps continue to narrow, encouraging commuters to adopt premium configurations once exclusive to mountain bikes.
By Drive System:
Belt Drives Trim Winter MaintenanceChain drives are projected to account for 67.37% in 2025, while belt-drive configurations are expected to record a 12.98% CAGR during the forecast period. Their resistance to corrosion from de-icing salts used on Winnipeg streets drives this growth. Commuters are willing to pay higher upfront costs to avoid monthly lubrication and prevent stains on clothing.
OEMs are bundling weather-sealed gearboxes with carbon belts that can operate for up to 20,000 km between replacements. Urban couriers value their quiet operation during predawn deliveries, which improves neighborhood acceptance. As mid-drive motors increasingly standardize on belt pulleys, compatibility barriers are declining, expanding the addressable customer base beyond enthusiast circles.
By Motor Power:
Mid-Range Wattage Builds MomentumSub-250-watt motors are expected to account for 47.81% of the market in 2025. The 501–600-watt segment is projected to register a 13.19% CAGR during the forecast period (2026–2031), driven by riders in Edmonton and Quebec City upgrading their e-bikes to navigate icy headwinds and steep, snow-packed bridges.
Higher-wattage systems often incorporate dual-battery configurations to maintain range under load. In Alberta, regulators permit 750 W on multi-use paths during Class 3 pilot programs, supporting higher-power e-bike configurations for cargo couriers and ski resort staff. Software-limited torque curves restrict acceleration at low speeds, meeting safety requirements while delivering strong hill-climbing performance.
By Price Band:
Rebates Shift Demand to Premium TiersThe USD 1,500–2,499 price tier accounted for 26.17% of revenue in 2025. The USD 3,500–5,999 segment is projected to expand at a CAGR of 13.49% through 2031, as provincial rebates help offset high upfront costs and encourage consumers to upgrade to fat-tire models and heated battery packs.
Premium consumers justify these investments by comparing fuel savings with the costs of using winterized cars. Dealers report that customers use rebates to purchase accessories, such as studded tires and bar mitts, rather than to reduce monthly financing payments. This behavior supports healthy manufacturer margins while advancing broader objectives of electrified mobility policy.
By Sales Channel:
Online Platforms Build ScaleOffline retail accounted for 61.22% of the market in 2025, while online direct-to-consumer sales are projected to grow at a CAGR of 13.47% through 2031. Online direct-to-consumer storefronts, which avoid substantial retail markups, are attracting budget-conscious consumers in densely populated urban centers. Augmented reality fitting tools, modular shipping boxes, and buy-now-pay-later checkout options are reducing consumer hesitation about purchasing products without prior physical inspection.
Direct-to-consumer companies are establishing regional experience hubs where customers can schedule fittings to ensure accurate fit and regulatory compliance. Logistics partners now classify e-bike batteries under specialized hazardous materials codes, reducing transit delays to Nunavut and Newfoundland. This hybrid sales model offers resilience by allowing customers to order customized color schemes online and collect fully tuned bikes from local pop-up locations.
By End Use:
Commercial Fleets Reshape Urban LogisticsPersonal and family riders are projected to account for 47.78% of revenue in 2025. Commercial delivery fleets are expected to grow at a CAGR of 13.72% during the forecast period, as corporate fleet operators recognize the associated cost advantages. FedEx expanded its e-cargo pilot routes in Toronto and Montreal after pilot data showed that downtown parcel drop rates were 20% faster than those of van routes.
Fleet operators require data connectivity to monitor battery health in freezing conditions and schedule predictive maintenance. Municipal pilot zones that waive parking fees for zero-emission vehicles further improve return-on-investment calculations. Universities and hospitals are also increasingly adopting cargo trikes for intra-campus transportation, including models with heated compartments for medical samples.
Geography Analysis
Western Canada leads in adoption owing to supportive rebates and milder coastal climates. British Columbia’s Vancouver boasts 246 km of high-comfort bikeways, enabling commuters to replace car trips year-round. The province’s terrain encourages upscale mid-drive purchases, raising average selling prices above the national mean. Ontario remains the most significant provincial market by unit count, given its population size. However, growth trails BC due to limited provincial incentives and patchy infrastructure beyond the Greater Toronto Area.
Quebec positions itself as a battery-innovation hub, coupling Montreal’s 360 km protected-lane network with provincial R&D funds that attract cathode makers. Local winters encourage fat-tire sales and accessories like heated grips, fueling vendor specialization. Atlantic provinces gain momentum through targeted rebates. Nova Scotia covers up to CAD 500 per e-bike, while durable frames suited to briny sea air become selling points in Halifax and Charlottetown.
Prairie provinces display mixed dynamics. Calgary and Edmonton city councils offer municipal vouchers that spur urban uptake, yet vast rural distances and scarce service centers temper wider penetration. Manitoba’s harsh cold pushes riders toward high-capacity packs and belt drives that survive salt exposure. Northern territories remain nascent markets, as extreme temperatures and limited daylight shorten riding seasons, but pilot programs in Whitehorse assess the feasibility of fat-tire commuting on groomed winter paths.
Competitive Landscape
The Canadian e-bike market is moderately concentrated. Global giants like Giant, Trek, and Specialized leverage broad supplier networks and nationwide dealerships. Homegrown brands like Biktrix, Surface 604, ENVO, and OHM capitalize on climate-specific know-how, often designing frames with extra fender clearance for slush buildup. UL 2849 certification became a de facto requirement in 2024, raising compliance costs that smaller importers struggle to bear.
Strategic moves underline the race for winter differentiation. Biktrix promotes a lifetime frame warranty that covers corrosion from road salt, banking on Prairie's reputation to command loyalty. Trek deploys pop-up winter service centers that offer same-day studded tire installations, keeping suburban commuters rolling through blizzards.
Partnerships form another pillar of competition. Surface 604 collaborates with telecom providers to embed LTE trackers, minimizing theft risk in dense Montreal boroughs. ENVO pairs with utility companies to co-market off-peak charging plans, tapping favorable household electricity rates in Ontario. Consolidation surfaced in May 2025 when Chaos Sports acquired Rocky Mountain Bicycles, positioning the new parent to cross-sell premium e-mountain bikes through Rocky’s established dealer lattice.
Canada E-bike Industry Leaders
-
Cervélo Cycles Inc.
-
Pon Holdings BV
-
Giant Manufacturing Co. Ltd.
-
Pedego Electric Bikes
-
Specialized Bicycle Component, Inc.
- *Disclaimer: Major Players sorted in no particular order
Canada E-bike Market Companies Covered in this Report
- Biktrix Enterprises Inc.
- Cervélo Cycles Inc.
- Daymak Inc.
- Pon Holdings BV
- Giant Manufacturing Co. Ltd.
- Pedego Electric Bikes
- Rad Power Bikes
- Ride Aventon Inc
- Royal Dutch Gazelle
- Specialized Bicycle Component, Inc.
- Trek Bicycle Corporation
- Yamaha Bicycles
- VoltBike
- Magnum Bikes
Recent Industry Developments in Canada E-bike Market
- June 2026: Lime Canada partnered with the City of Burnaby to launch its first e-bike share program. The program provides residents and visitors with an affordable, flexible, and sustainable transportation option.
- February 2026: The District of West Vancouver joined the City of North Vancouver, the District of North Vancouver, Sḵwx̱wú7mesh Úxwumixw (Squamish Nation), and səl̓ílwətaɬ (Tsleil-Waututh Nation) in appointing BCAA’s Evolve as the new operator of the North Shore E-bike Share Program. Following a successful pilot program, the initiative will continue to provide residents and visitors with a convenient and sustainable option to commute, run errands, and explore the North Shore using electric bikes.
Canada E-bike Market Report Scope
The scope includes segmentation by propulsion type (pedal assisted, speed pedelec, and throttle assisted), application type (cargo/utility, city/urban, and trekking/mountain), battery type (lead acid, lithium-ion, and others), motor placement (hub (front/rear) and mid-drive), drive systems (chain drive and belt drive), motor power (less than 250 W, 251-350 W, 351-500 W, 501-600 W, and more than 600 W), price band (up to USD 1,000, USD 1,000-1,499, USD 1,500-2,499, USD 2,500-3,499, USD 3,500-5,999, and above USD 6,000), sales channel (online and offline), and end use (commercial delivery (retail & goods delivery, food & beverage delivery), service providers, personal and family use, institutional, and others). Market size and growth forecasts are presented by value in USD and by volume in units.
Segmentation Overview
By Propulsion Type
| Pedal Assisted |
| Speed Pedelec |
| Throttle Assisted |
By Application Type
| Cargo/Utility |
| City/Urban |
| Trekking/Mountain |
By Battery Type
| Lead Acid Battery |
| Lithium-ion Battery |
| Others |
By Motor Placement
| Hub (Front/Rear) |
| Mid-Drive |
By Drive Systems
| Chain Drive |
| Belt Drive |
By Motor Power
| Less than 250 W |
| 251-350 W |
| 351-500 W |
| 501-600 W |
| More than 600 W |
By Price Band
| Up to USD 1,000 |
| USD 1,001-1,499 |
| USD 1,500-2,499 |
| USD 2,500-3,499 |
| USD 3,500-5,999 |
| Above USD 6,000 |
By Sales Channel
| Online | |
| Offline | Specialized E-Bike Retailers |
| Traditional Bike Shops | |
| Department Stores & Sporting Goods Chains |
By End Use
| Commercial Delivery | Retail & Goods Delivery |
| Food & Beverage Delivery | |
| Service Providers | |
| Personal & Family Use | |
| Institutional | |
| Others |
| By Propulsion Type | Pedal Assisted | |
| Speed Pedelec | ||
| Throttle Assisted | ||
| By Application Type | Cargo/Utility | |
| City/Urban | ||
| Trekking/Mountain | ||
| By Battery Type | Lead Acid Battery | |
| Lithium-ion Battery | ||
| Others | ||
| By Motor Placement | Hub (Front/Rear) | |
| Mid-Drive | ||
| By Drive Systems | Chain Drive | |
| Belt Drive | ||
| By Motor Power | Less than 250 W | |
| 251-350 W | ||
| 351-500 W | ||
| 501-600 W | ||
| More than 600 W | ||
| By Price Band | Up to USD 1,000 | |
| USD 1,001-1,499 | ||
| USD 1,500-2,499 | ||
| USD 2,500-3,499 | ||
| USD 3,500-5,999 | ||
| Above USD 6,000 | ||
| By Sales Channel | Online | |
| Offline | Specialized E-Bike Retailers | |
| Traditional Bike Shops | ||
| Department Stores & Sporting Goods Chains | ||
| By End Use | Commercial Delivery | Retail & Goods Delivery |
| Food & Beverage Delivery | ||
| Service Providers | ||
| Personal & Family Use | ||
| Institutional | ||
| Others | ||
Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
