Market Size of E-Bike Battery Pack Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 12.74 Billion |
| Market Size (2029) | USD 23.80 Billion |
| CAGR (2024 - 2029) | 13.33 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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E-bike Battery Market Analysis
The E-Bike Battery Pack Market size is estimated at USD 12.74 billion in 2024, and is expected to reach USD 23.80 billion by 2029, growing at a CAGR of 13.33% during the forecast period (2024-2029).
In 2020, the e-bike battery pack market witnessed a steady downfall in global demand due to the COVID-19 outbreak. Governments across the nations issued strict policies and regulatory frameworks to lower infection rates. However, on a microscale, the pandemic had a positive impact on electric bike sales. The growing health concerns resulted in more sales of e-bikes. For instance,
- In 2020, about 1.95 million e-bikes were sold in Germany, up from 1.36 million in 2019.
The motor and battery are the two key components of an e-bike. Choosing the right battery pack plays a crucial role in purchasing an e-bike. The battery is also the costliest component of an e-bike. Currently, there are 24V, 36V, 48V, 52V, and 72V batteries available for e-bike applications.
Most legal electric bike kits use a 36V battery, and the more powerful motors may use a 48V or even a 52V battery. For very high-performance e-bikes, voltages can go up to 72V and beyond.
Over the long term, growing e-bike sales, a rise in e-bike sharing services, government initiatives to promote electromobility, and new launches of battery packs are expected to result in healthy sales of e-bike battery packs.
Key players are launching new products to address the growing market for e-bike battery packs and gain more market share. For instance,
- In July 2022, Appear Inc. launched new graphene battery packs in 36V, 48V, 60V, 64V, and 72V ratings for E-Bikes, E-Scooters, and Pedelecs.
- In July 2022, UK-based e-bike conversion company Swytch launched its new e-bike conversion kit.
Geographically, Asia-Pacific was predicted to be the largest market for e-bike battery packs due to the widespread adoption of e-bikes, many major cities offering e-bike sharing services, rapid urbanization, growing traffic congestion and vehicular pollution, the large presence of battery OEMs, and growing usage of e-bikes by E-commerce and food delivery companies for last-mile delivery applications.
Europe is predicted to be the next biggest market for e-bike battery packs due to the rising sales of e-bikes, growing health consciousness amongst the general population, and the growing tendency to use e-bikes for adventure activities like mountaineering.
Thus, the confluence of the aforementioned factors is expected to produce significant growth in the e-bike battery pack market.
