Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Europe |
| Largest Market: | Asia Pacific |
| CAGR: | 12.27 % |
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Market Overview
The e-bike market was valued at USD 23.89 billion in 2020 and is expected to reach USD 47.68 billion by 2026, growing at a CAGR of 12.27 % during the forecast period, 2021-2026.
Due to the COVID-19 pandemic outbreak and the subsequent lockdowns (with all the restrictions followed), the production of e-bikes witnessed a decline. However, as life slowly returns to a state of normalcy, the market is picking up pace. Due to the pandemic and the risk of contamination, while commuting via public transport, people are showing an increased interest in buying their own means of commute.
Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period.
The market has been segmented by propulsion type and application type. In 2020, by propulsion type, pedal-assisted e-bikes dominated the market and accounted for a significant share of the global market. By application type, the city/urban e-bikes segment dominated the market.
Asia-Pacific is expected to dominate the global market. In Asia-Pacific, China led the regional market. The largest consumption of electric bikes was in China, which boosted the sales figure, thus influencing the growth of the global market for electric bikes.
Some of the major players in the e-bike market are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and M1 Sporttechnik.
Scope of the Report
The e-bike market report covers a detailed study on the latest trends and innovations in the market which has been segmented by Propulsion Type (Pedal-assisted and Throttle-assisted (Power-on-demand)), Application (City/Urban, Trekking (E-mountain Bikes/e-MTB), and Cargo), Battery Type (Lithium-ion Battery, Lead-acid Battery), By Power (Less than and Equal to 250W, Above 250W), and Geograph. The report offers market size and forecast on the e-bike market in Value (USD billion) for the all above-mentioned segments.
The report also covers a detailed study on the e-bike manufacturers and components suppliers globally.
| Propulsion Type | |
| Pedal Assisted | |
| Throttle-assisted (Power-on-demand) |
| By Application | |
| City/Urban | |
| Trekking (E-mountain Bikes/e-MTB) | |
| Cargo |
| By Battery Type | |
| Lithium-ion Battery | |
| Lead-acid Battery |
| By Power | |
| Less than and Equal to 250W | |
| Above 250W |
| Geography | |||||||
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Key Market Trends
Growing Demand for Eco-friendly Transportation
- Due to increasingly busy lives and the need to commute daily, it has become almost necessary to own a vehicle, as public transport often is not reliable. On the back of that, there is a growing concern for preserving and sustaining the environment for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns. This poses a unique challenge for both society and governments. E-bikes are the ideal solution to this problem. They are environment-friendly, and they solve the problem of the daily commute. This is augmenting the demand for e-bikes.
- As people’s lives get busy, they need to travel around more nowadays. However, with the continually growing environmental and health concerns, there is an increase in emission levels from transports. Hence, governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.
- Additionally, the depletion of fossil fuel levels at an alarming rate has been creating concerns for sustainability for future generations. This factor is posing a huge challenge for governments and society. Thus, e-bikes are proving to be an ideal solution for this problem.
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Europe is the Fastest-growing Market
The European region accounted for approximately 39 % of the e-bike market. The European region was dominated by Germany, followed by France and Italy.
In Germany, e-bike is a preferred mode of commute. E-bikes are also used in this country for sports and leisure. They serve as a clean, quiet, and space-saving alternative for city logistics, in the country.
Some of the major factors driving the sales of the e-bike market are the innovative nature of the product, fully-integrated batteries and drives, appealing designs, as well as the use of high-quality materials.
The major players in the region are introducing the latest products to capture the growing market. For instance,
- Gazelle, one of the subsidiaries of the Pon Bike Group, developed a cargo e-bike, the Gazell D10 model, with joint-partners Aluca and DOCKR (mobility as a services (MaaS) start-up). The new cargo e-bike, identified as light electrical freight transporter (LEFT), accommodates up to two standard carriage boxes with Euro Pallet dimensions (1,200*800*1,100 millimeter), capable of carrying a volume of one cubic meter and load capacity of 100 kg.
Apart from Germany, countries, like France, Italy, the Netherlands, and Spain, also witnessed a high demand for e-bikes. Some of the major reasons considered for adopting e-bikes are the health benefits, environmental benefits, reduction in expenditure, avoidance of traffic congestion, and the increase in demand for e-bikes as sports equipment among the youth. In the Netherlands, a quarter of all Europeans were found to be willing to commute by e-bikes.
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Competitive Landscape
The e-bike market is extremely fragmented, with the major players holding a low share of the total market share. Some of the major market players are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and Fritzmeier Systems GmbH & Co. Kg (M1 Sporttechnik). Giant Bicycles is the largest player in this market.
All of these companies' presence is majorly concentrated in China, with Europe and North America being the other important markets. The companies are diversifying their product portfolio through innovations and new launches and are aiming to continue their spots as the market leaders.
Recent Developments
Several players in the market are launching latest products to attract more customers and gain market share. For instance,
- In March 2021, Cannondale launches Adventure Neo range of commuter e-bikes. Cannondale launches lineup of step-through, Bosch-powered e-bikes for city riding. The Adventure Neo line features four different models, all of which feature an alloy frame, step-through design, and Bosch drive system with a battery ranging from 400 to 625Wh.
- In December 2020, Merida has announced three new electric bikes: the eScultura drop-bar road, eSpeeder flat-bar hybrid and eSilex gravel bike. All three ebikes are powered by the Mahle ebikemotion X35+ rear hub electric motor.
- In August 2020, Shimano introduces its most advanced e-bike system for mountain bikes, Shimano STEPS DU- E8000 based on the new STEPS EP8 motor platform, e-tube project technology comprehensively enhanced the riding experience
- In July 2020, Yamaha Bicycles announced launching of the new Civante Class 3 electric power assist bicycle expanding its lineup of fitness-focused road bikes. The Civante gets its power assist from Yamaha’s PWSeries SE motor, which delivers the purest, smoothest and most natural e-Bike assist with Yamaha’s Triple Sensor System. Utilizing frictionless sensors, the system measures pedal-torque, bicycle speed and crank arm cadence, and then delivers just the right amount of assist based on changing terrain and riding situations.
- In October 2019, Giant unveiled the new Revolt E+ Pro, a versatile drop-bar e-bike that’s designed for variable terrain, including roads, gravel, and dirt. This new e-bike features a smooth-riding ALUXX SL aluminum frame and new motor technologies that allow riders to go longer distances on a single charge. The Revolt E+ Pro is a great choice for riding city streets, bumpy backroads, or long-distance routes on unpredictable terrain.
- In November 2019, Merida Industry Co. Ltd. launched new eBIG.TOUR and eBIG.NINE e-bikes, with an extensive list of new and improved features in comparison to its predecessor. As part of the Merida performance e-mountain bike family, it is designed as a real e-mountain bike, while incorporating some selected attributes from the Merida e-trekking category.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Technology Trend
4.5 Government Regulations, Incentives, and Manufacturing Standards
4.6 Market Perspective
4.6.1 Component Supplier (Battery, Motor, etc.)
4.6.2 Bicycle Manufacturer
4.6.3 Consumers
4.7 Pricing Analysis
5. MARKET SEGMENTATION
5.1 Propulsion Type
5.1.1 Pedal Assisted
5.1.2 Throttle-assisted (Power-on-demand)
5.2 By Application
5.2.1 City/Urban
5.2.2 Trekking (E-mountain Bikes/e-MTB)
5.2.3 Cargo
5.3 By Battery Type
5.3.1 Lithium-ion Battery
5.3.2 Lead-acid Battery
5.4 By Power
5.4.1 Less than and Equal to 250W
5.4.2 Above 250W
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 South Korea
5.5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 E-bike Manufacturers
6.2.1.1 Giant Bicycles Co. Ltd
6.2.1.2 Merida Industry Co. Ltd
6.2.1.3 Riese & Muller
6.2.1.4 Fritzmeier Systems GmbH & Co. KG (M1 Sporttechnik)
6.2.1.5 Yamaha Bicycles
6.2.1.6 Trek Bikes
6.2.1.7 Cannondale Bicycle Corporation
6.2.1.8 Kalkhoff
6.2.1.9 VanMoof BV
6.2.1.10 Coboc
6.2.1.11 Ampler Bikes
6.2.1.12 Cowboy
6.2.1.13 Desiknio
6.2.1.14 Tron X-Motors
6.2.2 Component Suppliers
6.2.2.1 Brose Fahrzeugteile GmbH & Co. KG
6.2.2.2 BMZ GmbH
6.2.2.3 Panasonic Corporation
6.2.2.4 Samsung SDI Co. Ltd
6.2.2.5 LG Chem
6.2.2.6 Robert Bosch GmbH
6.2.2.7 Shimano Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. SUPPLIER INFORMATION
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Frequently Asked Questions
What is the study period of this market?
The E Bike Market market is studied from 2018 - 2026.
What is the growth rate of E Bike Market?
The E Bike Market is growing at a CAGR of 12.27% over the next 5 years.
What is E Bike Market size in 2018?
The E Bike Market is valued at 24 Billion USD in 2018.
What is E Bike Market size in 2026?
The E Bike Market is valued at 47 Billion USD in 2026.
Which region has highest growth rate in E Bike Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in E Bike Market?
Asia Pacific holds highest share in 2020.
Who are the key players in E Bike Market?
Giant Bicycles, Merida Industry Co. Ltd, Fritzmeier Systems GmbH & Co. Kg (M1 Sporttechnik), Riese & Muller GmbH, Yamaha Bicycles are the major companies operating in E Bike Market.
