|Fastest Growing Market:||Asia-Pacific|
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The e-bike motor market was valued at around USD 2.5 billion in 2021, and it is expected to reach USD 3.2 billion by 2027, registering a CAGR of about 4.2% during the forecast period (2022 – 2027).
The market was positively impacted by the COVID-19 pandemic. E-bikes had been a more significant transportation service during the COVID-19 pandemic. After an initial fall in e-bike sales during lockdowns, the demand for e-bikes witnessed a significant increase in the later half of 2020. Also, in 2021, the demand for e-bikes continued to see growth, which fueled the demand for e-bike motors.
Over the medium term, apart from growing customer preference toward adventure and recreational activities, the expansion of e-bike applications in various sectors, such as e-bike rental services and logistics, is anticipated to fuel the demand for e-bike motors over the forecast period. As cities across the world arise from lockdowns, the demand for e-bikes has been growing, owing to their low cost of operations and convenience. Also, with the continually growing environmental and health concerns due to the increasing emission levels, governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels. Furthermore, the development of high-performance e-bikes is anticipated to help drive the demand for e-bike motors significantly over the forecast period.
Scope of the Report
The e-bike motor market is segmented by motor type (mid-drive, direct-drive hub motor, geared hub motor, and friction motor), e-bike type (urban, e-mountain/E-MTB, and e-cargo), and capacity/output (below 250W, 250W- 500W, and 500W and above), The report also covers the market sizes and forecasts in 17 countries across the major regions. For each segment, market sizing and forecasts have been done based on value (USD billion).
|Direct Drive Hub Motor|
|Geared Hub Motor|
|500W and Above|
Key Market Trends
Increasing Demand for E-bikes in Emerging Economies
The demand for e-bikes in developing nations is consistently increasing primarily due to the rising government support in terms of tax exemption, subsidies, etc. For instance, in India, under the FAME II scheme, the government gives a subsidy of INR 15,000 per kWh for electric two-wheelers. Further, the Japanese government, in a supplementary budget of 2021, has provided a total of JPY 37.5 billion (USD 317 million) for e-mobility. The rising disposable income of individuals in developing countries is expected to remain a prominent factor in the rising adoption of e-bikes during the forecast period.
China is the leader in the global market for e-bike components and e-bikes, and the manufacturers in the market are constantly investing in production and R&D capabilities to stay ahead of the competition. The COVID-19 pandemic has led to a sharp rise in the demand for electric bikes in China. The mobility as a service or MaaS concept is gaining traction in China, and bike-sharing players like Meituan’s Mobike have already put several electric bikes on roads to cater to the increasing demand.
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Asia-Pacific and Europe are Expected to Witness Higher Growth during the Forecast Period
The Asia-Pacific region is expected to be the market leader, and it is anticipated to remain dominant in the coming years. China is expected to experience a higher growth rate in the market due to the huge sales of e-bikes. Furthermore, India, South Korea, and Japan are also anticipated to grow significantly during the forecast period. For instance, according to Statista, sales of e-bikes in China were 15.83 million in 2020. Some of the key factors propelling the growth of the market are the growing awareness of eco-friendly transportation choices like e-bikes and cycles to work and schemes provided by governments for the acquisition of e-bikes. Furthermore, the country has a lively retired population that enjoys travel by camper vans and e-bikes.
The European region is projected to play a prominent role in the market, and it was dominated by Germany, followed by France and Italy. The major factors fuelling the sales of e-bikes are the use of high-quality materials, fully integrated batteries and drives, appealing designs, and innovative product offerings from players.
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The e-bike motor market is dominated by various international and regional players such as TDCM Corporation Limited, Robert Bosch GmbH, Suzhou Xiongda Motor Co. Ltd, Yamaha Motor Co. Ltd, Dapu Motors, Suzhou Bafang Electric Motor Science-Technology Co. Ltd, Panasonic Corporation of North America, TRANZX, Shimano Inc., NIDEC CORPORATION, and SPORTTECH Handels GmbH. To have an edge over competitors, the major automotive e-bike motor companies are launching innovative products.
- In June 2021, Shimano Inc. introduced “SHIMANO CONNECT Lab”, a new web service. This will help all Shimano cyclist customers to manage and analyze data. SHIMANO CONNECT Lab allows several map displays and graph displays to the cloud linked to SHIMANO ID by uploading riding data.
- In September 2020, Shimano Inc. launched a new drive unit in its e-bike power unit sector - EP8 drive unit (DU-EP800). This electric motor is more compact, quieter, lighter, and has increased range, which further aids the complete bicycle design, with a more natural ride feel and refined power delivery.
- In January 2022, Panasonic Corporation of North America’s division Panasonic Automotive Systems Company of America announced a collaboration with Totem USA. This collaboration will bring Totem’s first UL-certified e-bike to the US market. The Totem USA e-bike “Zen Rider” powered by Panasonic delivers customers with a family-friendly, affordable option to fulfill the rising demand in the e-bike market.
- In December 2021, Nidec Corporation announced that Yadea Group Holdings Ltd, China’s largest e-bike manufacturer, adopted Nidec’s in-wheel motor for its motorcycles. The in-wheel motor features the top-level torque properties, with a high-speed torque of 5% and low-speed torque of 18%, better than other companies’ motors in the similar category.
- In September 2021, Suzhou Bafang Electric Motor Science-Technology Co. Ltd launched a new electric bicycle drive system- H700 with a torque sensor and 2-speed automatic shifting. This motor with 3.2 kg (7 lb) houses a dual-speed transmission with automatic shifting. When riders involve the drive, the bike measures the present speed and shifts consequently to regulate the motor output. The extra torque is offered in the lower gear, which is helpful for hill climbing and acceleration. Furthermore, when riders are moving faster, the advanced gear is automatically selected to deliver more speed.
Table of Contents
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 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
5. MARKET SEGMENTATION
5.1 Motor Type
5.1.2 Direct Drive Hub Motor
5.1.3 Geared Hub Motor
5.1.4 Friction Motor
5.2 E-bike Type
5.3.1 Below 250W
5.3.2 250W- 500W
5.3.3 500W and Above
5.4.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Rest of the World
220.127.116.11 South America
18.104.22.168 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 TDCM Corporation Limited
6.2.2 Robert Bosch GmbH
6.2.3 Suzhou Xiongda Motor Co. Ltd
6.2.4 Yamaha Motor Co. Ltd
6.2.5 Dapu Motors
6.2.6 Suzhou Bafang Electric Motor Science-Technology Co. Ltd
6.2.7 Panasonic Corporation of North America
6.2.9 Shimano Inc.
6.2.10 NIDEC CORPORATION
6.2.11 SPORTTECH Handels GmbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The E-bike Motor Market market is studied from 2018 - 2027.
What is the growth rate of E-bike Motor Market?
The E-bike Motor Market is growing at a CAGR of >4.2% over the next 5 years.
What is E-bike Motor Market size in 2018?
The E-bike Motor Market is valued at 2 Billion USD in 2018.
What is E-bike Motor Market size in 2027?
The E-bike Motor Market is valued at 3 Billion USD in 2027.
Which region has highest growth rate in E-bike Motor Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in E-bike Motor Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in E-bike Motor Market?
TDCM Corporation Limited, Robert Bosch GmbH, Yamaha Motor Co., Ltd, Panasonic Corporation of North America, Shimano Inc are the major companies operating in E-bike Motor Market.