Global E-mountain Bike Market
The global e-mountain bike market is expected to grow at fast pace during the forecast period, owing to growing focus and demand for recreational activities among consumers. Some of the major factors driving the growth of the market are growing interests in recreational activities and electric mountain bikes acting as an alternative for the vehicles. However, factors, such as government regulations regarding speed and safety issues associated with these bikes, may hinder the growth of the market.
E-mountain bike are the fastest-growing e-bike market segment. In 2016 the share of e-MTBs in e-bike sales was around 15%. The e-mountain bike or sporting e-bike are majorly bought by the younger group of generation. The growing interest of people toward sporting bike is projected to increase the demand for e-mountain bikes, due to which the sales of the conventional mountain bike will at stake over the forecast period.
At present Europe is leading the e-mountain bike market. For 2017 the German Bicycle Industry Association (ZIV) forecasts national sales totaling 680,000 e-bikes. That is a year-on-year increase of about 12%. E-bike sales across Europe totaled 1,667,000 in 2016, according to the industry association CONEBI.
Factors Driving the growth of the Market
- Over the years, the sales of e-bike have increased rapidly, due to the rise in fuel costs, which in turn has led to the growth of the implementation of electric bicycles as a daily means of transport.
- The e-mountain bikes are gaining huge traction in the global bicycle industry, primarily because of the growing interest in cycling and recreational activities among young people. Apart from the aforementioned, some of the other trends that are boosting the demand for eMTB are as follows-
- Sports and physical activity are becoming more adaptable through the electric motor.
- Long rides over the hills are becoming easier, and steep terrain can be conquered with much less effort.
- Longer distances can be achieved with the same amount of effort as that on flat ground - all of this is attracting even keen mountain bikers to the E-MTB.
- Switzerland is considered one of the best trekking places.
- In 2017, approximately 90,000 e-bikes were snapped up by riders looking for battery-powered assistance, according to the Swiss Bicycle Suppliers’ Association.
- The highest rise was in the eMTB category with around 29,000 put to use on trails, an increase of 38.3%, when compared to 2016.
- All-terrain and cyclo-cross bike sales decreased, while demand for racing bikes stagnated. Specialty bikes like tandems or cargo bicycles also fell sharply by 20.4%.
- eMTB motor manufacturer Bosch conducted a survey with more than 5,421 people in six European countries in mid-2017. As per the results of the survey, 10% of the participants already owned a pedelec and 16% were looking into buying one in the coming year.
- The study revealed that e-city bikes dominated the market with the highest share of 29%, followed by e-trekking bikes (11%), e-urban bikes (9%), and e-mountain bikes (8%). This survey indicates that people are gradually opting for an e-mountain bike over the conventional mountain bike.
Germany – Leading the Market
E-bikes are again setting trends in the industry as there is a great demand for lighter and smaller bikes with more performance. The sale figures showcase that e-bikes are becoming popular among recreational cyclists who prefer to enjoy longer rides without getting exhausted when they are going for trekking.
Electric mountain bikes accounted for 21.5% of the e-bikes in the country in 2017. Currently, in the country, e-city, and e-trekking bike categories hold larger share in the e-bike market, however, mountain bikes are now gaining more demand, owing to rising focus toward recreational activities.
Apart from the recreational activities, their demand is also increasing among families as they are looking for a modern alternative to buying a second car. Additionally, electric mountain bikes professional races are gaining popularity in numerous countries across the world.
As a result, Bosch after a successful debut of eMTB challenge in 2017, conducted its eMTB challenge in five European locations, including Germany on June 20, 2018; in turn boosting the demand for high-end electric mountain bikes Thus, all the aforementioned developments are expected to propel the growth of the market in the country.
Key Industry Players: Some of the major companies includes Yamaha Motor, Pedego Electric Bikes, BH Bikes, and CUBE among others.
- February 2018 – After a successful debut of eMTB challenge in 2017, Robert Bosch again conducted eMTB challenge this year in five European locations (Italy, Germany, France, Switzerland, and Austria), with the last challenge conducted in France on 23rd September 2018
Base Year for Estimation
2018 – 2023
Revenue in USD million and CAGR from 2018 – 2023
North America, Europe, Asia-Pacific, and Rest of the World
Revenue forecast, market share analysis, and market dynamics
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- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis
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- Country that is expected to witness fastest growth during the forecast period
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1.1 Scope of the Market
1.3 Executive Summary
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. MARKET OVERVIEW
3.1 Current Market Scenario
3.2 Technology Trends
3.3 Industry Attractiveness – Porter’s Five Forces Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Buyers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry Within the Industry
4. MARKET DYNAMICS
5. MARKET SEGMENTATION AND ANALYSIS – BY APPLICATION (MARKET SIZE, GROWTH, AND FORECAST)
6. REGIONAL MARKET ANALYSIS (MARKET SIZE, GROWTH, AND FORECAST)
6.1 North America
6.1.1 United States
6.1.3 Rest of North America
6.2.2 United Kingdom
6.2.4 Rest of Europe
6.3.4 Rest of Asia-Pacific
6.4 Rest of the World
6.4.1 South America
6.4.2 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.2 Market Share Analysis**
8. COMPANY PROFILES
8.1 Giant Bicycles
8.2 Pivot Cycles
8.3 SCOTT Sports
8.4 Trek Bicycle Corporation
8.7 Yamaha Motor
8.8 Pedego Electric Bikes
8.9 BH Bikes
*List is not exhaustive
**Subject to Availability on Public Domain