Market Overview
| Study Period | 2019 - 2031 |
|---|---|
| Forecast Data Period | 2026 - 2031 |
| Base Year Market Size (2025) | USD 1.16 Billion |
| Market Size (2026) | USD 1.21 Billion |
| Market Size (2031) | USD 1.46 Billion |
| Growth Rate (2026 - 2031) | 3.83% CAGR |
| Market Concentration | Medium |
Major Players *Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. | |
Europe E-Cargo Bike Market Analysis by Mordor Intelligence
The European e-cargo bike market was valued at USD 1.16 billion in 2025, is estimated at USD 1.21 billion in 2026, and is projected to reach USD 1.46 billion by 2031, at a CAGR of 3.83% during the forecast period (2026-2031). Western Europe’s mature cycling infrastructure, expanding zero-emission zones, and corporate ESG targets anchor present demand, while falling battery costs and mid-drive motor efficiency support future adoption. Municipal bans on combustion vans inside several urban cores compress delivery windows for diesel vehicles and incentivize fleet operators to deploy pedal-assist cargo platforms that negotiate narrow streets quickly. Subsidies in Germany and Italy further narrow the payback gap, and parcel carriers report a notable drop in last-mile costs when city-center parcels shift from vans to bikes. Stricter procurement policies by DHL, UPS, and city governments underwrite a steady flow of multi-unit orders, even as supply-side competition among specialist brands keeps average selling prices in check.
Key Report Takeaways
- By propulsion type, pedal-assist systems commanded a 92.15% share of the European e-cargo bike market size in 2025, and throttle-assist models are advancing at a 4.81% CAGR through 2031.
- By battery type, lithium-ion commanded a 91.21% share of the European e-cargo bike market size in 2025, and is advancing at a 4.45% CAGR through 2031.
- By motor placement, hub models commanded a 57.03% share of the European e-cargo bike market size in 2025, while the mid-drive segment is advancing at a 6.12% CAGR through 2031.
- By drive systems, chain drive commanded a 68.13% share of the European e-cargo bike market size in 2025, while belt drive is advancing at a 5.02% CAGR through 2031.
- By motor power, the below 250-watt model captured 63.45% of the European e-cargo bike market share in 2025, whereas the 351-500 watt class is the fastest-growing segment at 6.58% CAGR through 2031.
- By price band, models within the USD 1,500-2,499 range commanded a 33.25% share in 2025, while the USD 2,500-3,499 range will grow at a 5.81% CAGR.
- By sales channel, offline sales accounted for a 74.12% share in 2025, while the online model is set to expand at a 7.58% CAGR.
- By end use, commercial delivery accounted for a 56.18% share of the European e-cargo bike market size in 2025, and service providers are growing fastest at 6.94% CAGR to 2031.
- By geography, Western Europe led with 71.23% of the European e-cargo bike market share in 2025, while Southern Europe is forecast to expand at a 5.38% 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.
Europe E-Cargo Bike Market Trends and Insights
Drivers Impact Analysis*
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Zero-Emission Mandates | +1.2% | Western Europe, spreading to Southern Europe | Medium term (2-4 years) |
| Subsidies for Commercial Fleets | +0.9% | Western, Southern, and selective Eastern Europe | Short term (≤ 2 years) |
| Drop in Battery USD/kWh | +0.8% | Global, strongest in Western and Northern Europe | Medium term (2-4 years) |
| Micro-Fulfillment Network Growth | +0.7% | Western Europe's core, expanding south | Long term (≥ 4 years) |
| Corporate ESG Procurement Targets | +0.5% | Western and Northern Europe | Medium term (2-4 years) |
| Incentives for Low-Speed EVs | +0.3% | Western and Northern Europe | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Urban-Logistics Zero-Emission Mandates
More than 30 European cities now restrict or fine diesel vans, effectively pushing operators toward pedal-assist cargo bikes that avoid congestion charges and parking fines [1]“ZEZ Implementation Plan,” City of Amsterdam, amsterdam.nl. Amsterdam's 2025 roll-out, Paris' ban on pre-2011 diesels, and London's ULEZ expansion have each led to pilot fleets that significantly reduced van kilometers in inner-city rings. With the EU Urban Mobility Framework indicating a wider alignment, logistics firms are now viewing e-cargo bikes as essential for compliance rather than mere experiments. Fleet managers report notable improvements in drop density, as bikes can park curb-side without the need to circle for space, thus reducing labor time per parcel. This combination of regulatory measures and operational efficiencies establishes a solid demand foundation through 2031.
Subsidies for Commercial E-Cargo Fleets
Cash incentives are reducing upfront prices and speeding up payback periods. Italy's 2024 ecobonus offers significant support per unit, while Germany provides notable reimbursements [2]“Ecobonus Two-Wheelers 2024,” Italian Ministry of Economic Development, mimit.gov.it. The Netherlands, though offering smaller amounts, allows these to be combined with municipal bonuses. These programs often deplete their budgets quickly, highlighting a demand that outstrips fiscal forecasts. France has redirected national funds towards electric vehicles, but major cities are stepping in with local assistance, necessitating procurement teams to navigate this complex landscape. Even with the administrative challenges, these incentives are reducing amortization periods for frequently used fleets, swaying boardroom decisions towards bike adoption.
Rapid Drop in Battery USD/KWH Below EUR 100
In 2024, lithium-ion pack prices declined, with projections indicating further reductions by 2026. This trend is primarily driven by the cost-effective LFP chemistry, which is more affordable than NMC. Consequently, a 750 Wh pack is expected to become significantly cheaper, reducing its premium over traditional non-electric cargo bikes and improving ROI. While European brands continue to face higher costs for domestically sourced cells, the durability advantage of LFP justifies the higher upfront costs in total-cost models. Furthermore, Tier-1 suppliers like Bosch have already integrated LFP into their newly launched PowerTube 750 in 2024, cementing the chemistry's position in mainstream platforms.
Dense Micro-Fulfillment Network Growth
Parcel giants are setting up city-center micro-hubs to support e-cargo bikes for the final stage of delivery. DHL operates several depots across Western Europe, with each depot facilitating daily deliveries by bike. Meanwhile, UPS has introduced container-based “eBike Hubs” in cities like London, Paris, and Hamburg. These micro-hubs not only reduce van mileage but also decrease the chances of failed delivery attempts, as couriers can reach doorsteps more swiftly. Additionally, by utilizing parking bays instead of warehouses, operators see a drop in real estate costs. With the model now being adopted in Milan and Barcelona, the potential parcel pool for these bikes is witnessing significant growth.
Restraints Impact Analysis*
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Limited On-Street Charging | −0.6% | Southern and Eastern Europe, parts of Western Europe | Medium term (2-4 years) |
| Payload and Range Trade-Offs | −0.5% | Peri-urban zones across all regions | Long term (≥ 4 years) |
| Fragmented Component Standards | −0.3% | Global, strongest in Western Europe | Medium term (2-4 years) |
| Skilled Mechanic Shortage | −0.2% | Western and Northern Europe | Short term (≤ 2 years) |
| Source: Mordor Intelligence | |||
Limited Secure On-Street Charging
In Amsterdam, only a limited number of public bike chargers accommodate cargo frames, while Milan lacks any such facilities, leading to depot-only recharging and limiting daily range. Battery theft, with packs being highly valuable, discourages overnight street parking, making multi-shift operations difficult outside the Netherlands and Denmark. While solar-powered hubs in Copenhagen hold potential, they currently meet only a small portion of fleet demand, highlighting a medium-term infrastructure gap that hampers utilization rates.
Payload and Range Trade-Offs Versus Vans
Cargo bikes can carry significant loads and travel considerable distances on a single charge, though their capacity and range are notably lower compared to electric vans. In hilly cities like Lisbon, the range of these bikes is significantly reduced. Similarly, the cold winters of the Nordic region can further impact their performance. As a result, fleets often need to adjust their operations by reducing loads or investing in dual batteries. While oversized parcels and pallet freight remain the domain of vans, the use of bikes is primarily limited to densely populated urban areas with high delivery density.
*Our forecasts treat driver/restraint impacts as directional, not additive. The impact forecasts reflect baseline growth, mix effects, and variable interactions.
Segment Analysis
By Propulsion Type: Pedal-Assist Holds Regulatory Advantage
Pedal-assist bikes captured 92.15% of 2025 sales after EU Regulation 168/2013 exempted sub-250-watt systems from registration[3]“Regulation 168/2013,” EUR-Lex, eur-lex.europa.eu. Throttle-assist platforms grow from a small base as logistics operators in Stuttgart and Munich accept L1e-A registration to unlock 351-500 watt motors that climb 6% grades without rider fatigue, and it is registering a growth rate of 4.81% during the forecast period. While compliance adds high costs in annual fees, the throughput gains on hilly routes justify the shift for specific niches.
Regulations therefore lock in a two-tier structure: mainstream fleets favor pedal-assist to avoid red tape, while specialized users trade bureaucracy for power. This dynamic keeps pedal-assist dominant but allows a stable, profitable pocket for L1e-A suppliers, widening product variety within the European e-cargo bike market.
By Battery Type: Lithium-Ion Rules, LFP Gains Ground
Lithium-ion commanded a 91.21% share in 2025 and remains the anchor chemistry, growing at a 4.45% CAGR. By 2031, the market for e-cargo bikes in Europe, particularly those utilizing LFP batteries, is projected to grow steadily. Despite LFP packs being heavier than their NMC counterparts, their lower cell prices and impressive durability have secured them fleet tenders. Meanwhile, lead-acid batteries are still found in models priced at the lower end, predominantly sold in Poland and Hungary.
Commercial sales now see dual-battery configurations gaining traction, enabling long-haul couriers to achieve extended ranges without the need for mid-shift charging. Removable batteries dominate the market due to their ability to mitigate theft risks through indoor charging. However, integrated tubes are becoming popular in premium models, where fleets are willing to compromise on depot-only charging for enhanced water sealing.
By Motor Placement: Mid-Drive Ascends the Premium Ladder
Hub units held a 57.03% share in 2025, yet mid-drive systems are growing 6.12% annually as fleet buyers chase torque and efficiency. Mid-drive systems gained significant traction in the European e-cargo bike market in 2025 and are expected to achieve equal footing with hub systems by 2029. Brands like Riese & Müller emphasize the enhanced range on hilly terrain when using Bosch Cargo Line motors. The long-term battery savings justify the initial premium cost at purchase.
Price-sensitive couriers in Eastern Europe continue to prefer rear hubs, especially on flat terrain, while municipalities in Western Europe increasingly prioritize mid-drive systems in public tenders. As battery prices continue to decline, operators are focusing more on reliability and torque, driving the adoption of mid-drive systems.
By Drive Systems: Chain Dominance, Belt Premiumization
Chains still hold a 68.13% share because replacement costs remain low, but belt drives are growing 5.02% per year. Fleet spreadsheets reveal that belt systems are reducing downtime and minimizing grease-related cleanups, leading to significant labor savings annually. Forecasts predict that the European e-cargo bike market, particularly those equipped with belt drives, will grow substantially by 2031. This surge is largely attributed to northern cities, grappling with winter salt issues, leaning towards corrosion-resistant carbon belts.
Due to frame split requirements, retrofitting poses challenges, resulting in belt adoption being predominantly seen in new premium models. Furthermore, with leasing options distributing belt maintenance costs across monthly fees, even mid-range operators in Denmark and Sweden are increasingly opting for belt-drive configurations, especially when contracts extend beyond four years.
By Motor Power: Sub-250 W Leads, 351-500 W Surges
Motors below 250 W remain 63.45% of shipments because they sidestep licensing. Yet the 351-500 W class grows at a 6.58% CAGR as municipal fleets and parcel firms in hilly cities trade paperwork for torque. The Europe e-cargo bike market size for 351-500 W bikes is set to expand significantly by 2031.
Operators view 501-600 W as a compromise category, but anything above 600 W stays niche due to helmet rules and plate registration. Regulatory reform is unlikely before 2031, so the power hierarchy should persist, with incremental software tweaks squeezing more peak torque from legal 250-W shells.
By Price Band: Mid-Range Dominates, Premium Picks Up Pace
Models priced at USD 1,500-2,499 made up 33.25% of 2025 units, reflecting value-hungry SMEs and private buyers. Fleet buyers, however, drift into the USD 2,500-3,499 bracket, now the fastest-growing slice at 5.81% CAGR. Europe e-cargo bike market size for this band will rise in tandem with leasing, which spreads premium CAPEX over 36-48 months.
The USD 3,500-5,999 tier already appeals to municipalities and large logistics firms who value mid-drive torque, dual batteries, and telematics. Above USD 6,000 remains a small but rising niche for modular frames and automotive-grade build quality demanded by public tenders.
By Sales Channel: Offline Still Majority, Online Accelerates
Specialty retailers and fleet reps (offline model) closed 74.12% of 2025 sales, yet the digital share is expanding 7.58% annually. Rad Power Bikes, a pioneer in the direct-to-consumer model, has cut dealer margins and set competitive price points, enabling online sales to capture a significant share of the entry-level market.
High-touch consultation still anchors premium offline sales because spec’ing mid-drive torque curves and cargo-box volumes demands expertise. However, hybrid models—factory online ordering with local service partners—are blurring the channel divide and nudging even upscale buyers toward digital checkout.
By End Use: Commercial Delivery Dominates, Services Ramp Up
Parcel carriers, utilizing micro-hubs to reduce van kilometers, accounted for 56.18% of the commercial delivery demand share in 2025. This approach has proven effective in optimizing delivery operations and minimizing environmental impact. On the other hand, service providers—including public works, healthcare, and mobile repair—have emerged as a significant growth driver, recording a robust 6.94% CAGR. This growth is largely supported by the implementation of zero-emission procurement policies in key cities such as Copenhagen, Berlin, and Stockholm, which are encouraging the adoption of sustainable delivery solutions.
Looking ahead, Europe's e-cargo bike market for service applications is projected to achieve a notable market share by 2031. Municipalities are increasingly replacing diesel vans with e-cargo trikes, which are being adapted for various purposes, including waste management, street cleaning, and nursing visits. This shift not only aligns with environmental goals but also enhances operational efficiency in urban areas. The growing emphasis on sustainability and regulatory support is expected to further drive the adoption of e-cargo bikes across the region.
Geography Analysis
Western Europe is the epicenter with 71.23% 2025 share and remains the volume anchor as the Netherlands, Germany, France, and the United Kingdom institutionalize cycling lanes and enforce low-emission zones. Dutch fleets pivot fastest because the nationwide ZEZ-F empowers several cities to fine or ban diesel vans. German incentives accelerate uptake, but sporadic budget depletion injects volatility into quarterly volumes.
Southern Europe posts the swiftest growth at 5.38% CAGR from a low base. Italy and Spain widen protected lane networks in 2024-2025, while rebates cut payback periods below four years. Infrastructure still trails Northern peers, yet densifying cores in Milan and Barcelona foster high drop densities ideal for e-cargo models.
Northern Europe adds steady growth, supported by Denmark’s 500-km lane labyrinth and Sweden’s lane expansion. Range degradation at sub-zero temperatures drives dual-battery adoption, so average ASPs skew 15-20% higher than continental peers. Eastern Europe grows at a modest level as Warsaw and Krakow pilot EU-funded fleets, but purchasing power restricts orders to hub-motor, chain-drive basics. Switzerland shadows Western Europe with strict urban emissions rules in Zurich and Geneva.
Competitive Landscape
Five manufacturers—Pon Holdings (Urban Arrow), Riese & Müller, Accell Group, Rad Power Bikes, and Tern—dominate shipments, rendering the European e-cargo bike market moderately fragmented. Pon, harnessing Urban Arrow’s vertically integrated frames and Bosch mid-drives, clinches contracts with giants like DHL and UPS, showcasing the power of scale and brand in the B2B arena. Riese & Müller carves out a niche with its belt drives and 5-year warranties, branding itself as the go-to for municipal buyers focused on total cost. Disruptors such as Rad Power Bikes, selling directly to consumers, slash dealer-network prices by 20-30%, fueling the rise of online sales.
Component titans Bosch, Shimano, and Brose vie for OEM dominance, offering higher-torque mid-drives and integrated telematics. Gates leads in belt drives, while Bafang specializes in high-power niches exceeding 600 W. Leasing experts Lease a Bike and Company Bike enhance their offerings with bundled insurance and maintenance, easing access for SMEs and swaying brand preference towards models with readily available parts. These leasing models are increasingly lowering barriers for businesses, making e-cargo bikes more accessible and practical for small and medium enterprises.
Recent patent filings indicate a strategic shift towards software innovations—encompassing predictive range, fleet analytics, and anti-theft geo-fencing—hinting that data-centric features will define the industry's competitive landscape. These advancements, combined with the growing adoption of leasing models, are further driving market growth. As the market evolves, the integration of hardware and software is expected to play a pivotal role in shaping competitive strategies and consumer preferences, solidifying the importance of technological innovation in the e-cargo bike market.
Europe E-Cargo Bike Industry Leaders
Accell Group
Pon Holdings B.V. (incl. Urban Arrow)
Riese & Müller GmbH
Rad Power Bikes Inc.
Tern Bicycles
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- July 2026: Taiwan-based Tern launched its latest-generation HSD electric cargo bike in Europe and North America. The new premium cargo bike features significant upgrades over the previous-generation model, including Bosch’s latest fifth-generation smart system motor, a Gates belt drive, a longer wheelbase, and a newly designed frame.
- June 2026: Riese & Müller will introduce product updates for the 2027 model year in the everyday mobility and cargo segments. The Load series will, for the first time, feature a Pinion drive system as the Load5 60/75 Pinion (HS), offering a low-maintenance, durable drive solution for frequent riders.
- June 2026: French e-bike brand Galian expanded its cargo bike lineup with a new front-loader design. The model features a longtail with collapsible sidebars, allowing an adult to board easily while retaining quickly deployable protective sidebars for carrying up to two children.
- May 2026: Estarli officially unveiled the all-new E-Cargo Longtail 2.0, introducing significant upgrades to one of the United Kingdom’s most prominent electric cargo bikes. Designed and manufactured in Hertfordshire, the Longtail 2.0 builds on the success of the original model by offering greater carrying capacity, improved usability, and a broad range of family- and utility-focused enhancements.
Europe E-Cargo Bike Market Report Scope
The scope includes segmentation by propulsion type (pedal assisted and throttle assisted), battery type (lead acid, lithium-ion, and others), motor placement (hub and mid-drive), drive systems (chain drive and belt drive), motor power (below 250 W, 251-350 W, 351-500 W, 501-600 W, and above 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, service providers, and others). The analysis also covers regional-level segmentation, including Western, Southern, Northern, Eastern Europe, Switzerland, and the rest of Europe. Market size and growth forecasts are presented in terms of value in USD and by volume in units.
By Propulsion Type
| Pedal Assisted |
| Throttle Assisted |
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
| Below 250 W |
| 251-350 W |
| 351-500 W |
| 501-600 W |
| Above 600 W |
By 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 |
| Above USD 6,000 |
By Sales Channel
| Online |
| Offline |
By End Use
| Commercial Delivery | Retail and Goods Delivery |
| Food and Beverage Delivery | |
| Service Providers | |
| Others |
By Geography
| Western Europe | Germany |
| France | |
| United Kingdom | |
| Netherlands | |
| Belgium | |
| Luxembourg | |
| Southern Europe | Italy |
| Spain | |
| Portugal | |
| Greece | |
| Northern Europe | Denmark |
| Sweden | |
| Norway | |
| Finland | |
| Eastern Europe | Poland |
| Czech Republic | |
| Hungary | |
| Slovakia | |
| Switzerland | |
| Rest of Europe |
| By Propulsion Type | Pedal Assisted | |
| Throttle Assisted | ||
| 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 | Below 250 W | |
| 251-350 W | ||
| 351-500 W | ||
| 501-600 W | ||
| Above 600 W | ||
| By 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 | ||
| Above USD 6,000 | ||
| By Sales Channel | Online | |
| Offline | ||
| By End Use | Commercial Delivery | Retail and Goods Delivery |
| Food and Beverage Delivery | ||
| Service Providers | ||
| Others | ||
| By Geography | Western Europe | Germany |
| France | ||
| United Kingdom | ||
| Netherlands | ||
| Belgium | ||
| Luxembourg | ||
| Southern Europe | Italy | |
| Spain | ||
| Portugal | ||
| Greece | ||
| Northern Europe | Denmark | |
| Sweden | ||
| Norway | ||
| Finland | ||
| Eastern Europe | Poland | |
| Czech Republic | ||
| Hungary | ||
| Slovakia | ||
| Switzerland | ||
| Rest of Europe | ||
Market Definition
- By Application Type - Cargo e-bikes are considered under the scope of this segment. 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
- 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
