Mexico E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 6.07 Million |
|
|
Market Size (2029) | USD 7.50 Million |
|
Largest Share by Propulsion Type | Pedal Assisted |
|
|
CAGR (2024 - 2029) | 4.32 % |
|
|
Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
Mexico E-bike Market Analysis
The Mexico E-bike Market size is estimated at 6.07 million USD in 2024, and is expected to reach 7.50 million USD by 2029, growing at a CAGR of 4.32% during the forecast period (2024-2029).
6.07 Million
Market Size in 2024 (USD)
7.50 Million
Market Size in 2029 (USD)
5.72 %
CAGR (2017-2023)
4.32 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
87.04 %
value share, Pedal Assisted, 2023
The integration of pedal-assisted e-bikes in bike-sharing systems by operators and the preference for such bikes by customers due to the non-requirement of a driving license benefitted the growth of the pedal-assisted e-bike segment in the Mexican e-bike market.
Largest Segment by Application Type
79.65 %
value share, City/Urban, 2023
After the COVID-19 pandemic, commuters were hesitant to travel using public transportation, which created a favorable condition for the city/urban e-bike segment as city/urban e-bikes are the cheapest means of personal transport.
Largest Segment by Battery Type
82.83 %
value share, Lithium-ion Battery, 2023
Li-ion batteries have a greater life span (more than 2,000 charge cycles) compared to sealed lead-acid batteries (maximum of 400 charges). Li-ion batteries allow fast charging (2-3 hours) compared to sealed lead-acid batteries (7-8 hours).
Fastest-growing Segment by Propulsion Type
13.71 %
Projected CAGR, Speed Pedelec, 2024-2029
The improving e-bike infrastructure in major cities in the country and the increasing demand for mountain bikes are expected to give rise to the sales of speed pedelec e-bikes during the forecast period.
Leading Market Player
16.70 %
market share, Bicicletas Mercurio SA De CV, 2022
Mexico electric bike market was highly fragmented in nature in 2022. Bicicletas Mercurio SA De CV and Trek Bicycles witnessed increase in sales of electric bikes by significant rate in 2022.
PROPULSION SEGMENT MARKET OVERVIEW
- Mexico is one of the first countries in North America to embrace the e-bike culture. In 2019, Mexico had 340 pedal-assisted bicycles and 28 new stations, accounting for 5% of the overall fleet. The function of a speed pedelec is similar to a standard e-bike pedelec, where turning the pedals activates the electric help. These bicycles have recently gained popularity in Mexico due to their increased feasibility and features. Throttle-assisted e-bikes are utilized in mountainous and difficult terrains, allowing users to travel faster and with less effort.
- Traffic is a serious issue in Latin American cities such as Mexico City and Sao Paulo. Nonetheless, technological development and lightweight materials assist the e-bike market's quick growth. Speed pedelecs, which allow riders to reduce the time taken for journeys more than regular pedelecs, could be one of the keys to unlocking a more sustainable transportation future in Mexico. As such power and speed capabilities improve, consumers will surely gravitate toward the speed pedelecs segment in the next years. Still, from a price standpoint, some audiences will undoubtedly opt for pedal-assisted e-bikes as well.
- The government and consumers are expected to turn toward electric mobility due to the increasing fuel prices. As the pedal assist bicycle is better suited for shorter distances, the speed pedelec will be the most practical option in the near future. As power and speed capabilities improve, consumers may likely gravitate toward speed pedelecs in the coming years. Although Mexico has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes.
Understand The Key Trends Shaping This Market
Download Sample
Mexico E-bike Market Trends
Mexico's E-Bike adoption rate demonstrates gradual growth, with a trend towards more widespread use and market acceptance.
- The sales of bicycles in Mexico have been growing significantly over the past few years. The increase in health-conscious consumers, high traffic congestion (as Mexico is one of the countries with a high traffic index), and increasing government practices to promote e-bicycles concerning environmental conditions are enhancing the adoption of e-bicycles in the country. Reductions in fuel costs and eco-friendly rides accelerated the adoption rate of e-bicycles to 12.1% in 2018 over 2017 in Mexico.
- The country witnessed a sales decline in 2019, which continued by 11.5% in 2020 over 2019. The rise in the COVID-19 cases, restrictions imposed by the government, such as the closing of various manufacturing industries, and the implementation of trade barriers across various countries have resulted in a sales drop. Mexican bicycle sales were highly affected as it is majorly dependent on imports. Shortage of products declined the adoption rate of e-bikes by 9.2% in 2020 over 2019.
- The starting of business operations and the removal of trade barriers after the lockdown resulted in the gradual growth of the sales of e-bicycles in Mexico in 2021, as starting trade activities solved the problem of the product shortage in the country. The availability of advanced products with high-tech features is attracting consumers, which is projected to increase the adoption rate further, by 15.5%, during the forecast period in Mexico.
Understand The Key Trends Shaping This Market
Download Sample
Mexico's percentage of commuters with a 5-15 km daily travel distance is gradually increasing, indicating a slow but steady change in commuting distances.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- After a dip in 2020, Mexico's bicycle sales display a steady upward trend, suggesting a recovering market with increasing sales potential.
- Mexico demonstrates a declining inflation trend post-2022, suggesting successful economic measures to stabilize prices.
- In Mexico, e-bike battery prices are decreasing, signifying market maturation and increased accessibility.
- Mexico's growth in dedicated bicycle lanes showcases a commitment to enhancing cycling infrastructure and promoting eco-friendly urban mobility.
- Mexico shows a steady decrease in E-bike charging times, indicating improvements in electric vehicle infrastructure and efficient charging technology.
- Mexico's GDP per capita reveals gradual growth with a significant recovery post-2020, indicating economic stabilization and improvement.
- Mexico's bicycle rental market has nearly doubled its value from 2017, indicating a robust and expanding sector with continued growth expected.
- Mexico's hyper-local delivery sector is witnessing notable growth, suggesting an increasing integration of localized digital services within consumer habits.
- Mexico's trekker numbers are consistently rising, suggesting an increasing engagement with outdoor activities and appreciation for the country's diverse natural settings.
- Mexico's Traffic Congestion Index is relatively high but stable, indicating persistent congestion issues but no significant worsening over time.
Mexico E-bike Industry Overview
The Mexico E-bike Market is fragmented, with the top five companies occupying 35.43%. The major players in this market are Bicicletas Mercurio SA De CV, Propella Electric Bikes, Specialized Bicycle Components, Trek Bicycle Corporation and Yamaha Bicycles (sorted alphabetically).
Mexico E-bike Market Leaders
Bicicletas Mercurio SA De CV
Propella Electric Bikes
Specialized Bicycle Components
Trek Bicycle Corporation
Yamaha Bicycles
Other important companies include CowBoy, LeMond, Mastretta, Pedego Electric Bikes, Rad Power Bikes.
*Disclaimer: Major Players sorted in alphabetical order.
Need More Details on Market Players and Competitors?
Download Sample
Mexico E-bike Market News
- September 2022: Specialized, announced a recall of some battery packs on specific electric mountain bike models in May 2021 owing to fire dangers caused by these batteries' flaws.
- August 2022: The Rutland Cycling cycling shop business, which has 12 locations in the Midlands, a notable online presence, and is now home to a number of top-tier bike brands, has been acquired by Specialized UK.
- July 2022: The Morgan Hill, California-based bike firm Specialized announced that Denk Engineering from Germany has joined the business, creating the Specialized Freiburg Innovation Center.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
Mexico E-bike Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Bicycle Sales
2.2. GDP Per Capita
2.3. Inflation Rate
2.4. Adoption Rate Of E-Bikes
2.5. Percent Population/Commuters With 5-15 Km Daily Travel Distance
2.6. Bicycle Rental
2.7. E-Bike Battery Price
2.8. Price Chart Of Different Battery Chemistry
2.9. Hyper-Local Delivery
2.10. Dedicated Bicycle Lanes
2.11. Number Of Trekkers
2.12. Battery Charging Capacity
2.13. Traffic Congestion Index
2.14. Regulatory Framework
2.15. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
3.1. Propulsion Type
3.1.1. Pedal Assisted
3.1.2. Speed Pedelec
3.1.3. Throttle Assisted
3.2. Application Type
3.2.1. Cargo/Utility
3.2.2. City/Urban
3.2.3. Trekking
3.3. Battery Type
3.3.1. Lead Acid Battery
3.3.2. Lithium-ion Battery
3.3.3. Others
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Bicicletas Mercurio SA De CV
4.4.2. CowBoy
4.4.3. LeMond
4.4.4. Mastretta
4.4.5. Pedego Electric Bikes
4.4.6. Propella Electric Bikes
4.4.7. Rad Power Bikes
4.4.8. Specialized Bicycle Components
4.4.9. Trek Bicycle Corporation
4.4.10. Yamaha Bicycles
5. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- MEXICO E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- MEXICO E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- MEXICO E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- MEXICO E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- MEXICO E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- MEXICO E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- MEXICO E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- MEXICO E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- MEXICO E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- MEXICO E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- MEXICO E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- MEXICO E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- MEXICO E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- MEXICO E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- MEXICO E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- MEXICO E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- MEXICO E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- MEXICO E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- MEXICO E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- MEXICO E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- MEXICO E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Mexico E-bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.
- Mexico is one of the first countries in North America to embrace the e-bike culture. In 2019, Mexico had 340 pedal-assisted bicycles and 28 new stations, accounting for 5% of the overall fleet. The function of a speed pedelec is similar to a standard e-bike pedelec, where turning the pedals activates the electric help. These bicycles have recently gained popularity in Mexico due to their increased feasibility and features. Throttle-assisted e-bikes are utilized in mountainous and difficult terrains, allowing users to travel faster and with less effort.
- Traffic is a serious issue in Latin American cities such as Mexico City and Sao Paulo. Nonetheless, technological development and lightweight materials assist the e-bike market's quick growth. Speed pedelecs, which allow riders to reduce the time taken for journeys more than regular pedelecs, could be one of the keys to unlocking a more sustainable transportation future in Mexico. As such power and speed capabilities improve, consumers will surely gravitate toward the speed pedelecs segment in the next years. Still, from a price standpoint, some audiences will undoubtedly opt for pedal-assisted e-bikes as well.
- The government and consumers are expected to turn toward electric mobility due to the increasing fuel prices. As the pedal assist bicycle is better suited for shorter distances, the speed pedelec will be the most practical option in the near future. As power and speed capabilities improve, consumers may likely gravitate toward speed pedelecs in the coming years. Although Mexico has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| Cargo/Utility | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
Need A Different Region Or Segment?
Customize Now
Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- 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. |
Need More Details on Market Definition?
Ask a Question
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
Get More Details On Research Methodology
Download Sample
80% of our clients seek made-to-order reports. How do you want us to tailor yours?
