Market Overview

Electric bicycle also known as e-bike is modified bicycle with an electric motor, which offers pedal assistance to the rider. It has similar basic features as regular pushbike with electric assistance. Electric bicycles are the largest selling electric vehicles in the world and are estimated to cross 36 million mark by 2025. Reduction in weights aided by integration of Li-ion batteries, low cost, wide availability, and minimal environment impacts are expected to be the major factors fueling growth of the industry over the forecast period. Increasing urbanization and concerns regarding the environmental impacts of motor vehicles across the global economies are expected to further augment growth of market.

Increasing motor vehicles traffic levels have led to increased road accidents over the past decade, accounting for over 1.25 million deaths in 2015, according to report published by World Health Organization (WHO). Moreover, pollution levels across the globe have witnessed significant surge, owing to increasing vehicle traffic. According to Union of Concerned Scientist, one fifth of the U.S. emissions responsible for global warming are generated due to trucks and cars. Reduction in emissions and traffic levels can be achieved by adopting eco-friendly electric bicycles that can drastically decrease traffic congestion along with negligible carbon emissions, which is expected to propel growth of the electric bicycles market over the forecast period.

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Market Dynamics

Increasing awareness and government initiatives to promote use of battery operated vehicles is resulting into increasing adoption of eco-friendly vehicles by consumers. For instance, FAME-India scheme in India, electric bike grant scheme in states of Jersey, and grants offered for EVs purchase by Office for Low Emissions in UK are the government initiatives which were focused on promotion of e-bike. These initiatives are expected to provide potential growth opportunities for the electric bicycles market throughout the forecast period.

Electric Bicycles Market Taxonomy

On the basis of battery Type, the global electric bicycles market is segmented into:

Lead Acid

Lithium ion (Li-ion)

Nickel metal hydride (NiMH)

On the basis of use, the global electric bicycles market is segmented into:

City/Urban

Trekking

Racing

On the basis of driver mechanism, the global electric bicycles market is segmented into:

Hub Motor

Mid Motor

On the basis of driver mechanism, the global electric bicycles market is segmented into:

Plug-in

Battery

On the basis of operating mode, the global electric bicycles market is segmented into:

Battery/Peddle Operated

Throttle Operated


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Industry is characterized by large number of number of entrants participating in the competition, primarily owing to introduction of new crowd funded projects to reduce the carbon footprints and increasing demands in Germany, India, Netherlands and the U.S. Key players operating in electric bicycles market include Accell Group, Derby Cycle AG, Easy Motion, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, and Yadea Technology Group Co. Ltd., BionX, Bosch, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Superpedestrian, and Trek.

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