The market for e-bike will expand faster due to increased shared micromobility usage. According to the survey, states with higher per capita GDP have seen greater uptake of electric two-wheelers. 69% of high-speed electric two-wheeler sales last month were in Maharashtra, Karnataka, Tamil Nadu, Rajasthan, Gujarat, and Delhi. State-level subsidies, which average around 5,000 per Kwh, play an important part in encouraging the adoption of electric vehicles. This is most likely the cause of Delhi's 8% share in sales of electric two-wheelers. Shared micromobility is a part of the ecology of public transportation. By providing mobility services for numerous journeys at a lower per-traveler cost, transition to electric micromobility, a flexible method of transportation with low operating costs and overhead, can augment higher-volume fixed-route transit systems.
Along with remote diagnostics, integrated navigation, anti-theft systems, social media connectivity, and automatic emergency calls, these motorcycles also have them. Market growth abruptly stopped during the first half of COVID.
A growing number of nations globally are encouraging the expansion of the e-bike industry to circumvent severe auto emissions restrictions. The air will become cleaner when harmful particle emissions from vehicles are reduced. Various governments globally are promoting safer and cleaner modes of transportation to build a better and greener environment. The industry's ongoing technological improvements contribute to the increased demand for e-bikes. For example, connected e-bikes have a SIM module that permits them to transmit and receive data through the cloud even when connected to a smartphone. Despite this, more people are selecting bicycles as the need to avoid using public transit during this time increases. E-bikes are, therefore, considered as much in supply as a practical, safe, and easily accessible mode of mobility.
In contrast to the pre-pandemic demand of 250,000 units in 2019, NPD Group reports that sales of their motorcycles grew to 450,000 units in 2020 and 790,000 units in 2021, an increase of around 76% to 80%, respectively. E-bikes are a practical, sustainable, and flexible mode of transportation. Consumers consider the finest substitute for smart cars, transit, and scooters. They enable higher speed with minimum effort and offer various health benefits because of their small shape. There is currently a lack of bike routes and bike lanes in developing nations like India and Taiwan, which could be seen as a barrier to the market for e-bikes. However, the high price of e-bikes and their technical restrictions will slow the market's expansion. The laws and regulations governing international trade will be a significant obstacle to the market's expansion rate.
New product launches to flourish the market
On January 20, 2023, at the Consumer Electronics show 2023 in Las Vegas, Yadea made its premiere. A crucial and essential step in its globalization strategy for 2023 is participation in the yearly event. Innovator, URider S, and Trooper 01 were among the three e-bike models the company revealed at the show to change bike riders' travel experiences across North America. In December 2022, the Dutch e-bike manufacturer Veloretti revealed aspirations to be acquired by brands like Pon. Bike, Cervelo, Santa Cruz, Gazelle, and others. Since its establishment 10 years ago, Veloretti has sold bikes directly to European consumers. It can scale up more quickly and grow the brand across Europe.
We are solidifying its position in the European e-bike market and taking a crucial next step in our plan. Together, they can achieve their objectives. In April 2022, according to reports, the Trek Bicycle Corporation acquired 21 David's World Cycle stores with locations in Orlando, Florida. Customers received confirmation of the sale in an e-mail from owners David and Yvette Sanborn on April 8. Customers were also addressed directly on David's World Cycle website. The rate and scope of retailer acquisitions being undertaken by Trek and other currently active players in the industry are of interest to a global audience in the cycling industry.
By propulsion type: E-bikes with pedal-assisted produce more power from the motor, allowing riders to pedal more quickly and easily. Moreover, these bikes are frequently used on hills and another difficult terrain. Young people's rising demand for pedal-assisted e-bikes is projected to fuel market expansion.
By battery type: The expansion of the lead-acid battery market can be attributed to the many advantages offered by these batteries, including their affordability and durability. However, because these batteries are heavy and discharge quickly, their use is anticipated to decrease over the upcoming years.
By power: E-bikes with a power of less than or equal to 250W can be used for fitness and leisure in the city and in hilly and incline terrain. In addition, these bikes' low power output requirement lessens the charging frequency.
By region: The rising consumer spending in nations like China and India in the Asia-Pacific region is estimated to drive the e-bike popularity in this region. Many notable companies are present in the area, including Aima Technology Group Co. Ltd, Yadea Group Holdings Ltd., and Yamaha Motor Company that offers e-bike. It is projected that the market demand will be further fueled by expanding government initiatives and a growing demand for environmentally friendly transportation.
Competitive analysis and profiles of the major electric-bike market players, such as Accell Group, Giant Bicycle, Kalkhoff works, Mahindra& Mahindra Ltd, MERIDA BIKES, Pedego, Pon, Trek Bicycle Corporation, Yadea Technology Group Co. Ltd, and Yamaha Motor Co. Ltd. are provided in this report.
Electric-Bike Market Report Highlights
By Propulsion Type
By Battery Type
Key Market Players
Yamaha Motor Company, Pedego Electric Bikes, Pon Bike , Merida Industry Co. Ltd., Yadea Group Holdings Ltd., Derby Cycle, Accell Group NV, Trek Bicycle Corporation, Mahindra & Mahindra Limited, Giant Manufacturing Co., Ltd.