Electric Bike Market

Electric Bike Market: Pedelec Segment by Product Type to Retain Its Dominance Throughout the Forecast Period: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027

  • 2017-08-22
  • REP-GB-4683
  • 252 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Electric Bike Market

This study offers a comprehensive, 360 degree analysis on the Electric Bike market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Electric Bike market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Pedelecs expected to lead the product type segment in the electric bike market

At present, pedelecs are the most common types of electric bikes as well as the simplest forms of electric bikes in the market with all the basic functions for city riding. They are low-powered e-bikes where pedalling is mainly assisted by a small electric motor. Pedelecs are the most widely adopted e-bikes in China owing to their inherent advantages. Pedelces are projected to be the most prominent product type segment in the electric bike market growing at a significant CAGR of 3.2% during the forecast period. The demand for electric scooters and motorcycles is growing at a relatively slow pace as compared to pedelecs.

The lead-based battery type segment to dominate the electric bike market

The lead-based battery type segment holds more than 85% in the electric bike market. They are currently the most prominent battery type and this segment is expected to maintain its dominance during the forecast period as lead-based batteries cost lower than other battery types. However, the weight of these batteries is high, they have a low charging life and they violate certain emission norms, owing to which they are likely to be replaced by the Li-ion and the NiMH segment in the coming years. The Li-Ion battery type segment is estimated to grow at a significant CAGR of 3% in terms of value in the electric bike market during the forecast period.

Battery electric bike estimated to be the most lucrative segment in the electric bike market

The demand for battery electric bikes is estimated to grow at a significant rate and projected to hold more than 80% of the electric bike market throughout the forecast period. The plug-in electric scooter segment is growing at a relatively slow pace as compared to the battery electric bike segment. The slow growth in the plug-in electric bike market is due to an insufficient number of charging stations worldwide. Though plug-in electric bikes can be charged at home, they are likely to require charging station in case of emergency situations for refilling the battery just like conventional vehicles require gas stations or filling stations. Therefore, in terms of value, the battery electric bike segment held more than 80% of the market share in 2017.

Asia Pacific dominates the global electric bike market

Two wheelers are the most prominent mode of transportation in the Asia Pacific (excluding Japan) region, which makes APEJ a key region for the production and sales of two wheelers. The key countries for two-wheeler sales in the APEJ region are China, India, and ASEAN countries. The popularity of two wheelers makes APEJ the most prominent market for electric bikes. The electric bikes market is estimated to grow at a significant CAGR of 3.2% and represent a total incremental opportunity of US$ 6.1 Bn in terms of value during the forecast period.

Competition dashboard

The competitive landscape section of the electric bike market delivers the most insightful information regarding the key market players, their relative global position and business strategies. Manufacturers in the electric bike market are expected to expand with strategic developments such as product launches, expansion, collaborations and acquisitions in the electric bike market.

For instance, in 2017, Eccity Motocycles announced a strategic partnership DAFY networks. The 170 DAFY service centres located throughout France will be used for the delivery, commissioning and maintenance of the ECCITY electric bike. In 2017, Hero Electric announced that it is ready to launch the Flash two wheeler in India. The company launched its newest e-Bike Flash at the Green Mobility Expo 2017, New Delhi (India). In 2016, Gogoro announced the launch of its Gogoro Smartscooter EV and Gogoro Energy Network in Europe at the International Motorcycle and Scooter Show in Milan, Italy. In 2016, Jiangsu Xinri E-Vehicle Co. Ltd. announced the launch of its model SUNRA Electric SD in Thailand. In 2016, Zero Motorcycles announced the introduction of two new motorcycles (Zero FXS & Zero DSR), bringing Zero’s offerings to six distinct models.

Some of the key players operating in electric bike market include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

About the Report

FMI published an exclusive forecast report for the electric bike market between 2017 and 2027. The foremost objective of this report on electric bike market is to offer insights on the market scenario, demand generators and technological advancements in electric bike market. Moreover, the study on the electric bike market addresses key dynamics that are expected to diversify the sales and future prominence of electric bike market.

The report on the electric bike market starts with an executive overview in which a product definition is provided. The report further proceeds with the taxonomy of the electric bike market, which elaborates on the key segments. Also, the report outlines visionary insights on the dynamics of the electric bike market including drivers, restraints, opportunities & trends, value chain analysis and pricing analysis. The value chain analysis and pricing analysis of the electric bike market have also been included in the report to help the readers clearly understand the product framework map of the electric bike market.

Segmentation

The electric bike market has been analysed with respect to segments such as product type, battery type, technology and region. The electric bike market registers demand from product types such as electric scooter, electric motorcycle and pedelec. By battery type, it includes li-ion, NiMH and lead-based batteries. The technology for the electric bike market includes plug-in and battery electric bikes. The electric bike market has been evaluated across primary regions such as North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ) and Middle East & Africa (MEA).

Additional Questions Answered

The report also provides answers to other important questions related to the electric bike market, which include:

  • How many units of electric scooters will be sold by the end of 2027?

  • Why are the sales of Li-Ion batteries outpacing those of lead-based batteries in the electric bike market?

  • Which technology will hold the largest volume share of the electric bike market?

  • What will be the growth rate of the electric bike market in Asia Pacific excluding Japan?

Research Methodology

The report offers an in-depth assessment on the electric bike market, which is based on a tested & proven research methodology that involves comprehensive primary and secondary research approaches. These research methods have helped in arriving at important numbers for the electric bike market. Data collected on the electric bike market by these researches goes through several validation funnels, examination and re-examination prior to its inclusion in the report.

The credibility of the statistics evaluated and data acquired on the electric bike market can be attributed to the unique nature of FMI’s research methodology, which claims to ensure greater accuracy and provision of authentic data. Intelligence obtained from opinion leaders and industry experts in the electric bike market has been extrapolated, meanwhile the contemplation of the data has allowed analysts to develop this analytic and insightful report on the electric bike market.

FMI offers a 10-year forecast for the electric bike market between 2017 and 2027. In terms of value, the market is expected to register a CAGR of 3.1% during the forecast period (2017–2027). The main objective of the report is to offer insights on the advancements in the global electric bike market. The study provides the market dynamics that are expected to influence the current environment and future status of the electric bike market over the forecast period. The primary objective of this report is to offer updates on the trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the electric bike market.

A section of the report discusses how the overall competition in the electric bike market is steadily increasing. It discusses various factors that are shaping the internal as well as external competition in the electric bike market. The electric bike market is expected to grow at a stable pace in the near future. Moreover, steady growth of the automotive industry due to an increase in the production & sales of two wheelers, the number of two wheelers on the road and the rising demand for eco-friendly vehicles are among factors expected to create healthy growth opportunities in the electric bike market.

A section of the report highlights the overall country-wise electric bike market. It provides a market outlook for 2017–2027 and sets the forecast within the context of the report. The report sheds light on the key developments and activities executed by prominent manufacturers operating in the electric bike market.

Key Segments Covered in the Electric Bike Market Report

On the basis of product type, the electric bike market can be segmented into:

  • Electric Scooter

  • Electric Motorcycles

  • Pedelec

On the basis of battery type, the electric bike market can be segmented into:

  • Li-Ion

  • NiMH

  • Lead-based

On the basis of technology, the electric bike market can be segmented into:

  • Plug-In

  • Battery

On the basis of region, the electric bike market can be segmented into:

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific excluding Japan (APEJ)

  • Japan

  • Middle East & Africa (MEA)

A detailed analysis has been provided for every segment in terms of market size (volume and value) analysis for the electric bike market.

The report starts with the market overview and provides a definition and analysis about the drivers, restraints, opportunities, supply chain analysis and key trends in the electric bike market. The next section includes a global electric bike market analysis, analysis by product type, battery type, technology and regional-level analysis. All the above sections evaluate the electric bike market on the basis of various factors affecting the market and cover the present scenario and future prospects. For market data analysis, the report provides historical data from 2012 to 2016. The report considers 2016 as the base year, and the numbers for the electric bike market are estimated for 2017 and forecast made for 2018–2027.

It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the same on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities for market players.

Another key feature of the electric bike market report is the analysis of all key segments in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as in identifying the potential resources from a sales and delivery perspective in the electric bike market.

Research Methodology of the Electric Bike Market

The report titled “Electric Bike Market” focuses on providing information regarding the volume and value of the market from a global perspective. The research on the said market was initiated thorough secondary research on the product using top-down as well as bottom-up approaches, right down to the country and segmental level. The production & sales of two wheelers, electric vehicles, market trends and growth projections were taken into consideration to arrive at the total market. In addition to the above-mentioned secondary research, the yearly revenue generated by various types of electric bikes was estimated.

Furthermore, the yearly revenue generated from electric bike-manufacturing companies from each product type were obtained from primary as well as secondary sources and then benchmarked at the regional level.

The electric bike market value thus deduced was once again cross-verified and validated from the supply side. FMI’s proprietary regression analysis forecast model has been adopted to generate the market estimation for the forecast years and takes into account the effects of macro-economic factors that impact the overall electric bike market. It has been further validated by the primary respondents that belong to different levels across the entire value chain of the electric bike market, which include manufacturers and independent service providers.

This approach enabled the forecasting of the electric bike market in terms of CAGR with respect to the forthcoming period based on end user sentiments and helped in analyzing the electric bike market on the basis of Year-on-Year growth (Y-o-Y). The electric bike market has been analyzed in terms of Absolute Dollar Opportunity and Basis Point Share (BPS) along with the market attractive index for sharing every aspect of high growth segments in the electric bike market.

Electric Bike Market Participants

In the final section of the report, a competitive landscape has been included to provide report audiences a dashboard view. Detailed profiles of manufacturers have also been included within the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the electric bike market. Key players in global electric bike market include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

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