DUBLIN--(BUSINESS WIRE)--The "e-Bike Market Research Report: Global Industry Trends and Growth Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
Compared to $14.4 billion in 2019, the sale of such vehicles is expected to generate a revenue of $25.9 billion by 2025. It is also being expected that the market will witness a CAGR of 10.3% during 2020-2025 (forecast period).
The major factors leading to the growth of the electric bike (e-bike) market are the increasing air pollution and respiratory disease prevalence, stringent government regulations and supportive policies, and worsening urban traffic congestion.
Based on ownership type, the e-bike market has been bifurcated into shared and personal, of which the personal bifurcation held the larger volume share, of more than 95%, in 2019. This is because shared mobility on bicycles is offered by only a few service providers, whereas e-bikes for personal use are provided by numerous companies. The use of personal e-bicycles is especially high in Japan, China, Belgium, the Netherlands, and France, where people are rapidly adopting them for sports and transportation.
When segmenting by battery, the divisions of the market are sealed lead-acid (SLA), lithium-ion (Li-ion), and others, wherein others' includes silicon, nickel-metal hydroxide (NiMH), and lithium-polymer variants. Among these, the e-bike market was led by the Li-ion division in 2019, in terms of value, as such batteries boast a higher energy density, which means that the driving range they impart, per unit charge, is high. Additionally, they are also lighter, which makes the overall bike less bulky.
One of the major drivers for the e-bike marketis the increase in concerns regarding the emission of greenhouse gases (GHG) from conventional vehicles. As such automobiles run on fossil fuels, they lead to high levels of air pollution, which is responsible for climate change, global warming, as well as several respiratory diseases, including lung cancer, chronic obstructive pulmonary disease (COPD), and asthma. This is why governments around the world have implemented stringent emission reduction targets as well as those regarding vehicles' fuel economy.
Additionally, countries are strongly encouraging the replacement of diesel and petrol vehicles with new-energy variants, such as those that run on electricity and therefore produce no operational emissions. Among the numerous initiatives taken in this regard is the 25% (or about $1,119) subsidy granted by the Swedish government in 2018 for every e-bike, which resulted in a sale of 100,000 e-bikesin 2017-2018. Similarly, France offers a $259 financial assistance on every pedal-assist e-bike.
Another reason for the progress of the e-bike market is that these vehicles help lower urban road congestion. Numerous countries, including Switzerland, Mexico,Japan, and France, are urging people to switch to e-bikes from petrol and diesel cars, motorcycles, and scooters, for short-distance traveling. As e-bikes need less driving and parking space, they free up the roads as well as sidewalks for pedestrians. This is especially beneficial in the peak hours, when the number of office goers on the road is the highest.
Around the world, Asia-Pacific (APAC) is the largest e-bike market, by sales volume, as it accounts for the highest sale of low-speed electric vehicles (LSEV), which include bicycles. Among the regional countries, Japan, China, and Indonesia witness the highest adoption of such automobiles, owing to their extreme air pollution levels. However, in terms of revenue, Europe held the largest share in 2019, as e-bikes are considerably more expensive here than in APAC. During the forecast period, the fastest progress, in terms of value as well as volume, would be experience by North America.
Hence, as the condition of the environment degrades further and governments encourage the use of light electric vehicles, especially for short distances, the demand for electric bicycles would also increase.
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 by Ownership Type
4.1.2 by Battery
184.108.40.206 Lead Acid
4.1.3 by Propulsion Type
4.2 Value Chain Analysis
4.3 Market Dynamics
220.127.116.11 Increasing Integration of Smartphones into Electric Bikes
18.104.22.168 Government Subsidies and Financial Incentives
22.214.171.124 Environment Protection and Health Concerns
126.96.36.199 Urban Road Congestion
188.8.131.52 Impact Analysis of Drivers on Market Forecast
184.108.40.206 Standardization and Regulatory Landscape
220.127.116.11 High Maintenance Cost
18.104.22.168 Impact Analysis of Restraints on Market Forecast
22.214.171.124 High Adoption of Shared Electric Bikes
4.4 Porter's Five Forces Analysis
Chapter 5. Regulations for Electric Bike
Chapter 6. Global Market Size and Forecast
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LAMEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Key Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Strategic Developments of Key Players
11.4.1 Product Launches
11.4.2 Client Wins
11.4.3 Other Developments
Chapter 12. Company Profiles
12.1 Accell Group N.V.
12.1.1 Business Overview
12.1.2 Product & Service Offerings
12.1.3 Key Financial Summary
12.2 Yadea Group Holdings Ltd.
12.3 Giant Manufacturing Co. Ltd.
12.4 AIMA Technology Group Co. Ltd.
12.5 Zhejiang Luyuan Electric Vehicle Co. Ltd.
12.6 Jiangsu Xinri E-Vehicle Co. Ltd.
12.7 Dongguan Tailing Electric Vehicle Co. Ltd.
12.8 Trek Bicycle Corp.
12.9 Yamaha Motor Co. Ltd.
12.10 Merida Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/it90zi