E-Bike Market to be worth $25.9 billion by 2025

The increasing pollution levels caused because of the large-scale usage of conventional fuels-powered vehicles and bikes are making the people switch to eco-friendly modes of transportation such as e-bikes. Additionally, the governments of several countries are increasingly implementing various incentives and policies such as subsidies or discounts on the prices of e-bikes, for promoting their adoption in the transport fleets. For instance, the Swedish government launched a subsidy of up to nearly $1,119 (or 25%) on the purchase of an e-bike for the following three years.

Due to this subsidy, there was a huge rise in the sales of e-bikes in Sweden, from more than 67,000 units to over 100,000 units from 2017 to 2018”. Besides the government subsidies, the increasing road congestion in urban areas and major cities and rising popularity of low-speed electric vehicles such as the pedal-assist e-bikes, especially for traveling short distances are the other major factors fuelling the sales of e-bikes across the world. These pedal-assist bikes also serve as good alternatives to cycling and are thus, becoming very popular amongst the ageing population.

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The above-mentioned factors are predicted to cause the growth of the global e-bike market, in terms of value, from $14.4 billion to more than $25.9 billion from 2019 to 2025, as per the forecasts of P&S Intelligence, a market research organization based in India. The market is also expected to demonstrate a CAGR of 10.3% from 2020 to 2030. E-bikes are mainly used for personal commuting purposes and in bike sharing services and systems. Between the two, the personal ownership of these bikes was observed to be higher in 2019.

Geographically, the North American e-bike market will exhibit the fastest growth over the next few years. This is predominantly credited to the surging popularity of these bikes for short-distance commuting and trekking purposes amongst the people of various North American nations. In addition to this, the adoption of shared e-bikes is increasing at a lightening pace in North America, which is, in turn, boosting the demand for e-bikes in the region.

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Hence, it can be said with conviction that the demand for e-bikes in market will surge all over the globe in the forthcoming years, mainly because of the increasing pollution levels and the rising enactment of favorable government incentives and policies in many countries around the world.

 

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Electric Bike Finally Showing Potential to Scale

The major factors leading to the growth of the electric bike market are the increasing air pollution and respiratory disease prevalence, stringent government regulations and supportive policies, and worsening urban traffic congestion. 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). E-bikes have an electric motor, therefore are pollution-free.

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 95.0%, 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.

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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.

Market Size Breakdown by Segment
The electric bike market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2025.

Based on Ownership Type

• Personal
• Shared

Based on Battery

• Lithium-Ion
• Lead Acid

 Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Ownership Type
1.3.2 Market Segmentation by Battery
1.3.3 Market Segmentation by Propulsion Type
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Volume
1.3.6.2 Value
1.4 Key Stakeholders

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Electric Bike and Scooter Market Trending in Europe Region

The European electric scooters and motorcycles market is expected to reach $892.4 million by 2025, with a CAGR of 26.2% during the forecast period, according to P&S Intelligence.

The major driving factors for the growth of the market are deployment of electric scooters for sharing services, rising concerns over greenhouse gas emissions, government initiatives, and implementation of stringent emission regulations.

The rising concerns over greenhouse gas emissions coupled with introduction of several government initiatives is a major factor for the growth of the European electric scooters and motorcycles market. Accelerating rate of environmental degradation caused by greenhouse gas emissions has become a major concern for governments across the world. This has resulted in various government initiatives to reduce carbon emissions on a large scale.

For instance, the Italian government has recently enacted a legislation to provide subsidies on electric scooter purchases, and the scheme is valid through 2019. The government has allocated $11.34 million (EUR 10 million) to support the scheme. Thus, such initiatives by the government to increase the adoption of electric vehicles as an effort to reduce carbon emissions are driving the European electric scooters and motorcycles market.

Implementation of stringent emission regulations acting as a major driverIncreased demand for high-powered electric motorcycles is a key trend witnessed in the market

The demand for high-powered electric motorcycles is increasing in the European countries. Due to their higher power levels, electric motorcycles witnessed over 100% increase in their sales in 2018, from the preceding year. Many original equipment manufacturers (OEMs) of conventional gasoline-based vehicles have announced their plans of introducing high-powered electric motorcycles in the near future. Thus, the increasing demand for electric motorcycles with high-power engine is one of the key trends observed in the European electric scooters and motorcycles market.

France was the largest electric scooters and motorcycles market in 2018
France held the largest share in the European electric scooters and motorcycles market during the historical period, accounting for over 25% sales volume in 2018. However, Spain is expected to be the largest market for electric scooters and motorcycles in Europe during the forecast period. This is due to the fact that introduction of scooter sharing business is getting popular in major cities of the country and many new players have started their operation in Barcelona as the scooter culture is vibrant in the city.

Some of the major players operating in the European electric scooters and motorcycles market are GOVECS AG, Gogoro Inc., TORROT ELECTRIC EUROPA S.A., Kwang Yang Motor Co. Ltd., unu GmbH, BMW AG, Niu Technologies, Askoll EVA SpA, Zero Motorcycles Inc., Lightning Motors Corp., Alta Motors, Scutum Logistic S.L., emco electroroller GmbH, ETRIX AG, and Piaggio & C. SpA.

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