China E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 10.68 Billion |
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Market Size (2029) | USD 12.39 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 3.00 % |
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Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
China E-bike Market Analysis
The China E-bike Market size is estimated at 10.68 billion USD in 2024, and is expected to reach 12.39 billion USD by 2029, growing at a CAGR of 3.00% during the forecast period (2024-2029).
10.68 Billion
Market Size in 2024 (USD)
12.39 Billion
Market Size in 2029 (USD)
11.02 %
CAGR (2017-2023)
3.00 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
81.18 %
value share, Pedal Assisted, 2023
Pedal assist is the largest segment in its market due to the bikes’ cheap affordability, no fuel cost, long commutes, and people’s focus on a healthy lifestyle.
Largest Segment by Application Type
79.45 %
value share, City/Urban, 2023
The city/urban bike segment is the largest due to the widespread use of bicycles for daily commutes among students, wage workers, and delivery boys.
Largest Segment by Battery Type
99.63 %
value share, Lithium-ion Battery, 2023
Lead acid batteries are the fastest-growing battery type in China as they use traditional technologies and are inexpensive. China is one of the largest producers of lead acid batteries.
Fastest-Growing Segment by Propulsion Type
6.18 %
Projected CAGR, Speed Pedelec, 2024-2029
The speed pedelecs segment is expanding quickly due to consumers' rising interest in fast bikes for various uses, including long-distance travel and adventurous trips.
Leading Market Player
25.04 %
market share, AIMA technology Group Co. Ltd, 2022
A strong customer base, brand awareness among people, offering quality products at effective prices, focus on customer requirements, and good customer support make Aima the largest market player across China.
PROPULSION SEGMENT MARKET OVERVIEW
- E-bikes are becoming more powerful, and some models are more similar to scooters and motorcycles than to bicycles in terms of performance. The government's policies and laws supporting the use of green technologies, like e-bikes, are what essentially fuel the China e-bike market. These initiatives have sparked the development of big data-using application platforms and e-bikes with smart batteries. Electric bikes (e-bikes) provide cheap, convenient, and relatively energy-efficient transportation to an estimated 40 million to 50 million people in the People’s Republic of China (PRC) as of 2007. In 2015, some 14.35 million electric bikes were sold to customers in China. The country is the most important market for electric bikes worldwide.
- In 2019, as the leading brand of electric bicycles in China, Yadea sold around 6.1 million units, almost doubling its sales compared to 2016. Meanwhile, Sunra and Niu also experienced sale growth from 2016 to 2019, with respective sales of 1.7 and 0.4 million units in 2019.
- The consequences of developing transportation infrastructure and increasing transportation volume include pollution and greenhouse gas emissions. The transportation industry accounted for 9% of direct CO2 emissions in 2020. The Chinese government is making concerted efforts to change its transportation system into a smart and environmentally friendly one. Given these considerations, the Chinese government will encourage pedal-assisted, speed pedelec, and throttle e-bikes to alleviate China's congestion, pollution, and fuel price difficulties.
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China E-bike Market Trends
China demonstrates exceptionally high and increasing E-Bike adoption rates, highlighting a vast market and strong consumer adoption.
- China accounted for more than 90% of consumption in the Asia-Pacific e-bike market during the historical period, owing to the high sales of e-bikes in the country to tackle heavy traffic conditions and growing vehicle pollution. The import and export volumes of e-bikes in China have been large over the past years. Currently, China ranks as the largest exporter of electric bikes worldwide.
- The Chinese e-bike industry is largely driven by several government efforts and legislation supporting the use of green technology, thus boosting the demand for e-bikes with smart batteries and application platforms. Electric motorcycles made by Chinese manufacturers have gained favor in Europe due to their high quality and technical advancements. There has also been an increase in the demand for e-bikes in the country to prevent traffic congestion and accidents. The advent of rental services due to the rising focus on shared micro-mobility services has also benefited the industry. other factors driving the adoption of e-bikes include hyper-urbanization, a scarcity of parking spaces, and high transport expenses for fuel vehicles
- An electric bike is becoming an affordable option to many Chinese consumers, as it is priced at CNY 1,500-3,000 (about USD 180-360), which is a small fraction of the cost of a car. During the forecast period, the consumption of e-bikes is likely to continue to grow due to the decreasing cost of e-bikes in the Chinese market. Gasoline prices have risen in the country, while electricity prices in rural areas have dropped, making e-bikes more economically competitive to alternatives, like gasoline-powered scooters.
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China demonstrates a consistent rise in the population commuting 5-15 km daily, reflecting a gradual change in commuting patterns.
- Every year, the use of bicycles for transportation grows in China, driving their demand. This growing demand is leading to an increase in the number of people who use bicycles to commute 5-15 km per day. Nearly 15% of individuals in China used bicycles as their primary mode of transportation in 2020 to travel between 5 and 15 km daily to various locations, including offices and schools.
- The COVID-19 pandemic significantly boosted China's bicycle demand in 2020 and 2021 due to lockdowns and the closure of gyms and yoga studios. People also avoided public transportation to maintain social distancing and chose bicycles to commute to their workplaces, places of business, and other nearby sites in many Chinese cities. In 2021, there was an increase in the number of commuters traveling 5-15 km on bicycles.
- Currently, many people use bicycles to travel a distance of 5-15 km to their workplaces, places of commerce, and nearby markets. About 17% of daily commuters rode bicycles in 2022. Due to improvements in bicycle infrastructure and a variety of cycling promotion initiatives by the government, the number of people biking to work increased in 2022 compared to 2021. Such factors are anticipated to boost the number of commuters using bicycles to cover a distance of 5-15 km daily, which may also increase the demand for bicycles in China during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- China's bicycle sales peak in 2020, followed by a gradual decline, suggesting market saturation or shifting consumer preferences.
- China shows a controlled inflation rate, indicating effective market regulation and economic stability.
- China's e-bike battery prices are decreasing, highlighting mass production efficiencies and strong market demand.
- China's notable increase in dedicated bicycle lanes aligns with its extensive initiatives to promote cycling as an essential part of urban mobility.
- China's E-bike charging time is decreasing rapidly, showcasing the country's commitment to improving electric mobility solutions and battery performance.
- China's consistent GDP per capita growth underscores its rapid economic expansion and global influence.
- China's bicycle rental market is seeing exponential growth, firmly establishing it as a dominant force in the sector.
- China's hyper-local delivery sector is witnessing unprecedented growth, indicating a significant market shift towards localized digital solutions.
- China's number of trekkers is increasing notably, reflecting the country's vast and varied landscapes and a growing interest in outdoor recreational activities.
- China's Traffic Congestion Index is on a notable downward trend, reflecting successful efforts in managing traffic congestion and improving urban mobility.
China E-bike Industry Overview
The China E-bike Market is fairly consolidated, with the top five companies occupying 71.76%. The major players in this market are AIMA technology Group Co. Ltd, Luyuan Electric Vehicle Co., Ltd., Sunra Ev, TAILING ELECTRIC VEHICLE CO.,LTD and Yadea Group Holdings Ltd. (sorted alphabetically).
China E-bike Market Leaders
AIMA technology Group Co. Ltd
Luyuan Electric Vehicle Co., Ltd.
Sunra Ev
TAILING ELECTRIC VEHICLE CO.,LTD
Yadea Group Holdings Ltd.
Other important companies include Bird Rides, Inc., Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd., Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd., NIU Technologies, Shanghai Lima Electric Bicycle Co.,Ltd, Tianjin Baishan Electric bicycle Co., LTD, Tianjin Baishan Electric bicycle Co., LTD, Tianjin Fuji-Ta Bicycle Co. Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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China E-bike Market News
- December 2022: As part of its 2023 national dealership promotion plan, Yadea has joined with New U.S. Partner Recruitment Drive for its Ebike Products. Yadea's Ebike is looking for local agents and distributors in the US as part of its plans for global expansion.
- December 2022: Green Alpha Advisors LLC Invests $47,000 in Niu Technologies.
- October 2022: Bird Rides Inc. Patent Issued for On-demand rental of electric vehicles.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
China E-bike Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Bicycle Sales
- 4.2 GDP Per Capita
- 4.3 Inflation Rate
- 4.4 Adoption Rate Of E-Bikes
- 4.5 Percent Population/Commuters With 5-15 Km Daily Travel Distance
- 4.6 Bicycle Rental
- 4.7 E-Bike Battery Price
- 4.8 Price Chart Of Different Battery Chemistry
- 4.9 Hyper-Local Delivery
- 4.10 Dedicated Bicycle Lanes
- 4.11 Number Of Trekkers
- 4.12 Battery Charging Capacity
- 4.13 Traffic Congestion Index
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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5.1 Propulsion Type
- 5.1.1 Pedal Assisted
- 5.1.2 Speed Pedelec
- 5.1.3 Throttle Assisted
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5.2 Application Type
- 5.2.1 Cargo/Utility
- 5.2.2 City/Urban
- 5.2.3 Trekking
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5.3 Battery Type
- 5.3.1 Lead Acid Battery
- 5.3.2 Lithium-ion Battery
- 5.3.3 Others
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 AIMA technology Group Co. Ltd
- 6.4.2 Bird Rides, Inc.
- 6.4.3 Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd.
- 6.4.4 Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd.
- 6.4.5 Luyuan Electric Vehicle Co., Ltd.
- 6.4.6 NIU Technologies
- 6.4.7 Shanghai Lima Electric Bicycle Co.,Ltd
- 6.4.8 Sunra Ev
- 6.4.9 TAILING ELECTRIC VEHICLE CO.,LTD
- 6.4.10 Tianjin Baishan Electric bicycle Co., LTD
- 6.4.11 Tianjin Baishan Electric bicycle Co., LTD
- 6.4.12 Tianjin Fuji-Ta Bicycle Co. Ltd.
- 6.4.13 Yadea Group Holdings Ltd.
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CHINA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- CHINA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- CHINA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- CHINA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- CHINA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- CHINA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- CHINA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- CHINA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- CHINA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- CHINA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- CHINA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- CHINA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- CHINA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- CHINA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- CHINA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- CHINA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- CHINA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- CHINA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- CHINA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- CHINA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- CHINA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
China E-bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.
- E-bikes are becoming more powerful, and some models are more similar to scooters and motorcycles than to bicycles in terms of performance. The government's policies and laws supporting the use of green technologies, like e-bikes, are what essentially fuel the China e-bike market. These initiatives have sparked the development of big data-using application platforms and e-bikes with smart batteries. Electric bikes (e-bikes) provide cheap, convenient, and relatively energy-efficient transportation to an estimated 40 million to 50 million people in the People’s Republic of China (PRC) as of 2007. In 2015, some 14.35 million electric bikes were sold to customers in China. The country is the most important market for electric bikes worldwide.
- In 2019, as the leading brand of electric bicycles in China, Yadea sold around 6.1 million units, almost doubling its sales compared to 2016. Meanwhile, Sunra and Niu also experienced sale growth from 2016 to 2019, with respective sales of 1.7 and 0.4 million units in 2019.
- The consequences of developing transportation infrastructure and increasing transportation volume include pollution and greenhouse gas emissions. The transportation industry accounted for 9% of direct CO2 emissions in 2020. The Chinese government is making concerted efforts to change its transportation system into a smart and environmentally friendly one. Given these considerations, the Chinese government will encourage pedal-assisted, speed pedelec, and throttle e-bikes to alleviate China's congestion, pollution, and fuel price difficulties.
| Propulsion Type | Pedal Assisted |
| Speed Pedelec | |
| Throttle Assisted | |
| Application Type | Cargo/Utility |
| City/Urban | |
| Trekking | |
| Battery Type | Lead Acid Battery |
| Lithium-ion Battery | |
| Others |
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Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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