New Zealand E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 38.96 Million |
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Market Size (2029) | USD 66.75 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 11.37 % |
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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 |
New Zealand E-bike Market Analysis
The New Zealand E-bike Market size is estimated at 38.96 million USD in 2024, and is expected to reach 66.75 million USD by 2029, growing at a CAGR of 11.37% during the forecast period (2024-2029).
38.96 Million
Market Size in 2024 (USD)
66.75 Million
Market Size in 2029 (USD)
33.70 %
CAGR (2017-2023)
11.37 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
77.85 %
value share, Pedal Assisted, 2023
Factors such as easy buying and good health benefits can also lift a good amount of loads easily, and carefree maintenance has made pedal assist the largest segment by propulsion type.
Largest Segment by Application Type
77.55 %
value share, City/Urban, 2023
The popularity of bicycles as a daily form of transportation for various uses like market travel, offices, and schools makes city/urban the largest segment by application.
Largest Segment by Battery Type
98.75 %
value share, Lithium-ion Battery, 2023
Lithium batteries are the largest battery type due to their high usage as they are lightweight, have better range and quick charging capabilities, and are durable.
Fastest-Growing Segment by Propulsion Type
13.69 %
Projected CAGR, Speed Pedelec, 2024-2029
Speed pedelec is the fastest-growing segment by propulsion type due to the adoption of high-speed bikes to escape traffic conditions and save time and money.
Leading Market Player
17.48 %
market share, Dorel Industries Inc., 2022
Dorel is the leading market player in New Zealand for electric bikes with its wide product offerings, well-established brand image, and easy availability of its products due to a broad supply chain network.
PROPULSION SEGMENT MARKET OVERVIEW
- In New Zealand, standards for developing bicycle infrastructure are subpar, and both the central and municipal governments provide very little support for cycling. As individuals become more aware of the need to maintain a healthy, active lifestyle, bicycles are becoming popular as a practical form of leisure activity. In New Zealand, people are becoming more health-conscious, resulting in the increased use of e-bikes.
- In terms of most parameters, including GHG emissions, the projected life cycle consequences of e-bikes were shown to be more advantageous compared to autos. This was partly owing to New Zealand's almost 80% proportion of renewable electricity generation. Because of this electrical mix, the e-bike's environmental impacts during usage were less than those associated with its manufacturing and disposal. The environmental impacts were evaluated for recharging the battery at four different times of day, representing different average electricity generation mixes.
- The study emphasized the importance of reducing the use of private autos, transitioning to zero or low-emission vehicles, and decarbonizing the freight sector and public transportation. As fuel prices rise and people become more mindful of pollution, the government and inhabitants of New Zealand are expected to shift to electric vehicles. The pedal-assisted e-bike is ideal for shorter distances, but speed pedelecs are expected to emerge as the most practical option in the future. As power and speed capabilities improve, the speed pedelecs segment of the New Zealand e-bike market will undoubtedly record an increase in demand. Owing to these factors, the e-bike market in New Zealand is expected to flourish during the forecast period.
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New Zealand E-bike Market Trends
New Zealand demonstrates a robust increase in E-Bike adoption rates, indicating a strong market presence and consumer acceptance.
- New Zealand has been witnessing growth in e-bike sales in recent years, with about 75,000 units imported in 2021. Although sales had remained consistent, increased awareness of carbon emissions and the rising price of petrol and ease of access increased the demand for e-bikes for commuting in recent years. E-bikes and other low-powered vehicles (mobility scooters, e-scooters, etc.) are becoming popular across the world as battery technology improves and economies of scale reduce prices.
- To meet the demand, specialty stores are being set up across New Zealand. In contrast to most other nations, New Zealand law restricts motor power but does not address motor assistance cut-out speed. Any ordinarily legal motor may push these vehicles to speeds considerably in excess of 40 km/h with stronger batteries and controllers producing high amperage.
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New Zealand demonstrates a steady increase in the percentage of commuters traveling 5-15 km daily, indicating stable commuting patterns.
- New Zealand has witnessed a significant increase in the demand for bicycles in recent years as individuals began showing interest in bicycle travel. There is a rise in the demand for bicycles, but users commuting daily to offices, businesses, and markets within a range of 5-15 km by bicycles is still low compared to other modes of transportation. As the majority of people are using personal automobiles for daily usage, close to 2.5% of the workers across New Zealand opted for bicycle travel in 2020 within the range of 5 to 15 km.
- The stoppage of public transportation and the avoidance of rental cars, the COVID-19 limitations, and the lockdown had a favorable effect on bicycle sales, driving up demand. As more people began utilizing bicycles for short commutes, the number of commuters covering a distance of 5 to 15 km increased significantly in New Zealand, rising in 2021 over 2020.
- People started riding bicycles to work on a regular basis when the restrictions were removed. Many people now commute to work each day on bicycles between workplaces, businesses, and nearby markets within a radius of 5 to 15 km. A significant number of commuters opted for bicycles in 2022 over 2021. Bicycling to work is becoming more popular due to health advantages, zero emissions, and time savings from avoiding traffic. Owing to such factors, commuter travel between 5 and 15 km is anticipated to grow in New Zealand during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- New Zealand's bicycle sales show significant growth in 2020-2021, then stabilize, indicating a responsive market with a strong interest in cycling.
- New Zealand demonstrates a peak in inflation in 2022, with subsequent stabilization, reflecting effective economic measures.
- New Zealand's e-bike battery prices are on a decline, signaling market growth and improved cost efficiencies.
- Pollution Growth and People Opting for Clean and Safe Bicycle Rides
- New Zealand is witnessing a steady decrease in E-bike charging time, highlighting advancements in battery technology and sustainable transport options.
- New Zealand's GDP per capita shows consistent growth, highlighting a robust economy with a focus on sustainability.
- New Zealand's bicycle rental market, while smaller, is consistently growing, reflecting an established and steady demand.
- New Zealand's hyper-local delivery sector shows steady growth, reflecting a growing consumer preference for localized digital solutions.
- New Zealand shows a steady rise in trekker numbers, reflecting the country's rich natural heritage and its appeal as a destination for outdoor activities.
- New Zealand's Traffic Congestion Index is relatively stable, indicating consistent traffic conditions and possibly effective congestion control measures.
New Zealand E-bike Industry Overview
The New Zealand E-bike Market is fragmented, with the top five companies occupying 26.15%. The major players in this market are Accell Group, Dorel Industries Inc., Giant Manufacturing Co., Juiced Bikes and Magnum (sorted alphabetically).
New Zealand E-bike Market Leaders
Accell Group
Dorel Industries Inc.
Giant Manufacturing Co.
Juiced Bikes
Magnum
Other important companies include Merida Industry Co Ltd, Pedego Electric Bikes, Scott Corporation SA (Scott Sports), Specialized Bicycle Components, Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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New Zealand E-bike Market News
- December 2022: Scott sports has launched the Solace, a new electric road bike aimed new drop-bar electric bike range that is based on TQ’s HPR550 motor system.
- September 2022: Specialized, announced a recall of some battery packs on specific electric mountain bike models in May 2021 owing to fire dangers caused by these batteries' flaws.
- August 2022: Haibike officially announced their new Yamaha PW-X2-powered ALLMTN 7, of all-new design, with a carbon fiber frame, Fox Float suspension, and Shimano XT drivetrain and brakes.
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.
New Zealand 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 Accell Group
- 6.4.2 Dorel Industries Inc.
- 6.4.3 Giant Manufacturing Co.
- 6.4.4 Juiced Bikes
- 6.4.5 Magnum
- 6.4.6 Merida Industry Co Ltd
- 6.4.7 Pedego Electric Bikes
- 6.4.8 Scott Corporation SA (Scott Sports)
- 6.4.9 Specialized Bicycle Components
- 6.4.10 Trek Bicycle Corporation
- *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:
- NEW ZEALAND E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- NEW ZEALAND E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- NEW ZEALAND E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- NEW ZEALAND E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- NEW ZEALAND E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- NEW ZEALAND E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- NEW ZEALAND E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- NEW ZEALAND E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- NEW ZEALAND E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- NEW ZEALAND E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- NEW ZEALAND E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- NEW ZEALAND E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- NEW ZEALAND E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- NEW ZEALAND E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- NEW ZEALAND E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- NEW ZEALAND E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- NEW ZEALAND E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- NEW ZEALAND E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- NEW ZEALAND E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- NEW ZEALAND E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- NEW ZEALAND E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
New Zealand 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.
- In New Zealand, standards for developing bicycle infrastructure are subpar, and both the central and municipal governments provide very little support for cycling. As individuals become more aware of the need to maintain a healthy, active lifestyle, bicycles are becoming popular as a practical form of leisure activity. In New Zealand, people are becoming more health-conscious, resulting in the increased use of e-bikes.
- In terms of most parameters, including GHG emissions, the projected life cycle consequences of e-bikes were shown to be more advantageous compared to autos. This was partly owing to New Zealand's almost 80% proportion of renewable electricity generation. Because of this electrical mix, the e-bike's environmental impacts during usage were less than those associated with its manufacturing and disposal. The environmental impacts were evaluated for recharging the battery at four different times of day, representing different average electricity generation mixes.
- The study emphasized the importance of reducing the use of private autos, transitioning to zero or low-emission vehicles, and decarbonizing the freight sector and public transportation. As fuel prices rise and people become more mindful of pollution, the government and inhabitants of New Zealand are expected to shift to electric vehicles. The pedal-assisted e-bike is ideal for shorter distances, but speed pedelecs are expected to emerge as the most practical option in the future. As power and speed capabilities improve, the speed pedelecs segment of the New Zealand e-bike market will undoubtedly record an increase in demand. Owing to these factors, the e-bike market in New Zealand is expected to flourish during the forecast period.
| 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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