Norway E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 153.83 Million |
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Market Size (2029) | USD 241.92 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 9.48 % |
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Fastest Growing by Propulsion Type | Throttle Assisted |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Norway E-bike Market Analysis
The Norway E-bike Market size is estimated at 153.83 million USD in 2024, and is expected to reach 241.92 million USD by 2029, growing at a CAGR of 9.48% during the forecast period (2024-2029).
153.83 Million
Market Size in 2024 (USD)
241.92 Million
Market Size in 2029 (USD)
10.43 %
CAGR (2017-2023)
9.48 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
81.79 %
value share, Pedal Assisted, 2023
Riders may cycle more rapidly and easily on e-bikes with pedal assistance because they generate more power from the motor, which makes pedal-assisted e-bikes the largest segment by propulsion type.
Largest Segment by Application Type
81.73 %
value share, City/Urban, 2023
City/urban bike is the largest category in application type due to the increased awareness about the benefits of cycling, such as quicker travel times in traffic, easy parking, and fuel savings.
Largest Segment by Battery Type
99.63 %
value share, Lithium-ion Battery, 2023
The lithium-ion battery segment is the largest segment by battery type. The adoption of Li-ion batteries increases the range and reduces the size and weight of the vehicle.
Fastest-growing Segment by Propulsion Type
9.53 %
Projected CAGR, Throttle Assisted, 2024-2029
The throttle-assisted bikes segment is the fastest-growing segment by propulsion type due to reasons such as the ability to move quickly in different terrains and at higher speeds.
Leading Market Player
11.26 %
market share, Kalkhoff Werke GmbH, 2022
Kalkhoff has grown into a leading retailer of comfort and electric bikes. The company is always on the lookout for innovative ideas and modern technologies in order to build quality bikes.
Propulsion Segment Market Overview
- The rising popularity of e-bikes decreased the sales of other bikes. Like people in other European countries, Norwegians repair their bikes more often instead of buying new ones. As a result, parts suppliers are doing well. However, the sale of bike accessories and bike wear remains low despite the positive demand witnessed during the COVID-19 pandemic. In addition, rider-specific regulations pertaining to e-bikes that make helmets mandatory are expected to benefit e-bike manufacturers and associated accessory manufacturers and, thus, boost the market.
- Government regulations are still in an evolving phase. On the one hand, Norwegian law prohibits using electric bicycles in protected areas such as Dovrefjell, Jotunheimen, and Rondane to ensure the safety of wild reindeer. Still, according to other laws, electric bicycles are considered motorized vehicles. The Environment Agency recently established that electric bicycles with a motor that is turned off should also be defined as motorized vehicles.
- The city of Oslo also announced that it would pay up to 25% of the bike’s cost, capping the grant at NOK 10,000. The country also invested a phenomenal USD 1 billion in new bike infrastructure to push a general modal shift away from cars. Due to the abovementioned factors, the e-bike market is anticipated to witness significant growth over the forecast period (2023-2029).
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Norway E-bike Market Trends
Norway shows a steady increase in E-Bike adoption rates, indicating a growing market and a strong cycling culture.
- The country is witnessing a growing trend of using bicycles over the past few years. reasons such as shifting people towards green and pollution-free rides, opting for the convenient vehicle to save time in traffic congestion, and fuel cost saving are highly contributing to the growth of various types of bicycles in the country, especially e-bikes. Moreover, fewer maintenance costs over other vehicles have accelerated the e-bicycle adoption rate in 2019 over 2018 among the people of Norway.
- The high spread of the covid cases in the country in 2020 acted as a positive side for the thee-bike market across Norway. Factors such as purchasing personal vehicles to avoiding public and rental transportation are one of the major points that encouraged customers to invest in e-bicycles. As a result, the country witnessed a growth in the sales of e-bikes, further accelerating the adoption rate of e-bikes in 2020 over the year 2019 in Norway.
- The decline in the covid cases with relaxation in the pandemic wave resulted in the resumption of business operations and the removal of trade barriers after the lockdown has resulted in good growth in the sales of e-bicycles in Norway in 2021. Moreover introducing new models with attractive features such as fast charging capability, and big lightweight batteries with long-range are capturing the consumers, which further is projected to increase the adoption rate during the forecast period in Norway.
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Norway shows a consistent rise in the population commuting 5-15 km daily, indicating a preference for medium-distance travel.
- Cyclist from various cities has dramatically expanded over the past few years in Norway. However, commuter travel of 5 to 15 kilometers is still relatively low compared to other modes of transportation, as most people travel via various modes due to increased electrification, especially in cars, 67.9% of the population chose to commute via bicycles to nearby places within 5 to 15 kilometres in 2020 in Norway.
- The pandemic's many lockdown restrictions, which included the closing of various shops, businesses, industries, etc. significantly affected the demand for bicycles in Norway in 2020 and 2021. Moreover, the introduction of e-bikes with advanced technology and better range offering has increased the number of daily commuters in Norway. More people started using bicycles for their home-to-work commutes in 2021 compared to 2020, which resulted in an increase in commuters commuting 5 to 15 kilometers in Norway in 2021.
- The use of bicycles for daily transportation has grown, increasing the number of commuters who travel between 5 and 15 kilometres each way, including trips to their places of employment, places of business, and neighbouring markets. In addition, 68.8% of people in the nation rode bicycles to work every day in 2022 between 5 to 15 kilometres . During the projection period in Norway, the development of cycling infrastructure and the construction of bike lanes are anticipated to increase demand for bicycles and commuters by 5 to 15 kilometres.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Norway shows significant growth in bicycle sales, especially post-2020, indicating a booming market with increasing cycling popularity.
- Norway's inflation rates show stability post-2022 peak, reflecting a resilient economy and effective price controls.
- Norway's e-bike battery prices are decreasing, indicating a robust market and improved production capabilities.
- Norway's growth in dedicated bicycle lanes showcases the country's initiatives to promote cycling as an integral part of sustainable urban living.
- Norway shows a consistent decrease in E-bike charging times, reflecting the country's commitment to environmental sustainability and efficient electric mobility solutions.
- Norway's high and growing GDP per capita demonstrates a wealthy economy with strong economic foundations.
- Norway's bicycle rental market is on a steady growth path, mirroring the nation's active and eco-conscious lifestyle preferences.
- Norway's hyper-local delivery sector shows consistent growth, indicating a growing consumer trend towards localized online shopping solutions.
- Norway exhibits a consistent rise in trekker numbers, highlighting the country's rich outdoor culture and the popularity of its scenic trekking routes.
- Norway's Traffic Congestion Index is relatively stable, reflecting consistent traffic conditions and possibly effective management strategies.
Norway E-bike Industry Overview
The Norway E-bike Market is fragmented, with the top five companies occupying 39.30%. The major players in this market are Accell Group NV, Giant Manufacturing Co. Ltd, Kalkhoff Werke GmbH, Trek Bicycle Corporation and Van Moof BV (sorted alphabetically).
Norway E-bike Market Leaders
Accell Group NV
Giant Manufacturing Co. Ltd
Kalkhoff Werke GmbH
Trek Bicycle Corporation
Van Moof BV
Other important companies include Aventon Bikes, Cannondale Bicycle Corporation, Canyon Bicycle, Royal Dutch Gazelle, Royal Dutch Gazelle, Santa Cruz Bicycle.
*Disclaimer: Major Players sorted in alphabetical order.
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Norway E-bike Market News
- November 2022: Cannondale and Stella McCartney introduced the new Stella Shared 3x Cannondale customs bike collection.
- November 2022: The Stormguard E+, a full-suspension e-bike, is unveiled by Giant. The bicycles will be available for purchase in Europe in 2023 and will cost 7,999 Euros for the E+1 and 6,499 Euros for the E+2.
- November 2022: Cannondale announced a new global unified organizational structure that will eliminate regional GM and, the company said, leverage Pon.Bike to enhance operations and growth.
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.
Norway 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 NV
- 6.4.2 Aventon Bikes
- 6.4.3 Cannondale Bicycle Corporation
- 6.4.4 Canyon Bicycle
- 6.4.5 Giant Manufacturing Co. Ltd
- 6.4.6 Kalkhoff Werke GmbH
- 6.4.7 Royal Dutch Gazelle
- 6.4.8 Royal Dutch Gazelle
- 6.4.9 Santa Cruz Bicycle
- 6.4.10 Trek Bicycle Corporation
- 6.4.11 Van Moof BV
- *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:
- NORWAY E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- NORWAY E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- NORWAY E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- NORWAY E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- NORWAY E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- NORWAY E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- NORWAY E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- NORWAY E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- NORWAY E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- NORWAY E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- NORWAY E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- NORWAY E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- NORWAY E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- NORWAY E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- NORWAY E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- NORWAY E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- NORWAY E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- NORWAY E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- NORWAY E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- NORWAY E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- NORWAY E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Norway 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.
- The rising popularity of e-bikes decreased the sales of other bikes. Like people in other European countries, Norwegians repair their bikes more often instead of buying new ones. As a result, parts suppliers are doing well. However, the sale of bike accessories and bike wear remains low despite the positive demand witnessed during the COVID-19 pandemic. In addition, rider-specific regulations pertaining to e-bikes that make helmets mandatory are expected to benefit e-bike manufacturers and associated accessory manufacturers and, thus, boost the market.
- Government regulations are still in an evolving phase. On the one hand, Norwegian law prohibits using electric bicycles in protected areas such as Dovrefjell, Jotunheimen, and Rondane to ensure the safety of wild reindeer. Still, according to other laws, electric bicycles are considered motorized vehicles. The Environment Agency recently established that electric bicycles with a motor that is turned off should also be defined as motorized vehicles.
- The city of Oslo also announced that it would pay up to 25% of the bike’s cost, capping the grant at NOK 10,000. The country also invested a phenomenal USD 1 billion in new bike infrastructure to push a general modal shift away from cars. Due to the abovementioned factors, the e-bike market is anticipated to witness significant growth over the forecast period (2023-2029).
| 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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