Market Trends of Saudi Arabia E-Bike Industry
This section covers the major market trends shaping the Saudi Arabia E-Bike Market according to our research experts:
E-Cargo Bikes Segment is Expected to Play Key Role in the Market Growth
E-cargo bikes are a low-cost, environmental-friendly way to transport a variety of goods. The cost of running e-cargo bikes is substantially lower than as compared to conventional fuel vehicles and is even less as compared to small electric vans, the cost of transportation is very low for e-cargo bikes. Further supporting government regulations further poised to create positive outlook for the market. The e-cargo bike segment of the Saudi arabia e-bike market expected to see positive demand over the forecast period with majority demand being driven by food delivery, logistics, etc. companies who are focused on adopting eco-friendly fleet in wake of environmental targets and fluctuation in fuel prices in the country.
Though many of the key players operating in the market either through their location specific offerings or through local dealers the players are intended to expand their presence in the market by adopting growth strategies like launches, product development, mergers, acquisitions, etc. anticipated to help market grow during the forecast period. For instance,In July 2020, Raleigh launched new range of e-cargo bikes into the market and these E-Cargo bikes are designed to carry up to 100kg in weight and have a range of up to 75km on one single charge. Thus, such developments are likely to lead to market growth significantly over the forecast period. With the aforementioned trends and development, it is expected that the market segment will grow at a healthy rate during the forecast period.
Lithium-ion Battery Anticipated to be Most Preferred Consumers Choice During Forecast Period
The lithium-ion segment in e-bike market across Saudi Arabia anticipated to grow significantly over the forecast period. Lithium-ion batteries optimize for both total weight and energy, and offer the best range and longevity compared to their counterparts. Li-ion battery types can also be molded into different shapes or unique spaces, making them ideal for high capacity and low power applications and helps the consumer in easy charging and long battery range.
In addition, These have become the standard battery for electric bikes, accounting for more than 90% of the market. The LiPo is a rechargeable battery that is cheap and relatively easy to discharge at higher C-rates. So several key players are embedding these lithium ion batteries in the vehicles to attract consumers. For instance, In September 2020, Giant unvieled a new e-MTB for 2021, called Giant Trance X E+ Pro 29 1. The new Trance X E+ gets an all-new chassis that is optimized around 29in wheels with 2.6in tires front and rear with a 150mm fork up front and 140mm of rear-wheel travel courtesy of the Maestro dual-link platform. It offers Lithium ion, The EnergyPak 625 battery is cleanly integrated into the downtube of the lightweight ALUXX SL frame.
Though Pandemic has unvieled the difficulties in supply chain and overdependancy of the players operating in this segment on Asia-Pacific ountries especially china, this scenario is slowly changing and in future the battery manufacturers and the OEMS too anticipated to expand their production plants to mitigate such future risks. Therefore, the Lithium ion battery segment of the market studied expected to witness notable growth during the forecast period.
