South Africa E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 5.19 Million |
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Market Size (2029) | USD 9.80 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 13.56 % |
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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 |
South Africa E-bike Market Analysis
The South Africa E-bike Market size is estimated at 5.19 million USD in 2024, and is expected to reach 9.80 million USD by 2029, growing at a CAGR of 13.56% during the forecast period (2024-2029).
5.19 Million
Market Size in 2024 (USD)
9.80 Million
Market Size in 2029 (USD)
53.18 %
CAGR (2017-2023)
13.56 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
80.89 %
value share, Pedal Assisted, 2023
On e-bikes with pedal assistance, riders may cycle more quickly and effortlessly since the motor produces significant strength, making pedal-assisted the largest propulsion type.
Largest Segment by Application Type
81.25 %
value share, City/Urban, 2023
The use of e-bikes for various applications, such as logistics and e-bike rental services and daily commuting to school and offices, has made the city/urban segment the largest application type.
Largest Segment by Battery Type
49.14 %
value share, Lithium-ion Battery, 2023
Cutting-edge technology, better range offerings, long battery lives, and quick charging features are facilitating the increased use of lithium-ion batteries in e-bicycles.
Fastest-Growing Segment by Propulsion Type
15.88 %
Projected CAGR, Speed Pedelec, 2024-2029
The speed pedelecs segment is expanding at the fastest rate due to rising consumer demand for fast bikes, owing to the requirement of quick traveling in congested areas while also saving fuel costs.
Leading Market Player
11.30 %
market share, Giant Manufacturing Co. Ltd., 2022
Giant Bicycle is the market leader in the South Africa due to its strong brand image and well established supply chain network and wide product offering according to need and purpose of customers.
PROPULSION SEGMENT MARKET OVERVIEW
- The primary growth drivers for the South African e-bike market include increases in fitness consciousness among individuals, environmental concerns, traffic congestion, and government initiatives to promote cycling.
- The COVID-19 pandemic positively impacted bicycle demand in South Africa. Since then, people have been using bicycles for commuting as well as for other activities, including sports, exercise, and hiking. The increased public awareness of pedaling's health advantages is also significantly driving demand. Consumers want vehicles that are safer, more comfortable, and ecologically responsible. To cater to this demand, manufacturers are expected to create a variety of avant-garde pedal-assisted bicycles. Demand for e-bikes for daily commuting has also increased in line with the advent of shared mobility firms.
- As fuel costs and traffic congestion in South Africa grow, the country's administration and people are expected to rely increasingly on electric transportation. Speed pedelecs will soon be the best option since the pedal-assisted bicycle is better suited for shorter journeys. Along with e-bikes serving various purposes, they ultimately result in significant financial savings, less pollution, and simplified mobility. The South African e-bike market is expected to grow during the forecast period.
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South Africa E-bike Market Trends
South Africa's E-Bike adoption rates show steady growth, indicating a developing market and increasing consumer interest.
- The African electric bicycle market is still in its early stages of development but has significant potential for growth. However, several challenges need to be addressed to drive the growth of the African electric bicycle market, including high costs, limited availability of charging infrastructure, and traditional attitudes toward transportation. Many African countries lack the infrastructure and support necessary for the widespread adoption of electric bicycles, and the market heavily depends on imports from other regions.
- The use of e-bikes has become increasingly popular in South Africa over the past few years. Rising interest in bicycle rides and their health benefits, increasing traffic congestion on the roads during rush hours, and expanding government initiatives to promote e-bikes in response to environmental conditions all contribute to this trend. The adoption rate of e-bikes among South Africans also increased to 0.10% in 2020 over 2019 due to the no-fuel expenditures and lower maintenance costs.
- The growing popularity of e-bikes is attributed to several factors, including the ease of riding, no fuel costs compared to other forms of transportation, the environment-friendliness of the rides, the affordability of the vehicles, and the advantages of exercise. The adoption rate of e-bikes in the nation increased by 0.60% in 2022 compared to 2021, and by 2029, the adoption rate is expected to increase by 5.00% in South Africa.
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South Africa exhibits a steady increase in the percentage of population commuting 5-15 km daily, indicating evolving travel distances.
- The demand for bicycles in South Africa has been growing gradually over the past few years. People are gradually adopting bicycle culture, but it is still much less than other means of transport. People are majorly dependent on motor vehicles, due to which the number of commuters ranging from 5 to 15 kilometers is very low. However, owing to the demand for personal mobility during the pandemic, the country witnessed a growth in the number of commuters for short-distance travel during 2020-2021.
- The lockdown effects in 2020 and 2021 significantly contributed to South Africa's increased bicycle demand. This increased demand was due to individuals taking up cycling as a form of exercise and for its health advantages. In many cities, people also started traveling to their usual workplaces, places of business, and other nearby sites by bike. In 2021, the number of commuters traveling 5-15 kilometers by bicycle increased in South Africa compared to 2020.
- Bicycle usage increased due to the removal of COVID-19 restrictions and the restart of commercial operations in South Africa. Many people frequently started riding bicycles to their workplaces, including offices and businesses, due to their many advantages, including carbon-free transportation, fuel efficiency, and time savings in traffic during office hours. Considering such factors, commuters traveling 5-15 kilometers are expected to increase during the forecast period, which is also projected to boost bicycle sales in the future.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- South Africa's bicycle sales show consistent growth, indicating a steady market with increasing consumer interest.
- South Africa's inflation rates show stability post-2022, indicating a market adjusting to economic pressures.
- South Africa's e-bike battery prices are consistently decreasing, reflecting market expansion and technological improvements.
- Growth in Pollution Leading to People Opting for Cleaner Rides
- South Africa's E-bike charging time is steadily decreasing, reflecting technological advancements and improved efficiency in battery charging.
- South Africa's GDP per capita indicates mild recovery and growth, suggesting gradual economic improvement.
- South Africa's bicycle rental market is steadily growing, indicating an emerging market with consistent consumer interest.
- South Africa's hyper-local delivery sector is witnessing steady growth, suggesting a rising consumer interest in localized digital services.
- South Africa's growing trekker numbers indicate an increasing interest in the country's diverse natural landscapes and outdoor adventure opportunities.
- South Africa's Traffic Congestion Index is high but showing a slight downward trend, indicating marginal improvements in managing traffic congestion.
South Africa E-bike Industry Overview
The South Africa E-bike Market is fragmented, with the top five companies occupying 39.65%. The major players in this market are Bridgestone Cycle Co. Ltd., CAMPAGNOLO SRL LA SOCIETA' POTRA' PREMETTERE ALLA DENOMINA ZIONE LA PRECISAZIONE BREVETTI INTERNAZIONALI, Giant Manufacturing Co. Ltd., Orbea S.Coop. and Specialized Bicycle Components (sorted alphabetically).
South Africa E-bike Market Leaders
Bridgestone Cycle Co. Ltd.
CAMPAGNOLO SRL LA SOCIETA' POTRA' PREMETTERE ALLA DENOMINA ZIONE LA PRECISAZIONE BREVETTI INTERNAZIONALI
Giant Manufacturing Co. Ltd.
Orbea S.Coop.
Specialized Bicycle Components
Other important companies include Accell Group, Cannondale Bicycle Corporation, Cervélo Cycles Inc., Dorel Industries Inc., Dorel Industries Inc., Merida Industry Co. Ltd., Merida Industry Co. Ltd., MHW Bike-House GmbH (CUBE Bikes), Riese & Müller, Scott Corporation SA (Scott Sports), Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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South Africa E-bike Market News
- January 2023: Campagnolo and Rapha launch a global partnership. The new partnership means RCC members now have the opportunity to ride Campagnolo’s 13-speed gravel groupset and gravel-specific wheelset, delivering an exclusive experience for global RCC members.
- 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.
- 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.
South Africa 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 Bridgestone Cycle Co. Ltd.
- 6.4.3 CAMPAGNOLO SRL LA SOCIETA' POTRA' PREMETTERE ALLA DENOMINA ZIONE LA PRECISAZIONE BREVETTI INTERNAZIONALI
- 6.4.4 Cannondale Bicycle Corporation
- 6.4.5 Cervélo Cycles Inc.
- 6.4.6 Dorel Industries Inc.
- 6.4.7 Dorel Industries Inc.
- 6.4.8 Giant Manufacturing Co. Ltd.
- 6.4.9 Merida Industry Co. Ltd.
- 6.4.10 Merida Industry Co. Ltd.
- 6.4.11 MHW Bike-House GmbH (CUBE Bikes)
- 6.4.12 Orbea S.Coop.
- 6.4.13 Riese & Müller
- 6.4.14 Scott Corporation SA (Scott Sports)
- 6.4.15 Specialized Bicycle Components
- 6.4.16 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:
- SOUTH AFRICA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- SOUTH AFRICA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- SOUTH AFRICA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- SOUTH AFRICA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- SOUTH AFRICA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- SOUTH AFRICA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- SOUTH AFRICA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- SOUTH AFRICA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- SOUTH AFRICA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- SOUTH AFRICA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- SOUTH AFRICA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- SOUTH AFRICA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- SOUTH AFRICA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- SOUTH AFRICA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- SOUTH AFRICA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- SOUTH AFRICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- SOUTH AFRICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- SOUTH AFRICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- SOUTH AFRICA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- SOUTH AFRICA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- SOUTH AFRICA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
South Africa 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 primary growth drivers for the South African e-bike market include increases in fitness consciousness among individuals, environmental concerns, traffic congestion, and government initiatives to promote cycling.
- The COVID-19 pandemic positively impacted bicycle demand in South Africa. Since then, people have been using bicycles for commuting as well as for other activities, including sports, exercise, and hiking. The increased public awareness of pedaling's health advantages is also significantly driving demand. Consumers want vehicles that are safer, more comfortable, and ecologically responsible. To cater to this demand, manufacturers are expected to create a variety of avant-garde pedal-assisted bicycles. Demand for e-bikes for daily commuting has also increased in line with the advent of shared mobility firms.
- As fuel costs and traffic congestion in South Africa grow, the country's administration and people are expected to rely increasingly on electric transportation. Speed pedelecs will soon be the best option since the pedal-assisted bicycle is better suited for shorter journeys. Along with e-bikes serving various purposes, they ultimately result in significant financial savings, less pollution, and simplified mobility. The South African e-bike market is expected to grow 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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