Spain E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.03 Billion |
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Market Size (2029) | USD 1.52 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 8.22 % |
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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 |
Spain E-bike Market Analysis
The Spain E-bike Market size is estimated at 1.03 billion USD in 2024, and is expected to reach 1.52 billion USD by 2029, growing at a CAGR of 8.22% during the forecast period (2024-2029).
1.03 Billion
Market Size in 2024 (USD)
1.52 Billion
Market Size in 2029 (USD)
25.65 %
CAGR (2017-2023)
8.22 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.17 %
value share, Pedal Assisted, 2023
The extensive use of continuous throttle-assisted propulsion is prohibited by national law in Spain. Hence, the pedal-assisted segment is the largest segment by propulsion type.
Largest Segment by Application Type
77.55 %
value share, City/Urban, 2023
With the rapidly growing courier services in urban areas and companies trying to manage quick service with lower operating costs, the demand for e-bikes is growing in the region, making the city/urban bikes segment the largest segment by application type.
Largest Segment by Battery Type
100 %
value share, Lithium-ion Battery, 2023
Due to their lightweight, quick charging abilities, high range, prolonged lifespan, and high energy, lithium batteries are the most popular in the market.
Fastest-growing Segment by Application Type
8.25 %
Projected CAGR, Trekking, 2024-2029
The cargo/utility segment is the fastest-growing due to the ongoing commercial expansion and the rising last-mile deliveries from various online consumers, restaurants, and pharmaceuticals.
Leading Market Player
10.33 %
market share, Giant Manufacturing Co. Ltd., 2022
High brand awareness, strong product lines, great R&D capabilities focused on innovation, and a wide range of product offerings are making Giant the largest market player in Italy.
PROPULSION SEGMENT MARKET OVERVIEW
- The COVID-19 pandemic rapidly boosted the e-bike market by accelerating sales and transforming consumers’ cycling attitudes. Many people are still avoiding public transportation or reducing their reliance on it. In the past year, there was a significant shift in how people spent their weekends, such as indulging in adventure and sports activities.
- Over the long term, the e-bike market in Spain is expected to grow due to the increased presence of bike-sharing companies, growing e-commerce activities across the country where e-bikes are used to deliver parcels, and due to government initiatives to increase the usage of bicycles by improving the bicycle infrastructure.
- In Spain, around 80% of all urban car trips are less than 4 km, suggesting that biking or walking could replace driving. The continued government support and incentives, such as tax breaks, subsidies, and infrastructure investments, could also help stimulate the e-bike market in Spain. These incentives can make e-bikes more accessible and affordable for consumers, as well as improve infrastructure to make cycling safer and more convenient. The European Commission has targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Thus, due to such goals, Spain's cycling numbers may rise in the coming years.
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Spain E-bike Market Trends
Spain's E-Bike adoption rates show steady growth, indicating an increasing market presence and consumer acceptance.
- The demand for bicycles is rising significantly across the population of Spain over the past few years. Moreover, the advantages of the e-bike over the traditional bicycle have surged the demand for e-bikes across Spain. Convenient riding, pollution-free and time-saving, and cost-efficient are some of the major factors contributing to the adoption of e-bikes over other vehicles for daily commuting to nearby places. As a result, the adoption rate for e-bikes has increased by 3% in 2019 over the year 2018.
- The continuous growth in the pandemic cases in 2020 made a positive impacted the e-bike market positively, as due to the anxiety issue of corona people started avoiding public transport and rental services, which hiked the demand for personal vehicles such as e-bicycles. An increase in the sales of e-bikes among the people of Spain has further accelerated the adoption rate of e-bikes by 1.60% in 2020 over the year 2019 in various areas of Spain.
- The awareness of e-bikes among the population of the country is changing the mindset of the consumer, factors such as effortless riding, no fuel expenses as compared to other vehicles, eco-friendly rides, affordable price of the vehicles, and exercising benefits are responsible for the growth of e-bikes. The country has witnessed an e-bike adoption rate of 0.60% in 2021 over 2020, which is projected to reach 56.40% by 2029 during the forecast period in the Spain.
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Spain demonstrates a steady increase in the population commuting 5-15 km daily, reflecting evolving travel habits.
- People have shown interest in traveling by bicycle, and due to this, the demand for bicycles has significantly increased throughout the nation in recent years. The demand for bicycles is increasing, but the daily commute to various workplaces, such as offices, businesses, and markets, with a range of 5-15 kilometres, is still low compared to other modes of transportation, as the majority of people are using personal automobiles for daily usage. In Spain, only close to 6% of workers will choose to commute by bicycle in 2020.
- Concerns about COVID-19 and the pandemic wave significantly and favorably affected the bicycle market in Spain. People opted to commute to work by walking or cycling rather than using public transit. Less people used public transportation after the pandemic's effects, due to which the number of people who commuted daily by bicycle increased by more than 0.3% in 2021 over 2020, and the release of e-bikes with advanced features and longer battery lives encouraged more people to choose bicycles, which further increased the number of commuters who made trips of 5 to 15 kilometers in 2021 over 2020 throughout Spain.
- In areas between 5 and 15 kilometres, many people now commute to their daily jobs by bicycle, including trips to their places of employment, places of business, and adjacent markets. Additionally, 12% of those who work commute each day by bicycle in 2022. The number of persons using bicycles for transportation to work has increased by 0.4% in 2022 over 2021, improvements in cycling infrastructure and the expansion of bicycle lanes are expected to increase bicycle demand and commuters between 5 to 15 km during the forecast period in Spain.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Spain's bicycle sales show a notable increase in 2020 with continued growth, indicating a thriving market with growing consumer interest.
- Spain demonstrates a peak in inflation in 2022, followed by a trend towards lower rates, indicating economic recovery.
- Spain's e-bike battery prices are trending downwards, suggesting market penetration and improved cost structures.
- Spain's growth in dedicated bicycle lanes indicates a growing emphasis on cycling infrastructure to enhance urban mobility and promote a healthy lifestyle.
- Spain shows a steady decrease in E-bike charging times, reflecting the country's advancements in electric mobility and efficient battery technology.
- Spain's GDP per capita indicates gradual growth, reflecting economic recovery and development.
- Spain's bicycle rental market shows significant growth post-2020 with a steady upward trend, indicating robust revival and sustained interest.
- Spain's hyper-local delivery sector is expanding, suggesting a significant adaptation by consumers towards localized online solutions.
- Spain shows steady growth in trekker numbers, indicative of sustained interest in its diverse landscapes and outdoor recreational activities.
- Spain's Traffic Congestion Index shows minor fluctuations, suggesting relatively stable traffic conditions with room for congestion management improvements.
Spain E-bike Industry Overview
The Spain E-bike Market is fragmented, with the top five companies occupying 28.85%. The major players in this market are BH Bikes Europe SL, DECATHLON (B-Twin), Giant Manufacturing Co. Ltd., Orbea S.Coop. and Trek Bicycle Corporation (sorted alphabetically).
Spain E-bike Market Leaders
BH Bikes Europe SL
DECATHLON (B-Twin)
Giant Manufacturing Co. Ltd.
Orbea S.Coop.
Trek Bicycle Corporation
Other important companies include Accell Nederland BV (Koga), CUBE Bikes, Merida Industry Co. Ltd., Merida Industry Co. Ltd., MHW Bike-House-GmbH, Scott Corporation SA (Scott Sports).
*Disclaimer: Major Players sorted in alphabetical order.
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Spain E-bike Market News
- December 2022: Spanish bike company BH Bikes launched there the Core Cross City electric bike.
- December 2022: B-twin Elops LD500E e-bike launches for urban rides with 115 km range.
- 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.
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.
Spain 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 Nederland BV (Koga)
- 6.4.2 BH Bikes Europe SL
- 6.4.3 CUBE Bikes
- 6.4.4 DECATHLON (B-Twin)
- 6.4.5 Giant Manufacturing Co. Ltd.
- 6.4.6 Merida Industry Co. Ltd.
- 6.4.7 Merida Industry Co. Ltd.
- 6.4.8 MHW Bike-House-GmbH
- 6.4.9 Orbea S.Coop.
- 6.4.10 Scott Corporation SA (Scott Sports)
- 6.4.11 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:
- SPAIN E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- SPAIN E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- SPAIN E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- SPAIN E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- SPAIN E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- SPAIN E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- SPAIN E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- SPAIN E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- SPAIN E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- SPAIN E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- SPAIN E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- SPAIN E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- SPAIN E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- SPAIN E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- SPAIN E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- SPAIN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- SPAIN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- SPAIN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- SPAIN E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- SPAIN E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- SPAIN E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Spain 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 COVID-19 pandemic rapidly boosted the e-bike market by accelerating sales and transforming consumers’ cycling attitudes. Many people are still avoiding public transportation or reducing their reliance on it. In the past year, there was a significant shift in how people spent their weekends, such as indulging in adventure and sports activities.
- Over the long term, the e-bike market in Spain is expected to grow due to the increased presence of bike-sharing companies, growing e-commerce activities across the country where e-bikes are used to deliver parcels, and due to government initiatives to increase the usage of bicycles by improving the bicycle infrastructure.
- In Spain, around 80% of all urban car trips are less than 4 km, suggesting that biking or walking could replace driving. The continued government support and incentives, such as tax breaks, subsidies, and infrastructure investments, could also help stimulate the e-bike market in Spain. These incentives can make e-bikes more accessible and affordable for consumers, as well as improve infrastructure to make cycling safer and more convenient. The European Commission has targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Thus, due to such goals, Spain's cycling numbers may rise in the coming years.
| 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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