Sweden Electric Bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 382.13 Million |
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Market Size (2029) | USD 535.07 Million |
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Largest Share by Propulsion Type | Speed Pedelec |
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CAGR (2024 - 2029) | 6.96 % |
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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 |
Sweden Electric Bike Market Analysis
The Sweden E-bike Market size is estimated at 382.13 million USD in 2024, and is expected to reach 535.07 million USD by 2029, growing at a CAGR of 6.96% during the forecast period (2024-2029).
382.13 Million
Market Size in 2024 (USD)
535.07 Million
Market Size in 2029 (USD)
9.49 %
CAGR (2017-2023)
6.96 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
49.22 %
value share, Speed Pedelec, 2023
Affordability, suitability for recreational activities, health advantages, and high load capacity are the factors that anticipate the growth of the pedal-assisted e-bike segment.
Largest Segment by Application Type
72.74 %
value share, City/Urban, 2023
Awareness about the benefits of bicycles, like faster commuting in traffic, easier parking, and fuel saving, has made the city/urban bikes the largest application segment.
Largest Segment by Battery Type
99.59 %
value share, Lithium-ion Battery, 2023
The lithium-ion battery segment is the largest segment by battery type. The adoption of Li-ion batteries can reduce the size and weight of the battery pack and extend the vehicle’s range.
Fastest-growing Segment by Propulsion Type
8.39 %
Projected CAGR, Speed Pedelec, 2024-2029
People prefer speed pedelecs over other bikes because they can avoid traffic and save fuel costs, which led to the segment's quick growth.
Leading Market Player
21.75 %
market share, Royal Dutch Gazelle, 2022
Gazelle is a market leader in the Sweden e-bike market. The company has over 100 year of experience in bicycle industry and has been producing quality bikes for over 125 years.
PROPULSION SEGMENT MARKET OVERVIEW
- The e-bike market in Sweden experienced a surge in demand following the COVID-19 pandemic. The pandemic led to increased interest in outdoor activities, including cycling, and e-bikes, in particular, emerged as a popular choice for commuting, running errands, and leisurely rides. The Swedish government has also introduced several initiatives to promote the use of e-bikes, such as providing financial incentives for purchasing e-bikes and investing in the development of cycling infrastructure. In addition, several cities in Sweden, such as Stockholm and Gothenburg, have implemented bike-sharing schemes that include e-bikes as part of their fleets.
- According to a report by the Swedish Energy Agency, the e-bike market in Sweden was growing steadily, with sales increasing by 50% between 2017 and 2020. The report also noted that the e-bike market was expected to continue its growth trajectory in the coming years, driven by factors such as increasing environmental awareness, government initiatives to promote cycling, and technological advancements in e-bike design.
- In Sweden, around 80% of all urban car trips are less than 4km, suggesting that biking or walking could replace driving. By 2025, 25% of travel distances are expected to be covered by bicycle, foot, or public transportation, according to the Swedish government. By 2025, Gothenburg plans for 12% of all the trips taken in the city to be by bike. The European Commission has separately targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Sweden's cycling numbers are expected to rise in the coming years as a result of citywide, national, and continental goals, thus increasing e-bike sales.
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Sweden E-bike Market Trends
Sweden's E-Bike adoption rates indicate a steady and healthy market growth, with increasing consumer acceptance.
- Sweden has witnessed significant demand growth for e-bikes over the past few years due to their advantages over traditional bicycles. Advantages, such as comfortable riding with minimal effort, zero carbon emissions, time-saving during peak traffic hours, and cost efficiency, are contributing to the adoption of e-bikes over other vehicles for daily commuting to nearby places. As a result, the adoption rate of e-bikes increased by 5.4% in 2019 over 2018.
- The COVID-19 pandemic and the increasing number of cases positively affected the Swedish e-bike market. People's growing preference for personal vehicles and avoidance of public and rented transportation highly contributed to the growth of e-bikes across the country. Thus, people invested in e-bikes as a convenient and price-friendly option for daily commuting to offices and nearby places, boosting their adoption rate by 6.2% in 2020.
- The relaxation in restrictions and the resumption of business operations and offices led to a gradual growth in the demand for e-bikes across Sweden. New product launches with advanced features, such as fast charging capacity, longer range, and exercise tracking, are also highly encouraging consumers to invest in e-bikes. Therefore, the adoption rate of e-bikes in Sweden is expected to reach 72.50% in 2029.
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Sweden demonstrates a steady increase in the percentage of commuters traveling 5-15 km daily, reflecting consistent commuting habits.
- Every year, the usage of bicycles for transportation rises in Sweden, driving the demand for bicycles among individual cyclists, especially those who prefer this mode of commute in a range of 5-15 km per day. In 2020, close to 10% of individuals in Sweden used bicycles as their primary mode of transportation to travel 5-15 km daily to various locations, including offices, enterprises, and schools.
- Growth in the number of COVID-19 cases in Sweden resulted in a shutdown of gyms and public transit. Thus, many Swedish people rediscovered bicycles as a safe, socially isolating mode of transportation. During the pandemic wave, people chose to exercise through cycling or engaging in recreational runs to nearby locations, which increased the number of commuters within the range of 5-15 km by 0.1% in 2021. The introduction of e-bikes with advanced battery packs to provide an improved range of up to 40- 45 km also boosted their demand among consumers who travel a distance of 5-15 km daily.
- During the pandemic, people used bicycles for daily travel to shorter distances, such as 5-15 km, including their workplaces and markets. In 2022, about 72.5% of people traveled to work daily on bicycles. Improvements in bicycle infrastructure and bike lanes in the country are expected to increase the demand for bicycles and the number of commuters within 5-15 km during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Sweden's bicycle sales display consistent growth, reflecting a stable market with an enduring interest in cycling.
- Sweden's inflation rates indicate a peak in 2022, followed by a trend towards stabilization, demonstrating economic resilience.
- Sweden's e-bike battery prices show a downward trend, signaling increased market adoption and cost efficiencies.
- Sweden's consistent growth in dedicated bicycle lanes indicates a strong commitment to cycling as a sustainable and healthy mode of transportation.
- Sweden's E-bike charging time is on a downward trend, indicating advancements in electric vehicle technology and a focus on sustainable transport.
- Sweden's GDP per capita reveals consistent growth, highlighting a strong economy with a focus on innovation.
- Sweden's bicycle rental market shows a substantial rise post-2020, maintaining steady growth and indicating a strong consumer base.
- Sweden's hyper-local delivery sector is on the rise, reflecting a market trend towards localized and convenient digital services.
- Sweden's trekker community is expanding, indicating strong engagement with the country's vast natural landscapes and a growing interest in outdoor and wilderness activities.
- Sweden's Traffic Congestion Index shows a slight decrease, indicating potential improvements in traffic management or a shift in commuting patterns.
Sweden Electric Bike Industry Overview
The Sweden E-bike Market is moderately consolidated, with the top five companies occupying 62.63%. The major players in this market are Blix Electric Bikes, Giant Manufacturing Co. Ltd, Kalkhoff Werke GmbH, Royal Dutch Gazelle and VanMoof BV (sorted alphabetically).
Sweden Electric Bike Market Leaders
Blix Electric Bikes
Giant Manufacturing Co. Ltd
Kalkhoff Werke GmbH
Royal Dutch Gazelle
VanMoof BV
Other important companies include Batavus Intercycle Corporation, Cowboy, Ecoride AB, Royal Dutch Gazelle, Swagtron, Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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Sweden Electric Bike Market News
- 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: Ecoride is continuing its growth journey, so is relocating from Poland to its new factory in Gothenburg, Sweden.
- August 2022: Blix launched a new e-bike Dubbel having a V-shaped frame, the Dubbel Frame Bag mounts easily to allow for maximized smart storage.
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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.
Sweden Electric 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 Batavus Intercycle Corporation
- 6.4.2 Blix Electric Bikes
- 6.4.3 Cowboy
- 6.4.4 Ecoride AB
- 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 Swagtron
- 6.4.10 Trek Bicycle Corporation
- 6.4.11 VanMoof 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:
- SWEDEN E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- SWEDEN E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- SWEDEN E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- SWEDEN E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- SWEDEN E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- SWEDEN E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- SWEDEN E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- SWEDEN E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- SWEDEN E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- SWEDEN E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- SWEDEN E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- SWEDEN E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- SWEDEN E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- SWEDEN E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- SWEDEN E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- SWEDEN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- SWEDEN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- SWEDEN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- SWEDEN E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- SWEDEN E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- SWEDEN E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Sweden 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 e-bike market in Sweden experienced a surge in demand following the COVID-19 pandemic. The pandemic led to increased interest in outdoor activities, including cycling, and e-bikes, in particular, emerged as a popular choice for commuting, running errands, and leisurely rides. The Swedish government has also introduced several initiatives to promote the use of e-bikes, such as providing financial incentives for purchasing e-bikes and investing in the development of cycling infrastructure. In addition, several cities in Sweden, such as Stockholm and Gothenburg, have implemented bike-sharing schemes that include e-bikes as part of their fleets.
- According to a report by the Swedish Energy Agency, the e-bike market in Sweden was growing steadily, with sales increasing by 50% between 2017 and 2020. The report also noted that the e-bike market was expected to continue its growth trajectory in the coming years, driven by factors such as increasing environmental awareness, government initiatives to promote cycling, and technological advancements in e-bike design.
- In Sweden, around 80% of all urban car trips are less than 4km, suggesting that biking or walking could replace driving. By 2025, 25% of travel distances are expected to be covered by bicycle, foot, or public transportation, according to the Swedish government. By 2025, Gothenburg plans for 12% of all the trips taken in the city to be by bike. The European Commission has separately targeted the promotion of electromobility and cycling as clean and effective transportation options for sustainable urban mobility. Sweden's cycling numbers are expected to rise in the coming years as a result of citywide, national, and continental goals, thus increasing e-bike sales.
| 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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