United States E-bike Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 3.41 Billion |
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Market Size (2029) | USD 7.49 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 17.03 % |
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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 |
United States E-bike Market Analysis
The United States E-bike Market size is estimated at 3.41 billion USD in 2024, and is expected to reach 7.49 billion USD by 2029, growing at a CAGR of 17.03% during the forecast period (2024-2029).
3.41 Billion
Market Size in 2024 (USD)
7.49 Billion
Market Size in 2029 (USD)
26.47 %
CAGR (2017-2023)
17.03 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.56 %
value share, Pedal Assisted, 2023
The advantages of pedal-assisted e-bikes, such as affordability, better battery life, lower servicing needs, and the ability of users to choose from the three to five modes of pedal assist, are anticipated to lead the growth of this category.
Largest Segment by Application Type
81.98 %
value share, City/Urban, 2023
With the increasing number of consumers and the rising awareness about the benefits of e-bikes, like faster commuting in traffic-congested areas and easier parking, the demand for e-bikes has risen in recent years.
Largest Segment by Battery Type
91.25 %
value share, Lithium-ion Battery, 2023
The Li-ion battery segment held the major share in the market owing to lesser weight and higher energy density features, which provide riders with more range per charge than other types of batteries.
Fastest-growing Segment by Propulsion Type
19.90 %
Projected CAGR, Speed Pedelec, 2024-2029
Government support in the form of incentives and subsidies, coupled with the falling Li-ion battery prices, is boosting the growth of the segment. The COVID-19 pandemic led to the demand for personal mobility, which is also supporting the growth.
Leading Market Player
6.92 %
market share, Trek Bicycle Corporation, 2022
Trek is the market leader in the US e-bike market. Headquartered in Waterloo, Trek has over 150 stores in the United States and offers a variety of bikes under the brand names Trek, Electra, and Bontrager.
Propulsion segment market overview
- The electric vehicle industry is steadily changing the automotive industry's landscape with the introduction of more effective and potent electric automobiles every year. Pedal-assisted and speed pedelec e-bikes are used in a wide range of industries and applications across the United States. They are seen as a cleaner and greener mode of transportation for short distances. Several e-bike producers raised funds for company expansions due to a spike in e-bike imports and sales across the country. According to the Light Electric Vehicle Association, in 2021, 7,900,00 e-bikes were imported into the country, 1.8 times more than in 2020.
- Due to the COVID-19 pandemic, pedal-assisted e-bikes have gained popularity across the country. Consumers have become more interested in their health and well-being. By 2021, 60% of trips in the United States were estimated to be less than 5 miles, which can be easily covered by an e-bike. The COVID-19 pandemic had a mixed impact on the market, with initial lockdowns and shutdowns of manufacturing units resulting in a slump in demand. However, as restrictions eased, demand for e-bikes gained significant momentum, with various dealers in the United States reporting more than a 100% increase in Y-o-Y sales.
- Increasing government investments in bike-sharing programs, bike lanes, and more pedestrian-friendly streets are likely to raise consumer interest in speed pedelec and throttle-assisted e-bikes in the future. During the forecast period, investments in city road infrastructure for e-bikes are also expected to boost the e-bike market. The current investments, funding, and initiatives are helping boost the sales of e-bikes across the country.
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United States E-bike Market Trends
The US shows a consistent and strong increase in E-Bike adoption rates, indicating a growing popularity and market expansion.
- Over the past few years, bicycles have gradually become one of the popular modes of daily commuting in the United States. The introduction of e-bikes also surged the demand for bicycles in recent years. Rising pollution and traffic conditions, along with rising fuel prices, have boosted the adoption of e-bikes across the country. E-bikes are gaining popularity among a range of age groups. People between the age of 50 and above are also showing high interest in these bikes. As a result, the adoption rate for e-bikes increased by 2.4% in 2019 compared to 2018.
- The COVID-19 pandemic in 2020 had a positive impact on the US e-bike market. Factors such as social distancing measures and anxiety among people about using public transportation resulted in changing travel preferences among consumers, further boosting the adoption of e-bicycles by 2.7% in 2020 compared to 2019.
- E-bike companies are launching new models with advanced technologies to attract customers in the United States and boost their sales significantly. Consumer preferences for a cleaner and healthier ride while saving fuel costs are also contributing to the higher adoption rate of e-bicycles. Owing to such factors, the country witnessed a rise of 3% in the e-bike adoption rate in 2021 compared to 2020, which is projected to grow by 12.24% during the forecast period.
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The US shows a steady increase in the population with a 5-15 km daily travel distance, indicating a consistent commuting pattern.
- Over the past few years, the United States has witnessed significant demand for bicycles. Though there is rising demand for bicycles, their use in the commute of 5-15 km is still low compared to the other modes of transportation, as the majority of people use personal automobiles for office and business commutes. Only 0.6% of the workers across the United States opted for bicycles as a mode of transport in 2019.
- In 2020, millions of Americans rediscovered bicycles as a safe, socially distant method of transportation after the COVID-19 outbreak. The introduction of e-bikes with advanced battery packs that provide an enhanced range of up to 40-45 km is also boosting the demand from consumers who have a daily travel distance of 5-15 km. During the pandemic, bicycles also became a preferred form of exercise among people due to the closure of gyms and fitness clubs.
- However, post the pandemic, many people continued using bicycles to commute to work, offices, businesses, and marketplaces within a range of 5-15 km. More than 15% of the users used bicycles as a mode of transport in 2022. Bicycles offer health benefits, carbon-free rides, no fuel costs, and time-saving in traffic congestion. These benefits are highly contributing to the rising adoption of bicycles, which may further boost the market in the country during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The US shows a gradual increase in bicycle sales, indicating a steady market with growing interest in cycling post-2020.
- Inflation rates peaked in 2022, followed by a trend towards stabilization, indicating a recovering and adjusting economy.
- The e-bike battery price in the US is progressively declining, reflecting technological advancements and increased market competition.
- The US hyper-local delivery sector is experiencing substantial growth, indicating a significant shift in consumer behavior towards localized online services.
- The number of trekkers in the US shows a robust and continuous growth, indicating an increasing enthusiasm for trekking and outdoor activities across the country.
- Spain's Traffic Congestion Index shows minor fluctuations, suggesting relatively stable traffic conditions with room for congestion management improvements.
- Steady growth in GDP per capita indicates a robust economy, with a slight dip in 2020 followed by a strong recovery.
- The US bicycle rental market is on an upward trajectory, showcasing resilience and growth with an expected continued increase through 2029.
- Li-ion battery is gaining share in United States e-bike market
- The gradual increase in dedicated bicycle lanes in Africa South suggests a steady but slow adoption of cycling-friendly infrastructure.
- France's E-bike charging time is on a downward trend, indicating the country's commitment to promoting electric mobility and enhancing charging technology.
United States E-bike Industry Overview
The United States E-bike Market is fragmented, with the top five companies occupying 30.99%. The major players in this market are Cycling Sports Group, Inc., Giant Manufacturing Co., Pon Holdings B.V., Specialized Bicycle Components Inc. and Trek Bicycle Corporation (sorted alphabetically).
United States E-bike Market Leaders
Cycling Sports Group, Inc.
Giant Manufacturing Co.
Pon Holdings B.V.
Specialized Bicycle Components Inc.
Trek Bicycle Corporation
Other important companies include Ariel Rider, Propella Electric Bikes, Rad Power Bikes, Ride Aventon Inc., VanMoof.
*Disclaimer: Major Players sorted in alphabetical order.
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United States E-bike Market News
- November 2022: Cannondale announced a new global unified organizational structure that may eliminate regional GMs and leverage Pon.Bike to enhance the company’s operations and growth.
- November 2022: Cannondale entered the urban e-mobility market with the Compact Neo electric bicycle.
- September 2022: In May 2021, Specialized announced a recall of some battery packs on specific electric mountain bike models due to fire hazards caused by these batteries.
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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.
United States 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 Ariel Rider
- 6.4.2 Cycling Sports Group, Inc.
- 6.4.3 Giant Manufacturing Co.
- 6.4.4 Pon Holdings B.V.
- 6.4.5 Propella Electric Bikes
- 6.4.6 Rad Power Bikes
- 6.4.7 Ride Aventon Inc.
- 6.4.8 Specialized Bicycle Components Inc.
- 6.4.9 Trek Bicycle Corporation
- 6.4.10 VanMoof
- *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:
- CONVETIONAL AND E-BIKE SALES, VOLUME IN UNITS, US, 2017 - 2029
- Figure 2:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, US, 2017 - 2029
- Figure 3:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, US, 2017 - 2029
- Figure 4:
- E-BIKE MARKET PENETRATION RATE, VOLUME PERCENTAGE, US, 2017 - 2029
- Figure 5:
- PROPORTION OF 5-15 KM DAILY TRAVELERS, PERCENTAGE, US, 2017 - 2029
- Figure 6:
- BICYCLE RENTAL SERVICE MARKET, REVENUE IN USD, US, 2016 - 2028
- Figure 7:
- COST OF LI-ION BATTERIES FOR E-BIKES, VALUE IN USD PER KWH, US, 2016 - 2028
- Figure 8:
- E-BIKE BATTERY TYPE PRICE COMPARISON, USD PER KWH, US, 2017 - 2029
- Figure 9:
- HYPER LOCAL DELIVERY SERVICE MARKET, REVENUE IN USD, US, 2016 - 2028
- Figure 10:
- LENGTH OF DEDICATED BICYCLE LANES, KM, US, 2017 - 2022
- Figure 11:
- TREKKER POPULATION, UNIT, US, 2016 - 2028
- Figure 12:
- AVERAGE CHARGING TIME OF E-BIKE BATTERIES, HOURS, US, 2016 - 2028
- Figure 13:
- TRAFFIC CONGESTION INTENSITY INDEX, US, 2017 - 2022
- Figure 14:
- UNITED STATES E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- UNITED STATES E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- UNITED STATES E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- UNITED STATES E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- UNITED STATES E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- UNITED STATES E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- E-BIKE MARKET, BY PROPULSION TYPE, PEDAL ASSISTED, VOLUME, UNITS, US, 2017 - 2029
- Figure 21:
- E-BIKE MARKET, BY PROPULSION TYPE, PEDAL ASSISTED, VALUE, USD, US, 2017 - 2029
- Figure 22:
- BREAKDOWN OF PEDAL ASSISTED E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 23:
- E-BIKE MARKET, BY PROPULSION TYPE, SPEED PEDELEC, VOLUME, UNITS, US, 2017 - 2029
- Figure 24:
- E-BIKE MARKET, BY PROPULSION TYPE, SPEED PEDELEC, VALUE, USD, US, 2017 - 2029
- Figure 25:
- BREAKDOWN OF SPEED PEDELEC E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 26:
- E-BIKE MARKET, BY PROPULSION TYPE, THROTTLE ASSISTED, VOLUME, UNITS, US, 2017 - 2029
- Figure 27:
- E-BIKE MARKET, BY PROPULSION TYPE, THROTTLE ASSISTED, VALUE, USD, US, 2017 - 2029
- Figure 28:
- BREAKDOWN OF THROTTLE ASSISTED E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 29:
- UNITED STATES E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- UNITED STATES E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- UNITED STATES E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- UNITED STATES E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- E-BIKE MARKET, BY APPLICATION TYPE, CARGO/UTILITY, VOLUME, UNITS, US, 2017 - 2029
- Figure 34:
- E-BIKE MARKET, BY APPLICATION TYPE, CARGO/UTILITY, VALUE, USD, US, 2017 - 2029
- Figure 35:
- BREAKDOWN OF CARGO/UTILITY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 36:
- E-BIKE MARKET, BY APPLICATION TYPE, CITY/URBAN, VOLUME, UNITS, US, 2017 - 2029
- Figure 37:
- E-BIKE MARKET, BY APPLICATION TYPE, CITY/URBAN, VALUE, USD, US, 2017 - 2029
- Figure 38:
- BREAKDOWN OF CITY/URBAN E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 39:
- E-BIKE MARKET, BY APPLICATION TYPE, TREKKING, VOLUME, UNITS, US, 2017 - 2029
- Figure 40:
- E-BIKE MARKET, BY APPLICATION TYPE, TREKKING, VALUE, USD, US, 2017 - 2029
- Figure 41:
- BREAKDOWN OF TREKKING E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 42:
- UNITED STATES E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- UNITED STATES E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- UNITED STATES E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- UNITED STATES E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- E-BIKE MARKET, BY BATTERY TYPE, LEAD ACID BATTERY, VOLUME, UNITS, US, 2017 - 2029
- Figure 47:
- E-BIKE MARKET, BY BATTERY TYPE, LEAD ACID BATTERY, VALUE, USD, US, 2017 - 2029
- Figure 48:
- BREAKDOWN OF LEAD ACID BATTERY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 49:
- E-BIKE MARKET, BY BATTERY TYPE, LITHIUM-ION BATTERY, VOLUME, UNITS, US, 2017 - 2029
- Figure 50:
- E-BIKE MARKET, BY BATTERY TYPE, LITHIUM-ION BATTERY, VALUE, USD, US, 2017 - 2029
- Figure 51:
- BREAKDOWN OF LITHIUM-ION BATTERY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 52:
- E-BIKE MARKET, BY BATTERY TYPE, OTHERS, VOLUME, UNITS, US, 2017 - 2029
- Figure 53:
- E-BIKE MARKET, BY BATTERY TYPE, OTHERS, VALUE, USD, US, 2017 - 2029
- Figure 54:
- BREAKDOWN OF OTHERS E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), US, 2023 VS 2029
- Figure 55:
- UNITED STATES E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
- Figure 56:
- UNITED STATES E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
- Figure 57:
- UNITED STATES E-BIKE MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2022
United States 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 electric vehicle industry is steadily changing the automotive industry's landscape with the introduction of more effective and potent electric automobiles every year. Pedal-assisted and speed pedelec e-bikes are used in a wide range of industries and applications across the United States. They are seen as a cleaner and greener mode of transportation for short distances. Several e-bike producers raised funds for company expansions due to a spike in e-bike imports and sales across the country. According to the Light Electric Vehicle Association, in 2021, 7,900,00 e-bikes were imported into the country, 1.8 times more than in 2020.
- Due to the COVID-19 pandemic, pedal-assisted e-bikes have gained popularity across the country. Consumers have become more interested in their health and well-being. By 2021, 60% of trips in the United States were estimated to be less than 5 miles, which can be easily covered by an e-bike. The COVID-19 pandemic had a mixed impact on the market, with initial lockdowns and shutdowns of manufacturing units resulting in a slump in demand. However, as restrictions eased, demand for e-bikes gained significant momentum, with various dealers in the United States reporting more than a 100% increase in Y-o-Y sales.
- Increasing government investments in bike-sharing programs, bike lanes, and more pedestrian-friendly streets are likely to raise consumer interest in speed pedelec and throttle-assisted e-bikes in the future. During the forecast period, investments in city road infrastructure for e-bikes are also expected to boost the e-bike market. The current investments, funding, and initiatives are helping boost the sales of e-bikes across the country.
| 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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