Harrisburg, NC -- (SBWIRE) -- 10/15/2020 -- The Electric Bikes Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global electric bikes market is expected to grow from $18.88 billion in 2019 and to $19.17 billion in 2020 at a growth rate of 1.54%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $24.52 billion in 2023 at CAGR of 8.56%.
The electric bikes market consists of sales of electric bikes and related services for transportation purposes. The electric bike has an integrated electric motor, pedals and rechargeable batteries for forwarding propulsion. Rechargeable batteries vary according to the voltage, total charge capacity (amp hours), weight. Depending upon motor and rechargeable battery used in E-bikes its prices vary accordingly.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Electric Bikes Market: Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Trek Bikes, Mahindra & Mahindra Ltd., BionX International Corporation., JIANGSU XINRI E-VEHICLE CO., LTD., Robert Bosch GmbH, Derby Cycle Holding GmbH, and Panasonic Corp.
Industry News and Updates:
July 29, 2020: Yamaha Reveals All-New YDX-MORO All-Mountain e-Bikes
CYPRESS, Calif., July 29, 2020 (GLOBE NEWSWIRE) -- Yamaha Bicycles is taking a massive leap into the all-mountain e-Bike segment today, announcing the coming of two new models. The YDX-MORO and YDX-MORO Pro models promise to deliver a new level of balanced power, performance and handling for riders on all types of e-mountain bike (e-MTB) trails.With a full list of specs, components, pricing and availability to be announced in August.
Influenced by Yamaha's unmatched experience in racing technology and e-Bike design, the all-new YDX-MORO and YDX-MORO Pro look and ride like no other e-MTB. Boasting an all-new PW-X2 drive unit, the bikes deliver the most natural feeling assist and ride experience thanks to a new proprietary Quad Sensor System, and include new Automatic, MTB and Walk Assist modes. The PW-X2 drive unit and new 500 watt-hour lithium-ion battery are secured in an all-new patent pending Dual Twin Frame™ design that delivers a superior combination of handling performance and durability, along with a new Horst link suspension design.
6 Mar 2020: Accell Group Reports Increase in Turn-Over and Less Profit
HEERENVEEN, the Netherlands – Accell Group NV saw its net turnover in 2019 increase by 7.5% to 1,111 mio euro compared with 2018. The operating result was 16.6% higher than the year before and ended at 60 million euro. However Accell Group also saw its net profit drop from 20.8 million euro in 2018 to 2.8 million euro in 2019. This is the result of the discontinued North American activities.
The main drivers for Accell Group's increased revenues are the e-bike and the (e-)cargo bike with sales growth in all regions. Ton Anbeek, CEO Accell Group said today: "We are well on track with our 'Lead global. Win local' strategy. In 2019, we booked higher top line growth, a higher added value and a solid net profit. Excluding the disposal of the North American business, the net profit was slightly behind last year due to additional investments and costs made under our strategic agenda and transition roadmap."
15 August, 2019: Giant scores 5.3% H1 revenue uptick on European electric bike success
Giant Bicycles first half financial report has delivered a 5.3% rise in revenue driven largely by European electric bike sales. Also helped along by recovering sales closer to home, the demand in China also increased leading revenues to hit NT$30.71 billion (978.4 million).
The Taiwanese bike maker managed to turn out 290,000 bikes in the first six months of 2019, from which 28% ($273.9 million) of the overall revenue came. This gain assisted the bike maker in improving its post-tax income, which rose 60.1% over last year's figures. Earnings per share therefore rose by 25% to NT$4.59 (15 cents). The company told investors that all key markets saw healthy growth with Europe leading with double digit growth in H1. A healthy 40% was added like-for-like, primarily down to pedal assisted sales.
Stateside growth was described as "healthy" for normal bicycles, while electric sales rose in the low teens for H1. Children's bicycles only grew a little. Forecasts for the second half are now expected to carry the momentum of the year to date. The 2020 bike launches just released are said to be "well received" by retail partners.
Key Market Trends
Asia Pacific was the largest region in the electric bikes market in 2019.The companies operating in the electric bike market have started implementing artificial intelligence to increase the efficiency of electric bikes. Artificial intelligence is being used to provide features such as swipe start, geotagging, real-time battery checking and antitheft features. Following the trend, in 2019, Revolt launched its RV 400 electric bike in India equipped with AI capabilities. The bike when charged for 4 hours can travel up to a distance of 156km.It allows connectivity with android and IOS phones to enable the user to check the range, total riding hours and real-time diagnostics. Thus, the major players in the industry are investing towards the trend of implementing AI in e-bikes.
High purchase cost and maintenance cost of electric bikes (E-bikes) are expected to limit the growth of the E-bikes market. E-bike has an integrated electric motor and rechargeable batteries for forwarding propulsion. E-bikes are expensive because of their battery and motor installed in it. According to eBikesHQ article, E-bikes range in cost between $600 to over $8000 which is not an affordable option for a lot of people in developing countries. Moreover, E-bikes average battery replacement cost is between $350- $450. This increases the overall operating cost of E-bikes making it hard to be maintained by users. Therefore, high purchase costs and maintaining the cost of E-bikes are expected to limit the growth of the E-bikes market.
Government subsidy on the sale of Electric bikes (E-bike) is acting as a major growth driver for the E-bike market. E-bike has an integrated electric motor and rechargeable batteries that reduces pollution by eliminating carbon dioxide emissions in the environment. Therefore, various government and non-governmental agencies are augmenting the sales of electric bikes by providing incentives and subsidies on the purchase of E-bikes. For instance, in 2015 the Indian government announced an incentive scheme named Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the incentive scheme of FAME II, in 2019, government provides a subsidy of up to INR 10,000 for the purchase of electric scooters/electric bikes buyer. Thus, government subsidies and incentives are increasing the growth of the E-bikes market.
Markets Covered:
1) By Product Type: Pedel assist/Pedelecs; Power on Demand; Pedal Assist with Power on Demand
2) By Battery Type: Li-ion; Lead Acid; Others;
3) By Motor Type: Hub motor; Mid motor; Others
Influence Of The Electric Bikes Market Report:
-Comprehensive assessment of all opportunities and risk in the Electric Bikes market.
- Electric Bikes market recent innovations and major events.
-Detailed study of business strategies for growth of the Electric Bikes market-leading players.
-Conclusive study about the growth plot of Electric Bikes market for forthcoming years.
-In-depth understanding of Electric Bikes market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Electric Bikes market.
The report has 150 tables and figures browse the report description and TOC:
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
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