Global E-Bike Market 2024-2030

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    E-BIKE MARKET

     

    KEY FINDINGS

    • Post-Covid, the E-bike market saw global growth mainly coming out of Europe, the USA, and Asia
    • Taiwan and China were the largest exporters in 2020 and will continue to remain over the coming years
    • The Netherlands, one of the markets with the largest average price had a 50% share of bicycles in 2021 as e-bikes
    • Pedal assist will be the key technology to be utilised across brands for e-bikes
    • Development of infrastructure including special paths as well as improving parking and public transport integration will be key factors facilitating the growth
    • Focus on health post-Covid, and social distancing are 2 main factors that caused the boom for e-bikes
    • The age group for purchase is varied across the globe for e-bikes, each region has an exclusive age group interested in e-bikes
    • Offline and online stores will gather traction, and the growth rate for both mediums will be almost the same
    • Among cycle types, commuter cycles will be the most sought-after cycle type followed by mountain and road
    • Supply chain constraints will remain will be an issue for sellers and brands will look into localizing manufacturing
    • The Accell Group reported that bicycle sales declined by 15.4% due to component shortages and limited alternatives for critical parts. 
    • ARES announced the launch of the world’s lightest electric bicycle weighing 9 kg which was produced in partnership with High-Performance Systems (HPS).
    • Yamaha introduced a new electric bicycle named the Yamaha PW-X3.
    • VAAST Bikes announced the development of the company’s first electric bicycle which will be manufactured sustainably.
    • Giant Manufacturing announced the launch of a new full-composite trail bike named Trance X Advanced Pro 29. 

     

    INTRODUCTION TO E-BIKE MARKET

    Mobility plays a vital role in the current society that we live in. With the growing concern for preserving and sustaining the environment for future generations, governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.

     

     

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    E-bikes are increasingly considered an ideal transportation mode as cities emerge from the quarantine approaches in the US and Europe. In addition, owing to the government restrictions on public transport because of social-distancing guidelines, commuters are essentially adopting the bike as the mode of day-to-day transportation. As a result, the rising demand for e-bikes is proving to be an ideal solution to the challenge.

     

    Electric bikes are a flexible, versatile, eco-friendly, and trendy mode of transport. Consumers look up to them as an ideal substitute for scooters, smart cars, and public transport. These bikes help tackle traffic congestion, owing to the smaller size of e-bikes, attain higher speed with lesser effort, and health benefits attained with peddling. These factors have led to a rise in the popularity of electric bikes across the globe.

     

    Apart from the increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market towards further growth.

     

    E-BIKE MARKET DYNAMICS

     

    SI No Timeline Company Developments
    1 Jan 2022 SRAM  SRAM announced Wednesday the acquisition of the cycling computer brand Hammerhead. The transaction was completed on Dec. 30
    2 Jan2022 Kona Bicycles Kona Bicycles has been acquired by Kent Outdoors, an Ohio-based company that was known as Kent Water Sports. Kent Outdoors owns several outdoor sports and watersport brands, including the Arbor snowboard brand.
    3 Jan2022 Pedego Electric Bikes  A global consumer brand investment firm announced an investment in Pedego Electric Bikes. Verlinvest’s undisclosed amount will be used to increase the number of Pedego stores and inventory, and support innovation

     

    Porsche will buy a majority stake in the Greyp electric bike company. Since 2018, Porsche Ventures, the sports car manufacturer’s venture capital arm, has maintained a 10% ownership in Greyp.

     

    Greyp began operations in the United States last year in San Pedro, California. Porsche, based in Stuttgart, Germany, purchased the original interest at the same time as Rimac Automobili. Greyp will establish a significant and expanding presence in Croatia, which will provide a bright future for Greyp personnel while also demonstrating Croatia’s status as an electric car R&D hub.

     

    Porsche is a leader in sustainable mobility, and its e-mobility strategy is advancing at a rapid pace. Compared to conventional bicycles, currently, the overall demand for e-bicycles is evolving and is expected to showcase larger growth during the forecasted period.

     

    The ability of e-bicycles to manage the overall speeds more adequately, provides the rider with a comfortable drive on overpasses, mountain areas, and tough roads, thus paving the way to the sales of the e-bicycle market.

     

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    Factors such as the implementation of government regulations to encourage the use of electric bikes, consumer inclination toward the use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as fitness & recreational activity are expected to drive the market growth.

     

    However, the high cost of e-bikes and the ban on the use of e-bikes in major cities of China hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the electric bike market growth.

     

    E-BIKE MARKET TRENDS

    Electric bikes offer a relaxed cycling trip to/for work, easier usability compared to bicycles, cheaper transport compared to public transport, and cheaper running expenses compared to a car, all while decreasing emissions and keeping the rider healthy

     

    Connected electric bikes – there are many ongoing technical advancements in the e-bike market, one of which is connected e-bike technology. The technology is enabled with an embedded sim module that sends and receives data to and from a cloud server without the need for a smartphone.

     

    Some of the most prominent features this technology offers are automatic emergency calls, social media connections, integrated navigation, remote diagnosis as well an anti-theft system. For instance, the company Bosch has developed connected e-bike solutions which it has been selling to the automakers. The SmartphoneHub developed by the company connected electric bikes to the rider’s smartphone to support the rider’s journey.

     

    For greater security, the Kiox-connected onboard computer system is transferred into a key by the Lock Premium feature. The Nyon function determines the force of the pedal as well as the frequency and uses the information to calculate the rider’s energy consumption and performance.

     

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    Electric cargo bikes offer a quieter and cleaner alternative to vans for making deliveries in urban areas. And as cities turn over more road space to bicycles, motorcyclists may be tempted to switch. Manufacturers like Triumph Motorcycles and Piaggio now offer e-bikes alongside their motorized two-wheelers.

     

    However, just as the shift to battery-powered cars opened the door for new players like Tesla, upstarts are staking their claim in the e-bike market. While most conventional bicycles are assembled using mass-produced parts, new manufacturers are building batteries into frames, while adding features such as electric alarms and smartphone controls.

     

    In a sign of the industry’s potential, German industrial giant Robert Bosch earlier this year created a new standalone unit that makes batteries and other parts like anti-lock brakes for e-bikes.

     

    Major brands have invested in R&D as well as manufacturing for e-bikes across the globe. Players such as Yamaha and Bosch have also set up component supply chains for global brands and also boosted their ability to provide solutions for e-bikes.

     

    E-BIKE MARKET SEGMENTATION

     

    The bicycle market is segmented by

     

    E-Bike Market By Geography

    • Europe
    • USA
    • China
    • Asia Ex China
    • ROW

     

    E-Bike Market By Type of Bicycle

    • Road
    • Mountain
    • Hybrid

     

    E-Bike Market By Price

    • <$1,000
    • $1,000-$4,000
    • >$4,000

     

    E-Bike Market By Sales Channel

    • Offline
    • Online

     

    E-Bike Market By Sub Component

    • Motor
    • Battery
    • Electronics

     

    COVID-19 IMPACT ON E-BIKE MARKET

    Covid-19 has provided a further spark. E-bikes appeal to commuters who are keen to avoid public transport but don’t want to appear sweaty at work. Most riders who ride e-bikes to/from work don’t want to carry a change of clothes either which increases the demand for commuter e-bikes.

     

    Governments, spotting an opportunity to reduce carbon emissions, are helping too. Cities like London, New York and Berlin have built new bike lanes, while several countries have offered subsidies. Italy is reimbursing citizens for as much as 60% of the cost of a new bicycle, e-bike or e-scooter, up to 500 euros. Electric power also stimulated the use of shared-bike schemes, like those operated by Uber Technologies-owned Jump.

     

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    Customers in the US and Europe are turning to electric bicycles in a very big way Covid was the primary driver of the boom. The average prices in this area are 3-4x more than China and the rest of Asia due to the higher purchasing power in this region. It’s also a preferable option for those looking to socially isolate while getting fresh air outside.

     

    Due to the COVID-19 pandemic, the shortage in semiconductor components and electronic chips has greatly affected the automotive industry and trends for innovations and technology launches. For instance, the Accell group reported that the bicycle sales declined by 15.4% due to component shortage and limited alternatives for critical parts. 

     

    GLOBAL UPCOMING TRENDS IN E-BIKE MARKET

    • Technology advancement in motor and battery technology
    • Decrease in prices for Li-ion Battery
    • Improved consumer awareness of emissions even in low purchasing power regions
    • Improved localised manufacturing
    • Improved cycle lanes across cities globally
    • Models based on Denmark models for bicycle awareness and large-scale implementation
    • Legislation to ensure cyclist safety
    • Ability to load and unload cycles onto public transport systems

     

    US E-BIKE MARKET

     

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    Graph: Average price in USA for different E-bike types

    The USA depended on Chinese imports for the growth of e-bikes especially among the startups such as Rad bikes. By 2019, a large chunk of imports shifted away from very few companies that sold primarily through Amazon under various brands.

     

    Instead, a large portion of overall imports is now going to consumer-direct e-bike specialists, brick-and-mortar e-bike specialists (EBDs), and conventional bicycle brands.

     

    US e-Bike Imports reached Record Levels in 2020. Despite concerns over Trump’s tariffs and huge disruption to e-bike supply chains caused by coronavirus and the trade war instilled between the US and China, which is one of the leading manufacturers of bicycles and bicycle parts. The $1,500-$3,000 price point is seeing excellent traction across all major E-bike retail points

     

    Because e-bike sales started surging last year, large e-bike companies have been managing a delicate balancing act between their sales and customer service departments. Now, as an unprecedented number of new customers receive their e-bike boxes, some of which inevitably arrive with issues, these companies are finding it difficult to keep their many new customers happy.

     

    The United States Congress has proposed a tax credit against the purchase of electric bicycles in the USA which will be up to 15% which is half of what was presented to the House of Representatives in February 2021. The original document pitched a tax credit of 30% as an incentive to buy more electric bikes and bicycles.

     

    Market-visible companies, such as VanMoof and Rad Power Bikes, found themselves scrambling to keep up with their new customer bases and the rapid increase in complaints. After its sales doubled virtually overnight, VanMoof especially found its very prominent presence on social media a handicap as its splashy ads on social platforms were always accompanied by a long list of customers publicly complaining about a lack of customer support.

     

    E-scooter companies have long complained about not being allowed to operate in the largest U.S. city, with more than eight million residents, while permitted in dozens of other U.S. cities.

     

    However, new amendments have been announced along with a pilot program for the e-bike market which is scheduled to start by May 2021 and is expected to last no more than two years, according to the bill. Scooter placement should focus on areas underserved by the city’s docked bike-share program.

     

    The relative ease in state policies is only expected to drive this market further towards growth. Firms such as Lime have started e-bike sharing programs and the response to that with competition from e-scooters must be closely followed

     

    ASIA-PACIFIC E-BIKE MARKET

     

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    Graph: Average price in China for different E-bike types

     

    Asia-Pacific dominates the e-bike market as China and Taiwan are the largest manufacturers and exporter of e-bikes in the region and e-bikes purchased are increased in the region for cost-effective and eco-friendly commuting for short distances, for instance, commuting to workplace or office.

     

    The import and export volumes in China are also large, and China has always been the largest exporter of electric bikes. The Government of India has also encouraged to use of electric bikes.

     

    By the end of 2035, the government is looking forward to converting fuel vehicles into electric vehicles. The most prominent features of China’s E-bikes are the regional characteristics. Currently, Tianjin, Jiangsu and Zhejiang are the major e-bike industrial clusters in China.

     

    The company Hebei Hongyang Tyre exported a total of 16.19 million bicycles in the first quarter of the year 2021, which increased the export volume to $1.06 billion which was up by 101.6% from the year-on-year comparison. 

     

    Recently electric bicycles have gained popularity across Asia especially in China among younger generations who use bicycles as a healthy activity. Electric bikes are equipped with smart batteries and linked to applications that make them easily accessible. The primary bike-sharing companies such as Hellobike, Meituan Bike, and Qingju Bike have increased the demand for e-bikes in the Chinese market.

     

    Hero Bicycles, one of the global leaders has invested Rs 500 Cr to develop their brand and cycles specifically for Europe. This will trickle down to the Indian market

     

    Bosch set up their global R&D for e-bikes in Taiwan and believe that pedal assisted bikes will show the largest growth in the Asia Pacific region compared to other regions  

     

    To learn more about the Asia Pacific E-Bike Market, read our report

     

    EUROPE E-BIKE MARKET

    Electric bike sales now represent 17% of all complete bicycle sales made in Europe. In pooling a broad spectrum of data from across the EU, it was found that electric bike sales are achieving a growth rate far steeper than that of electric car sales; in fact, electric cargo bikes sold more than electric cars in Germany in 2020.

     

    As far as sales trends go, 60% of electric bike sales at the checkout in Europe are also largely made in the EU. In Germany, in the first half of 2020 the bike boom saw sales of bicycles, sports and camping goods beat the market, with retail sales up 1% and car sales down 18%.

     

    EU e-bike imports increased by 10% to meet the expanding market from 46 % in 2019 to 51 % last year. Germany, The Netherlands and France are the key markets for the e-bike market in Europe.

     

    In the UK, Sales of bikes selling between $550 and $1,350) more than doubled in April 2020 compared to April 2019. Overall, bike sales rose by 60% YOY by volume and 57% by value

     

    The bicycle market in Europe will possess the second-largest share in the forecast period. The rollout of infrastructure for encouraging and supporting bicycle commutation in Belgium, France, Denmark, and Italy, rising health consciousness, increasing environmental concerns regarding carbon dioxide emissions, rising urbanization,

     

    growing use of personal transportation, traffic congestion, popular bicycling events, and the presence of cities that are ideal for bicycle commutation are adding to the global bicycle market growth in the region.

     

    Europe is estimated as the ideal region to commute with bicycles due to which the region is experiencing significant growth over the years. The increasing popularity in the region is also attributed to the bicycling events and tours that take place such as the Ronde Van Vlaanderen and the Tour de France.

     

    Countries such as Denmark, Belgium, Italy, and France are focusing more on developing infrastructure for electric bicycles and bikes which promote the growth of the industry.

     

    New Phoenix models such as the Lithium moped bicycles have become increasingly popular across Europe as the bicycle addresses the concerns of people owning a luxury bike to go out in public as well as remain healthy at the same time.

     

    Additional factors adding to market growth include the rising use of bicycles for their convenience as a form of physical exercise which lets people remain fit, the growing use of bicycles for recreational activities, the growing popularity of e-bike tourism, ongoing trends of adventure sports, and rising health consciousness are also adding market growth.

     

    To know more about Europe E-Bike Market, read our report

     

    E-BIKE MARKET NEW PRODUCT DEVELOPMENT

    • In September 2021, ARES announced the launch of the world’s lightest electric bicycle weighing 9 kg which was produced in partnership with High-Performance Systems (HPS) which is an advanced engineering company that develops mobility technology.
    • In September 2021, the company Cowboy based in Belgian launched the updated version of the C4 e-bike with higher torque motor and belt drives.
    • In September 2021, Yamaha introduced a new electric bicycle named the new Yamaha PW-X3, which has a mid-motor drive system that achieves a reduction in the size and weight of the cycle with electrically assisted pedals.
    • In September 2021, Genesis announced the launch of its Columbia and Smithfield electric bicycles that are practical urban bikes with pedal assistance.
    • In September 2021, ZF announced the launch of a new super fast speed sensor that integrates the ABS into high specification electric bicycles and speed pedelecs.
    • In September 2021, VAAST bikes announced the development of the company’s first electric bicycle which will be manufactured sustainably by sourcing materials locally and packaging the bike without plastic. The bicycle will have a pedal assist and a full suspension platform.
    • In December 2020, Merida announced the launch of three new bikes named the eScultura drop-bar road, eSilex gravel bike, and the eSpeeder flat-bar hybrid. All the electric bikes will be powered by the Mahle ebikemotion X35+ rear hub motor.
    • In October 2020, the company Giant manufacturing announced the launch of a new full-composite trail bike named Trance X Advanced Pro 29. The bike has an updated Maestro rear suspension with a flip-chip feature which allows adjustment of the frame geometry.
    • In September 2020, Sparta which is a subsidiary of the Accell Group NV announced the launch of a new powerful speed pedelec named d-Burst. The company is focusing on developing its distance series/d-series bikes to be used between the office and home. The d-Burst will be available as a speed pedelec as well as an e-bike with a total capacity of approximately 1125 Wh.
    • In August 2020, Shimano launched its advanced e-bike system to be incorporated in mountain bikes named the Shimano STEPS DU-E8000 which will be based on the STEPS EP8 motor platform.
    • Gazelle, which is a subsidiary of the Pon Bike group, announced the development of a cargo e-bike named the Gazelle D10 model in a joint venture with DOCKR and Aluca. The e-bike is a light electrical freight transporter that can accommodate up to 2 standard carry boxes with a load capacity of 100 Kg.
    • Merida uses the innovative smart bikes system developed by MAHLE for some selected electric bike range X35 drive systems.
    • Charge bikes announced the launch of a new electric bike incorporated with the latest technology developed by the company.
    • Lime electric bike batteries recycled into speakers: British sustainable design company Gomi is giving 50,000 Lime e-bike batteries a second life by recycling them into zero-waste portable Bluetooth speakers. The limited-edition portable speaker will be available for 30 days on Kickstarter, from 2nd March, priced from £99.June 2020
    • National tyre recycling scheme hits 200 sites: Just five months from launch a with Madison now a support partner, tyre recycling business Velorim has now chalked up 200 sites across the UK. The firm hopes to reach 1,000 sites by the end of this year in a bid to help bike shops address the issue of recycling waste rubber.
    • Hyderabad based EV start-up launches electric bike Atum 1.0 at Rs 50,000, Atum 1.0 offers a range of 100 kmph in a single charge.
    • Rad Power Bikes has long led the value-oriented e-bike market. The company released two new low-cost models in the last year alone, the $1,199 RadRunner utility e-bike and the $1,099 RadMission city e-bike.
    • So-Cal start-up Ride1Up has also gotten into the low-cost e-bike game by relaunching one of its original e-bike models as an updated belt drive e-bike, the $995 Roadster V2. The stealthy e-bike offers most of the utility that daily riders are looking for and is an example of the increased accessibility being seen in the e-bike market.

     

    June 2020- The British motorcycle brand Triumph unveiled its first e-bike, an aluminum-frame model that will retail for about $3,750

    July 2018– Yamaha introduced 600Wh multi-location in tube battery, for Electrically Power Assisted Bicycles (EPACs), which offer a 20% capacity increase.

    March 2018- Accell Group acquired the US-based Beeline Bikes. Beeline Bikes is a mobile bike service company that delivers a turn-key sales, service, and data collection solutions personalized for Independent Bicycle Dealers (IBDs) in North America based on a franchise concept.

    September 2017– Bosch e-bike system took over a start-up based in Frankfurt named COBI.

    November 2016– Giant Bicycle continued its partnership with Cycling Development Foundation (CDF), which is a joint commitment to support the cycling development in Western Australia.

     

    Table: Top E-Bike conversion kits

    Conversion kit Comments Wattage Battery included Motor Position Price

    (US $)

    Bafang Mid-Drive Motor Kit and Battery A mid-drive all-inclusive kit 500 Yes Crank 1,083.60
    Bafang Front Hub Motor kit and Battery Ease of setup that comes with a front wheel motor 500 Yes Front wheel 799.00
    Alizeti 300C E-bike System As easy as installing a rear rack 500 No Rear Tire 499.00
    Swytch Universal Electric Bike Conversion Kit Attractive kit that is easy to install on almost any bike 250 Yes 250 wheel 999.00
    Tongsheng Mid-Drive Kit with Battery A torque sensor-based pedal assist with a mid-drive motor 500 Yes Crank 431.92
    Rubbee X Base Model Simple install possible 250 Yes Rear tire 681.93
    Pendix eDrive150start The advantages of a torque-sensing mid-drive kit 250 Yes  Crank 1,176.59

     

    E-BIKE MARKET SIZE AND FORECAST

     

    The global E-bike market is estimated at $ 12 B in 2020, growing at double digits till 2026.

     

    Electric bikes are giving the market for two-wheeled transport a big jolt. The pandemic that has boosted demand for bicycles also looks set to accelerate the shift to battery-assisted pedalling. As in the automobile market, though, the change is disruptive. Established players will have to make room for new upstarts.

     

    Sustainability credentials have progressively become an important part of doing business, as well as when selling on to the consumer, who will now pay a premium for genuine eco-credentials.

     

    Modern technology requires modern solutions and so issues like the recycling of e-bike batteries are now frequently brought up. With Decathlon announcing a circular economy drive and OEM parts maker Herrmans offering a sustainable packaging service to its clients, the trend is now deep seated.

     

    E-BIKE MARKET RECENT LAUNCH

    Smartron India has launched the tbike OneX, a second-generation e-bike that is multi-modular, multi-purpose, and multi-utility, with a focus on the rideshare and delivery industries. 

     

    The tronX platform, in conjunction with the tbike app and tlock, provides a variety of fleet and rider management options. It simply interacts with ridesharing and delivery service providers’ existing IT systems. It also allows for remote vehicle monitoring and diagnostics, as well as real-time business analytics such as asset utilisation, battery status, asset location, remote lock/unlock, and geofencing, among other things.

     

    The tbike oneX, a second-generation multi-purpose ebike, has been released. It’s based on the hugely successful tbike One and One Pro, which won a Good Design Award in the United States. 

     

    While the tbike oneX was created for the rideshare sector, it is now being used for other purposes.

     

    In order to continue its aim of making cities more livable by reducing car use, traffic, and carbon emissions, Bird, a global pioneer in micro-mobility and current operator of e-scooters in Seattle, has announced the debut of their cutting-edge e-bikes in the vivacious Emerald City.Bird’s entry into the Seattle e-bike industry fits with the city’s cutting-edge transit system and dedication to sustainable transportation.

     

    The new fleet of e-bikes is anticipated to improve Seattle’s mobility options even more, enabling locals and visitors to effortlessly navigate the city while minimizing their carbon imprint. With 200 e-bikes at first, Bird will expand its fleet in the upcoming months.

     

    The electric assist system on Bird’s e-bikes adjusts to the rider’s natural pedaling technique to provide a smooth and pleasant ride even on Seattle’s steep terrain. The bikes have inbuilt GPS capabilities, just like Bird’s e-scooters, and can be quickly locked and unlocked with the Bird mobile app, offering a seamless user experience.

     

    One Electric Introduces Three EV Models For The B2B Market In Asia, Europe, and AfricTwo electric motorcycles and one electric scooter model, which are entirely designed, developed, and produced in India and have design patent applications pending, have been released by One Electric.

     

    The business asserts that it was the first to create and introduce several locally produced electric two-wheel vehicles in India. The new electric motorcycles’ main market sectors will be bike taxis, last-mile deliveries, and reasonably priced city commuters.

     

    While the company is beginning its early market research & testing in Southeast Asia, the Americas, and Europe, these three models will be offered in volume for the India and African markets. The KRIDN, the company’s flagship electric motorcycle, is already in B2B operations in several African nations as well as India.

     

    With the launch of the XR model and a low-speed variant, the company is expanding its B2B offering to include lower cost markets.

     

    E-BIKE MARKET RECENT DEVELOPMENTS

    Hero Electric E-bikes will use motors created in partnership with NIDEC Japan.One of the top manufacturers of electric motors in the world, Nidec of Japan, and Hero Electric have established a preferred partner partnership. Hero’s city speed series of e-bikes will use e-motors from Nidec.

     

    Many years ago, Hero Electric and NIDEC Japan partnered up to start jointly developing e-bike motors for the complete spectrum of their products, starting with the city speed models.

     

    Engineers from Hero Electric’s R&D team made significant contributions to the co-development with the incredibly skilled team at NIDEC. The PLI plan for automobiles and auto components has authorized incentives for many auto component makers, including Nidec India.

     

    India’s Hero MotoCorp will introduce Zero electric bikes Hero MotoCorp, the leading two-wheeler manufacturer in India, is preparing to introduce electric motorcycles from US-based Zero Motorcycles in India that will be produced there after purchasing direct interest in the company.

     

    When the Delhi-based business invested millions in the California-based EV manufacturer, the two businesses merged. In the beginning, it was agreed to purchase Zero technology for use in electric motorcycles. However, the two businesses have now advanced their cooperation to include introducing Zero’s premium line in India.

     

    Hero recently expanded its premium offering with the introduction of the smallest Harley-Davidson motorcycle in the world. Hero wants to give its brand a premium push with the anticipated launch of Zero’s line.

     

    E-BIKE MARKET COMPETITIVE LANDSCAPE

     

     

    SI No

    Timeline Company Developments
    1 Jan 2022 TVS Motor TVS Motor Acquires 75% of Switzerland’s Largest Electric Bicycle Player SEMG for US $ 100 Million

     This will be the  second acquisition in Switzerland in the field of electric vehicles in 2022. In September 2021, we acquired an 80% stake in the EGO movement for $ 17.9 million.

    2 Jan 2022 Porsche  Porsche announced plans to acquire a 20% stake in the German e-bike drive system manufacturer Fazua GmbH and also will partner with Pon Holdings’ Ponooc Investment B.V.
    3 Feb 2022 Specialized Bicycle Specialized Bicycle Components added to its growing list of company-owned retail stores by acquiring the four-store Gray Goat Bicycle Co. chain,.
    4 Feb 2022 Accell Group  Kohlberg Kravis Roberts & Co. reached a conditional agreement to buy the Accell Group N.V. The group, which includes Teslin Alpine Acquisition B.V.Reached agreement on an all-cash offering for the shares for 1.56 billion euros ($1.76 billion).
    5 Jan 2022 BikeExchange BikeExchange, the Australia-based marketplace, has acquired Kitzuma, a bike-shipping service that launched last December for $3.4 Million.

     

    The e-bike market is extremely fragmented, with the major players holding a low share of the total market share. Some of the major market players are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and Fritzmeier Systems GmbH & Co. Kg (M1 Sporttechnik).

     

    The Dutch electric bike manufacturer VanMoof announced the acquisition of investment worth $128 million in the Series C minority investment round which was led by an equity firm based in Asia. The investment has raised the total funding of the company to $182 million which will be used in the expansion of production activities and enhance the software and hardware infrastructure of the bicycles.

     

    The company Accell Group recently released the financial reports for the first half of the year 2021 with net sales worth EUR 699.1 million which was greater than the net sales from the same term of the year 2020 which reported EUR 676.9 million.

     

    The major developers are focusing on expanding their business by acquiring small companies. For instance, Hero cycles acquired 48% equity in HNF NICOLAI which is a vehicle manufacturer based in Germany. The acquisition is set to help Hero to expand to global markets primarily through Europe.

     

    The company Van Der Wal was acquired by Beeren Groep NV which is an automotive supplier manufacturing company based in Belgium. Peloton Interactive revenue in the last quarter grew 54% as compared to the quarter of the year 2020, to revenue worth $937 million.

     

    Giant Bicycles is expected to be the largest player in this market.

     

    The company’s presence is majorly concentrated in China, with Europe and North America being the other important markets. The companies are diversifying their product portfolio through innovations and new launches and is aiming to continue its spot as the market leader.

     

    The new players are also attracting different investors. In May, VanMoof raised 12.5 million euros from venture capital firm Balderton and Taiwan’s SINBON Electronics. Belgian startup Cowboy’s backers include Tiger Global Management and Index Ventures.

     

    Accell, the $730 million Dutch group which owns brands such as Raleigh and Sparta, earned more than half its revenue from e-bikes last year. Investors are betting that will continue.

     

    Giant shares have risen 43% so far this year, and are now valued at 26 times Daiwa Capital Markets’ forecast earnings for 2021. Shimano, the $19 billion Japanese group that controls roughly half the global market for bicycle components like gears and brakes, trades on a forward multiple of 35 times

     

    Giant Manufacturing, the $4 billion Taiwanese group, saw revenue jump 55% year-on-year in June. British retailer Halfords reported a similar-sized spike in its cycling business in the 13 weeks to early July

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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