The Asia Pacific Electric Bike Market would witness market growth of 11.3% CAGR during the forecast period (2020-2026).
Electric bikes are an adaptable, versatile, fashionable, & eco-friendly means of transport. Consumers consider them as a perfect replacement for smart cars, scooters, & public transport. These bikes aid in managing traffic congestion, as they are small-sized, achieve superior speed with less effort, & provide health-giving advantages through peddling. These determinants play a crucial role in fueling the demand for electric bikes around the world.
The growth of the market would be propelled by different aspects including rising fuel price, enforcement of government norms to support the utilization of electric bikes, consumer preference toward the utilization of e-bikes as an environment friendly & effective solution for commuting, and increasing interest in cycling as a recreational & fitness activity. Though, the market growth would be hampered by the high cost of e-bikes & a ban on the utilization of e-bikes in some major cities of China. Moreover, the market would witness attractive growth possibilities due to the development in battery technology & bicycling infrastructure.
Various governments across the world are undertaking different measures with an aim to decrease the carbon footprints by motivating people to adopt electric vehicles, electric bikes, and bicycles, due to rising awareness of the harmful effects of choosing vehicles that run on fossil fuels. In addition, governments are planning to create bicycle-friendly streets, which are inspiring people to choose a bicycle as a primary means of commute. Electric scooters, bicycles, & motorcycles have received a high degree of focus from several governments as reliable & effective kinds of light motor vehicles (LMVs), which aid in decreasing the carbon footprint.
The China market dominated the Asia Pacific Lithium ion (Li-ion) Electric Bike Market by Country in 2019, and would continue to be a dominant market till 2026. The Japan market is showcasing a CAGR of 10.3% during (2020 - 2026). Additionally, The Taiwan market is anticipated to witness a CAGR of 11.7% during (2020 - 2026).
Based on Drive Mechanism, the market is segmented into Hub Motor, Mid-drive and Others. Based on Battery Type, the market is segmented into Lithium ion (Li-ion), Lead Acid and Others. Based on Product, the market is segmented into Scooter/Motorcycle, Pedelecs, Throttle on Demand and Speed Pedelecs. Based on countries, the market is segmented into China, Japan, Taiwan, India, South Korea, Singapore, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Mahindra & Mahindra Limited (Mahindra Group), Yamaha Motor Co., Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Derby Cycle AG (Pon Holdings B.V.), Fuji-ta Bicycle Co., Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., and Wuxi Truckrun Motor Co., Ltd.
Scope of the Study
By Drive Mechanism
• Hub Motor
By Battery Type
• Lithium ion (Li-ion)
• Lead Acid
• Throttle on Demand
• Speed Pedelecs
• South Korea
• Rest of Asia Pacific
• Accell Group
• Mahindra & Mahindra Limited (Mahindra Group)
• Yamaha Motor Co., Ltd.
• Giant Manufacturing Co. Ltd.
• Jiangsu Xinri E-Vehicle Co., Ltd.
• Derby Cycle AG (Pon Holdings B.V.)
• Fuji-ta Bicycle Co., Ltd.
• Trek Bicycle Corporation
• Tianjin Golden Wheel Group Co., Ltd.
• Wuxi Truckrun Motor Co., Ltd.
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