Electric Bicycle Batteries Market Report
Electric Bicycle Batteries Market, by Battery (Lithium Ion Battery, Lead-acid Battery), Application (City/Urban, Trekking, Cargo), End-User (Automobile): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global electric bicycle batteries market is estimated to grow in the forecasted period due to rising customer demand for e-bikes as an environmentally friendly and effective transportation option. Electric bicycles are the world's highest selling electric vehicles; they are expected to reach 36 million by 2027.
Electric Bicycle Batteries Market, Analysis:
The word 'e-bike' applies to bicycles that have compact and rechargeable electric motor batteries to support the cyclist's power source. The market growth is further driven by rapid economic development, increasing urbanization, increased tourist operation, and high fuel costs.
Growing traffic congestion is expected to drive the global electric bicycle batteries market
The new road network is proving to be insufficient with the growing numbers of vehicles per day. According to the World Health Organization, about 1.35 million people die per year due to road traffic accidents. In fact, traffic congestion around the globe has seen a substantial increase. Using e-bikes will reduce the number of cars on the road as they require less road space, resulting in lesser traffic delays. Hence, to reduce traffic congestion, the growing adoption of riding e-bikes will result in the growth of the global electric bicycle batteries market.
Technological drawbacks are anticipated to restrain the growth of the global electric bicycle batteries market
There are still some technical difficulties and discrepancies with current e-bikes that might hamper the market growth. Maintenance of batteries is a major concern for e-bikes. Electric bike batteries such as lithium-ion batteries have a short lifespan for about 2-3 years. This raises the need for battery replacements, as well as chains and sprockets replacements due to extensive e-bike usage. Thus, the technological drawbacks of e-bicycle batteries are estimated to restrain the market growth.
Government initiatives are anticipated to create enormous opportunities for the global electric bicycle batteries market
Growing awareness and government policies to promote the usage of battery-operated automobiles contribute to rising market acceptance of environmentally sustainable automobiles. For instance, FAME-India scheme in India and grants offered by Officers for Low Emissions in the UK for EVs acquisition are some of the government initiatives focused on promoting e-bikes. These government initiatives are foreseen to act as an opportunity for the global electric bicycle batteries market in the forecasted period.
Electric Bicycle Batteries Market, by Battery:
Lead-acid battery segment will be most lucrative till 2027
By battery, the global electric bicycle batteries market is divided into lithium ion battery and lead-acid battery. Out of these, the lead-acid battery segment is expected to lead the market due to its low cost, durability, and maintenance features.
Electric Bicycle Batteries Market, by Applications:
Trekking segment is estimated to dominate the market till 2027
By applications, the global electric bicycle batteries market is classified into city/urban, trekking, and cargo. Amongst these, trekking e-bikes such as mountain e-bikes are expected to dominate the market during the predicted period as they are quick and simple, reliable, easy-to-control strength, and a compact long-lasting battery that recharges fast.
Electric Bicycle Batteries Market, by End-User:
Automobile industry is estimated to be the highest growing till 2027
By end-users, the global electric bicycle batteries market operates in the automobile industry. The automotive industry is further bifurcated into the heavy commercial vehicle (HCV), light commercial vehicle (LCV), electric vehicle type, hybrid electric vehicle (HEV), fuel cell electric vehicle (FCEV), battery electric vehicle (BEV), and others. Owing to the growing concerns for a healthier climate, various governments are taking compulsory measures to promote e-vehicles. This has expanded the automobile industry, thereby increasing the sales for e-vehicles and rise in the demand for zero-emission vehicles.
Electric Bicycle Batteries Market, by Region:
North American region will have lucrative opportunities for market investors
The global electric bicycle batteries market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions. The Asia-Pacific region dominates the market share, especially countries like China, Japan, and India, due to the presence of a large number of manufacturers. Asia-Pacific region is anticipated to be the fastest-growing market due to growing urbanization and increasing demand for regular vehicle alternatives such as e-bikes.
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Key participants in the Global Electric Bicycle Batteries Market:
Merger & acquisition and advanced product development are the frequent strategies followed by the market players
Source: Research Dive Analysis
Some of the key players of the global electric bicycle batteries market are Yamaha Motor Co. Ltd., Giant Manufacturing Co. Ltd., Accell Group N.V., Derby Cycle AG, Easy Motion, Jiangsu Xinri E-vehicle Co. Ltd., Panasonic Corp., Pedego Electric Bikes, Stromer, YADEA Technology Group Co. Ltd., and others.
Market players prefer inorganic growth strategies to expand into local markets. Global electric bicycle batteries market players are putting greater focus on merger & acquisition and innovative product growth. These are the regular approaches adopted by existing organizations. To prioritize on market players' strategic intelligence, the Porter's five-force model is explained in the report.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Battery
Segmentation by Applications
Segmentation by End-Users
Key Countries Covered
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia
Key Companies Profiled
Q1. Which are the leading companies in the global electric bicycle batteries market?
A. Yamaha Motor Co. Ltd., Giant Manufacturing Co. Ltd., and Accell Group N.V. are some of the key players in the global electric bicycle batteries market.
Q2. Which region possesses greater investment opportunities in the coming future?
A. The North America region possesses great investment opportunities for the investors to witness the most promising growth in the future.
Q3. What are the strategies opted by the leading players in this market?
A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.
Q4. Which companies are investing more in R&D practices?
A. Derby Cycle AG, Easy Motion and Jiangsu Xinri E-vehicle Co. Ltd. are the companies investing more in R&D activities for developing new products and technologies.