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Asia Pacific E-Bike Market Forecast to 2030
Asia Pacific E-Bike Market Forecast to 2030 – Regional Analysis – by Battery Type (Lithium-Ion, Lithium-Ion Polymer, Lead Acid, and Nickel Metal Hydride), Motor Type (Hub Motor and Mid Motor), Class (Class-I, Class-II, and Class-III), and Mode (Pedal Assist Mode and Throttle Mode)
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Description
Rising Adoption of Connected E-Bikes Among Business and Government Sectors Fuels Asia Pacific E-Bike Market
The connected e-bike is gaining popularity across the world owing to growing urbanization and rising traffic congestion issues. The urban population uses e-bikes to avoid the traffic congestion problems. Also, rising urbanization and increasing government spending on cycling tracks and e-bike connection infrastructure would offer opportunities for the global e-bike market in the coming years. According to the U.N. Organizations, around 55.0% of the global population lives in urban areas, and it is projected to reach 68% by 2050. Transportation systems are not built to cope with the future demand of rising congestion and pollution. To tackle such problems, the key players are launching connected e-bikes with built-in scanners to pay and lock. This electric bike is available and can be charged based on the time and distance traveled by the users. Several business entities and key players are adopting multiple strategies such as partnerships and collaborations to provide connected e-bikes for traveling short distances to avoid traffic congestion.
Further, in July 2023, Hero Electric partnered with Maxwell Energy Systems to offer battery management systems to more than 1 million units for the next three years.
Such, rising adoption and development of the e-bike models and e-bike sharing platforms among the individuals around the globe is expected to create ample opportunity for the market growth. Several companies are launching the e-bike sharing platforms to avoid the traffic congestion problems around the globe which is expected to create tremendous opportunity in upcoming future.
Asia Pacific E-Bike Market Overview
Growing urbanization, rising investments in cycling track development, and increasing consumer awareness regarding environmentally friendly transportation drive the e-bike market growth. Governments of several countries announce ample investments and subsidies for the adoption of e-bikes.
Asia Pacific dominates the global e-bike market due to the presence of several local manufacturers in China and Japan. China’s e-bike production is the largest, reaching around 45.5 million in 2021, owing to the presence of raw material providers, low costs of labor, and favorable government schemes to promote penetration of e-bike. Also, Chinese consumers are aware regarding the benefits of environmentally friendly transportation and invest in e-bikes to travel short distances and avoid the traffic in their urban areas. According to the Chinese Bicycle Organization, China is the world’s largest consumer and exporter of electric bicycles. In the country, more than 300 million electric bicycles are being used. In 2020, China produced around 41.3 million electric bicycles and exported more than 2.0 million across the world. In the country, more than 50 million people use e-bikes owing to their low cost, convenience, and relatively energy-efficient transportation. China is the dominant country that uses e-bikes as a travel mode.
The e-bike market in Japan and India is growing rapidly owing to rising government schemes and funding to promote e-bike mobility penetration. In March 2020, India’s finance minister launched the PLI scheme that provides subsidies for the e-cycles. The government announced an investment of US$ 0.24 million in creating national manufacturing facilities. The scheme was introduced to promote the production of e-bikes and EVs to meet the local demand.
Asia Pacific E-Bike Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific E-Bike Market Segmentation
The Asia Pacific e-bike market is segmented based on battery type, motor type, class, mode, and country.
Based on battery type, the Asia Pacific e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held the largest Asia Pacific e-bike market share in 2022.
In terms of motor type, the Asia Pacific e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held a larger Asia Pacific e-bike market share in 2022.
Based on class, the Asia Pacific e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held the largest Asia Pacific e-bike market share in 2022.
By mode, the Asia Pacific e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held a larger Asia Pacific e-bike market share in 2022.
Based on country, the Asia Pacific e-bike market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific e-bike market in 2022.
Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd are some of the leading companies operating in the Asia Pacific e-bike market.
Summary Info
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According to the Research Team’ research, the Asia Pacific e-bike market was valued at US$ 23,526.20 million in 2022 and is expected to reach US$ 51,660.04 million by 2030, registering a CAGR of 10.3% from 2022 to 2030. Government support to lower carbon emissions transportation and growth of outdoor sports and adventurous activities are among the critical factors attributed to the Asia Pacific e-bike market expansion.
Governments of countries established various incentive programs to promote e-bike and electric vehicle sales to reduce carbon footprints. Governments of China and India establish subsidy schemes to promote electric vehicle sales to reduce carbon footprints. The Ministry of Finance and Ministry of Commerce in China offers the maximum subsidy of up to US$ 36 per vehicle for e-bikes in rural areas, with 80% of subsidies from the central government’s budget, and 20% from the provincial budget. In India, government subsidy program on e-bikes offers subsidies of up to 25% of the overall e-bike cost with a maximum purchase incentive of up to US$ 65. The government also planned a fixed additional incentive of US$ 25 for the first 10,000 e-bikes, apart from other subsidies and bonuses.
Such, rising government incentives and subsidies for the adoption of the e-bikes and to decarbonize the environment globally is driving the market growth.
On the contrary, high cost of e-bikes and requirement of huge capital investments in their manufacturing hampers the growth Asia Pacific e-bike market.
Based on battery type, the Asia Pacific e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held 67.4% share of the Asia Pacific e-bike market in 2022, amassing US$ 15,861.36 million. It is projected to garner US$ 36,110.37 million by 2030 to expand at 10.8% CAGR during 2022-2030.
In terms of motor type, the Asia Pacific e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held 75.7% share of the Asia Pacific e-bike market in 2022, amassing US$ 17,804.62 million. It is projected to garner US$ 39,881.55 million by 2030 to expand at 10.6% CAGR during 2022-2030.
Based on class, the Asia Pacific e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held 46.0% share of the Asia Pacific e-bike market in 2022, amassing US$ 10,818.29 million. It is projected to garner US$ 23,928.93 million by 2030 to expand at 10.4% CAGR during 2022-2030.
By mode, the Asia Pacific e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held 68.9% share of Asia Pacific e-bike market in 2022, amassing US$ 16,218.96 million. It is projected to garner US$ 37,143.57 million by 2030 to expand at 10.9% CAGR during 2022-2030.
Based on country, the Asia Pacific e-bike market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 96.1% share of Asia Pacific e-bike market in 2022, amassing US$ 22,599.26 million. It is projected to garner US$ 49,077.04 million by 2030 to expand at 10.2% CAGR during 2022-2030.
Key players operating in the Asia Pacific e-bike market are Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd, among others.
In 2023, Yamaha Bicycles launched a new e-commerce platform for selling its e-bikes online in partnership with its area network of dealers. E-bike models can be purchased online from their nearest Yamaha Bicycle dealers.
In 2023, Bosch eBike Systems launched Performance Line SX lightweight drive unit for the e-bikes to expand the smart system portfolio.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific e-bike market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the e-bike market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific E-Bike Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of E-Bike Suppliers
5. Asia Pacific E-Bike Market – Key Industry Dynamics
5.1 Asia Pacific E-Bike Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growth of Outdoor Sports and Adventurous Activities
5.2.2 Government Support to Lower Carbon Emissions Transportation
5.2.3 Increasing Prices of Fuel and Rising Adoption of Environment-Friendly Transportation
5.3 Market Restraints
5.3.1 High Cost of E-Bikes and Requirement of Huge Capital Investments in Their Manufacturing
5.4 Market Opportunities
5.4.1 Rising Adoption of Connected E-Bikes Among Business and Government Sectors
5.5 Future Trends
5.5.1 Development of E-Bikes Using Lightweight Material and Advanced Smart Systems
5.6 Impact of Drivers and Restraints:
6. E-Bike Market – Asia Pacific Market Analysis
6.1 Asia Pacific E-Bike Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific E-Bike Market Forecast and Analysis
7. Asia Pacific E-Bike Market Analysis – Battery Type
7.1 Lithium-Ion
7.1.1 Overview
7.1.2 Lithium-Ion : Asia Pacific E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Lithium-Ion Polymer
7.2.1 Overview
7.2.2 Lithium-Ion Polymer: Asia Pacific E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Lead Acid
7.3.1 Overview
7.3.2 Lead Acid: Asia Pacific E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Nickel Metal Hydride
7.4.1 Overview
7.4.2 Nickel Metal Hydride: Asia Pacific E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific E-Bike Market Analysis – Motor Type
8.1 Mid Motor
8.1.1 Overview
8.1.2 Mid Motor: Asia Pacific E-Bike Market, Revenue, and Forecast to 2030 (US$ Million)
8.2 Hub Motor
8.2.1 Overview
8.2.2 Hub Motor: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9. Asia Pacific E-Bike Market Analysis – Class
9.1 Class I
9.1.1 Overview
9.1.2 Class I: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Class II
9.2.1 Overview
9.2.2 Class II: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Class III
9.3.1 Overview
9.3.2 Class III: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific E-Bike Market Analysis – Mode
10.1 Pedal Assisted Mode
10.1.1 Overview
10.1.2 Pedal Assisted Mode: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Throttle Mode
10.2.1 Overview
10.2.2 Throttle Mode: Asia Pacific E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
11. Asia Pacific E-Bike Market – Country Analysis
11.1 Asia Pacific E-Bike Market
11.1.1 Overview
11.1.2 Asia Pacific E-Bike Market Revenue and Forecasts and Analysis – By Country
11.1.2.1 Asia Pacific E-Bike Market Revenue and Forecasts and Analysis – By Country
11.1.2.2 Australia E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.2.1 Australia E-Bike Market Breakdown by Battery Type
11.1.2.2.2 Australia E-Bike Market Breakdown by Motor Type
11.1.2.2.3 Australia E-Bike Market Breakdown by Class
11.1.2.2.4 Australia E-Bike Market Breakdown by Mode
11.1.2.3 China E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.3.1 China E-Bike Market Breakdown by Battery Type
11.1.2.3.2 China E-Bike Market Breakdown by Motor Type
11.1.2.3.3 China E-Bike Market Breakdown by Class
11.1.2.3.4 China E-Bike Market Breakdown by Mode
11.1.2.4 India E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.4.1 India E-Bike Market Breakdown by Battery Type
11.1.2.4.2 India E-Bike Market Breakdown by Motor Type
11.1.2.4.3 India E-Bike Market Breakdown by Class
11.1.2.4.4 India E-Bike Market Breakdown by Mode
11.1.2.5 Japan E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.5.1 Japan E-Bike Market Breakdown by Battery Type
11.1.2.5.2 Japan E-Bike Market Breakdown by Motor Type
11.1.2.5.3 Japan E-Bike Market Breakdown by Class
11.1.2.5.4 Japan E-Bike Market Breakdown by Mode
11.1.2.6 South Korea E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.6.1 South Korea E-Bike Market Breakdown by Battery Type
11.1.2.6.2 South Korea E-Bike Market Breakdown by Motor Type
11.1.2.6.3 South Korea E-Bike Market Breakdown by Class
11.1.2.6.4 South Korea E-Bike Market Breakdown by Mode
11.1.2.7 Rest of Asia Pacific E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.7.1 Rest of Asia Pacific E-Bike Market Breakdown by Battery Type
11.1.2.7.2 Rest of Asia Pacific E-Bike Market Breakdown by Motor Type
11.1.2.7.3 Rest of Asia Pacific E-Bike Market Breakdown by Class
11.1.2.7.4 Rest of Asia Pacific E-Bike Market Breakdown by Mode
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Giant Manufacturing Co Ltd
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Merida Industry Co., Ltd.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Robert Bosch GmbH
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Specialized Bicycle Components, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Shimano Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Trek Bicycle Corp
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Yamaha Motor Co Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific E-Bike Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million) – Battery Type
Table 5. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million) – Motor Type
Table 6. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million) – Class
Table 7. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million) – Mode
Table 8. Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Country
Table 9. Australia E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 10. Australia E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 11. Australia E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 12. Australia E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 13. China E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 14. China E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 15. China E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 16. China E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 17. India E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 18. India E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 19. India E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 20. India E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 21. Japan E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 22. Japan E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 23. Japan E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 24. Japan E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 25. South Korea E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 26. South Korea E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 27. South Korea E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 28. South Korea E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 29. Rest of Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Battery Type
Table 30. Rest of Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Motor Type
Table 31. Rest of Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Class
Table 32. Rest of Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn) – By Mode
Table 33. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific E-Bike Market Segmentation, By Country
Figure 2. Ecosystem: E-Bike Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific E-Bike Market Revenue (US$ Million), 2022 – 2030
Figure 5. Asia Pacific E-Bike Market Share (%) – Battery Type, 2022 and 2030
Figure 6. Lithium-Ion: Asia Pacific E-Bike Market, Revenue and Forecasts To 2030 (US$ Million)
Figure 7. Lithium-Ion Polymer: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. Lead Acid: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Nickel Metal Hydride: Asia Pacific E-Bike Market, Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Asia Pacific E-Bike Market Share (%) – Motor Type, 2022 and 2030
Figure 11. Mid Motor: Asia Pacific E-Bike Market, Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Hub Motor: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Asia Pacific E-Bike Market Share (%) – Class, 2022 and 2030
Figure 14. Class I: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Class II: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Class III: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Asia Pacific E-Bike Market Share (%) – Mode, 2022 and 2030
Figure 18. Pedal Assisted Mode: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Throttle Mode: Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Asia Pacific E-Bike Market Revenue, by Key Countries, (2022)(US$ Mn)
Figure 21. Asia Pacific E-Bike Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 22. Australia E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. China E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 24. India E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Japan E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. South Korea E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Rest of Asia Pacific E-Bike Market Revenue and Forecasts To 2030 (US$ Mn)
The List of Companies – Asia Pacific E-Bike Market
1. Giant Manufacturing Co Ltd
2. Merida Industry Co., Ltd.
3. Robert Bosch GmbH
4. Specialized Bicycle Components, Inc.
5. Shimano Inc
6. Trek Bicycle Corp
7. Yamaha Motor Co Ltd
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