Electric bikes are bicycles that have a battery and an integrated electric motor propulsion mechanism. The components generate power to cause or assist propulsion. The global availability of e-bikes ranges from electric bikes with a modest motor to more powerful e-bikes that generate electricity to drive the bike using a throttle. Electric bikes assist lessen traffic congestion due to their smaller form factor, their ability to gain greater speed with minimal exertion and give health advantages attained via cycling. Electric bicycles provide different benefits such as enhanced physical health, easier to ride, faster, and safe.
Asia Pacific E-Bike Market Driving Factors and Challenges
Drivers: The market is primarily driven by rising concerns about environmental sustainability. Furthermore, the widespread use of e-bikes, with their zero-emission electric propulsion, establishes them as an environmentally clean and responsible means of transportation, influencing market growth. Additionally, a number of developments in battery technology are enhancing the performance and range of e-bikes, resolving issues with short battery life and range anxiety, and boosting consumer trust in the dependability of e-bikes for recreational and daily commuting—all of which are significant growth drivers. Furthermore, e-bikes make it easier for commuters to negotiate congested regions and locate parking than traditional automobiles, which are better suited to narrow streets and busy urban environments, hence boosting market expansion.
Challenges: International trade policies and a lack of infrastructure impede market expansion. Additionally, several governments have established regulations pertaining to e-bikes. For example, China, the world's largest market for electric bikes, has classified bicycles as e-bikes only if they are capable of providing pedal assistance, can reach a maximum speed of 25 km/h, and have a motor power of 400 watts. Furthermore, Class-II and Class-III e-bikes are prohibited in the Asia-Pacific region due to their high speed and throttle aid in avoiding traffic difficulties (save in India, where class-II is permitted). All of these reasons limit the expansion of the Asia-Pacific Electric Bicycle Market.
Impact of COVID-19 on Asia Pacific E-Bike Market
The Asian electric Bike market was moderately damaged as the serious spread of the COVID-19 pandemic was limited to few nations. However, numerous developing countries suffered a dramatic drop in their economy due to low consumer wants and increasing costs for vital commodities. As a result, the annual growth of electric Bike observed a severe fall compared to prior years. To tackle this challenge, various firms committed large cash in their research and development programs to enhance the development of electric Bike. For instance, Hyundai Motor Group produced a new prototype electric scooter featuring rear-wheel drive, a very competent lithium battery, and advanced front and back lights.
Asia Pacific E-Bike Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; AIMA technology Group Co Ltd, Cannondale Bicycle Corporation, Giant Manufacturing Co, Hero Cycles Limited, Merida Industry Co Ltd, Riese & Müller, Tianjin Fuji-Ta Bicycle Co Ltd, Trek Bicycle Corporation, Yadea Group Holdings Ltd, Yamaha Bicycles.
Asia Pacific E-Bike Market Segmentation:
By Mode: Based on the Mode, Asia Pacific E-Bike Market is segmented as; Throttle, Pedal Assist.
By Motor Type: Based on the Motor Type, Asia Pacific E-Bike Market is segmented as; Hub Motor, Mid Drive, and Others.
By Battery Type: Based on the Battery Type, Asia Pacific E-Bike Market is segmented as; Lead Acid, Lithium Ion, Nickel-Metal Hydride (NiMH), and Others.
By Class: Based on the Class, Asia Pacific E-Bike Market is segmented as; Class I, Class II, Class III.
By Design: Based on the Design, Asia Pacific E-Bike Market is segmented as; Foldable, Non-Foldable.
By Application: Based on the Application, Asia Pacific E-Bike Market is segmented as; Mountain/Trekking Bikes, City/Urban, Cargo, and Others.
By Region: This research includes data for China, Japan, India, South Korea, Australia, Indonesia, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.