OTTAWA, Oct. 28, 2020 (GLOBE NEWSWIRE) — The global E-bike drive unit market size was valued at US$ 6,199 million in 2019 and predicted to reach over US$ 8,361 million by 2027, with a registered compound annual growth rate (CAGR) of around 4.43% during forecast period 2020 to 2027.
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Electric bicycles (e-bikes) are analogous to human-powered bicycles with small electric motor that bids pedal assistance also permits riders to climb hills, accelerate, and overcome wind barrier effortlessly than manually powered bikes. Foremost component that drives these bicycles are their drive units. Hub motors are the traditional motors with reasonably lower power range and they are positioned at the wheels either rear or front wheel of the bicycle this cause handling problem. Additionally, they provide single gear system that limits their speed range and thus restrict their market adoption in high speed applications. On the other hand, mid-drive motors are positioned at the center of the bicycle and they are slightly near to the ground that enhances their handling. Further they permit multiple gear system that upsurges the range of torque and speed and thus empowers users for high speed application.
Vehicle electrification is one of the greatest developments in the automotive power drives sector. Cumulative concern about environmental protection has prompted the battery research that extensively drives the electric mobility across the globe. Among other electric vehicles, electric bicycles (e-bikes) sustained to be the highest selling vehicles across the globe since past decade with a registered sale of more than 30 million in the year 2016. In order to diminish the traffic congestion, bike sharing is a healthy and sustainable choice. With the initiation of bike sharing, the mobility sector is expected to reshape its business model. As per a study released by Roland Berger, bike sharing has grown stupendously in the recent past and is now available in more than 70 countries with a continuous growth of nearly 20% over the analysis years.
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In spite of the intensifying growth of e-bike, there are still some gaps and challenges in terms of technology in the existing e-bikes that holds back its growth. Battery maintenance is the major concern in e-bikes due to its limited life span of around 2-3 years particularly for lithium ion batteries. Though, the research in continued for the advancement in lithium ion battery, yet the problem has not been fixed. Apart from battery, motor maintenance is the other foremost concern that holds back the full growth of e-bike, hence affects undesirably to the e-bike drive unit market.
- Hub motors are simple in construction, lighter in weight, and inexpensive to the manufacturers due to which it is the most commonly found motors in the e-bike. However, significant number of advantages offered by the mid-drive motors over hub motors expected to drive their demand overt the forthcoming years
- Asia Pacific garnered major portion of revenue and consumption share of more than 90% in the year 2019. Noteworthy production of e-bikes in China is the major factor that drives the market growth in the region
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Bike sharing services is also on escalation in numerous nations such as the U.S., China, India, and also in European & African countries. As per a survey, Beijing, China has reported a growth of around 200% in the bikeshare riders. In order to accommodate the swelling demand for cycling, several European cities such as Seattle, Paris, London, Bogota, and many other cities have shutdown roads to cars and prop up permanent bike lanes as a new road infrastructure project.
China projected to be the front-runner in the e-bike adoption accounting for more than 90% of the total production and consumption share in 2018. Global market for e-bike expected to foresee robust growth. Protuberant growth is majorly anticipated from the Western Europe and some parts of the Asia Pacific such as Vietnam and Japan. Green mobility drive in Germany is the major influence supporting its extraordinary growth in the country. In 2015, Germany alone accounted for the e-bike unit sales of around 500,000 and expected to grow stupendously over the coming years.
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Key Players & Strategies
Several manufacturers engaged in this market place are involved in their product innovation and upgradation. For instance, Panasonic has introduced its eMTB motor, the GXO. The new motor claimed to be lighter in weight and offer higher torque of 90Nm compared to its previous motors. Hence, these aforementioned strategies of the major industry participants have boosted the rate of competition on the global scale. Further, Aimea, Yadea, Tailg, Golden Arrow, Luyuan, Sunra, Xdao are some of the leading e-bike and scooters players in China. Furthermore, these well-established players are also focusing suggestively on the product innovation in order to cater the changing consumer needs and demand. However, other market players are also struggling hard to establish their strong footprint in the global market for e-bike drive unit through continuous innovation and research activity.
By Product Type
- Mid-Drive Motors
- Hub Motors
By Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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