APAC Demand for E-Bikes Market Increasing in Most Part of World 2030
APAC E-Bikes Market Growth & Trends
The APAC e-bikes market size is expected to reach USD 35.27 billion by 2030, expanding at a CAGR of 11.9% over the forecast period, according to a study conducted by Grand View Research, Inc. The increasing adoption of e-bikes among the young population, the increasing purchasing power of the middle-class population in developing countries, and rapid urbanization are expected to significantly drive product demand across the region.
The demand for e-mountain bikes has significantly increased over varieties such as cargo and city/urban e-bikes over the past few years. This can be attributed to the fact that e-mountain bikes are suitable for off-roading, as their robustness allows for a safe riding experience even on slippery and wet terrain. Moreover, their strength makes them desirable for road traffic, encouraging their use for regular commutes for shopping or work in most cities.
Increasing urbanization and the low inclination of consumers toward the use of cars due to increased traffic on roads are projected to offer lucrative opportunities for market growth. Furthermore, governments of various countries, including China and India, are focusing on developing bicycle infrastructure due to the increasing preference of consumers toward e-bikes. The infrastructure includes public charging stations and bicycle tracks. For instance, Sanyo introduced two solar parking garages in Tokyo and provided 100 electric hybrid eneloop bikes in Tokyo, Japan.
Key players in the Asia Pacific e-bikes market include Merida Industry Co. Ltd, Yamaha Motor Company, Aima Technology Group Co. Ltd., Yadea Group Holdings Ltd., and Pedego Electric Bikes. These players focus on new product launches to enhance their product offerings. For instance, In July 2020, Yamaha Bicycles announced the launch of the new electric power-assist bicycle, Civante Class 3. The launch assisted the company in expanding its product line of fitness-focused road bikes.
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APAC E-Bikes Market Report Highlights
- By propulsion type, the pedal-assisted segment is expected to dominate over the forecast period. This can be attributed to the rising demand for pedal-assisted e-bikes among the youth and elderly population
- Based on battery, the lead-acid battery segment dominated with a more than 45% revenue share in 2021 due to benefits such as low cost and robustness. However, the share is anticipated to decline swiftly owing to a significant rise in demand for Li-Ion batteries
- India is expected to be the largest regional market over the forecast period owing to significant investments in vehicle charging infrastructure and government subsidies for battery-powered vehicles
- Prominent industry participants include Giant Manufacturing Co. Ltd., Yadea Group Holdings Ltd., Yamaha Motor Company, Pedego Electric Bikes, Merida Industry Co. Ltd
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APAC E-Bikes Market Segmentation
Grand View Research has segmented the APAC e-bikes market based on propulsion type, battery type, power type, application type, and country:
APAC E-Bikes Propulsion Type (Revenue, USD Million, 2018 – 2030)
- Pedal-assisted
- Throttle-assisted
APAC E-Bikes Battery Type (Revenue, USD Million, 2018 – 2030)
- Lithium-ion Battery
- Lead-acid Battery
APAC E-Bikes Power Type (Revenue, USD Million, 2018 – 2030)
- Less than and Equal to 250W
- Above 250W
APAC E-Bikes Application Type (Revenue, USD Million, 2018 – 2030)
- City/Urban
- Trekking
- Cargo
- Others
APAC E-Bikes Country Outlook (Revenue, USD Million, 2018 – 2030)
- Asia Pacific
- China
- Japan
- India
List of Key Players in the APAC E-bikes Market
- Pedego Electric Bikes
- Yamaha Motor Company
- Aima Technology Group Co. Ltd.
- Merida Industry Co. Ltd
- Trek Bicycle Corporation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.