PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485850
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485850
E Bikes Electric Motor Market size was valued at USD 34,543.34 Million in 2023, expanding at a CAGR of 12.5% from 2023 to 2030.
Rechargeable batteries are used in the motor of e-bikes, which may reach speeds of up to 25 to 32 km/h (16 to 20 mph). A planetary reduction gear within the electric bike motor lowers the rpm to the proper speed for a bike wheel.
E Bikes Electric Motor Market- Market Dynamics
Increasing emphasis on sustainable transportation, and clean energy is to propel market demand
Several factors, including the increased emphasis on sustainable transportation, health consciousness, and environmentally friendly transportation, the market for electric bike motors is currently expanding quickly. Major cities across the globe are experiencing high levels of pollution due to an increase in vehicle gas emissions and noise. Global sales of e-bikes are being driven by the healthy growth rate of the demand for high-performance vehicles and renewable energy.
Further, over the forecast period, it is expected that the growth of e-bike E-bike Types in several industries, including logistics and e-bike rental services, will drive demand for e-bike motors. Furthermore, because of their ease and low operating costs, e-bike demand has been rising. Furthermore, governments and international organizations throughout the world are passing strict emission standards to lower carbon emission levels in response to the ever-growing environmental and health problems brought on by the rising emission levels. Furthermore, during the forecast period, it is predicted that the development of high-performance e-bikes will considerably contribute to driving demand for e-bike motors.
E Bikes Electric Motor Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2030)
Based on Motor Type segmentation, the mid drive segment was predicted to show maximum market share in the year 2023, owing to high demand from e-bikes, scooters, etc.
Based on E-bike Type segmentation, the urban segment was the leading E-bike Type in 2023, mainly due to increasing demand for e-bikes in urban areas.
Based on Capacity segmentation, the 250W-500W segment was the leading Capacity in 2023, mainly due to the high demand for e bicycles, and bikes.
Based on region, Asia Pacific was the leading revenue generator in 2023, owing to the rapid urbanization across China, Indonesia, Japan, etc.
The Global E Bikes Electric Motor Market is segmented based on Motor Type, E-bike Type, Capacity, and Region.
The market is divided into four categories based on Motor Type: mid-drive, direct drive hub motor, geared hub motor, and friction motor. The mid drive segment dominates the market. The increasing adoption of e-bikes rental services is likely to contribute to market growth.
The market is divided into three categories based on E-bike Type: Urban, E-mountain/E-MTB, and E-cargo. The urban segment dominates the market and is likely to maintain its dominance during the forecast period. Rising demand for e-bikes in urban territories is anticipated to boost the market growth.
The market is divided into three categories based on Capacity: below 250W, 250W- 500W, and 500W & Above. The 250W- 500W segment dominates the market and is likely to maintain its dominance during the forecast period. The rise in the demand for mid power leveled e-bikes (250W) is expected to grow significantly over the forecast period.
E Bikes Electric Motor Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
E Bikes Electric Motor Market is moderately fragmented and is formed by domestic and international players. Over the past few years, China has accounted for over 50% of the Asia-Pacific e-bike motor market, largely because of the country's increasing use of electric bikes to combat traffic jams and rising levels of automobile pollution. The China Bicycle Association reports that in recent years, the country's annual sales of electric bicycles have increased to 30 million units. The Indian e-bike motor market is still in its early stages, with several regional businesses providing a wide range of goods. For example, in the EM Summit 2023 held in January 2023, EMotorad introduced India's most reasonably priced line of e-bikes.
In August 2023, Bosch GmbH introduced its brand-new lightweight e-bike motor, the Bosch Performance SX, intended for lightweight e-bikes, gravel, EMTB, or urban rides.
In April 2023, Dost Bikes, one of the leading e-bike manufacturers in Canada, launched a slick-looking electric cargo bike.
In May 2023, Yamaha introduced two new electric Urban Mobility models, BOOSTER Easy eBike and BOOSTER S-pedelec.