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The E-bike battery market size is forecast to increase by USD 1.38 billion and is estimated to grow at a CAGR of 4.25% between 2023 and 2028. The market is experiencing significant growth, driven by the longer shelf life of Li-ion batteries compared to other battery technologies. This advantage, coupled with advances in e-bike designs, is increasing the adoption of electric bikes as a viable alternative to traditional bicycles and cars. Furthermore, the growing concern over lead pollution and stringent laws against the use of lead-acid batteries in certain regions is further propelling the market forward. The market is expected to continue its upward trajectory, with innovations in battery technology and increasing government support for sustainable transportation solutions.
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Offline segment accounts for the largest share of the global market. In addition, specialty stores, department stores, hypermarkets, and warehouses are organized offline outlets of various types that sell these batteries. Furthermore, hypermarkets and supermarkets offer multiple brands of various products under one roof. In addition, consumers prefer these stores because of the convenience they offer and the economic pricing of most products.
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The offline segment was the largest segment and was valued at USD 2.90 billion in 2018. Moreover, consumers also consider discount stores specifically when purchasing these batteries. In addition, companies with organized retail based on factors such as customer segment, ease of production and inventory management, and merchandise transportation. Furthermore, offline stores display a wide range of clutch bags of various brands and categories, thus allowing consumers to choose products based on their requirements and budget. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 76% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends that shape the market during the forecast period. Some of the main countries that are contributing to the market growth in APAC include China, Vietnam, Japan, and India. In addition, China is the largest contributor to the market in the region such that the sales of E-bikes, in terms of unit shipment, have registered tremendous growth in the country. In addition, the increase in sales was triggered by the Chinese government's initiative to restrict motorcycles in city areas to avoid traffic disruption and accidents. As a result, it has led to the rapid adoption in the country for short-distance commutes. Hence, such factors are driving the market growth in APAC during the forecast period.
The market is witnessing significant growth due to the increasing popularity of electric bikes (Ebikes) worldwide. Two primary types of batteries dominate the market: Lead-Acid and Lithium-Ion. Lead-Acid batteries offer affordability and reliability, making them suitable for cargo Ebikes and trekking models. However, their heavy weight and limited lifespan hinder their widespread adoption. Lithium-Ion batteries, on the other hand, are preferred for their high capacity, lightweight, and longer lifespan. Pedal-assist and throttle-controlled Ebikes utilize these batteries. The market is rapidly evolving with advancements in lead-acid batteries, nickel-metal hydride batteries, and especially lithium-ion batteries, such as the Engwe Electric Bike Battery. Electric bike models are increasingly featuring connected e-bikes, throttle-assisted e-bikes, and pedal assist systems to enhance ebike performance. Key trends include the shift to lightweight electric bike batteries, which offer reduced weight and extended lifespan, addressing range anxiety and improving battery capacity. Innovations in advanced technology are driving the demand for compact, portable, and functional battery solutions. With the rise of ebike riders, including commuters and adventure seekers, there is a growing need for electric bike battery chargers and electric bike battery maintenance to ensure optimal performance and convenience.
One of the key factors driving the market growth is the fuel efficiency of E-bikes. There has been an increase in fuel prices, namely that of gasoline, over the past few years. Therefore, the rise in fuel prices has resulted in a rise in the adoption of these and pedelecs as a daily mode of transport. In addition, with the rise in fuel prices, the demand for battery-powered bicycles has increased.
Moreover, they are equipped with batteries and motors that aid in managing the speed better and making it easier for riders to negotiate different types of harsh terrain, such as mountain areas, overpasses, and bad roads. Furthermore, many people in Europe still prefer to cycle to work, especially as many governments in the region have constructed bicycle-friendly streets and lanes on major city thoroughfares. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the advances in E-bike designs. There is an increasing focus by e-bike manufacturers on bringing about changes and advances in designs as consumers are increasingly adopting E-bikes and preferring advanced multipurpose E-bikes. In addition, manufacturers are upgrading the batteries as well as the design, as new designs require higher capacity and energy density.
Moreover, the need to incorporate additional functionalities into these batteries has led to the introduction of high-energy-density batteries; however, high-energy-density batteries require better technology as traditional technologies, such as lead-acid batteries, do not have higher energy density. Furthermore, The development of flexible and next-generation batteries (such as Lithium-sulfur cells) with long-range operation is expected to revolutionize the power source in technology in the future. Hence, such factors are driving the market growth during the forecast period.
The high price of E-bikes is one of the key challenges hindering the market growth. Even though they are environment-friendly and offer low-cost transportation when compared with other automobiles, the higher cost of these over conventional bicycles negatively impacts the growth of the market. In addition, the most significant technological challenges faced by E-bike manufacturers are the cost and performance of components and materials.
Moreover, the type of battery used also affects the price. For instance, the more advanced, the higher the cost of the E-bike. Therefore, the capacity leads to the additional cost of the E-bike. Furthermore, the additional expenses include charging costs and replacement costs. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BMZ Holding GmbH: The company offers customized e mobility solutions for all application areas.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Electric Bike Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, Germany, The Netherlands - Size and Forecast
Electric Two-Wheeler Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, India, Japan, US, UK - Size and Forecast
Folding Electric Bicycle Market Analysis Europe, North America, APAC, South America, Middle East and Africa - The Netherlands, US, Germany, China, Italy - Size and Forecast
A Comprehensive Overview of Lithium-Ion and Lead-Acid Batteries E-Bikes, a sustainable alternative to traditional bicycles, have gained significant popularity in recent years. Two primary types of batteries power these electric vehicles: Lithium-Ion and Lead-Acid. Lithium-Ion Batteries, such as those from Swytch, Optibike, ZappBatt, Lectric, and Bosch, offer high energy density, long cycle life, and fast charging capabilities. They are widely used in Pedal-assisted e-bikes and Electric vehicles. Lead-Acid Batteries, on the other hand, are commonly found in Cargo e-bikes, Mountain e-bikes, and Trekking e-bikes from brands like Priority Bicycles and Yamaha Bicycles. Despite their lower energy density, they offer a reliable and cost-effective solution.
Furthermore, E-Bike Battery accessories include Remote diagnostics, Integrated navigation, Anti-theft systems, Social media connectivity, and Automatic emergency calls. These features enhance user experience and ensure safety. Electric Bikes come in various models: H electric cycle, electric kick-scooter, electric mountain bike, and more. Each model requires specific battery types to optimize performance. In conclusion, the market is diverse, with Lithium-Ion and Lead-Acid batteries catering to different e-bike models and user preferences. The future of this market lies in continuous innovation and advancements in battery technology. The market for e-bikes sold has seen a shift towards lithium-ion electric bike batteries due to their high-capacity and seamless integration compared to older technologies like lead-acid batteries, nickel-metal hydride batteries, and nickel-cadmium batteries, while features like throttle functionality and luggage compatibility continue to enhance user experience.
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Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.25% |
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Market growth 2024-2028 |
USD 1.38 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.08 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 76% |
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Key countries |
China, India, US, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BMZ Holding GmbH, Coslight India Telecom Pvt. Ltd., Giant Manufacturing Co. Ltd., GRUPO FOTONA, Guangzhou Yuntong Lithium Battery Co. Ltd., Hunan CTS Technology Co. Ltd., Johnson Matthey Plc, Kingbo Power Technology Co. Ltd., LG Corp., Melsen Power Technology Co. Ltd., OptimumNano Energy Co. Ltd., Panasonic Holdings Corp., Phylion Battery Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Shenzhen Handpack Technology Co. Ltd., SHIMANO INC., VARTA AG, Yamaha Motor Co. Ltd., and ZHANGZHOU YOKU ENERGY TECHNOLOGY Co. Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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