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The E-bike battery market size is forecast to increase by USD 2.12 billion and is estimated to grow at a CAGR of 6.46% between 2022 and 2027. The report includes historic market data from 2017 - 2021. The market is witnessing a growing demand for advances in designs, the increased use of renewable energy for charging E-bikes, and the popularity of connected E-bikes.
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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.
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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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 77% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers 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.
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.
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 report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market is experiencing rapid growth due to increasing global demand and the rising popularity of electric bike sales. Factors such as infection rates and the microscale of the batteries have also contributed to this trend. One of the costliest components of an e-bike is the battery, particularly lithium-ion batteries. These batteries are commonly used in e-bikes and are known for their durability and efficiency.
Government initiatives promoting eco-friendly transportation have further boosted e-bike sales, especially in urban areas. The market has seen a surge in new launches and the introduction of innovative features such as graphene battery packs and range extenders. Key players in the industry, including Priority Bicycles and Yamaha Bicycles, are investing heavily in research and development to meet the growing demand for lithium-ion batteries-powered e-bikes. Overall, the e-bike battery market is competitive, with major players vying for market share and offering a wide range of products to cater to different consumer needs.
E-bike Battery Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.46% |
Market growth 2023-2027 |
USD 2.12 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.1 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 77% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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