As per a latest report published by Research Dive titled, “Global Electric Bicycle Batteries Market, by Battery (Lithium Ion Battery, Lead-acid Battery), Application (City/Urban, Trekking, Cargo), End-User (Automobile): Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global electric bicycle batteries market is expected to witness a considerable growth over the forecast period from 2020 to 2027.
The Asia Pacific region is projected to dominate the global electric bicycle batteries market throughout the period of forecast, owing to the existence of large number of manufacturers in countries such as India, Japan, and China.
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Market Dynamics
The increasing number of vehicles per day coupled with the growing traffic congestion around the globe are the major factors expected to boost the growth of the global electric bicycle batteries market during the forecast period. Besides, increasing awareness amongst people regarding the benefits of using e-bikes is another factor to propel the market growth. However, the growing concerns regarding maintenance and the technological drawbacks e-bicycle batteries are predicted to hinder the market growth in the upcoming years. Furthermore, the increasing government initiatives to promote the usage of battery-operated automobiles is likely to create lucrative growth opportunities in the global industry by 2027.
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Key Segment Findings of the Market:
The report segments the global electric bicycle batteries market by Battery, Applications, End Users, and Region.
- On the basis of battery, the global market is bifurcated lead-acid battery and lithium ion battery. Of these the lead-acid battery segment is predicted to dominate the market owing to its durability, maintenance features, and low cost.
- On the basis of applications, the global industry is classified into cargo, trekking, and city/urban. Of these, the trekking segment is estimated to dominate the industry in the estimated timeframe mainly because trekking e-bikes are quick and simple, easy-to-control, reliable, and a compact long-lasting battery.
- On the basis of end-users, the global market is categorized into automobile industry. The automobile segment is expected to witness a significant growth by 2027 owing to the increasing concerns by various government bodies for a healthier climate and increasing measures to promote e-vehicles.
- Geographically, the Asia Pacific electric bicycle batteries market is anticipated to grow at a rapid pace in the forecast period, majorly owing to the growing urbanization and rising demand for regular vehicle alternatives such as electric bikes.
Prominent Players of the Market
The major players operating in the global electric bicycle industry include
- Giant Manufacturing Co. Ltd.,
- Yamaha Motor Co. Ltd.,
- Accell Group N.V.,
- Easy Motion,
- Derby Cycle AG,
- Jiangsu Xinri E-vehicle Co. Ltd.,
- Pedego Electric Bikes,
- Panasonic Corp.,
- Stromer,
- YADEA Technology Group Co. Ltd.
Further, the report sketches various aspects of all these market players such as product portfolio, SWOT analysis, financial performance, and recent strategic moves & developments.
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