Market Trends of Asia-Pacific Bicycle Industry
Increasing Inclination Toward E-bicycles Driving the Market
E-bicycles feature an electric motor to power them. Their popularity has taken off over the last few years, with various regional and global manufacturers offering numerous models in the market. Rapid urbanization in Asian cities has led to increased traffic congestion. Hence, consumers are moving toward e-bicycles as they offer a convenient and efficient solution for short-distance commuting, helping riders navigate through congested streets more easily than cars or traditional bicycles. There is a growing awareness of environmental issues and the need for sustainable transportation solutions in Asia. E-bikes are seen as an eco-friendly alternative to gasoline-powered vehicles, as they produce zero direct emissions and contribute to reducing air pollution and carbon footprints.
Improvements in battery technology, motor efficiency, and overall e-bike design have made modern e-bikes more reliable, powerful, and user-friendly. This has increased their appeal and addressed concerns about range and performance limitations. E-bikes are being launched and sold in the market in different types, such as e-mountain bicycles, e-road bikes, and e-hybrid bikes. E-mountain bikes are mountain bicycles with electric motors. For instance, in January 2022, lifestyle e-mobility startup VAAN Electric Moto Pvt. Ltd launched its electric bicycle in India. The e-bike is available in two variants - Urbansport and Urbansport Pro.
China Holds a Prominent Share in the Regional Market
Rising concerns about pollution and climate change in China have led to a growing preference for environmentally friendly modes of transportation. Bicycles, being zero-emission vehicles, are increasingly favored as a sustainable alternative. As cities become more congested, bicycles offer a convenient and efficient way to navigate through traffic. Urban residents are increasingly opting for bicycles to avoid traffic jams and reduce commute times. Also, the Chinese government has been actively promoting green transportation solutions to combat pollution, including developing extensive bicycle lanes and bike-sharing programs. Additionally, the region is home to influential governing bodies such as The Cycling Federation of India and The Chinese Cycling Association, which organize various cycling events. Interest in cycling is widespread, with significant participation spikes seen among both the younger generations and baby boomers.
The rise of electric bicycles (e-bikes) has revolutionized the market in China. E-bikes offer the convenience of traditional bicycles with the added benefit of electric assistance, making them suitable for longer commutes and reducing physical exertion. Such factors are helping the segment gain traction among consumers.
