Market Trends of asia-pacific e-bike Industry
China's massive adoption rate showcases the vast market potential and cultural integration of e-bikes.
- The Asia-Pacific region is dominating the global e-bike sales, mainly due to the two-wheeler culture in the region, growing government support in the form of tax incentives for EVs, hefty taxes on conventional, fuel-based vehicles, expansion of the e-commerce and food delivery systems, and rapid urbanization. E-bikes also offer a good user experience with additional benefits, such as the non-requirement of driving licenses, insurance, inspections, and parking permits.
- In Asia-Pacific, bike commuting has long been the primary transportation mode in China, Japan, India, and several Southeast Asian countries. The electrification in China and Japan led to the total number of e-bikes reaching 150 million in the region, which is expected to rise in the near future. The pedal-assisted e-bike segment is dominating in the Asia-Pacific region as many countries limit e-bikes in terms of speed and power. Most of these are limited to 250 W motor power and a speed of 25 kmph. The governments in some countries have set regulations for power limits in throttle-assisted electric bikes, resulting in them accounting for a low market share in unit sales.
- The e-bike market, especially for pedal-assist e-bikes in China and Japan, is reaching a saturation point as unit sales growth becomes stagnant. However, Indonesia, India, Singapore, and South Korea are expected to witness significant growth in the near future, driven by many strategic measures taken by domestic two-wheeler and low-speed electric vehicle producers and the government’s plans for rapid electrification of two-wheelers. The growth in shared e-bike systems in India, Singapore, and Thailand is further supporting the growth of the e-bike market in the region.
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Varied trends with Japan stable and high, and China and India growing, indicating diverse commuting patterns and infrastructure evolution.
- Asia-Pacific is made up of several countries with a decent bicycle population, including China, India, and Japan. The demand for bicycles has grown recently among the countries in the region. People in Asia-Pacific are using bicycles for short commutes (up to 15 km) or trips to neighboring locations like businesses and workplaces. With 5 to 15 kilometers of travel per day, China has the highest percentage of daily commuters in the Asia-Pacific region.
- Numerous people discovered bicycles to be a secure, isolating means of transportation after the COVID-19 outbreak, which forced the closing of gyms and public transportation in various Asia-Pacific countries. People also decided to exercise during the pandemic by bicycling or going on weekend runs to nearby places, which increased the number of commuters with a daily travel distance of 5 to 15 kilometers in 2021 over 2020 across the region. Consumers who commuted 5 to 15 kilometers were also attracted to the introduction of e-bikes with cutting-edge battery packs that offered an increased range of up to 40 to 45 kilometers.
- The removal of COVID restrictions and the opening of offices and businesses across Asia-Pacific contributed to the growth of bicycle users. Many people regularly commute by bicycle to their workplaces and enterprises within 5 to 15 kilometers. Bicycle commuting is becoming more and more common, largely because it is healthy, carbon-free, fuel-efficient, and saves traffic time in countries like China and Japan. During the forecast period, these factors are anticipated to promote cyclists journeying 5 to 15 km across Asia-Pacific.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Overall, Asia-Pacific's bicycle sales demonstrate significant growth in 2020, with a stable market presence thereafter.
- India and China display a steady decline in inflation, reflecting robust policy measures and market resilience.
- India's initially high prices are approaching the regional average, while China and Japan show a consistent decrease, influencing the regional trend.
- China leads with a significant number of dedicated bicycle lanes, contributing majorly to the region's growth.
- Asia-Pacific varies, with India and China seeing notable reductions, while Japan and South Korea exhibit the sharpest declines.
- The overall trend indicates a strong and growing economy across the region, with rapid development in several countries.
- Dominated by China's substantial market value, the region shows significant growth, with India and the Rest-of-APAC countries contributing increasingly to the market expansion.
- China's massive volume in Hyper-Local Delivery dwarfs other countries, driving the regional trend upwards significantly.
- China stands out as the largest market for bicycle trekkers in Asia-Pacific, with significant growth. India, Japan, South Korea, Australia, and New Zealand also contribute to the region's growth in bicycle trekkers.
- India consistently has the highest traffic congestion, while China shows a steady decrease, and South Korea and Australia maintain moderate levels.
