Australia E-bike Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2017 - 2029 | |
Market Size (2024) | USD 65.42 Million | |
Market Size (2029) | USD 98.46 Million | |
Largest Share by Propulsion Type | Pedal Assisted | |
CAGR (2024 - 2029) | 8.52 % | |
Fastest Growing by Propulsion Type | Speed Pedelec | |
Market Concentration | Low | |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Australia E-bike Market Analysis
The Australia E-bike Market size is estimated at 65.42 million USD in 2024, and is expected to reach 98.46 million USD by 2029, growing at a CAGR of 8.52% during the forecast period (2024-2029).
65.42 Million
Market Size in 2024 (USD)
98.46 Million
Market Size in 2029 (USD)
36.05 %
CAGR (2017-2023)
8.52 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
77.47 %
value share, Pedal Assisted, 2023
On e-bikes with pedal assistance, riders cycle quickly and easily as the motor produces greater power, efficiently carrying loads while saving time and cost. Hence, it is the largest segment in the market.
Largest Segment by Application Type
79.53 %
value share, City/Urban, 2023
Due to the continuous usage of bikes for daily commuting by students, workers, and courier companies, city/urban bikes make up the largest segment of the market.
Largest Segment by Battery Type
98.93 %
value share, Lithium-ion Battery, 2023
Advanced technology, better range, long battery life, and fast charging features are enhancing the higher usage of lithium-ion batteries in bicycles.
Fastest-Growing Segment by Propulsion Type
10.82 %
Projected CAGR, Speed Pedelec, 2024-2029
Growing consumer interest in speedy bikes to reach their destination faster during heavy traffic, along with fuel cost savings, is making speed pedelec the fastest-growing segment.
Leading Market Player
13.75 %
market share, Norco, 2022
Norco is the largest market player in Australia due to a broad product portfolio, a strong brand image, and a large supply network managing customers in Australia.
PROPULSION SEGMENT MARKET OVERVIEW
- In Australia, cycling is a common activity for the population. Men participate in cycling at a significantly higher rate than women, suggesting that men ride more frequently than women. Around 34.2% of people rode bicycles in 2017, recording a slight decline from 2016. In Australia, sales of e-bikes are growing quickly, and the import of e-bikes tripled in the past three years. The government has since announced that there would be a 5% charge for importing e-bikes. The increased tax would not apply to countries with free trade agreements with Australia, such as China, Cambodia, Indonesia, and the United States, but it might increase the price of e-bikes made in Taiwan, Europe, and India.
- According to the Australian Automobile Association, traffic congestion has caused an average reduction in driving speeds of 3-8% in the country's major cities. If significant policy changes are not made, congestion costs are predicted to reach between USD 27.7 and USD 37.3 billion by 2030. On the other hand, rising fuel prices, worsening traffic, growing interest in exercise and health, and increasing environmental consciousness are the key forces driving the Australian e-bike market. The demand for e-bikes is also driven by an increasing interest among the population in preserving the environment for future generations, primarily by combating environmental problems and the depletion of natural resources.
- Two recent breakthroughs that have had a substantial impact on the market dynamics for electric bicycles in Australia are the launch of high-end electric bicycles and the introduction of high-tech speed pedelec bikes with smartphone integration. The pedal-assisted segment held the biggest share of the Australian e-bike market during the historical period (2017-2022), but the speed pedelec segment is anticipated to be the fastest-growing segment over the forecast period.
Australia E-bike Market Trends
Australia's E-Bike adoption rates show steady growth, indicating an increasing market presence and consumer interest.
- In Australia, e-bike sales are increasing at a rapid pace. The popularity of e-bikes for short distances and leisure activities has significantly increased in recent years. Since they do not require gasoline or other petroleum-based fuels, e-bikes are affordable and accessible, as well as environmentally benign. These vehicles are intended to fit into tight spaces and readily maneuver through congested areas. The rising number of trips per vehicle and supporting rules are likely to aid the market's growth during the forecast period.
- As per the Australian Vehicle Standards, e-bikes can be ridden on the road if the motor does not provide more than 250 watts of maximum continuous power and if the vehicle cannot travel more than 25 km/h with throttle assistance. Electric bike manufacturers are now targeting the Australian market, so supply and options are also expected to increase. The development of premium folding e-bikes and the introduction of high-tech electric bikes with smartphone integration are two emerging trends that are expected to directly influence the dynamics of the electric bicycle industry in Australia and drive the market during the forecast period.
Australia exhibits a gradual rise in the population commuting 5-15 km daily, reflecting evolving commuting distances.
- The demand for bicycles has been increasing gradually across Australia. Public transportation is the country's most popular mode of transportation, and comparatively, fewer people choose to commute by bicycle. Commuters using bicycles to travel between 5 and 15 kilometers increased in 2020 over 2019 as more people began to exercise and use bicycles for nearby areas, such as markets. However, commuter travel between 5 and 15 kilometers is still relatively low compared to other modes of transportation in Australia.
- The COVID-19 pandemic significantly impacted the Australian bicycle market as more people opted to bike or walk to work rather than use public transportation to maintain social distancing. Following the pandemic's impacts, fewer individuals took public transit, which increased the number of daily bicycle commuters in 2021 compared to 2020. The advancements in e-bikes and the introduction of cutting-edge features like longer battery lives encouraged more people to opt for bicycles, which resulted in a rise in commuters traveling between 5 and 15 kilometers on bicycles in Australia in 2021.
- For routes between 5 and 15 kilometers, people now commute by bicycle, including trips to their places of employment, business, and markets. The number of persons using bicycles for transportation to work increased in 2022 over 2021. Development in bicycle infrastructure in the country is expected to contribute to the growing number of bicycle commuters in Australia.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Australia's bicycle sales surge in 2020, then stabilize, indicating a market that responded strongly to short-term demand.
- Australia's inflation rates peak in 2022, followed by a trend towards normalization, indicating a recovering economy.
- Australia's e-bike battery prices are decreasing, reflecting market maturity and increased consumer acceptance.
- Australia's consistent increase in dedicated bicycle lanes indicates a commitment to promoting cycling as a healthy and sustainable transportation option.
- Australia's E-bike charging time is consistently reducing, indicating a growing emphasis on efficient charging solutions and sustainable transportation.
- Australia's GDP per capita indicates a resilient economy with sustained growth and high living standards.
- Australia's bicycle rental market shows robust growth post-2020, indicating strong market presence and sustained consumer demand.
- Australia's hyper-local delivery sector is witnessing growth, indicating an evolving market trend towards localized online shopping.
- Australia's trekker numbers are steadily increasing, indicating a growing interest in the country's unique landscapes and outdoor adventure culture.
- Australia's Traffic Congestion Index shows minor fluctuations, suggesting stable traffic conditions with potential for congestion management improvements.
Australia E-bike Industry Overview
The Australia E-bike Market is fragmented, with the top five companies occupying 37.97%. The major players in this market are Dyson bikes, Giant Manufacturing Co., NCM Bike, Norco and Specialized Bicycle Components (sorted alphabetically).
Australia E-bike Market Leaders
Dyson bikes
Giant Manufacturing Co.
NCM Bike
Norco
Specialized Bicycle Components
Other important companies include Merida Industry Co Ltd, Pedego Electric Bikes, Riese & Müller, Robert Bosch GmbH, Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
Australia E-bike Market News
- November 2022: Company has introduced NCM ET Cycle T720 Step through Electric Bike in the market.
- November 2022: Focus Bikes Drops The Fancy JAM² SL Electric Mountain Bike, This sleek and athletic 29er has a carbon frame and a Fazua Drive 60 system.
- September 2022: Specialized, announced a recall of some battery packs on specific electric mountain bike models in May 2021 owing to fire dangers caused by these batteries' flaws.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
Australia E-bike Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Bicycle Sales
2.2. GDP Per Capita
2.3. Inflation Rate
2.4. Adoption Rate Of E-Bikes
2.5. Percent Population/Commuters With 5-15 Km Daily Travel Distance
2.6. Bicycle Rental
2.7. E-Bike Battery Price
2.8. Price Chart Of Different Battery Chemistry
2.9. Hyper-Local Delivery
2.10. Dedicated Bicycle Lanes
2.11. Number Of Trekkers
2.12. Battery Charging Capacity
2.13. Traffic Congestion Index
2.14. Regulatory Framework
2.15. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
3.1. Propulsion Type
3.1.1. Pedal Assisted
3.1.2. Speed Pedelec
3.1.3. Throttle Assisted
3.2. Application Type
3.2.1. Cargo/Utility
3.2.2. City/Urban
3.2.3. Trekking
3.3. Battery Type
3.3.1. Lead Acid Battery
3.3.2. Lithium-ion Battery
3.3.3. Others
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Dyson bikes
4.4.2. Giant Manufacturing Co.
4.4.3. Merida Industry Co Ltd
4.4.4. NCM Bike
4.4.5. Norco
4.4.6. Pedego Electric Bikes
4.4.7. Riese & Müller
4.4.8. Robert Bosch GmbH
4.4.9. Specialized Bicycle Components
4.4.10. Trek Bicycle Corporation
5. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- AUSTRALIA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- AUSTRALIA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- AUSTRALIA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- AUSTRALIA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- AUSTRALIA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- AUSTRALIA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- AUSTRALIA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- AUSTRALIA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- AUSTRALIA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- AUSTRALIA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- AUSTRALIA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- AUSTRALIA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- AUSTRALIA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- AUSTRALIA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- AUSTRALIA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- AUSTRALIA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- AUSTRALIA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- AUSTRALIA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- AUSTRALIA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- AUSTRALIA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- AUSTRALIA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Australia E-bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type.
- In Australia, cycling is a common activity for the population. Men participate in cycling at a significantly higher rate than women, suggesting that men ride more frequently than women. Around 34.2% of people rode bicycles in 2017, recording a slight decline from 2016. In Australia, sales of e-bikes are growing quickly, and the import of e-bikes tripled in the past three years. The government has since announced that there would be a 5% charge for importing e-bikes. The increased tax would not apply to countries with free trade agreements with Australia, such as China, Cambodia, Indonesia, and the United States, but it might increase the price of e-bikes made in Taiwan, Europe, and India.
- According to the Australian Automobile Association, traffic congestion has caused an average reduction in driving speeds of 3-8% in the country's major cities. If significant policy changes are not made, congestion costs are predicted to reach between USD 27.7 and USD 37.3 billion by 2030. On the other hand, rising fuel prices, worsening traffic, growing interest in exercise and health, and increasing environmental consciousness are the key forces driving the Australian e-bike market. The demand for e-bikes is also driven by an increasing interest among the population in preserving the environment for future generations, primarily by combating environmental problems and the depletion of natural resources.
- Two recent breakthroughs that have had a substantial impact on the market dynamics for electric bicycles in Australia are the launch of high-end electric bicycles and the introduction of high-tech speed pedelec bikes with smartphone integration. The pedal-assisted segment held the biggest share of the Australian e-bike market during the historical period (2017-2022), but the speed pedelec segment is anticipated to be the fastest-growing segment over the forecast period.
Propulsion Type | |
Pedal Assisted | |
Speed Pedelec | |
Throttle Assisted |
Application Type | |
Cargo/Utility | |
City/Urban | |
Trekking |
Battery Type | |
Lead Acid Battery | |
Lithium-ion Battery | |
Others |
Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
Keyword | Definition |
---|---|
Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms