Brazil E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 20.12 Million |
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Market Size (2029) | USD 27.95 Million |
|
Largest Share by Propulsion Type | Pedal Assisted |
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|
CAGR (2024 - 2029) | 6.79 % |
|
|
Fastest Growing by Propulsion Type | Speed Pedelec |
|
|
Market Concentration | Low |
Major Players |
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|
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|
*Disclaimer: Major Players sorted in alphabetical order. |
Brazil E-bike Market Analysis
The Brazil E-bike Market size is estimated at 20.12 million USD in 2024, and is expected to reach 27.95 million USD by 2029, growing at a CAGR of 6.79% during the forecast period (2024-2029).
20.12 Million
Market Size in 2024 (USD)
27.95 Million
Market Size in 2029 (USD)
11.47 %
CAGR (2017-2023)
6.79 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
86.30 %
value share, Pedal Assisted, 2023
The pedal-assisted segment is the largest, as people can easily afford these bikes. These bikes can also lift heavy loads easily and provide smoother rides by giving riders a boost on hills and similar terrains.
Largest Segment by Application Type
84.64 %
value share, City/Urban, 2023
The use of e-bikes for various applications, such as logistics and e-bike rental services and daily commuting to school and offices, has made the city/urban segment the largest application type.
Largest Segment by Battery Type
82.49 %
value share, Lithium-ion Battery, 2023
Lightweight, better range offering, long life, and fast charging technology are the factors making people choose bikes equipped with lithium batteries over lead acid batteries.
Fastest-Growing Segment by Propulsion Type
8.18 %
Projected CAGR, Speed Pedelec, 2024-2029
The speed pedelecs segment is expanding at the fastest rate due to rising consumer demand for fast bikes, owing to the requirement of quick traveling in congested areas while also saving fuel costs.
Leading Market Player
10.41 %
market share, Pon Bicycle Holding BV, 2022
Pon Bike has a wide range of products, a strong brand reputation, and simple access to its products due to a robust supply chain network, making it the largest brand for electric bikes in Brazil.
PROPULSION SEGMENT MARKET OVERVIEW
- The COVID-19 pandemic initially hindered the e-bike industry's growth. Consumers in Brazil started to favor e-bikes after the pandemic because it made private transportation more important than public transportation. Riders are converting to single-person transit because it uses less fuel and avoids congestion and crowds.
- The Brazilian e-bike market is still in the early stages of adoption and is expected to develop at the quickest rate in the future years. The rapid development of micro-mobility infrastructure in the area is the main factor causing the country to see tremendous growth in the near future.
- Because fuel prices are always growing, the government and consumers will turn toward electric mobility. Because the pedal assist bicycle is better suited for shorter distances, speed pedelecs will be the most practical option in the near future. As power and speed capabilities improve, consumers may gravitate toward speed pedelecs in the coming years. Although Brazil has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes.
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Brazil E-bike Market Trends
Brazil's E-Bike adoption rates, though modest, show steady growth, indicating a developing market and increasing consumer interest.
- The adoption rate of electric bicycles in Brazil is low at present. Many people in Brazil are still used to traditional modes of transportation, such as cars and motorcycles, and may be hesitant to adopt new forms of transportation, like electric bicycles. Despite the increasing popularity of electric bicycles in other countries, the concept of electric bicycles is still relatively new in Brazil, and many consumers are unaware of the benefits they offer.
- The future of the Brazilian e-bike market looks promising, with opportunities in the areas of traveling, exercise/fitness, and recreational activities. The major drivers for this market are increasing health-conscious consumers, high traffic congestion, environmental concerns, and increasing government initiatives to promote cycling to reduce carbon emissions.
- There are several local and international companies that manufacture and distribute electric bicycles in Brazil. Some of the major manufacturers in the market are Caloi, AIMED, Stealth Electric Bikes, Trek Bikes, and Specialized. These companies, along with other smaller manufacturers, compete to provide high-quality, affordable, and reliable electric bicycles to consumers in Brazil. The market is highly competitive, with new companies entering the market and existing companies expanding their offerings to meet the increasing demand for electric bicycles.
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Brazil has highest percentage of daily commuters in the range of 5 to 15 km in South America.
- In Brazil, the demand for bicycles is gradually increasing. While commuter travel between 5 and 15 kilometers grew in 2020 over 2019 as more individuals started to exercise and use bicycles for various areas like markets and other amenities, less than 5% of the population chose to commute by bicycle to nearby sites within 5 to 15 kilometers in 2019. However, commuter travel of between 5 and 15 kilometers is still very modest compared to other modes of transportation in Brazil.
- Following the COVID-19 pandemic, many individuals considered bicycles to be the most practical and effective mode of transportation for commuting in Brazil. The number of commuters in the area who travel 5 to 15 kilometers per day on a daily basis increased in 2021 over 2020 as a result of people choosing to exercise during the pandemic by bicycling or participating in weekend activities. Introducing e-bikes with advanced features and a higher range of 40 to 45 km is also encouraging consumers to opt for bicycles for daily commuting.
- Short-distance cycling grew popular as individuals formed a habit of utilizing bicycles for local destinations. Many people travel daily by bicycle, covering distances of between 5 and 15 kilometers, to various sites, including local markets. Due to the increased health advantages, carbon-free commuting, and time savings from avoiding traffic bottlenecks, more individuals are choosing to commute by bicycle. These variables are anticipated to increase commuter travel in Brazil between 5 and 15 kilometers during the projected period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Brazil's bicycle sales peak in 2021, followed by a slight downward trend, reflecting a market adjusting after a period of heightened demand.
- Brazil's inflation rates peak in 2022, with subsequent moderation, reflecting economic adjustments and stabilization efforts.
- Brazil's e-bike battery prices are gradually decreasing, indicating market maturity and increased accessibility.
- Brazil's steady increase in dedicated bicycle lanes reflects a growing initiative to promote cycling as a healthy and sustainable mode of transportation.
- Brazil's E-bike charging time is consistently decreasing, showcasing the country's progress in electric mobility solutions and sustainable transportation.
- Brazil's GDP per capita demonstrates recovery and growth, indicating economic stabilization and improvement.
- Brazil's bicycle rental market is rebounding strongly post-2020, indicating a recovering market with growing potential.
- Brazil is increasingly adopting e-bike deliveries in urban centers, driven by a focus on efficiency and reducing traffic congestion.
- Impact of Covid on Mountain Bikers
- Brazil often experiences high traffic congestion, particularly in urban centers, with a trend towards increased congestion in major cities due to urbanization and vehicle growth.
Brazil E-bike Industry Overview
The Brazil E-bike Market is fragmented, with the top five companies occupying 22.37%. The major players in this market are Jiangsu Xinri E-Vehicle Co. Ltd., Pedego LLC, Pon Bicycle Holding BV, Trek Bicycle Corporation and Yadea Group Holdings Ltd. (sorted alphabetically).
Brazil E-bike Market Leaders
Jiangsu Xinri E-Vehicle Co. Ltd.
Pedego LLC
Pon Bicycle Holding BV
Trek Bicycle Corporation
Yadea Group Holdings Ltd.
Other important companies include Accell Group, Giant Manufacturing Co. Ltd., Merida Industry Co. Ltd., Merida Industry Co. Ltd., Riese & Müller, Specialized Bicycle Components.
*Disclaimer: Major Players sorted in alphabetical order.
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Brazil E-bike Market News
- November 2022: Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd. has introduced the 20F02 folding electric bicycle.
- 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.
- August 2022: Haibike officially announced their new Yamaha PW-X2-powered ALLMTN 7, of all-new design, with a carbon fiber frame, Fox Float suspension, and Shimano XT drivetrain and brakes.
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.
Brazil 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. Accell Group
4.4.2. Giant Manufacturing Co. Ltd.
4.4.3. Jiangsu Xinri E-Vehicle Co. Ltd.
4.4.4. Merida Industry Co. Ltd.
4.4.5. Merida Industry Co. Ltd.
4.4.6. Pedego LLC
4.4.7. Pon Bicycle Holding BV
4.4.8. Riese & Müller
4.4.9. Specialized Bicycle Components
4.4.10. Trek Bicycle Corporation
4.4.11. Yadea Group Holdings Ltd.
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:
- BRAZIL E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- BRAZIL E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- BRAZIL E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- BRAZIL E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- BRAZIL E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- BRAZIL E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- BRAZIL E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- BRAZIL E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- BRAZIL E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- BRAZIL E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- BRAZIL E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- BRAZIL E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- BRAZIL E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- BRAZIL E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- BRAZIL E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- BRAZIL E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- BRAZIL E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- BRAZIL E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- BRAZIL E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- BRAZIL E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- BRAZIL E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Brazil 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.
- The COVID-19 pandemic initially hindered the e-bike industry's growth. Consumers in Brazil started to favor e-bikes after the pandemic because it made private transportation more important than public transportation. Riders are converting to single-person transit because it uses less fuel and avoids congestion and crowds.
- The Brazilian e-bike market is still in the early stages of adoption and is expected to develop at the quickest rate in the future years. The rapid development of micro-mobility infrastructure in the area is the main factor causing the country to see tremendous growth in the near future.
- Because fuel prices are always growing, the government and consumers will turn toward electric mobility. Because the pedal assist bicycle is better suited for shorter distances, speed pedelecs will be the most practical option in the near future. As power and speed capabilities improve, consumers may gravitate toward speed pedelecs in the coming years. Although Brazil has legislation limiting the use of throttle-assisted e-bikes, they are far less common than pedal-assisted e-bikes.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| Cargo/Utility | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
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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. |
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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
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