Market Trends of china e-bike Industry
China demonstrates exceptionally high and increasing E-Bike adoption rates, highlighting a vast market and strong consumer adoption.
- China accounted for more than 90% of consumption in the Asia-Pacific e-bike market during the historical period, owing to the high sales of e-bikes in the country to tackle heavy traffic conditions and growing vehicle pollution. The import and export volumes of e-bikes in China have been large over the past years. Currently, China ranks as the largest exporter of electric bikes worldwide.
- The Chinese e-bike industry is largely driven by several government efforts and legislation supporting the use of green technology, thus boosting the demand for e-bikes with smart batteries and application platforms. Electric motorcycles made by Chinese manufacturers have gained favor in Europe due to their high quality and technical advancements. There has also been an increase in the demand for e-bikes in the country to prevent traffic congestion and accidents. The advent of rental services due to the rising focus on shared micro-mobility services has also benefited the industry. other factors driving the adoption of e-bikes include hyper-urbanization, a scarcity of parking spaces, and high transport expenses for fuel vehicles
- An electric bike is becoming an affordable option to many Chinese consumers, as it is priced at CNY 1,500-3,000 (about USD 180-360), which is a small fraction of the cost of a car. During the forecast period, the consumption of e-bikes is likely to continue to grow due to the decreasing cost of e-bikes in the Chinese market. Gasoline prices have risen in the country, while electricity prices in rural areas have dropped, making e-bikes more economically competitive to alternatives, like gasoline-powered scooters.
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China demonstrates a consistent rise in the population commuting 5-15 km daily, reflecting a gradual change in commuting patterns.
- Every year, the use of bicycles for transportation grows in China, driving their demand. This growing demand is leading to an increase in the number of people who use bicycles to commute 5-15 km per day. Nearly 15% of individuals in China used bicycles as their primary mode of transportation in 2020 to travel between 5 and 15 km daily to various locations, including offices and schools.
- The COVID-19 pandemic significantly boosted China's bicycle demand in 2020 and 2021 due to lockdowns and the closure of gyms and yoga studios. People also avoided public transportation to maintain social distancing and chose bicycles to commute to their workplaces, places of business, and other nearby sites in many Chinese cities. In 2021, there was an increase in the number of commuters traveling 5-15 km on bicycles.
- Currently, many people use bicycles to travel a distance of 5-15 km to their workplaces, places of commerce, and nearby markets. About 17% of daily commuters rode bicycles in 2022. Due to improvements in bicycle infrastructure and a variety of cycling promotion initiatives by the government, the number of people biking to work increased in 2022 compared to 2021. Such factors are anticipated to boost the number of commuters using bicycles to cover a distance of 5-15 km daily, which may also increase the demand for bicycles in China during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- China's bicycle sales peak in 2020, followed by a gradual decline, suggesting market saturation or shifting consumer preferences.
- China shows a controlled inflation rate, indicating effective market regulation and economic stability.
- China's e-bike battery prices are decreasing, highlighting mass production efficiencies and strong market demand.
- China's notable increase in dedicated bicycle lanes aligns with its extensive initiatives to promote cycling as an essential part of urban mobility.
- China's E-bike charging time is decreasing rapidly, showcasing the country's commitment to improving electric mobility solutions and battery performance.
- China's consistent GDP per capita growth underscores its rapid economic expansion and global influence.
- China's bicycle rental market is seeing exponential growth, firmly establishing it as a dominant force in the sector.
- China's hyper-local delivery sector is witnessing unprecedented growth, indicating a significant market shift towards localized digital solutions.
- China's number of trekkers is increasing notably, reflecting the country's vast and varied landscapes and a growing interest in outdoor recreational activities.
- China's Traffic Congestion Index is on a notable downward trend, reflecting successful efforts in managing traffic congestion and improving urban mobility.
