Market Trends of E-bike Motor Industry
Increasing Technological Advancement to Enhance Growth of the Market -
The demand for e-bike motors is expected to continue to rise during the forecast period, as few e-bike motor manufacturers have started primarily focusing on developing and improving their motor product portfolios. Advancements in motor technology and battery systems can enhance the performance, efficiency, and range of e-bike motors, making them more appealing to a wider consumer base. Several key players operating across multiple sectors started focusing on improving their customer base by extending their services to be user-friendly. For instance,
In March 2023, Stryder launched the Stryder Zeeta, the latest in a series of technologically advanced electric bicycles backed by Tata Motors. Zeeta has an eye-catching design, with green and gray colors priced at INR 25,599. Stryder Zeeta is equipped with a powerful 36 V 250 W BLDC rear hub motor to give a seamless experience. Its innovative design includes a lithium-ion battery and controller integrated into the frame that can be fully charged in just 3 hours and a range of up to 40 km on a single charge in hybrid riding mode. Zeeta's advanced safety features include automatic cut-off braking for maximum driver protection.
In June 2023, Hyundai launched the Rayvolt Exxcite electric bicycle with a sleek and stylish design for the French market. The Hyundai ExxciteNext has a 250 W EPAC hub motor with a maximum torque of 50 Nm. It has a top-assisted speed of 16mph, and its in-built torque sensor ensures a seamless and smooth power delivery. The e-bike has a removable 14 Ah battery pack that seats neatly within the seat post. The battery offers a range of up to 50 miles on a single charge. These advancements act as drivers for the electric bike motor market. As a result, the cumulative effect of these aspects is likely to create positive momentum, attracting more buyers and ultimately strengthening the demand for the electric bike motor market.
Asia-Pacific is Expected to Witness Higher Growth During the Forecast Period -
The Asia-Pacific region is expected to be the market leader, and it is anticipated to remain dominant in the coming years. China is expected to experience a higher growth rate in the Asia-Pacific market due to the huge sales of e-bikes. China has contributed to more than 50% of the Asia-Pacific e-bike motor market over the past two years, due to its high consumption of electric bikes to tackle heavy traffic conditions, as well as growing vehicle pollution in the country. According to the China Bicycle Association, yearly electric bicycle sales in China surpassed 30 million units in recent years, with social e-bike ownership approaching 300 million units, and the output of bikes exceeding CNY 1,000 continues to rise. Annual production for 2021 is recorded at 33.7 million units. During the forecast period, the consumption of e-bikes is likely to continue to grow due to the decreasing purchase cost of e-bikes in the Chinese market.
Furthermore, India, South Korea, and Japan are also anticipated to grow significantly during the forecast period. The Indian e-bike motor market is currently in its early stages of development, with numerous local companies offering a diverse array of products. For instance, in January 2023, EMotorad launched India's affordable range of e-bikes at EM Summit 2023 in India. The E-bike has a 250 W rated power motor with 120 Nm torque. The demand for e-bike motors in tier-1 cities is rapidly increasing, as the sales registered a double-digit annual growth rate in India during the last few years. Some of the key factors propelling the growth of the market are the growing awareness of eco-friendly transportation choices like e-bikes and cycles to work and schemes provided by governments for the acquisition of e-bikes. Owing to such factors the demand for E-bike motors market will remain in a growth trajectory over the coming years and will have a subsequent positive impact on the E-bike motor market.
