Japan E-bike Market Size
Icons | Lable | Value |
---|---|---|
Study Period | 2017 - 2029 | |
Market Size (2024) | USD 0.99 Billion | |
Market Size (2029) | USD 1.78 Billion | |
Largest Share by Propulsion Type | Pedal Assisted | |
CAGR (2024 - 2029) | 12.57 % | |
Fastest Growing by Propulsion Type | Speed Pedelec | |
Market Concentration | Low | |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Japan E-bike Market Analysis
The Japan E-bike Market size is estimated at 0.99 billion USD in 2024, and is expected to reach 1.78 billion USD by 2029, growing at a CAGR of 12.57% during the forecast period (2024-2029).
0.99 Billion
Market Size in 2024 (USD)
1.78 Billion
Market Size in 2029 (USD)
13.05 %
CAGR (2017-2023)
12.57 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
81.35 %
value share, Pedal Assisted, 2023
Daily commuting to offices, maintaining health, saving fuel, and opting for cleaner rides that are easily affordable are contributing to the growth of pedal-assisted bicycles.
Largest Segment by Application Type
78.56 %
value share, City/Urban, 2023
The usage of bikes in various locations for several purposes, such as offices, businesses, schools, and courier deliveries, is increasing the share of city/urban bikes by application.
Largest Segment by Battery Type
89.65 %
value share, Lithium-ion Battery, 2023
Cutting-edge technology, better range, long battery lives, and quick charging features are facilitating the increased use of lithium-ion batteries in bicycles.
Fastest-Growing Segment by Propulsion Type
16.83 %
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
9.53 %
market share, Asahi Cycle Co. Ltd, 2022
Strong brand awareness, wide product offering satisfying various usage and needs of customer well established supply chain network has made Asahi a largest market player in Japan E bike market.
PROPULSION SEGMENT MARKET OVERVIEW
- Japan is an Asian country that is no stranger to electric bikes. Electric power-assisted bicycles were introduced to the Japanese market, aiding the elderly by requiring less physical strength to navigate their daily life on a bicycle. The fundamental advantage of motorized bicycles, such as pedelecs, is the ease with which they may be used in daily life, such as doing errands or commuting. The majority of pedelec owners in Japan purchased their pedal-assist electric bicycles because they live in a residential area with a high number of slopes.
- Due to the island's rough geography, Japan's road system comprises more than 1.28 million kilometres of length and hundreds of bridges and tunnels. Because there are so many highways in Japan with little traffic, long-distance cycling is extremely common throughout much of the country. In 2021, pedal electric cycles (pedelecs), which make up around 12.2 percent of all new bicycle sales in Japan, will typically cost between 70 and 150 thousand Japanese yen.
- In Japan, the number of events using motorised bicycles has decreased from approximately 23.14 thousand in 2011 to fewer than 7,000 in 2020. The increased number of bicycles on the road reduces the likelihood of an accident. Rising youth interest in sports such as uphill cycling, as well as increased awareness of a healthy and active lifestyle, are expected to fuel market demand in the future years. The pedal-assist bicycle is useful for short distances, but the speed Pedelec will be the most convenient option in the near future. Furthermore, as power and speed capabilities improve, consumers will most likely gravitate toward the Speed Pedelec category in the coming years.
Japan E-bike Market Trends
Japan exhibits a consistent increase in E-Bike adoption rates, reflecting growing market penetration and consumer acceptance.
- The e-bike market in Japan is quickly becoming the most popular mode of transportation in urban areas. E-bikes are more agile and quicker than cars as they are extremely maneuverable and can readily dodge obstacles that cause a vehicle to slow down.
- In recent years, the number of e-bikes sold in Japan has increased, showing significant demand from a growing number of older people and working parents with young children. Older people were the major target demographic when electric power-assist bicycles were first introduced to the Japanese market. Motorized bicycles, such as pedelecs, are more convenient to commute. The elderly benefit from these bicycles as they allow them to exert less physical strength to navigate their everyday lives. However, in recent years, parents of preschool children have grown to rely on the convenience of e-bikes while dropping their children at daycare centers.
- Due to the resumption of business activities and the removal of trade restrictions imposed during lockdown, the adoption of e-bikes increased in Japan. Lifting trade regulations has benefited the country's import and export activities. Due to e-bikes features and benefits, such as fuel efficiency and time savings, their adoption rate is projected to increase in Japan in the future.
Japan maintains a high percentage of commuters traveling 5-15 km daily, indicating a strong preference for this travel distance.
- The bicycle culture is gaining popularity in the country. Over the years, bicycle demand in Japan has increased. The usage of bicycles for commuting to various places, such as schools, marketplaces, and job sites, is increasing in the country. In 2020, more people started using bicycles to travel a distance of 5-15 km for exercising and going to nearby places, such as markets or offices. Therefore, the demand for bicycles in Japan increased in 2020 compared to 2019.
- The restrictions and barriers imposed during the pandemic significantly and favorably affected the bicycle market in Japan. For short trips, more Japanese choose to walk or bike instead of using other automobiles. The availability of e-bikes with more sophisticated features and longer battery lives also encouraged individuals to choose bicycles for weekend activities and exercise, further boosting the number of commuters in Japan who traveled 5-15 km on bicycles in 2021 compared to 2020.
- Bicycle use for short trips became common as people habitually used bicycles to commute to nearby places. Currently, many individuals commute daily by bicycle, covering a distance of 5-15 km to local markets and workplaces. More people prefer to commute by bicycle due to the growing health benefits, carbon-free commuting, and saving time by avoiding traffic. These factors are anticipated to increase the number of people commuting a distance of 5-15 km in Japan during the forecast period.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Japan's bicycle sales show a steady market with a slight downward trend, reflecting mature market conditions.
- Japan maintains low and stable inflation rates, demonstrating its strong economic structure and policy effectiveness.
- Japan's e-bike battery prices are steadily declining, indicating a mature market and technological innovation.
- Japan's consistent growth in dedicated bicycle lanes showcases the country's commitment to enhancing cycling infrastructure and promoting eco-friendly transportation.
- Japan shows a significant decrease in E-bike charging times, highlighting the country's advancement in fast-charging technology and efficient battery systems.
- Japan's GDP per capita indicates a stable economy with a focus on high-value industries and innovation.
- Japan's bicycle rental market is growing steadily, reflecting a consistent demand and a stable market environment.
- Japan's hyper-local delivery sector is expanding, reflecting a strong consumer shift towards convenience and localized online services.
- Japan shows a steady increase in trekker numbers, indicating sustained interest in its natural beauty and well-established trekking trails.
- Japan's Traffic Congestion Index is decreasing, suggesting effective congestion management strategies and possibly a shift in transportation habits.
Japan E-bike Industry Overview
The Japan E-bike Market is fragmented, with the top five companies occupying 31.11%. The major players in this market are Asahi Cycle Co. Ltd, Fujikom Co. Ltd, Maruishi, Panasonic Cycle Technology Co. Ltd and Yamaha Bicycles (sorted alphabetically).
Japan E-bike Market Leaders
Asahi Cycle Co. Ltd
Fujikom Co. Ltd
Maruishi
Panasonic Cycle Technology Co. Ltd
Yamaha Bicycles
Other important companies include Bridgestone Cycle Co. Ltd, Jiangsu Xinri E Vehicle Co. Ltd, Kawasaki Motors Corporation Japan, Shimano Inc., Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
Japan E-bike Market News
- November 2022: Jiangsu Lvneng Electrical Bicycle Technology Co., Ltd. has introduced the 20F02 folding electric bicycle.
- July 2022: Kawasaki debuted the Elektrode bicycle in the market. It has three adjustable speed modes, a disc brake, an integrated battery, and a motor located on the wheel. The list cost is $1,099.
- June 2022: Yamaha has introduced a new mid-drive electric bike motor with increased power in a smaller package.
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.
Japan 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. Asahi Cycle Co. Ltd
4.4.2. Bridgestone Cycle Co. Ltd
4.4.3. Fujikom Co. Ltd
4.4.4. Jiangsu Xinri E Vehicle Co. Ltd
4.4.5. Kawasaki Motors Corporation Japan
4.4.6. Maruishi
4.4.7. Panasonic Cycle Technology Co. Ltd
4.4.8. Shimano Inc.
4.4.9. Trek Bicycle Corporation
4.4.10. Yamaha Bicycles
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:
- JAPAN E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- JAPAN E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- JAPAN E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- JAPAN E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- JAPAN E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- JAPAN E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- JAPAN E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- JAPAN E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- JAPAN E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- JAPAN E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- JAPAN E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- JAPAN E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- JAPAN E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- JAPAN E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- JAPAN E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- JAPAN E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- JAPAN E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- JAPAN E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- JAPAN E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- JAPAN E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- JAPAN E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Japan 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.
- Japan is an Asian country that is no stranger to electric bikes. Electric power-assisted bicycles were introduced to the Japanese market, aiding the elderly by requiring less physical strength to navigate their daily life on a bicycle. The fundamental advantage of motorized bicycles, such as pedelecs, is the ease with which they may be used in daily life, such as doing errands or commuting. The majority of pedelec owners in Japan purchased their pedal-assist electric bicycles because they live in a residential area with a high number of slopes.
- Due to the island's rough geography, Japan's road system comprises more than 1.28 million kilometres of length and hundreds of bridges and tunnels. Because there are so many highways in Japan with little traffic, long-distance cycling is extremely common throughout much of the country. In 2021, pedal electric cycles (pedelecs), which make up around 12.2 percent of all new bicycle sales in Japan, will typically cost between 70 and 150 thousand Japanese yen.
- In Japan, the number of events using motorised bicycles has decreased from approximately 23.14 thousand in 2011 to fewer than 7,000 in 2020. The increased number of bicycles on the road reduces the likelihood of an accident. Rising youth interest in sports such as uphill cycling, as well as increased awareness of a healthy and active lifestyle, are expected to fuel market demand in the future years. The pedal-assist bicycle is useful for short distances, but the speed Pedelec will be the most convenient option in the near future. Furthermore, as power and speed capabilities improve, consumers will most likely gravitate toward the Speed Pedelec category in the coming years.
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