Saudi Arabia Electric Bike Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.04 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Electric Bike Market Analysis
The Saudi Arabia E-Bike market was valued at USD 1.06 million in 2021 and is expected to reach USD 2.47 million by 2027, growing at a CAGR of 6.04% over the forecast period.
The Saudi Arabia E-bike market encountered a downfall because of the Coronavirus pandemic in 2020, owing to travel restrictions and the shutdown of manufacturing units across the country. However, by the end of 2021, the market had regained its momentum, primarily driven by fitness enthusiasts and sports athletes.
Over the medium term, the demand in the market is expected to be driven by growing consumer awareness and interest of consumers towards a healthy and enthusiastic lifestyle. With the changing preference of people in the country, more and more people are opting for green mobility solutions and opting for e-bikes. Although the market in the area is still in its early phases, it is expected that Saudi Arabia, in particular, would have a significant portion of the overall sector in the next years.
Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market during the forecast period. As cities emerge from lockdowns, the demand for e-bikes is picking up pace due to their convenience and cost of operations.
Moreover, The growing commercialization of lightweight and longer battery life of e-bikes is propelling lucrative revenue streams. Bike manufacturers are also expanding the array of automobiles with different mileage and specifications to cater to the wide range of requirements of riders for the daily urban commute.
Saudi Arabia Electric Bike Market Trends
This section covers the major market trends shaping the Saudi Arabia E-Bike Market according to our research experts:
E-Cargo Bikes Segment is Expected to Play Key Role in the Market Growth
E-cargo bikes are a low-cost, environmental-friendly way to transport a variety of goods. The cost of running e-cargo bikes is substantially lower than as compared to conventional fuel vehicles and is even less as compared to small electric vans, the cost of transportation is very low for e-cargo bikes. Further supporting government regulations further poised to create positive outlook for the market. The e-cargo bike segment of the Saudi arabia e-bike market expected to see positive demand over the forecast period with majority demand being driven by food delivery, logistics, etc. companies who are focused on adopting eco-friendly fleet in wake of environmental targets and fluctuation in fuel prices in the country.
Though many of the key players operating in the market either through their location specific offerings or through local dealers the players are intended to expand their presence in the market by adopting growth strategies like launches, product development, mergers, acquisitions, etc. anticipated to help market grow during the forecast period. For instance,In July 2020, Raleigh launched new range of e-cargo bikes into the market and these E-Cargo bikes are designed to carry up to 100kg in weight and have a range of up to 75km on one single charge. Thus, such developments are likely to lead to market growth significantly over the forecast period. With the aforementioned trends and development, it is expected that the market segment will grow at a healthy rate during the forecast period.
Lithium-ion Battery Anticipated to be Most Preferred Consumers Choice During Forecast Period
The lithium-ion segment in e-bike market across Saudi Arabia anticipated to grow significantly over the forecast period. Lithium-ion batteries optimize for both total weight and energy, and offer the best range and longevity compared to their counterparts. Li-ion battery types can also be molded into different shapes or unique spaces, making them ideal for high capacity and low power applications and helps the consumer in easy charging and long battery range.
In addition, These have become the standard battery for electric bikes, accounting for more than 90% of the market. The LiPo is a rechargeable battery that is cheap and relatively easy to discharge at higher C-rates. So several key players are embedding these lithium ion batteries in the vehicles to attract consumers. For instance, In September 2020, Giant unvieled a new e-MTB for 2021, called Giant Trance X E+ Pro 29 1. The new Trance X E+ gets an all-new chassis that is optimized around 29in wheels with 2.6in tires front and rear with a 150mm fork up front and 140mm of rear-wheel travel courtesy of the Maestro dual-link platform. It offers Lithium ion, The EnergyPak 625 battery is cleanly integrated into the downtube of the lightweight ALUXX SL frame.
Though Pandemic has unvieled the difficulties in supply chain and overdependancy of the players operating in this segment on Asia-Pacific ountries especially china, this scenario is slowly changing and in future the battery manufacturers and the OEMS too anticipated to expand their production plants to mitigate such future risks. Therefore, the Lithium ion battery segment of the market studied expected to witness notable growth during the forecast period.
Saudi Arabia Electric Bike Industry Overview
The Saudi Arabia E-Bike market is moderately consolidated as the market is being driven by the presence of several global and local players. The companies operating in the market are diversifying their product portfolios through innovations and new launches to continue being the market leaders.
Saudi Arabia Electric Bike Market Leaders
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Giant Manufacturing Co. Ltd
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Trek Bicycle Corporation
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TRINX Bikes
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Accell Group
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Specialized Bicycle Components, Inc
*Disclaimer: Major Players sorted in no particular order
Saudi Arabia Electric Bike Market News
- In June 2022, TIER, the world's leading shared micro-mobility provider that offers electric vehicles ranging from e-scooters to e-bikes, announces its arrival to the Kingdom of Saudi Arabia through a partnership with Sela Sport Company.The partnership was initiated by SoftBank Investment Advisers in Riyadh following SoftBank's investment in Tier in November 2020.
- In December 2021, Fenix, a leading electric mobility platform in the Middle East, has launched on-demand shared electric bikes to residents and visitors in select areas of the UAE and Qatar.In Qatar, Fenix has entered into an exclusive micromobility partnership with Aspire Zone in Doha, to provide visitors with a safe, convenient and efficient means of transport across the sports complex via its Fenix e-bikes.
Saudi Arabia Electric Bike Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value USD Million)
5.1 By Propulsion Type
5.1.1 Pedal Assisted
5.1.2 Throttle-assisted (Power-on-demand)
5.2 By Application
5.2.1 E-Mountain
5.2.2 Cargo
5.2.3 City/Urban
5.3 By Battery Type
5.3.1 Lithium-ion Battery
5.3.2 Lead-acid Battery
5.3.3 Other Battery Types
5.4 By Power
5.4.1 Less than and Equal to 250W
5.4.2 Above 250W
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Trek Bicycle Corporation
6.2.2 TRINX Bikes
6.2.3 Eveons Mobility Systems LLC
6.2.4 Giant Manufacturing Co. Ltd
6.2.5 Accell Group
6.2.6 Specialized Bicycle Components, Inc
6.2.7 myStromer AG
6.2.8 ONE Moto
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Saudi Arabia Electric Bike Industry Segmentation
An electric bike is a motorized bicycle with an integrated electric motor used to assist propulsion. Many kinds of e-bikes are available worldwide, but they generally fall into two broad categories: bikes that assist the rider's pedal power and bikes that add a throttle, integrating moped-style functionality.
The Saudi Arabia E-Bike Market report covers details about the latest technologies, trends, and developments in the market. The Scope of the report covers segmentation based on Propulsion type, Application type, Battery type, and Power type.
By propulsion type, the market is segmented into Pedal-assisted and Throttle-assisted. By Application type, the market is segmented into City/Urban, E-Mountain, and Cargo. By Battery type, the market is segmented into lithium-ion Battery, Lead-acid Battery, and Other Battery Types.
By Power type, , the market is segmented into Less than and Equal to 250W and Above 250 W. For each segment, market sizing and forecast has been done on basis of value (USD million).
| By Propulsion Type | |
| Pedal Assisted | |
| Throttle-assisted (Power-on-demand) |
| By Application | |
| E-Mountain | |
| Cargo | |
| City/Urban |
| By Battery Type | |
| Lithium-ion Battery | |
| Lead-acid Battery | |
| Other Battery Types |
| By Power | |
| Less than and Equal to 250W | |
| Above 250W |
Saudi Arabia Electric Bike Market Research FAQs
What is the current Saudi Arabia E-Bike Market size?
The Saudi Arabia E-Bike Market is projected to register a CAGR of 6.04% during the forecast period (2024-2029)
Who are the key players in Saudi Arabia E-Bike Market?
Giant Manufacturing Co. Ltd, Trek Bicycle Corporation, TRINX Bikes, Accell Group and Specialized Bicycle Components, Inc are the major companies operating in the Saudi Arabia E-Bike Market.
What years does this Saudi Arabia E-Bike Market cover?
The report covers the Saudi Arabia E-Bike Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Saudi Arabia E-Bike Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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