At 10.3% CAGR, the Asia Pacific E-Bike Market is Projected to be Worth US$ 51,660.04 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the Asia Pacific e-bike market was valued at US$ 23,526.20 million in 2022 and is expected to reach US$ 51,660.04 million by 2030, registering a CAGR of 10.3% from 2022 to 2030. Government support to lower carbon emissions transportation and growth of outdoor sports and adventurous activities are among the critical factors attributed to the Asia Pacific e-bike market expansion.

Governments of countries established various incentive programs to promote e-bike and electric vehicle sales to reduce carbon footprints.

Governments of China and India establish subsidy schemes to promote electric vehicle sales to reduce carbon footprints. The Ministry of Finance and Ministry of Commerce in China offers the maximum subsidy of up to US$ 36 per vehicle for e-bikes in rural areas, with 80% of subsidies from the central government's budget, and 20% from the provincial budget. In India, government subsidy program on e-bikes offers subsidies of up to 25% of the overall e-bike cost with a maximum purchase incentive of up to US$ 65. The government also planned a fixed additional incentive of US$ 25 for the first 10,000 e-bikes, apart from other subsidies and bonuses. 

Such, rising government incentives and subsidies for the adoption of the e-bikes and to decarbonize the environment globally is driving the market growth.

On the contrary, high cost of e-bikes and requirement of huge capital investments in their manufacturing hampers the growth Asia Pacific e-bike market.

Based on battery type, the Asia Pacific e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held 67.4% share of the Asia Pacific e-bike market in 2022, amassing US$ 15,861.36 million. It is projected to garner US$ 36,110.37 million by 2030 to expand at 10.8% CAGR during 2022-2030.

In terms of motor type, the Asia Pacific e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held 75.7% share of the Asia Pacific e-bike market in 2022, amassing US$ 17,804.62 million. It is projected to garner US$ 39,881.55 million by 2030 to expand at 10.6% CAGR during 2022-2030.

Based on class, the Asia Pacific e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held 46.0% share of the Asia Pacific e-bike market in 2022, amassing US$ 10,818.29 million. It is projected to garner US$ 23,928.93 million by 2030 to expand at 10.4% CAGR during 2022-2030.

By mode, the Asia Pacific e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held 68.9% share of Asia Pacific e-bike market in 2022, amassing US$ 16,218.96 million. It is projected to garner US$ 37,143.57 million by 2030 to expand at 10.9% CAGR during 2022-2030.

Based on country, the Asia Pacific e-bike market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 96.1% share of Asia Pacific e-bike market in 2022, amassing US$ 22,599.26 million. It is projected to garner US$ 49,077.04 million by 2030 to expand at 10.2% CAGR during 2022-2030.

Key players operating in the Asia Pacific e-bike market are Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd, among others.

• In 2023, Yamaha Bicycles launched a new e-commerce platform for selling its e-bikes online in partnership with its area network of dealers. E-bike models can be purchased online from their nearest Yamaha Bicycle dealers.
  
  
• In 2023, Bosch eBike Systems launched Performance Line SX lightweight drive unit for the e-bikes to expand the smart system portfolio.
  
  
  
  
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