E-Bike Drive Unit Market Regional Analysis:
Asia Pacific Market Insights
Asia Pacific industry is poised to account for largest revenue share of 84% by 2035. The region's favorable growth can be attributed to the rising substantial consumer base and the early adoption of the technology.
The significant manufacturing of e-bikes in China is the primary catalyst for the market expansion in the country. China solely provides subsidies for almost 90% of the overall manufacturing of e-bikes, and this pattern is projected to continue in the next years. During the 31st China International Bicycle Fair in Shanghai, the China Bicycle Association announced that China produced 49.238 million e-bikes, showing an 8.2% increase compared to the previous year.
India is experiencing a higher demand for e-bikes owing to the increasing customer demand. Notable electric bike manufacturers in India include Hero Electric, Ather Energy, Okinawa Autotech, Ampere Electric, Revolt Motors, Avon Cycles, Lectro Electric, Yulu Bikes, Kabira Mobility, and Earth Energy EV. On March 15, 2023, Hero Electric unveiled their newest electric two-wheeler, namely the Optima CX5.0 (Dual-battery), Optima CX2.0 (Single Battery), and NYX CX5.0 (Dual-Battery) and have supported the domestics manufacturing of e-bike components.
The Japan e-bike drive unit market is driven by wide product offerings, strong brand awareness and customer support, and established supply chain networks. The country’s persistent growth is ascribed to advancements in product offerings and fast-charging technology. In July 2022, Kawasaki introduced the Elektrode bicycle to the market. The product features three customizable speed settings, a disc braking system, a built-in battery, and a wheel-mounted motor. Consequently, these inventions contribute significantly to the substantial growth in market expansion.
North America Market Insights
The e-bike drive unit market in North America is experiencing consistent expansion, with a notable acceptance of the technology in the region. The demand for electric bicycles in North America is rapidly increasing as commuters seek appropriate methods of personal mobility.
The U.S. government is implementing several measures to encourage the use of electric bikes in the country. The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act bill was introduced by the U.S. government in March 2023. This bill offers American citizens a federal rebate of USD 1,500 to assist them in purchasing high-quality and affordable e-bikes. The aim is to reduce the occurrence of battery fires caused by e-bikes.
The sales of e-bikes in Canada are driven by manufacturers' growing emphasis on integrating enhanced motors, Anti-lock Braking Systems (ABS), and various other features into newly manufactured e-bikes. Therefore, the incorporation of these elements is intended to improve the rider's experience, thereby generating new prospects for growth for e-bike producers. Manufacturers of electric bikes, such as Velcro Canada Inc., iGO Electric Bikes CA, and Cycling Sports Group, Inc., see linked e-bike portfolios as a strategic chance to establish product differentiation in the local market.
