Canada E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 33.76 Million |
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Market Size (2029) | USD 86.27 Million |
|
Largest Share by Propulsion Type | Pedal Assisted |
|
|
CAGR (2024 - 2029) | 20.64 % |
|
|
Fastest Growing by Propulsion Type | Speed Pedelec |
|
|
Market Concentration | Low |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in alphabetical order. |
Canada E-bike Market Analysis
The Canada E-bike Market size is estimated at 33.76 million USD in 2024, and is expected to reach 86.27 million USD by 2029, growing at a CAGR of 20.64% during the forecast period (2024-2029).
33.76 Million
Market Size in 2024 (USD)
86.27 Million
Market Size in 2029 (USD)
11.49 %
CAGR (2017-2023)
20.64 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
80.10 %
value share, Pedal Assisted, 2023
The market was dominated by the pedal-assisted e-bike segment mainly due to the fact that pedal-assisted e-bikes do not require registration and licensing and face lesser regulations than other categories.
Largest Segment by Application Type
75.84 %
value share, City/Urban, 2023
The demand for city/urban e-bikes has grown significantly in the historical period due to the growing cycling infrastructure across the country. Increased bike-sharing programs and bike rental services have supported the demand for city/urban e-bikes.
Largest Segment by Battery Type
86.25 %
value share, Lithium-ion Battery, 2023
Li-ion batteries have a higher density than sealed lead-acid batteries, making them lighter and more efficient. Over the past few years, the prices of lithium-ion batteries have seen a significant decline, making them an ideal choice as e-bike batteries.
Fastest-growing Segment by Propulsion Type
5.96 %
Projected CAGR, Speed Pedelec, 2024-2029
The increased consumer preference for superior comfort, safety, power, and larger load capacity is expected to benefit the speed pedelec segment during the forecast period.
Leading Market Player
12.08 %
market share, Trek Bicycle Corporation, 2022
Trek Bicycle Corporation dominates the Canadian e-bike market. The company offers a diverse product line that appeals to a wide spectrum of consumers and has a strong dealer network across the country.
PROPULSION SEGMENT MARKET OVERVIEW
- In Canada, there is no classification system for electric bikes. However, e-bikes in Canada cannot exceed 500 W or 32 kmph. E-bikes with pedal-assisted and throttle-assisted functions are legal in Canada. For example, in June 2021, the Transportation and Environment Ministry of Canada awarded USD 200,000 to fund the City of Vancouver's pilot project to build an e-bike micro hub. Trucks will transfer packages to the hub, where they will be transported by cargo e-bikes to their final destination.
- E-bikes are being recognized as a new mode of transportation in cities across Canada, including Toronto and British Columbia. British Columbia provides an e-bike subsidy, potentially creating a market opportunity. Vancouver offers one of the most extensive e-bike retail outlets in British Columbia. The North Vancouver District develops comprehensive regulations for e-bike charging infrastructure.
- Rising government spending on bike-sharing programs, bike lanes, and more pedestrian-friendly streets is expected to increase consumer interest in e-bikes in the coming years as part of the government's broader efforts to promote transportation options, improve road safety, and better the environment. Electric bicycles, for example, are listed as one of the emerging forms of transportation in Vancouver's Transportation 2040 plan. E-bikes may eventually become the most eco-friendly mode of transportation in Canada in the future.
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Canada E-bike Market Trends
Canada's E-Bike adoption rates show a steady increase, indicating a growing awareness and acceptance of E-Bikes.
- The demand for bicycles has increased significantly across Canada over the past few years. The benefits of an electronic bicycle over conventional bicycles have sparked a surge in demand for e-bikes across Canada. Ease of riding, pollution-free travel, time savings, and cost efficiency are some of the major factors contributing to the adoption of e-bikes over other vehicles for daily commuting. As a result, e-bike adoption increased by 0.70% in 2019 compared to 2018.
- The rise of COVID-19 cases and the avoidance of public and shared transportation have positively impacted the sales and usage of personal vehicles, including e-bikes. People prefer e-bikes to other modes of transportation because they are one of the cheapest and most carefree vehicles, with very little maintenance cost compared to other vehicles. Such factors have resulted in the sales growth of e-bicycles, due to which the adoption rate of e-bikes among consumers in Canada increased by around 0.70% in 2020 over 2019.
- The growing awareness of e-bikes among Canadians is changing their attitudes, with factors such as effort savings, no fuel expenses, eco-friendliness, a cheap mode of transportation, and exercise benefits driving the growth of e-bikes. The country witnessed an e-bike adoption rate of 1.30% in 2022 over 2021, which is projected to grow further during the forecast period.
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Canada demonstrates a gradual and consistent rise in the percentage of commuters traveling 5-15 km daily, reflecting stable commuting habits.
- Over the past few years, the demand for bicycles in Canada has increased significantly as residents of various cities steadily adopted the bicycle culture. However, commuter travel of 5-15 km is still relatively low compared to other modes of transportation. In 2019, most people preferred traveling by car and public transportation, and less than 5% of the population opted to commute by bicycle to nearby places within 5-15 km.
- The pandemic strongly and positively affected the demand for bicycles in Canada. Due to COVID-19-related concerns, more Canadians opted to cycle or walk to work than ride public transportation. Due to the pandemic, the use of public transportation decreased by 10%. However, daily bicycle commuters registered a growth of more than 3% in 2020 over 2019. The introduction of e-bikes with advanced features and higher battery ranges has encouraged consumers to opt for bicycles, thus increasing the number of commuters in Canada within the 5-15 km travel range in 2021 over 2020.
- Despite the relaxation in pandemic-related restrictions, people continued to use bicycles as a mode of commute as they developed a habit during the pandemic. Many people commute daily by bicycle between offices, businesses, and marketplaces within a range of 5-15 km. More people are adopting bicycles due to their health benefits, carbon-free journeys, and time-saving advantages. These factors are anticipated to increase the use of bicycles for commuting between 5 and 15 km in Canada during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Canada's bicycle sales exhibit slight, consistent growth, reflecting a stable market with a steady demand for bicycles.
- Canada's inflation rates show a peak in 2022, with a steady return to normalcy, reflecting effective monetary policies.
- Canada's e-bike battery prices are trending downward, indicating cost efficiencies and growing market adoption.
- Canada's consistent increase in dedicated bicycle lanes indicates ongoing initiatives to integrate cycling into the urban transportation fabric.
- Canada's E-bike charging time is consistently reducing, reflecting the country's focus on promoting electric mobility and sustainable transport solutions.
- Canada's GDP per capita shows resilience with consistent growth post-2020, highlighting a recovering and stable economy.
- Canada's bicycle rental market rebounded strongly post-2020 and is on a steady path of growth, projecting a positive trend into 2029.
- Canada's hyper-local delivery sector is expanding steadily, reflecting a growing consumer preference for localized and convenient online shopping options.
- Canada exhibits a steady increase in the number of trekkers, reflecting the country's rich natural landscapes and growing popularity of trekking as a leisure activity.
- Canada's Traffic Congestion Index shows a slight downward trend, suggesting marginal improvements in traffic management or changes in commuting patterns.
Canada E-bike Industry Overview
The Canada E-bike Market is fragmented, with the top five companies occupying 36.94%. The major players in this market are Cannondale Bicycle Corporation, Giant Manufacturing Co., Pedego Electric Bikes, Trek Bicycle Corporation and Yamaha Bicycles (sorted alphabetically).
Canada E-bike Market Leaders
Cannondale Bicycle Corporation
Giant Manufacturing Co.
Pedego Electric Bikes
Trek Bicycle Corporation
Yamaha Bicycles
Other important companies include Cerv茅lo Cycles Inc., Propella Electric Bikes, Rad Power Bikes, Ride Aventon Inc., Royal Dutch Gazelle.
*Disclaimer: Major Players sorted in alphabetical order.
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Canada E-bike Market News
- November 2022: Cannondale announced a new global unified organizational structure that will eliminate regional GM and, the company said, leverage Pon.Bike to enhance operations and growth.
- November 2022: Cannondale enters urban e-mobility market with Compact Neo electric bicycle.
- October 2022: Cervelo introduces the ZHT-5 The bike is offered in 2 specs, with the ZHT-5 XX1 AXS, and the ZHT-5 GX Eagle AXS.
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.
Canada 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鈥�
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. Cannondale Bicycle Corporation
4.4.2. Cerv茅lo Cycles Inc.
4.4.3. Giant Manufacturing Co.
4.4.4. Pedego Electric Bikes
4.4.5. Propella Electric Bikes
4.4.6. Rad Power Bikes
4.4.7. Ride Aventon Inc.
4.4.8. Royal Dutch Gazelle
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鈥檚 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:
- CANADA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- CANADA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- CANADA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- CANADA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- CANADA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- CANADA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- CANADA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- CANADA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- CANADA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- CANADA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- CANADA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- CANADA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- CANADA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- CANADA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- CANADA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- CANADA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- CANADA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- CANADA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- CANADA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 56:
- CANADA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 57:
- CANADA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
Canada 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.
- In Canada, there is no classification system for electric bikes. However, e-bikes in Canada cannot exceed 500 W or 32 kmph. E-bikes with pedal-assisted and throttle-assisted functions are legal in Canada. For example, in June 2021, the Transportation and Environment Ministry of Canada awarded USD 200,000 to fund the City of Vancouver's pilot project to build an e-bike micro hub. Trucks will transfer packages to the hub, where they will be transported by cargo e-bikes to their final destination.
- E-bikes are being recognized as a new mode of transportation in cities across Canada, including Toronto and British Columbia. British Columbia provides an e-bike subsidy, potentially creating a market opportunity. Vancouver offers one of the most extensive e-bike retail outlets in British Columbia. The North Vancouver District develops comprehensive regulations for e-bike charging infrastructure.
- Rising government spending on bike-sharing programs, bike lanes, and more pedestrian-friendly streets is expected to increase consumer interest in e-bikes in the coming years as part of the government's broader efforts to promote transportation options, improve road safety, and better the environment. Electric bicycles, for example, are listed as one of the emerging forms of transportation in Vancouver's Transportation 2040 plan. E-bikes may eventually become the most eco-friendly mode of transportation in Canada in the future.
| Propulsion Type | |
| Pedal Assisted | |
| Speed Pedelec | |
| Throttle Assisted |
| Application Type | |
| Cargo/Utility | |
| City/Urban | |
| Trekking |
| Battery Type | |
| Lead Acid Battery | |
| Lithium-ion Battery | |
| Others |
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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鈥搈etal 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. |
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Research Methodology
糖心vlog传媒 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聽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
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