South Korea E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 90.34 Million |
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Market Size (2029) | USD 149.9 Million |
|
Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 10.66 % |
|
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Fastest Growing by Propulsion Type | Speed Pedelec |
|
|
Market Concentration | Low |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
South Korea E-bike Market Analysis
The South Korea E-bike Market size is estimated at 90.34 million USD in 2024, and is expected to reach 149.9 million USD by 2029, growing at a CAGR of 10.66% during the forecast period (2024-2029).
90.34 Million
Market Size in 2024 (USD)
149.9 Million
Market Size in 2029 (USD)
32.94 %
CAGR (2017-2023)
10.66 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
80.14 %
value share, Pedal Assisted, 2023
Pedal-assisted is the largest segment as these bikes are means of transportation for daily commuters. These bikes also help people maintain good health, save money on gasoline, and choose cleaner journeys.
Largest Segment by Application Type
78.19 %
value share, City/Urban, 2023
City/Urban is the largest segment, as these bikes are one of the common modes of daily commuting in South Korea. Using bicycles for deliveries also adds to the growth.
Largest Segment by Battery Type
91.02 %
value share, Lithium-ion Battery, 2023
Lithium batteries are the largest battery type due to their high usage as they are lightweight, have better range and quick charging capabilities, and are durable.
Fastest-Growing Segment by Propulsion Type
12.94 %
Projected CAGR, Speed Pedelec, 2024-2029
The adoption of high-speed bikes to avoid traffic conditions, which saves time and cost, makes speed pedelec the most popular and fastest-growing segment by propulsion type.
Leading Market Player
8.20 %
market share, Samchuly Bicycle, 2022
Well established brand image, strong product portfolio offering, easy availability of product due to large supply chain network has made Samchuly the largest player in South Korea E bike market.
PROPULSION SEGMENT MARKET OVERVIEW
- In South Korea, the primary growth drivers of the e-bike market include increased health consciousness among individuals, growing environmental concerns, increased traffic congestion, and rising government initiatives promoting cycling.
- The demand for bicycles in the country was positively impacted during the COVID-19 pandemic. Bicycles are used for daily commutes, sports, fitness, and hiking activities. Demand is mainly driven by the growing awareness of the health benefits of cycling. Vehicles that are safer, more comfortable, and more eco-friendly are in high demand, which may encourage associated businesses to develop a range of innovative peddle-assisted bicycles. The emergence of shared mobility businesses boosted the demand for such vehicles for daily commuting.
- Growing environmental awareness, increased traffic congestion, increased health consciousness, and growing cycling promotion programs by the government are the main growth factors in the industry. On the other hand, as South Korea's fuel prices and traffic congestion continue to rise, the government and its citizens are turning toward electric mobility. Pedal-assisted bicycles are better suited for shorter rides. However, speed pedelecs will likely become a better choice for longer distances. Although these bikes have diverse functions, they are cost-effective, reduce pollution, and make transportation easier. The South Korean e-bike market may grow in the next few years.
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South Korea E-bike Market Trends
South Korea's E-Bike adoption rates show a significant increase, indicating a rapidly growing market and consumer interest.
- The South Korean e-bike market is mainly driven by the application of e-bikes in micro-mobility services. The use of micro-mobility services has grown strongly since 2018 due to the high availability, low pricing, ease of functioning of such services, and less vandalism. Micro-mobility offers a low-cost travel option, attracting commuters. For instance, the average per-km cost of a micro-mobility service in the country is USD 0.15, compared to USD 1 for a car ride booked via a mobility-as-a-service (MaaS) platform. The low-cost commute option is motivating consumers to choose a suitable micro-mobility mode for first- and last-mile connectivity.
- During the COVID-19 pandemic, bicycle usage among people rose by more than 65% in Seoul as commuters avoided public transportation due to fear of transmission, thus boosting the market for e-bikes in South Korea. The number of bike-sharing firms has grown in recent years with the growing need for last-mile connectivity, particularly in metropolitan areas. Many well-known venture capitalists and manufacturers are investing in micro-mobility businesses, allowing service providers to expand their operations. Lime, Wind Mobility, and Beam Mobility are among the major micro-mobility businesses that garnered significant investment. Sequoia Capital, SoftBank Vision Fund, and DST Global are among the leading venture capitalists investing in start-ups.
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South Korea shows a steady increase in the percentage of commuters traveling 5-15 km daily, indicating consistent travel habits.
- The demand for bicycles in the country is gradually growing. However, the number of people commuting a distance of 5-15 km is still relatively low as most people prefer to travel via buses and other modes of transport. In 2019, fewer people chose to commute via bicycles within 5-15 km. However, in 2020, the number of people using bicycles to commute 5-15 km increased as they started exercising and going to nearby places, such as markets, during the pandemic-induced lockdown. Such factors increased the demand for bicycles in South Korea in 2020.
- The restrictions and lockdowns imposed to combat the COVID-19 pandemic positively impacted bicycle sales due to people's avoidance of public transportation and rental services, which increased the demand for bicycles. People started using bicycles to travel short distances, due to which the country witnessed a significant increase in the number of commuters traveling a distance of 5-15 km in 2021.
- Currently, many people are using bicycles to commute 5-15 km to their workplaces and markets. The number of people commuting to work by bicycle increased in 2022. It is expected to continue to increase during the forecast period, further boosting improvements in bicycle infrastructure and bicycle lanes in South Korea.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- South Korea's bicycle sales peak in 2021, followed by stabilization, indicating a market adjusting after a period of high demand.
- South Korea's inflation rates indicate control and stability, reflecting strong economic policies and market resilience.
- South Korea's e-bike battery prices show a consistent downward trend, indicating market growth and technological advancements.
- South Korea's steady growth in dedicated bicycle lanes signifies an ongoing effort to integrate cycling into the urban lifestyle and transportation network.
- South Korea's steady decrease in E-bike charging time reflects the country's technological innovation and focus on enhancing user convenience in electric mobility.
- South Korea's GDP per capita demonstrates steady growth, highlighting its strong industrial and technological sectors.
- South Korea's bicycle rental market maintains steady growth, indicating a solid presence and consistent consumer interest.
- South Korea's hyper-local delivery sector is on a notable upward trend, suggesting an increasing consumer reliance on local digital services.
- South Korea's trekker numbers are consistently rising, suggesting an increasing engagement with the country's natural beauty and outdoor activities.
- South Korea's Traffic Congestion Index is relatively high but stable, indicating persistent congestion and the need for effective traffic management strategies.
South Korea E-bike Industry Overview
The South Korea E-bike Market is fragmented, with the top five companies occupying 34.57%. The major players in this market are Maxon Motor AG, Myvelo Co. Ltd, Samchuly Bicycle, Scott Sports and VanMoof (sorted alphabetically).
South Korea E-bike Market Leaders
Maxon Motor AG
Myvelo Co. Ltd
Samchuly Bicycle
Scott Sports
VanMoof
Other important companies include Alton Sports Co. Ltd., Giant Manufacturing Co., Riese & M眉ller, Swagtron, Trek Bicycle Corporation.
*Disclaimer: Major Players sorted in alphabetical order.
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South Korea E-bike Market News
- December 2022: Alton Sports signed a contract with Kakao Mobility to supply 16.8 billion electric bicycles.
- December 2022: Alton Sports won an order worth KRW 17 billion.
- December 2022: Scott Sports launched Solace, a new drop-bar electric bike range that is based on TQ鈥檚 HPR550 motor system.
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.
South Korea 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. Alton Sports Co. Ltd.
4.4.2. Giant Manufacturing Co.
4.4.3. Maxon Motor AG
4.4.4. Myvelo Co. Ltd
4.4.5. Riese & M眉ller
4.4.6. Samchuly Bicycle
4.4.7. Scott Sports
4.4.8. Swagtron
4.4.9. Trek Bicycle Corporation
4.4.10. VanMoof
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:
- CONVETIONAL AND E-BIKE SALES, VOLUME IN UNITS, SOUTH KOREA, 2017 - 2029
- Figure 2:
- GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, SOUTH KOREA, 2017 - 2029
- Figure 3:
- INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, SOUTH KOREA, 2017 - 2029
- Figure 4:
- E-BIKE MARKET PENETRATION RATE, VOLUME PERCENTAGE, SOUTH KOREA, 2017 - 2029
- Figure 5:
- PROPORTION OF 5-15 KM DAILY TRAVELERS, PERCENTAGE, SOUTH KOREA, 2017 - 2029
- Figure 6:
- BICYCLE RENTAL SERVICE MARKET, REVENUE IN USD, SOUTH KOREA, 2017 - 2029
- Figure 7:
- COST OF LI-ION BATTERIES FOR E-BIKES, VALUE IN USD PER KWH, SOUTH KOREA, 2017 - 2029
- Figure 8:
- E-BIKE BATTERY TYPE PRICE COMPARISON, USD PER KWH, SOUTH KOREA, 2017 - 2029
- Figure 9:
- HYPER LOCAL DELIVERY SERVICE MARKET, REVENUE IN USD, SOUTH KOREA, 2017 - 2029
- Figure 10:
- LENGTH OF DEDICATED BICYCLE LANES, KM, SOUTH KOREA, 2017 - 2022
- Figure 11:
- TREKKER POPULATION, UNIT, SOUTH KOREA, 2017 - 2029
- Figure 12:
- AVERAGE CHARGING TIME OF E-BIKE BATTERIES, HOURS, SOUTH KOREA, 2017 - 2029
- Figure 13:
- TRAFFIC CONGESTION INTENSITY INDEX, SOUTH KOREA, 2017 - 2022
- Figure 14:
- SOUTH KOREA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- SOUTH KOREA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- SOUTH KOREA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- E-BIKE MARKET, BY PROPULSION TYPE, PEDAL ASSISTED, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 21:
- E-BIKE MARKET, BY PROPULSION TYPE, PEDAL ASSISTED, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 22:
- BREAKDOWN OF PEDAL ASSISTED E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 23:
- E-BIKE MARKET, BY PROPULSION TYPE, SPEED PEDELEC, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 24:
- E-BIKE MARKET, BY PROPULSION TYPE, SPEED PEDELEC, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 25:
- BREAKDOWN OF SPEED PEDELEC E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 26:
- E-BIKE MARKET, BY PROPULSION TYPE, THROTTLE ASSISTED, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 27:
- E-BIKE MARKET, BY PROPULSION TYPE, THROTTLE ASSISTED, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 28:
- BREAKDOWN OF THROTTLE ASSISTED E-BIKE MARKET BY APPLICATION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 29:
- SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- SOUTH KOREA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- E-BIKE MARKET, BY APPLICATION TYPE, CARGO/UTILITY, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 34:
- E-BIKE MARKET, BY APPLICATION TYPE, CARGO/UTILITY, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 35:
- BREAKDOWN OF CARGO/UTILITY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 36:
- E-BIKE MARKET, BY APPLICATION TYPE, CITY/URBAN, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 37:
- E-BIKE MARKET, BY APPLICATION TYPE, CITY/URBAN, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 38:
- BREAKDOWN OF CITY/URBAN E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 39:
- E-BIKE MARKET, BY APPLICATION TYPE, TREKKING, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 40:
- E-BIKE MARKET, BY APPLICATION TYPE, TREKKING, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 41:
- BREAKDOWN OF TREKKING E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 42:
- SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- SOUTH KOREA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- E-BIKE MARKET, BY BATTERY TYPE, LEAD ACID BATTERY, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 47:
- E-BIKE MARKET, BY BATTERY TYPE, LEAD ACID BATTERY, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 48:
- BREAKDOWN OF LEAD ACID BATTERY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 49:
- E-BIKE MARKET, BY BATTERY TYPE, LITHIUM-ION BATTERY, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 50:
- E-BIKE MARKET, BY BATTERY TYPE, LITHIUM-ION BATTERY, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 51:
- BREAKDOWN OF LITHIUM-ION BATTERY E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 52:
- E-BIKE MARKET, BY BATTERY TYPE, OTHERS, VOLUME, UNITS, SOUTH KOREA, 2017 - 2029
- Figure 53:
- E-BIKE MARKET, BY BATTERY TYPE, OTHERS, VALUE, USD, SOUTH KOREA, 2017 - 2029
- Figure 54:
- BREAKDOWN OF OTHERS E-BIKE MARKET BY PROPULSION TYPE, REVENUE SHARE (%), SOUTH KOREA, 2023 VS 2029
- Figure 55:
- SOUTH KOREA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
- Figure 56:
- SOUTH KOREA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
- Figure 57:
- SOUTH KOREA E-BIKE MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2022
South Korea 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 South Korea, the primary growth drivers of the e-bike market include increased health consciousness among individuals, growing environmental concerns, increased traffic congestion, and rising government initiatives promoting cycling.
- The demand for bicycles in the country was positively impacted during the COVID-19 pandemic. Bicycles are used for daily commutes, sports, fitness, and hiking activities. Demand is mainly driven by the growing awareness of the health benefits of cycling. Vehicles that are safer, more comfortable, and more eco-friendly are in high demand, which may encourage associated businesses to develop a range of innovative peddle-assisted bicycles. The emergence of shared mobility businesses boosted the demand for such vehicles for daily commuting.
- Growing environmental awareness, increased traffic congestion, increased health consciousness, and growing cycling promotion programs by the government are the main growth factors in the industry. On the other hand, as South Korea's fuel prices and traffic congestion continue to rise, the government and its citizens are turning toward electric mobility. Pedal-assisted bicycles are better suited for shorter rides. However, speed pedelecs will likely become a better choice for longer distances. Although these bikes have diverse functions, they are cost-effective, reduce pollution, and make transportation easier. The South Korean e-bike market may grow in the next few 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 |
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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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