E-bike Drive Unit Market Continue To Rise

The size of the global E-bike drive unit market is set to hit almost USD 8.36 billion by the end of 2027 and is poised to grow at a CAGR of 4.43% during the forecast period 2020 to 2027.

Market Overview:

The most crucial part of an e-bike that significantly affects how well it performs is the drive unit. You are helped when riding thanks to the electric drive. The e-bike uses hub motors and mid-drive motors, two different types of drive units. In 2022, hub motors will account for a significant revenue share of about 70%. Due to their straightforward design, smaller weight, and lower manufacturing costs, hub motors are the most popular type of e-bike motor.

An e-bike must adhere to a list of standards to distinguish itself from motorcycles. The norm varies from country to country, but in Europe, particularly Sweden, the current restriction is a 40 kg (88 lb) maximum weight and a maximum continuous power of 250 W, with no cap on peak power.  The market for e-bike drive units is fragmented, with both international and local vendors present. Continental AG, Dapu, FAZUA GmbH, Brose Antriebstechnik GmbH und Co. KG, and others are a few well-known suppliers of e-bike drive units on the market.

Reports Highlights:

• By Product, The e-bike uses two different types of drive units: hub motors and mid-drive motors. The hub motor has held a 90% revenue share in 2019.  One of the most common ways that brushless DC motors, used in E-bikes, convert electrical energy into mechanical energy is the hub motor. Hub motors are electric motors that are placed inside the wheel hubs of the bike's front or back wheels. In e-bikes, they are the most prevalent kind of motor. As they run independently and put no strain on the drivetrain, they require little to no maintenance, which is the factor that mostly drives their demand.
• The mid-drive motors is exhibiting at the fastest over the forecast period. The main reasons mid-drive motors have surpassed hub motors in popularity are their ability to improve the bicycle's handling, torque, and speed. Electric assist motors on e-bikes that drive through the pedal cranks, often on crank rotation, are known as pedelec power. As technology has developed and gotten stronger, lighter, and more accessible, mid-drive innovations have become increasingly common in recent years.
• By Application, Over the forecast period, OEM is expected to achieve a market share in 2032. The e-bike is a cutting-edge and growing segment of the bicycle market, and the OEM is responsible for a sizeable portion of the profits made from the sale of e-bike drive units internationally. Major car parts producers with well-known brands and recognition across the world, such as Giant Bicycle, Yamaha Motor Company, Panasonic Industries, and many more, are considered OEMs in this industry.
• It has a lesser revenue share than OEMs because the technology is still in its infancy and the aftermarket for e-bike drive units is undeveloped globally. But Europe and China have a greater aftermarket for e-bikes and their parts because of their strong manufacturing capabilities and high e-bike demand.

E-bike Drive Unit Market Report Scope

Regional Insights:

Over the forecast period, the Asia-Pacific e-bike drive unit market is anticipated to grow with the fastest CAGR. The majority of the market shares for E-bike drive units in the Asia-Pacific region in 2021 came from China, which had a high adoption rate of electric bikes to deal with the country's congested traffic circumstances. The adoption of e-bikes will keep increasing because of the forecasted decline in the price of e-bikes.

Two of the primary market growth factors in Japan are the expanding customer base across all age groups and the introduction of electric sports bicycles. E-bikes are in high demand around the country. Moreover, it is believed that strong law enforcement would make e-bikes a viable substitute for gas-powered cars, enabling affordable daily commuting.

Europe is the second-largest producer of E-bike Drive Unit after the Asia Pacific, and it is showing encouraging signs that more people will start using them in the next few years. It is projected that the key reason driving the rise of this field will be the shared e-bike trend that is fast gaining hold in countries like Spain, Germany, Belgium, the Netherlands, and many more in the EU-27.  European countries are adopting e-bikes for a variety of reasons, including the benefits to human health and the environment, cost savings, the ability to avoid traffic congestion, and the increased demand for them as sports products. These factors are predicted to boost market expansion throughout the projected timeframe.

Market Dynamics:

Drivers:

The growing acceptance of mid-drive motors

Electric bike manufacturers are increasingly using mid-drive motors. It gives the bike's power a more organic feel and is situated in the center of it, between the pedals. In addition to being more powerful and responsive, they are also more economical than hub motors, which are situated in the wheel hub. As they can be mounted on a variety of bikes, including commuter cycles, road bikes, and mountain bikes, mid-drive motors are also more adaptable. It is significantly simpler to change hub motorized e-bike tires than mid-drive motorized e-bike tires. In turn, this will fuel the expansion of the e-bike drive unit market throughout the forecast period.

Restraints:

Distribution Channel Restrictions

The supply chain for e-bikes and the parts that go into them must include the distribution channel. E-bikes are a type of technologically sophisticated product that must properly demonstrate to clients how their features and technology meet their needs. The e-bike industry has a large number of independent retailers and dealers, but due to a lack of maintenance resources and expertise, the industry is unable to grow globally. The lack of technically skilled sales agents and a dedicated distribution network for e-bikes are expected to hinder the growth of the e-bike industry and, as a result, the market for e-bike drives units.

Opportunities:

Increasing Bike Sharing Trend

The bike-sharing sector is undergoing a big change as a result of the new e-bike trend. According to a report by Roland Berger released in 2018, there were more than 1,250 bike-sharing programs worldwide, and more than 10 million bikes were shared in 2017. Several e-bike producers have also signed up for the e-bike-sharing program to support environmentally friendly and healthy transportation systems. For instance, in February 2018, the smart mobility solution provider LimeBike announced plans to roll out a significant number of shared e-bikes, known as Lime-E, throughout Europe.

Challenges:

The high cost of e-bike drive unit

The sort of motor an e-bike has will determine how much it costs. A geared multi-speed motor with a small battery pack is one of the most effective motors that can be utilized in e-bikes. Charger and battery replacement charges are among the extra expenditures. These associated costs would limit the growth of the e-bike drive unit market throughout the forecasted period.

Recent Development:

• December 2022, For its Ebike Products, Yadea has partnered with a New U.S. Partner Recruiting Campaign as part of its 2023 national dealership marketing plan. As part of its aspirations to go worldwide, Yadea's Ebike is searching for regional agents and distributors in the US.
• July 2021, In Bethesda, Maryland, Pedego launched a new location that provides a comprehensive selection of e-bikes scales, rentals, servicing, and accessories.

Major Key Players:

• Robert Bosch GmbH
• Continental AG
• Yamaha Motor Corporation
• Panasonic
• Shimano
• MAHLE GmbH
• Giant Bicycles
• Bafang Electric (Suzhou) Co., Ltd
• Brose Fahrzeugteile SE & Co. KG
• Other

Market Segmentation:

By Product

• Mid-Drive Motors
• Hub Motors

By Application

• OEMs
• Aftermarket

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