Global electric two wheeled market data and consumption analysis

Global electric two wheeled market data and consumption analysis

Against the backdrop of “carbon neutrality”, the electrification of two-wheeled mobility is accelerating globally.

Two-wheeled mobility products, such as electric bikes and e-scooters, continue to grow in popularity and have become iconic mobility tools for short-distance travel.

At the same time, electrification reform is beginning to sweep more markets, and global electric mobility is gradually being realized.

The electric two-wheeler market remains on a steady growth trajectory through 2023. The demand for personal mobility tools has shifted from avoiding close contact to the pursuit of environmentally friendly and healthy modes of travel.

Continuously rising market demand has attracted a large number of manufacturers to enter the market, driving product technology upgrades and intensifying market competition.

At the same time, the sudden surge in market size has also triggered a number of product safety accidents. The government’s attention to the tightening of regulations around the industry began to regulate the development of the market into an orderly stage of development.

So, what is the future market size of the electric two-wheeled industry? What changes will occur in the competitive landscape? What is the future development trend of the product?

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    Market size and growth trends

    According to Boston Consulting Group data, as of May 2022, the global microtransport market, which is dominated by electric two-wheelers and other vehicles, has reached nearly 100 billion euros, and the CAGR is expected to be more than 30% over the next ten years.

    The market size of hundreds of billions of dollars has made it a popular track for the present and future, and strong demand will also provide huge incremental space for market growth.

    According to the latest data from MarketsandMarkets, by the end of 2022, the global e-bike market will reach $49.2 billion, with a total shipment of 51.25 million units. Among the many types of travel products, the more practical e-bike products are more favored by consumers.

    E bike market global forecast to 2028

    At the same time, sales of e-scooters are increasing in the global market. According to a study by Grand View Research, Inc, the global e-scooter market will sell 6,351,000 units in 2021, an increase of 48.3%, and the global e-scooter market is expected to reach $12.26 billion, growing at a CAGR of 13.7% from 2023 to 2030. 13.7%.

    U.S. electric scooters market

    Under the global electrification revolution, more affordable electric scooters are also becoming popular in Southeast Asia and Africa.

    According to a new report by the think tank Powering Renewable Energy, the size of the African scooter market is expected to grow to $5.07 billion by 2027, and electric scooters will become the largest market in sub-Saharan Africa.

    According to a new report by the think tank Powering Renewable Energy, the African motorcycle market is expected to grow to US$5.07 billion by 2027, with electric motorcycles becoming the leading product in the sustainable transportation transition in sub-Saharan Africa.

    Two-wheeled electrification market expansion

    The global electric two-wheeler market began to slow down in 2023, but the market as a whole still maintains a growth trend, with Europe and the United States dominating the electric two-wheeler market beginning to expand, and the electrification revolution blowing to places such as Southeast Asia and Africa.

    Regions such as Europe and the United States, Southeast Asia and India have different development logics and stages in the two-wheeled vehicle market.

    Europe and the United States have a strong culture of bicycle riding, preferring pedal bicycles; while Southeast Asia and other places are constrained by infrastructure and economic levels, more need for fuel motorcycles with a long range and low cost, however, with the introduction of favorable policies and changes in consumer demand, Southeast Asia and other markets are also gradually showing the trend of electrification.

    Europe: In January-July 2023, the EU imported a total of 2,314,200 bicycles, with a total market value of €505 million, up nearly 7.59% over the same period in 2022. Russia is Europe’s largest market for electric scooters, with sales up 43% year-on-year to 245,000 units, according to first-quarter sales statistics.

    The majority of the population sees e-scooters as an economic alternative to taxis, car sharing and private cars, with 85% of purchases made by e-scooters and only 10% by e-bikes.

    Extra EU trade in bicycles

    U.S.: E-bike sales in the U.S. have risen year after year, up nearly 200% from 2019-2021, and according to STATIST, the North American e-bike market is expected to reach $4.1 billion by 2028.

    It is claimed that the e-bike market in the U.S. market in 2023 exceeded the million-unit mark for the first time, with a growth rate of 25%.

    Sales of electric bicycles in the United States

    However, compared to the size of the traditional bicycle industry for sports and outdoor riding, there is still much room for ebike penetration in the U.S. market.

    US bicycle sales to consumers thousands of units

    Southeast Asia: Southeast Asia is the world’s third largest two-wheeled vehicle market, relevant data show that in 2022, the ASEAN ten countries motorcycle market size of 10.6 million units, the first six months of this year, Southeast Asia motorcycle sales of 7.5 million units, is one of the fastest growing regions in the world.

    The motorcycle market share in the electrification of the reform has a huge space for market growth.

    China: The latest data from the China Bicycle Association shows that in 2021, sales of electric bicycles were 34 million units. 49.75 million electric two-wheeled vehicles were sold in 2021, and in 2022, the cumulative sales of China’s electric bicycle products were about 50 million, with a social retention of 350 million;

    SAMEBIKE RS-A01 pic4

    The latest data from the China Motorcycle Chamber of Commerce shows that in 2022, the sales of electric motorcycles in China were 763.27 million. Sales of electric motorcycles in China were 763.27 million in 2022.

    The latest data from the China Motorcycle Chamber of Commerce shows that in 2022, the sales of electric motorcycles in China will be 76,327,000, and the social retention of electric two-wheeled vehicles in China will reach 340 million in 2021, and the scale of China’s electric two-wheeled market will be ranked among the top in the world.

    Changes in global production patterns

    The global two-wheeler production landscape is undergoing significant changes.

    In the past, China dominated the global bicycle market, but the global production landscape is beginning to change with the rise of local production in Europe and the increased attractiveness of the Southeast Asian market.

    Europe has begun to encourage the development of a local bicycle industry and to attract external production, in addition to creating higher barriers to the import of bicycles, while increasing its capacity to produce and sell its own bicycles.

    Portugal, Romania and Italy and other countries bicycle production scale growth, in recent years, the EU bicycle production has been maintained at a growth rate of more than 10%, in 2021, the EU produced a total of 13.5 million bicycles, an increase of 11% compared with 2020, will be stretched to the time from 2012 to 2022, the EU bicycle production in the decade grew 29%, the last three years, the growth of the extremely fast.Bicycle production in the EU

    On the other hand, with the implementation of the Regional Comprehensive Economic Partnership (RCEP), the attractiveness of the Southeast Asian market has increased.

    Taking Cambodia as an example, the country’s bicycle exports exceeded $700 million in the first nine months of 2022, up 104% year-on-year, becoming a major supplier of bicycles to the EU, and Cambodia’s position in the global bicycle trade has increased, as the Southeast Asian market has begun to gradually take over the low-end production capacity of Chinese bicycles.

    Share of total EU bicycle imports by origin in 2020

    According to the China Bicycle Association, China’s bicycle output in 2021 was 76.397 million units, up 1.5% year-on-year. China’s bicycle industry will maintain a steady development trend in the future, and China’s bicycle production is expected to reach 78.465 million units in 2023.

    2017 2023 Production Trend of Chinas bicycle industry 10000 units

    According to China Customs data, China’s bicycle exports from January to October 2023 amounted to 33.32 million units, and the export value was US$2.199 billion, of which the total exports of electric bicycles in 2022 amounted to 16,166,100 units, and the total export value reached US$5.336 billion.

    Looking at China’s bicycle export data from 2017 to January-October 2023, its export quantity reached the maximum value in 2021, and its export value reached the maximum value in 2021, and has declined since then, but China is still the world’s largest bicycle producer.

    Statistics of Chinas bicycle exports from 2017 to 2023 in October 10000 units

    The global two-wheeler production landscape is currently changing, with China’s leading position being challenged and the rise of European and Southeast Asian markets putting the share of global bicycle production in a redistribution phase.

    Increased market competition

    With more and more entrants, the industry began to see a lack of market demand and high inventory as we entered 2023, and news of bankruptcies and acquisitions came from leading companies.

    For example, VanMoof, a famous Dutch e-bike brand that had received nearly $200 million in investment in two years and had more than 200,000 users worldwide, declared bankruptcy in August 2023, and was acquired by McLaren’s Lavoie at a rumored price of “tens of millions of dollars.”

    SAMEBIKE RS-A08 ebike

    The two-wheel electric market as a whole is also entering a period of volatility and adjustment, with bankruptcies, closures and financial difficulties the focus this year, unlike the previous high investment and market boom.

    Some regions are highly affected by policies and market demand is shrinking; some dealers are facing financial constraints; and the concentration of leading players is high, with competition tending to homogenize.

    SAMEBIKE LO26-II-FT 21 Speed Folding Mountain Electric Bike-1

    Early entry manufacturers witnessed the rapid changes in the track, from 20 years may have goods not to worry about selling, to 21 years as long as cost control is a little better, product homogenization does not worry about selling, and then this year, manufacturers began to think about more competitiveness issues from cycling culture, localized brands and overseas brands, product homogenization, and other multi-dimensional excavation.

    Scenario and Intelligent Development

    The production of key components for two-wheeled mobility products is concentrated in a few manufacturers, and various hardware configurations are gradually converging in the development of technology, which to a certain extent narrows the room for differentiation, so the design that responds to the needs of the masses is particularly important.

    From the “last mile” to a distance of more than 10 kilometers, from commuting transportation, life travel to sports and entertainment, the car owner’s car scene is becoming more and more diverse, but also promotes the diversified development of products.

    The positioning of electric two-wheelers has also changed, no longer just a simple travel tool, but gradually become a symbol of leisure, interest, sports and even fashion lifestyle.

    This trend reflects consumers’ diverse demands for products, including features such as intelligence, convenience and smoothness.

    Reasons for riding an e bike

    Based on range and battery, power and other performance needs, personalized intelligence needs and multiple scenarios have also become key factors in consumers’ purchasing decisions.

    In particular, intelligent features, such as security and anti-theft, vehicle condition detection, and smart charging, are popular among young, high-end customers.

    The future of vehicle intelligence is not only reflected in the safety and convenience of the vehicle, but also throughout the entire travel process of interaction, social interaction and other full-scene services and experiences.

    Consumer demographics and preferences

    The characteristics, needs and behaviours of different consumer groups will reflect the different characteristics of the products required.

    According to globalinforesearch data, the product segmentation of electric bicycles in the global market mainly includes mountain electric bike, electric road bikes, electric folding bikes and electric scooters.

    Among them, electric mountain bikes and city electric bike are the main types in the market, occupying 80% of the market share.

    Electric folding bikes are characterized by easy portability and are suitable for short-distance travel, with a market share of about 15%.

    Electric scooters are an emerging product, with lightweight, simple and easy to learn characteristics, suitable for short-distance urban travel and mobility, market share of about 10%.

    Electric bicycle product segmentation in the global market

    Age is also a key differentiating factor in product selection by consumer groups. Teenagers and young people as a group usually pay more attention to the fashionability, appearance design and brand influence of the product.

    They may be more inclined to choose products with bright colors and new styles, and have a relatively high brand awareness.

    Middle-aged people are more likely to consider practicality and economy when purchasing a car. They may focus on aspects such as battery range, charger efficiency, and motor performance to ensure the vehicle can provide reliable service and save on usage costs.

    Older adults may place more value on vehicle safety and ease of operation when purchasing a vehicle. They may focus on factors such as brake systems, shock absorbers, and seat comfort to ensure a safe and comfortable ride.

    There are also more specific segments, such as housewives who may place more value on the functionality and convenience of the vehicle when purchasing a vehicle.

    SAMEBIKE XD26 Hybrid Electric Bike-2

    They may look at factors such as the size of the load basket, the weight of the vehicle, battery life, etc. to facilitate their daily shopping and household chores.

    According to Varla Scooter’s user statistics, the purchasing population is 76.83% male, and the age group is mainly concentrated between 25 and 44 years old.

    This means that the main target users of e-scooters are professional scooter enthusiasts and long-distance commuters with financial means.

    Price is also an important consideration for consumers. According to Maxfox Bike’s article, 66.8% of respondents cited price as the main factor when considering purchasing an electric bike. data from Varla Scooter’s official website shows that its three most popular products are priced at about $1,000, and 50.4% of participants cited low cost of use as an important factor in the purchase decision.

    SAMEBIKE Pilot M20 EX electric dirt bike-5

    Safety needs lead to big brand spending. According to consumer research firm GfK, the need for safety will be a key factor influencing consumer behavior. As consumers become more concerned about safety, brand-oriented consumption patterns will become more prevalent.

    Bigger brands usually have stricter quality control standards and better supply chain management systems, providing consumers with more reliable product protection and are therefore more popular.

    This trend is particularly evident among young people, who are more likely to choose brands with a good reputation and a guarantee of high quality.

    Commercial two-wheeler market growth

    In addition to the personal travel market, with the maturation of the short-distance delivery industry, the rapid growth of B-side demand for instant delivery, cargo delivery, etc., and the gradual change in the consumption structure, the commercial sector will become an important growth driver of the market.

    The development of e-commerce shopping has opened up a large area of growth for the electric freight market.

    Before the epidemic, 40% of New York City’s deliveries were made door-to-door, and today it is 80%, and cargo bike deliveries have increased dramatically in New York City since the NYC DOT launched its Commercial Cargo Bike Pilot Program in 2019.

    With more than 130,000 cargo bike trips and more than 5 million packages delivered in 2022, electric cargo products in the last-mile logistics relay race have become the Efficient delivery modes and unparalleled advantages in reducing carbon emissions for other modes of transportation.

    SAMEBIKE LO26-II-FT ebike-1

    Takeaway delivery has also become a potential blue ocean marketsegment. The impact of the epidemic on U.S. grocery delivery has increased significantly.

    In August 2019, Americans spent $500 million on grocery delivery, demand slowed after the outbreak, but in the first half of 2022, Americans still spent $ 2.5 billion on grocery delivery, and European and American commercial electric motorcycles are sold at a high price, and the concept of asset leasing is mature.

    For example, for take-out platforms, through the leasing method can flexibly adjust the number of distribution vehicles according to the order demand, but also reduce the purchase and maintenance of vehicles huge expenditures, and can effectively solve the last mile micro travel and micro logistics pain points.

    Local laws tightened

    In recent years, the e-bike market has entered a phase of rapid expansion. The number of products has skyrocketed. On the one hand, people’s travel is more convenient.

    On the other hand, caused by e-bike safety are also increasing. For example, the United States by indoor charging, illegal modification, lithium battery failure and other causes of frequent fire accidents.

    In order to effectively eliminate the safety hazards of such products, last year New York City announced a ban on the sale of electric bicycles that do not meet UL standards for batteries, raising the threshold for market access;

    France’s shared mobility products are also subject to regulatory restrictions due to the frequent occurrence of safety accidents, and in 2022, electric scooter accidents in Paris resulted in 3 deaths and 459 injuries, and the number of accidents climbed, making the public seriously skeptical about the safety of electric scooters, and from September 1 last year, the number of electric scooters was reduced to 1.5 million.

    SAMEBIKE RS-A01 pic6

    And banned e-scooters from the roads from September 1st last year; organizers of Burning Man festival also warned participants that e-bikes would be added to the banned list if their behavior did not improve.

    In addition, some university campuses have begun banning e-bikes and e-scooters, and regulations on electric two-wheeled products are gradually being tightened around the world.

    For the e-bike industry, tighter regulation means higher production standards and stricter market access thresholds, which will drive the market towards standardization; for consumers, they will buy higher quality products and services, but they will also face higher prices due to increased production and distribution costs.

    Final words

    The development of the electric two-wheeled travel market will enter a stable period in 2023, and the global market demand will slow down, but in the long run, overseas demand for bicycles will still be relatively stable, and electrification reform will begin to expand to more markets and products, so the market and consumer demand will continue to grow.

    After bidding farewell to the dividend period, in the face of the new market situation, manufacturers are beginning to explore and meet consumer demand from multiple dimensions, and intensified competition in the market has promoted the upgrading of product technology.

    In addition to improving regulations around the world, the industry is moving in a more sustainable direction.

    Picture of Chocolatezhu
    Chocolatezhu
    Hi, I'm an experienced writer about mechanic and an expert on bike and e-bike tech who appreciates practical, beautifully-engineered things. And of course, I love cycling.
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