ASEAN Electric Bicycle Market Size By Product (Brush Electric Bicycle and Brushless Electric Bicycle), By Age Group(Age 20-40, Age <20 and Age >40), By Geographic Scope And Forecast
ASEAN Electric Bicycle Market Size By Product (Brush Electric Bicycle and Brushless Electric Bicycle), By Age Group(Age 20-40, Age <20 and Age >40), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
ASEAN Electric Bicycle Market Size By Product (Brush Electric Bicycle and Brushless Electric Bicycle), By Age Group(Age 20-40, Age <20 and Age >40), By Geographic Scope And Forecast
ASEAN Electric Bicycle Market Size And Forecast
ASEAN Electric Bicycle Market size was valued at USD 3.31 Billion in 2024 and is projected to reach USD 9.85 Billion by 2031, growing at a CAGR of 16.08% during the forecast period 2024-2031.
Adoption of eco-friendly electric bicycles, which can substantially reduce traffic congestion while emitting zero carbon emissions, will help reduce emissions and traffic levels, which is likely to drive the electric over the forecast period. Consumer adoption of eco-friendly vehicles is expanding as a result of increased awareness and government initiatives to promote the usage of battery-powered vehicles.
What is Electric Bicycle?
So, what's an e-bike? Basically, it's a bicycle with an electric motor and battery that gives you a boost! You can find all sorts of e-bikes out there, from ones that just give your pedaling a little help to super-powered ones you can drive with a throttle. They're versatile, eco-friendly, and look good too! Lots of people see them as a great alternative to scooters, smart cars, or even taking the bus. Because they're smaller and let you zip around with less effort (and still get some exercise!), they can really help cut down on traffic. That's why electric bikes are getting super popular in places like ASEAN.
ASEAN Electric Bicycle Overview
Consumer inclination toward using e-bicycles as an eco-friendly & effective alternative for commute, increase in fuel costs and rise in interest in cycling as fitness & recreational activity are projected to boost the market growth. However, the high cost of e-bicycles and a lack of infrastructure are expected to hinder industry expansion. Furthermore, rising e-MTB adoption and advancements in battery technology are likely to provide lucrative opportunities for the e-bicycle market to flourish.
With the inclination of customers toward e-bikes, governments in several countries are focusing on the development of infrastructure for e-bikes, such as bicycle tracks and public charging stations. Furthermore, market participants’ continual technological innovations in e-bikes are fuelling business expansion. As a result, all of these factors are projected to provide lucrative opportunities for the ASEAN E-bicycles market to grow throughout the forecast period.
Governments, scientists, policymakers, and industry professionals are collaborating to develop safety rules and improved urban infrastructure to facilitate broad bike/e-bike use. UNEP collaborated with electric vehicle groups in Malaysia, the Philippines, Singapore, and Thailand to establish detailed policy recommendations to encourage the use of electric two- and three-wheelers. The recent growing trends of adopting healthy lifestyle, rising cases of chronic diseases along with a increasing urbanization and road quality has contributed to the growth of overall cycling as a exercising activity among the urban age group of 20 to 40 ages.
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ASEAN Electric Bicycle MarketSegmentation Analysis
The ASEAN Electric Bicycle Market is segmented on the basis of Product, Age Group, and geography.
ASEAN Electric Bicycle Market By Product
Brush Electric Bicycle
Brushless Electric Bicycle
To Get Summarized Market Report By Product-
So, when it comes to electric bicycles, the market's basically split into two typesBrush Electric Bicycles and Brushless Electric Bicycles. Now, the Brush Electric Bicycle is currently holding the biggest chunk of the market, and get this – it's expected to keep growing at a rate of around 15.16% each year! What exactly is a "brush" e-bike? Well, it uses an electric motor with brushes. These brushed motors are DC motors where wound wire coils (the armature) act like a two-pole electromagnet. Turn on the motor, and the coil and commuter start spinning, while the permanent magnets and brushes stay put. When the current changes, the electromagnet's poles flip and push against the magnets outside the motor. Little metal "brushes" then pass the electrical juice to the commuter, which is a rotating part. On the other hand, a brushless electric bicycle has no contact between any internal motor parts, meaning practically no wear and tear. This makes the motor super durable! Brushless e-bikes have more complex controllers and can use three different windings. The power supplied changes depending on the position of the motor parts as they move.
ASEAN Electric Bicycle Market By Age Group
Age 20-40
Age <20
Age >40
To Get Summarized Market Report By Age Group-
When we look at who's buying electric bicycles in ASEAN, we can break it down by age20-40, under 20, and over 40. It turns out that folks aged 20-40 are buying the most right now, and we expect that group to keep growing by about 15.23% each year. Now, the under-20s, especially those between 10 and 19, are a big group too. They use bikes all the time – for getting around, playing sports, and just having fun since it's mostly teens and preteens. And, we think more of these younger riders will be wanting electric bikes with brushes, especially as more and more teens are using bikes every day. This is a key growth area to watch!
E-bikes are pretty cool, right? They give you a boost when you're pedaling, and you can go a lot faster than on a regular bike, which is why young people love them. But here's the thingsome studies show that e-bike use might be restricted for those under 18. Sadly, there's been an increase in accidents, which is slowing down how many young teens are getting into them. The good news is that countries like Malaysia and Thailand are working on solid rules and regulations. This could really open up a lot more opportunities for e-bikes to take off in the future.
ASEAN Electric Bicycle Market By Geography
Thailand
Malaysia
Singapore
Rest of ASEAN
To Get Summarized Market Report By Geography-
On the basis of regional analysis, the ASEAN Electric Bicycle is classified into Thailand, Malaysia, Singapore and Rest of ASEAN. Thailand accounted for the largest market share and is projected to grow at a CAGR of 14.76% during the forecast period. Southeast Asian countries such as Malaysia, Thailand, Singapore, Indonesia, Cambodia, Philippines Myanmar, and Vietnam, among others, are growing economically after India, China, Australia, Korea, and Japan.
Wow, check this outThe World Bank says that from 2001 to 2011, South Asia's cities swelled by a whopping 130 million people! And get this – they're expecting almost 250 million more to move to cities by 2030. Officially, the percentage of people living in urban areas only nudged up from 27.4% in 2000 to 30.9% in 2011 (that's about 1.1% growth each year). Here's the kickerthese new urban areas, where 130 million people now live, often have shaky buildings, people don't always own their homes securely, and they lack basic services. While growth in ASEAN countries is a bit slower, South Asia's urban boom is largely fueled by its booming manufacturing and services sectors.
Key Players
The major players in the market are Yadea, Accell Group, Hero Electric, Voltron, Gazelle, Twd Bicycle, Jimove, Jinhua Queene Electric Technology, Optima, Saneagle, La-Bicycle, Ampler Bikes.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Yadea, Accell Group,Hero Electric, Voltron,Gazelle,Twd Bicycle,Jimove,Jinhua Queene Electric Technology,Optima,Saneagle,La-Bicycle,Ampler Bikes.
SEGMENTS COVERED
By Product, By Age Group, and By Geography.
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