The development of electric bikes has significantly changed the context of urban travel and enjoyable cycling. These two-wheel marvels, combining the timeless appeal of cycling with the strength of electric assistance, have witnessed an impressive surge in popularity globally. According to Inkwood research, the global e-bike market is expected to grow with an anticipated CAGR of 9.92% during the forecast period.
Many businesses are adopting e-bikes for their activities. One such instance is the effective pilot program that the IKEA store in Delft, The Netherlands, conducted in December 2022 by utilizing a solar-powered cargo e-bike by Sunrider to transport goods to its clients inside the city center. After a favorable assessment, Inter IKEA Systems B.V., the global franchisor of IKEA, has decided to expand, giving IKEA retailers all over the world the chance to integrate a more affordable, accessible, and environmentally friendly substitute for their home delivery fleet in their local markets.
What does the e-bike market have in stock for us? Below are the top five trends in 2024.
Charging E-bikes – are we finally seeing a revolution here?
The development of higher-energy-density batteries has allowed for breakthroughs in battery technology, enabling more storage capacity without increasing the weight of the e-bike. Fast-charging stations, which can recharge the battery in a fraction of the time compared to conventional charging techniques, have also improved the infrastructure for charging. These developments lead to a more efficient and environmentally friendly form of transportation in addition to giving users longer journeys and less downtime.
Solid State Batteries – The way forward
For instance, in July 2023, the Swiss e-bike manufacturer Stromer, in collaboration with their innovation partner TD Hitech Energy, developed an advanced solid-state ceramic battery for the upcoming generation and showcased their first functional prototype battery at Eurobike.
This raises the following important questions:
- What are solid-state batteries specifically?
- In what ways will it transform the use and experience of e-bikes?
With almost double the energy storage capacity of lithium-ion batteries and none of the disadvantages associated with liquid components, solid-state batteries represent the next great technological advances. These batteries have longer lifespans, are safer due to lower fire danger, and are more sustainable due to their decreased reliance on cobalt and graphite.
Sustainable and Stylish
Like cars, owning the best-looking e-bikes with the latest features is a status symbol. They are becoming more accessible and fun for a wider range of people thanks to the trend toward lightweight construction. Innovative features like hidden batteries, sleeker motors, and minimalist frames are examples of how designers are combining modern and sleek aesthetics into electric bikes. Also, these fashionable designs have better functionality and user-friendliness in addition to improving their overall appearance. As an eco-friendly and stylish substitute for conventional forms of transportation, e-bikes are becoming more and more popular.
British automaker Lotus Cars unveiled the Lotus Type 136, the lightest e-bike motor from a high-performance system, in November 2023. It offers genuine dual-use capabilities so riders can travel farther, quicker, and higher. It has a small 193-watt-hour battery that weighs only 300 grams, looks like a water bottle, can be taken apart for charging, and weighs only 9.8 kg when fully loaded.
E-bikes have emerged as a game-changing alternative, focusing on pollution reduction and traffic congestion. Businesses are playing an important role in determining the future of transportation networks as a result of this cognitive shift. Businesses are not only adopting e-bikes for their operations but also incentivizing employees to use them for commuting. Additionally, some companies are partnering with local governments to establish e-bike-sharing programs, further promoting their use and accessibility. For instance, a French business called Fredo provides a bike-sharing transportation platform to French suburbs. The organization offers a variety of two-wheelers for selection in comparison with popular players.
Moreover, the company has simplified use by eliminating electrical connectors and stations. Instead, Fredo bikes are attached to permanent structures with linked padlocks that can be accessed via a mobile app. Administrators can take control of the fleet via the fleet management software.
Mobility as a Service Model
The growing popularity of bike-sharing programs and the rise of mobility platforms are driving the shift toward e-bikes as a service. These services allow users to hire e-bikes for short periods, making them more accessible to a broader range of individuals and encouraging the adoption of sustainable mobility solutions. Additionally, this model frequently includes amenities such as easy booking via mobile apps and convenient pick-up and drop-off sites, which improves the entire user experience. For instance, the ride-sharing service Ola Cabs relaunched its bike taxi services in Bengaluru in September 2023, using only its all-electric Ola Electric S1 scooters.
AI-driven Smart E-Bike
The integration of artificial intelligence (AI) into e-bikes opens up a realm of possibilities. As AI continues to advance, e-bikes equipped with intelligent systems can now analyze rider behavior and provide personalized recommendations for optimal performance. Additionally, AI-powered e-bikes can also contribute to a more sustainable future by optimizing energy usage and reducing carbon emissions. With ongoing advancements in AI technology, the future of smart e-bikes holds promise for safer and more efficient transportation options. For instance, at the IFA 2023 global trade fair in Berlin, Acer, a computer hardware manufacturing company, displayed its ground-breaking AI-powered ebii e-bike. The ebii has a revolutionary intelligent vehicle control box that integrates electronics and the battery flawlessly. The ebii uses artificial intelligence to eliminate manual gear changes, sense riding circumstances, and adapt power delivery for a pleasant riding experience. Sensors continuously monitor pedaling power, and the ebiiAssist function learns and adapts assistance based on personal preferences. Acer’s technological integration extends to the ebiiGo app, which gives riders control over services such as recommended routes, battery life, and auto-lock settings.
Thoughts to ride away
The e-bike market is evolving at an unprecedented pace, and 2024 promises to be a ground-breaking year. The sector has the potential for considerable innovation because of developments in battery technology and the rise of smart e-bikes.
The global e-bike market is expected to reach $62255.03 million by 2030, growing at a CAGR of 9.92% during the forecast period.
The global e-bike market is estimated to reach 77258 thousand units by 2030, with a CAGR of 9.84% over the forecast period.
The global electric bike market is segmented into type, drive mechanism, end-use, battery, and power.