E-bike Charging Station Market Size, Share & COVID-19 Impact Analysis, By Type (Residential, Commercial), By Charger Type (Level 1 and Level 2), By Infrastructure (Dock and Dockless), By Battery Type (Lithium-ion, Lead Acid, Others), and Regional Forecast, 2021-2028

The global e-bike charging station market size was USD 2646.21 million in 2020. The global impact of COVID-19 has been unprecedented and staggering, with e-bike charging stations witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 0.47% in 2020 compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 2715.23 million in 2021 to USD 3498.13 million in 2028 at a CAGR of 3.7% in the 2021-2028 period. The rise in CAGR is attributable to this market's demand and growth, returning to pre-pandemic levels once the pandemic is over.

An electric bike is an integrated motor-driven mechanism and battery, generating energy to cause propulsion. All kinds of electric bikes worldwide, from those with small electric motors, assist the rider's pedal-power to more powerful bikes that can generate energy to drive the bike using the throttle. They are a trendy, versatile, flexible, and environmentally friendly means of transportation. Consumers consider them an ideal substitute for cars, scooters, and public transportation. These bikes assist in solving traffic congestion problems as they are smaller in size, achieve higher speeds with less effort, and help attain health benefits through cycling. Thus, these factors would consequently boost the electric bike charging station market growth across the world.

The electric bike industry is rapidly developing globally, especially in China and the United States. This industry is a dynamic industry with a wide range of applications. Governments of various countries play a vital role in the development of charging stations. For instance, the Chinese government has permitted the development of an electric bike charging station following the national policies. Similarly, in the United States, the government has played a significant role by imposing mandatory standards and funding to develop charging stations. Moreover, it is expected that the advances in communication technologies, such as real-time information on all-electric vehicles charging stations for smart connection will bring higher reliability and stability to them.

The Market Experienced Slow Growth amid COVID-19 Backed by Stringent Lockdowns

With the outbreak of the COVID-19 pandemic, lockdowns, and the imposed restrictions, the production of e-bikes witnessed a decline. However, now that the lockdown has been lifted in most countries, this market is again gathering pace owing to the growing demand as more people are exploring options of travel over public transport. According to industry experts and manufacturers, such as Lectric e-bike, VanMoof, and Rad Power Bike, e-bikes are increasingly considered to be a perfect transportation mode as cities are emerging from the quarantine approaches across the world.

For example, according to the "New York Times" report of March 2020, sales of e-bikes in the United States have increased by 85%. Therefore, the electric bike industry is one of the industries expected to achieve healthier growth after the COVID-19 pandemic. Consequently, the e-bike charging station has also experienced slow growth during the pandemic but is likely to surge in 2021 faster.

LATEST TRENDS

Technological Development and Electrification of Bikes to Set A Positive Trend in the Market

With the increasing popularity of e-bikes, there are technological advances in the field of electric bikes. Connected electric bikes are such an advancement, where the SIM module allows them to receive and send information to and from the cloud without a connected smartphone. Some of the essential features provided by the connected electric bike include integrated navigation, automatic emergency calls, anti-theft systems, social media connections, and remote diagnosis. Also, the electrification of bikes is streamlining the future of mobility through the transition from authorized to electric mobility. Numerous e-bike manufacturers and major companies are currently developing powerful e-bike charging stations. These are some of the key market trends and are estimated to play a key role in expanding the charging infrastructure industry.

DRIVING FACTORS

Subsidies by Government for Charging Infrastructure to Drive the Market Growth

Governments of various economies are offering several subsidies up to 80% of the total cost of the charging infrastructure installation. Moreover, the role of the government in planning and developing charging infrastructure through cooperation with the oil and gas industry has boosted the development of this market. Also, cost-cutting measures, such as supplying power to a commercial e-bike charging station at lower prices play a vital role in fueling the market growth. The government has further formulated a strategy of installing a charging station every 100 kilometers on the national highway, which may expand the market size in the upcoming years.

Rising Demand for Environment-friendly Transportation to Propel the Market Growth

Mobility plays a major role in our current society. With the rising concern of conserving and sustaining resources for future generations, mostly due to the increasing scarcity of natural resources and environmental problems, the protection of the environment poses a great challenge to both governments and society across the world. As a result, the rising demand for e-bikes proves to be an ideal solution to the challenge. Also, with the increasing emission levels, international organizations and governments are implementing stringent emission norms to reduce the carbon footprints with the growing health concerns. Therefore, these factors prove that the electric bike is an ideal solution to face this environmental challenge.

RESTRAINING FACTORS

Slow Mode of Charging by Electric Bike Charging Stations May Restrain the Market Growth

It generally takes more time to charge the electric bike at the charging station fully. The charging speed of these stations should be improved considering the growing number of electric bicycles on the road. If the charging speed is increased, consumers may raise their interest in buying electric bikes. However, the major barrier to purchasing these bikes is their limited range and the extended charging cycle time taken by the bike. If both these parameters are enhanced, then there will be an increase in the number of battery-charged bikes and it would ultimately boost the e-bike charging station market growth.

SEGMENTATION 

By Type Analysis

 Residential Segment is Expected to Dominate the Market

Based on the type, the market is segmented into residential and commercial. The residential segment is expected to dominate the market over the forecast period. The increasing sale of e-bikes and the ease of charging the vehicle is one of the significant reasons behind the dominance of this segment over the forecast period. Key OEMs are providing users with a wide range of extender batteries. Compared to the conventional bike, the compact size of the e-bike makes it easy to park in any parking lot. Hence, the residential segment is expected to dominate the market over the forecast period.

The commercial segment is expected to show good growth in the market. The rising demand for bike-sharing services is fueling the need for the commercial vehicle segment. In addition, some public transportation agencies are working with bike manufacturers to install charging stations for e-bikes.

By Charger Type Analysis

Level 1 Segment is Expected to Hold the Largest Market Share

Based on the charger type, the market is segmented into level 1 and level 2. It is expected that level 1 charging stations will occupy a major share in terms of the use of e-bike charging stations. This may be because governments worldwide are paying more and more attention to overnight charging at public and semi-public charging stations, and with the growth of level 1 charging, it may gradually shift to the situation where people would use level 2 chargers as private charging stations at home. The level 2 charging station segment is expected to show good growth owing to the rising adoption of fast charging. The high installation cost of level 2 chargers is expected to slow down the market growth.

By Infrastructure Type Analysis

Various Benefits Offered by Dockless Charging Stations to Boost the Segmental Market Share

Based on the infrastructure type, the market is segmented into dock and dockless. With the increasing demand for electric bicycle rental services in Europe, North America, and China, electric bicycle rental companies have expanded their services from dock electric bicycle stations to dockless electric bicycle facilities. Users do not need to return to electric bicycles rented at specific destinations or pick-up locations. These bikes can be returned to any e-bike site near their destination.

The growing demand for the deployment of charging infrastructure by rental electric bicycle companies is also increasing owing to the rising adoption of these charging stations. In order to meet this potential demand, charging infrastructure providers have begun to establish partnerships with various parking service companies and private garages and plan to deploy charging facilities for these dockless electric bicycle rentals. For example, GetCharged Inc., a micro-mobile company dedicated to building the largest charging network, storage, and service stations for electric scooters, announced its plan to deploy dockless electric cars and vehicle charging parking lots in North America.

By Battery Type Analysis

Lithium-ion Segment to Dominate Stoked by Ability to Provide High Power Ratio

Based on the battery type, the market is segmented into lead acid, lithium-ion, and others. The lithium-ion segment is expected to dominate the market over the forecast period. These batteries have several advantages over other batteries, such as long bike battery life, environment friendly, and more power ratio. E-bike manufacturers’ efforts to produce light-duty electric bikes have also led to more adoption of lithium-ion batteries. Because of stringent government regulations announced in April 2019, the Chinese market has switched to lithium-ion batteries, thereby leading to a surge in the demand for these batteries in the Asia-Pacific region since 2019.

The lead acid battery segment is expected to decline over the forecast period owing to its low power capacity and high maintenance. The Other battery type such as nickel-metal hydride batteries is expected to show slow to moderate growth in the market during the forecast period. The high cost of these batteries is the prime reason for its slow momentum in the e-bike charging infrastructure market.

REGIONAL INSIGHTS

Asia Pacific is Expected to Hold the Largest E-bike Charging Station Market Share amid Presence of Major Players

Asia Pacific is anticipated to dominate the global market owing to the early adoption of advanced technologies in this region. The presence of major players in this region has led to the development of low-cost batteries and cost-effective components required for e-bike charging infrastructure. China being the largest manufacturer of electronic components is set to lead to the dominance of the market over the forecast period.

Europe is expected to show exponential growth in the market. Key players in this region are focusing on developing a dockless charging infrastructure for an e-bike. Some of the main factors driving the market are product innovation, fully integrated battery, eye-catching design, and the use of high-quality materials. Companies such as Bosch are collaborating with local governments to develop charging stations, especially for mountaineers to charge their e-bikes, as there are no charging stations available outside city limits. North America is anticipated to show considerable growth in the market. Rising government initiatives and the growing inclination of consumers towards emission-free vehicles would boost the market in this region.

The Rest of the World market is gaining high momentum as the local startups are eyeing on opportunities offered by the e-mobility revolution. For instance, Zembo, a Kampala, Uganda-based startup is offering pay-as-you-go and lease-to-own models in the city to promote the adoption of electric bikes & vehicles.

KEY INDUSTRY PLAYERS

GetCharge AG is a Key Player in the Market

GetCharge AG’s business is mainly concentrated in Europe, while Asia and North America are other important markets. The company has diversified its product portfolios through innovation and new product launches and hopes to maintain its position as the market leader. Rising partnership with key players worldwide is set to strengthen its role in the market. Advancing innovation in the development of fast-charging stations is helping to maintain its dominance in the market.

The companies operating in this market are eyeing on growing opportunities in the western regions including North America and Europe, as these regions are among the top adopters of electric type of bikes. Key business strategies in this market include forward/backward integration, mergers, partnership, and acquiring government/private tenders.

LIST OF KEY COMPANIES PROFILED:

• GetCharge Inc., (‎New York City, United States)


• LG Chem (Seoul, South Korea)


• Samsung SDI (Yogin, Korea)


• Swiftmile (Aachen, Germany)


• EVBox (Amsterdam, Netherlands)


• Circontrol (Barcelona, Spain.)


• SemaConnect (Maryland, United States)


• Rolec Service (Boston, United States)


• FreeWire Technologies (California, United States)

KEY INDUSTRY DEVELOPMENTS:

• October 2020  Swiftmile introduced its solar powered e-bike charging station. The company plans to equip charging stations in various developing cities in the U.S. and Europe. The plan was launched to provide an eco-friendly and socially distant option for short trips around the base, thereby reducing traffic in the area.


• August 2020  Bosch expanded its e-bike charging stations in Europe. The company made its investment in the Swabian Alps. This has strengthened its position in the market. It is expected to be useful to the e-mountain and e-trekking bike riders.

REPORT COVERAGE

The e-bike charging station market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation