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In this article we will take a look at the top 10 electric bike companies in the world. You can skip our detailed analysis of the e-bike industry’s outlook for 2021 and some of the major growth catalysts for bike companies, and go directly to the Top 5 Electric Bike Companies in the World.
The electric bike market is thriving amid the growth of the broader EV market in the world. According to statistics based on research, the electric bike market in 2019 was valued at 40,312 million dollars and estimated to reach 118,657 million dollars by 2030.
Electric bikes are significantly contributing towards the booming GDP of European countries and globally as well. Data shows that over 3 million electric bikes were sold in 2019 as compared to the previous year, a 23% increase. This trend is increasing since 2019 and is projected to cross 6.5 million e-bikes sales in 2025. Amid the ongoing pandemic, New York Times claimed that there was an 85% increase in the sale of electric bikes by the year 2020.
The electric vehicle market is divided into two basic segments: propulsion type (pedal-assisted e-bikes) dominating the global market, and application type which is the urban market-dominating segment. Moreover, the e-bike market is segmented into drive mechanism (mid-drive, hub motor, etc.), battery type (Li-ion, lead-acid, etc.), product type (scooter, motorcycle, throttle on demand and others), and region (LAMEA, Europe, North America, and Asia-Pacific).
A study reported that countries like Europe, Spain, France, Germany, Italy, China, India, and the Netherlands have a high demand for e-bikes. The booming demand for e-bikes and their application is very good for the major players like Harley-Davidson Inc (NYSE: HOG), Ford Motor Company (NYSE: F), Giant Bicycles (TPE: 9921), BMW (ETR: BMW), Merida (TPE: 9914), Bosch (NSE: BOSCHLTD), and Yamaha (TYO: 7272).
Major companies like Bosch are attracting buyers with their new connected e-bikes providing advanced navigation systems, anti-theft systems, automatic emergency calls, remote diagnostics, social media connection, lock-premium function, and smart system for calculating cyclist energy.
The e-bike market is not just revolutionizing the mode of transportation with beautiful designs and improved technology but also playing a great part in eliminating global warming. They are zero-emission vehicles, preventing air pollution by eliminating carbon footprints, putting the least burden on power grids due to off-peak charging, sustainable energy, and providing long-lasting batteries. Hence, the global e-bike market is booming, growing, and prospering at a growth rate of 6.21% annually between 2020-2025 as per Research and Markets.
Following is the list of the top 10 electric bike companies in the world. We took into account innovation, technology, popularity and customer reviews while choosing companies for this list.
With this context and industry outlook in mind, let's now start our list of the top 10 electric bike companies in the world.
10. Damon Motors Inc.
Damon motorcycle company was founded in 2017 in Canada and this company made a place in the industry by bringing innovation in safety technology which is the concern associated with e-bikes. A co-pilot safety system is used in their bikes along with sensors, cameras, radars, Al for monitoring the speed and direction of the bike. Damon's AI systems warn in advance in case it senses an object or vehicle on a collision course with your bike.
9. Merida Industry Co. Ltd. (TPE: 9914)
Merida Industry is an e-bike manufacturing company founded in 1972 in Taiwan and also has factories in China, Germany. The models and designs manufactured by the company are in high competition with the European models. It is globally exporting to more than 77 countries almost 2 million e-bikes per year.
8. Bosch Limited (NSE: BOSCHLTD)
Bosch is a German company headquartered in Gerlingen and was founded in 1886. The company makes motors, batteries, screens and other technology and systems for electric bikes. The company's systems are now used in over 50 top-ranked and leading e-bikes brands across Europe.
The trend for outdoor activities like solo biking is helping companies like Harley-Davidson Inc (NYSE: HOG), Ford Motor Company (NYSE: F), Giant Bicycles (TPE: 9921), BMW (ETR: BMW), Merida (TPE: 9914), Bosch (NSE: BOSCHLTD), and Yamaha (TYO: 7272).
7. Yamaha Motor Company (TYO: 7272)
Yamaha ranks 7th in our list of top 10 electric bike companies in the world. In 1993, the company released their first e-bike that was a massive hit and since then, they are making everything from e-bikes to Jet Skis. A study revealed that Yamaha is manufacturing 300,000 e-bikes annually and 2.7 million bikes are running with their system globally.
6. Giant Bicycles (TPE: 9921)
Giant bicycle company is an e-bike manufacturing company in Taiwan considered as the world’s largest manufacturer. Giant is making affordable and high-performance gravel, road, mountain, cyclocross, urban, and e-bikes. Most of the electric bikes made by the company go to Europe, the US and Japan. By 2017, the company had reached sales of a whopping 6.6 million bicycles with revenue of US$1.9 billion.
The coronavirus crisis caused a spike in demand for Giant bikes all over the world. The trend for outdoor activities like solo biking is helping companies like Harley-Davidson Inc (NYSE: HOG), Ford Motor Company (NYSE: F), Giant Bicycles (TPE: 9921), BMW (ETR: BMW), Merida (TPE: 9914), Bosch (NSE: BOSCHLTD), and Yamaha (TYO: 7272). Click to continue reading and see the Top 5 Electric Bike Companies in the World. Suggested articles:
Disclosure: None. Top 10 Electric Bike Companies in the World is originally published on Insider Monkey.