E-Bike Charging Station Market size was over USD 3.1 Billion in 2023 and is likely to reach USD 20.35 Billion by the end of 2036, growing at around 16.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of e-bike charging station is assessed at USD 3.57 Billion. The growth of the market can primarily be ascribed to the rising use of electric vehicles (EVs) across the world. Multiple companies are now marching toward the manufacturing of electric vehicles (EVs) mainly owing to reduce the higher utilization of fossil fuels and the emission of harmful vehicles from vehicles. As of 2021, it was estimated that approximately 650,000 electric cars were sold out solely in the USA and that number was projected to rise exponentially over the forecast period.
Global e-bike charging station market trends such as, increasing government initiatives and funding to manufacture charging station is expected to influence the market growth positively during the forecast period. These elements are anticipated to cause the global market for electric bike charging stations to expand. For instance, in the United States, The Bipartisan Infrastructure Act is going to allocate USD 7.5 billion to the construction of a nationwide network of 500,000 EV chargers, ensuring that charging EVs is predictable, dependable, and accessible. Moreover, electric bike come in a variety of sizes and power levels around the world, from those with modest motors that help the rider's pedaling to more potent models that can generate power to drive the bike using the throttle. They are a chic, functional, flexible, and eco-friendly form of transportation. These bikes are more compact, can travel at higher speeds with less effort, and contribute to reducing traffic congestion.
Growth Drivers
Growing Support from Governments of Multiple Nations - According to the document, relevant authorities will exempt NEVs from vehicle purchase tax until the end of 2022.
Growing Awareness of Carbon Footprint Globally - It has been estimated that EVs in Europe emit less than three times CO2 than petrol cars of the same class.
Rising Sales Volume of Electric Vehicles EVs - The global sales of EVs are projected to cross over 10 million in 2022, an increment of over 50% from 2021. By the end of 2022, over 26 million EVs are expected to be in use, including light vehicles.
E-Bikes Becoming a Cost-Effective Option - In the U.S. the average yearly cost of owning a car, including fuel, parking, maintenance and insurance amounts to about 4000 USD. The cost of owning an e-bike, whereas is a meagre 300 USD on an average.
Increased Mobility and More Time-Saving - As per statistics, traffic jams cost Americans over USD 85 billion in 2018, with over 95 hours of lost time annually. The mobility of an e-bike can help people, especially in metropolitan cities, save a huge amount of time.
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
20% |
|
Base Year Market Size (2023) |
USD 3.1 Billion |
|
Forecast Year Market Size (2033) |
USD 20.35 Billion |
|
Regional Scope |
|
Charger Type (Level-1, Level-2, DC Fast Chargers)
The global e-bike charging station market is segmented and analyzed for demand and supply by charger type into level-1, level-2, and DC fast chargers, out of which, the level-2 segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the fact that they are more efficient and convenient than level 1. Moreover, level-2 chargers consume less energy which results into less expensive electricity bills. For instance, in the U.S., level 2 clearly outpaces the other two charging methods, with over about 4 times as many ports and 6 times as many locations than DC fast chargers. Furthermore, by 2030, level-2 chargers are projected to dominate charging technology by consuming nearly 60% of the energy.
Battery Type (Lead Acid, Lithium-Ion)
Additionally, the global e-bike charging station market is segmented and analyzed for demand and supply by battery type into lead acid, lithium-ion, others, out of which, the lithium-ion segment is projected to witness noteworthy growth over the forecast period. Lithium-ion batteries are highly used in the e-bikes and charging stations, since they provide excellent power to weight ratio along with enhanced performance at a low self-rate and high temperature. Hence, this type of battery is high in demand in electric vehicles and charging stations. For instance, the demand for lithium batteries to be used in the electric vehicles was anticipated to be around 18 kt in 2019 across the globe. Furthermore, lithium-ion is observed to constitute approximately 95% of the batteries.
Our in-depth analysis of the global market includes the following segments:
|
By Type |
|
|
By Charger Type |
|
|
By Battery Type |
|
APAC Market Statistics
The Asia Pacific e-bike charging station market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be ascribed to the higher manufacturing and sales volume of electric vehicles for both private and public transportation, that is expected to expand the global e-bike charging station market size during the forecast period. For instance, currently in China, more than 290 million e-bikes are present on the road and the number is forecasted to rise exponentially. Additionally, Asia Pacific accounted for the significant share of electric vehicle supply equipment (EVSE) bases based on the installation. In 2020, in the Asia-Pacific region, the total share of alternating current (AC) charge point was estimated to around 60% while the share of direct current (DC) high power charge points was anticipated to be approximately 22%. Additionally, in 2023, the Indian government is planning to add more than 1000 electric vehicle charging stations which is a part of Phase 2 of the FAME scheme. Moreover, Asian countries are known to adopt electric vehicle earlier than other countries, which is estimated to be one of the major growth factors of the that is expected to boost the growth of the market in the region. Furthermore, the availability of cost-effective e-bike charging infrastructure component and the less expensive manufacturing of the batteries is further predicted to surge the market’s growth in the region. For instance, China’s electronics manufacturing enterprises exhibited a total profit nearly 40% higher in 2021 than the previous year summing up to approximately USD 1000 million.
Tritium group to announce that the company will provide fast chargers for a new EV highway that will span more than 7,000 kilometers (4,350 miles) across the state of Western Australia. It also obtained a notable amount of sum from Western Australian government. The company is a well-known name in the field of fast charging technology for electric vehicles.
EV Charging Solutions, Inc. announced that beginning in October 2021, EV owners will be able to take advantage of free charging at West Coast Electric Highway (WCEH) charging points in Oregon and Washington until network upgrades are completed in late 2021/early 2022.
Author Credits: Abhishek Verma
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?