Li-Ion battery for E-bike market is expected to grow significantly in the coming years due to increase in demand for electric vehicles. Lithium-ion batteries are the commonly used rechargeable batteries in consumer electronics, military, automobiles, aerospace applications, and others. In automobile industry, e-bikes employ mini-electric motors that are installed with rechargeable Li-ion batteries.
Rise in use of Li-ion batteries in e-bikes is a major driving factor of the market. Other driving factors of Li-Ion battery for E-bike market include increasing urbanization, rise in population density level, changing lifestyle preferences and increasing traffic congestion. E-bikes are light in weight that are economical as compared to fuel cars and do not require license to drive. These factors are attracting the consumers which ultimately boosts the market growth.
Shrinking prices of Li-ion battery is a boon for manufacturers. Moreover, growing emphasis of manufacturers for introducing pedelec (pedal for the electric bike with electric motor) for e-bike is a major trend in the market.
Li-Ion battery for E-bike market is categorized on the basis of component, end use industries, and geography. On the basis of component, market is divided into lithium nickel manganese cobalt (LI-NMC), lithium titanate oxide (LTO), lithium manganese oxide (LMO), lithium iron phosphate (LFP), lithium cobalt oxide (LCO), and lithium nickel cobalt aluminium oxide (NCA).
Lithium nickel manganese cobalt (LI-NMC) segment is anticipated to lead the market growth due to increased applications in medical equipment, electrical & electronics, power tools, e-bikes, etc. In terms of end use, market is divided into automotive, electrical and electronics, medical, textile, military, and others. Automotive segment is expected to hold significant share of the market due to growing applications in light-duty vehicles, e-bikes, and others.
Geographically, market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to dominate the market due to increased use in the manufacturing of hybrid and electric automobiles. Europe is also expected to contribute significantly due to increase in demand from automotive industry.
The key players in Li-Ion battery for E-bike market include JOOLEE, Chicago Electric Bicycles, Johnson Matthey, LG Chem, Shenzhen Mottcell, EVPST, Tongyu Technology, LICO Technology, BMZ, CNEBIKES, and Kayo Battery.