Saudi Arabia E Bike Market
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Saudi Arabia E-Bike Market, By Propulsion Type (Pedal-assisted, Throttle-assisted); By Battery Type (Lithium-ion Battery, Lead-acid Battery); By Power Type (Less than and Equal to 250W, Above 250W); By Application (City/Urban, E-Mountain, Cargo), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: July 2024
- Report ID: BWC24534
- Available Format: PDF
- Page: 200
Report Overview
The government’s supportive initiatives and significant subsidies for promoting sustainable transportation to efficiently manage traffic congestions in expanding urban areas and growing environmental awareness are expected to drive Saudi Arabia E-Bike Market during the forecast period between 2024 and 2030.
Saudi Arabia E-Bike Market – Industry Trends & Forecast Report, 2030
Saudi Arabia E-Bike Market size by value was estimated at USD 9.7 billion in 2023. During the forecast period between 2024 and 2030, Saudi Arabia E-Bike Market size is projected to grow at a CAGR of 12.8% reaching a value of USD 22.5 billion by 2030. Prominent drivers of the market include the rising interest from fitness enthusiasts and sports athletes, along with increasing consumer awareness. The growing desire to address environmental issues and reduce carbon emissions is further fueling the demand for eco-friendly transportation. It has led to a surging preference for green mobility solutions, particularly e-bikes, as more individuals seek environmentally friendly transportation options.
By volume, Saudi Arabia E-Bike Market size was estimated at 7,38,454 units in 2023. During the forecast period between 2024 and 2030, Saudi Arabia E-Bike Market size is projected to grow at a CAGR of 13.9% reaching the volume of 18,25,158 units by 2030. The adoption of e-bikes in sectors like logistics and rental services is projected to drive the market. Also, the commercialization of lightweight e-bikes with longer battery life, coupled with manufacturers expanding their offerings to include a diverse range of models for urban commuting, is creating substantial revenue growth opportunities for the players in Saudi Arabia E-Bike Market.
E-Bike – Overview
An electric bicycle, commonly known as an e-bike, is a two-wheeled vehicle equipped with an electric motor to support the rider's pedaling. Designed to merge the benefits of motorized travel with the health and environmental advantages of traditional cycling, e-bikes come in various styles to suit different needs, including mountain bikes, urban commuters, and compact folding models. Powered by a rechargeable battery, the e-bike's motor provides adjustable levels of assistance, making it easier to tackle steep hills, cover long distances, or maintain a steady pace. Riders can choose from different power settings to customize their ride according to their preferences and conditions.
Saudi Arabia E-Bike Market
Growth Drivers
Government’s Initiatives and Subsidies for Sustainable Transportation
Saudi Arabia is actively advancing its transportation sector towards sustainability through strategic initiatives and subsidies aligned with Vision 2030. Its efforts emphasize economic diversification, technological innovation, and environmental stewardship. The Kingdom is investing in electric vehicle (EV) infrastructure, including charging stations, and offering incentives to promote EV adoption over traditional vehicles. Public transportation systems like the Riyadh Metro and Jeddah Public Transport Project are receiving significant funding to provide low-emission alternatives to private cars. Also, Saudi Arabia is promoting non-motorized transport through pedestrian-friendly zones and bike lanes to reduce urban congestion and promote healthier lifestyles. These initiatives are supported by regulatory frameworks, financial incentives, and public awareness campaigns, highlighting the Kingdom's commitment to a cleaner, sustainable transportation ecosystem. For instance, Tier Mobility's launch of e-scooter and e-bike services in cities like Jeddah and Riyadh exemplifies private sector collaboration in advancing sustainable transport options aligned with national goals.
Challenges
High Initial Purchase Costs and Maintenance Expenses
In Saudi Arabia, the growth of E-Bike Market could be hindered by high initial purchase costs and ongoing maintenance expenses. They may pose significant challenges to widespread adoption among consumers and businesses alike. Despite the environmental benefits and potential for reducing urban congestion, the current cost structures limit affordability and accessibility, thereby slowing market expansion. Addressing these financial challenges through subsidies or incentive programs could potentially spur greater adoption and accelerate the growth of Saudi Arabia E-Bike Market.
Impact of Escalating Geopolitical Tensions on Saudi Arabia E-Bike Market
Escalating geopolitical tensions among countries across regions could have a significant impact on the growth of Saudi Arabia E-Bike Market. Uncertainties and instability in geopolitical landscapes may disrupt supply chains, affecting import costs, fluctuations in oil prices, influencing overall economic conditions and consumer purchasing power. Also, heightened security concerns could affect consumer confidence and investment decisions in sustainable transport solutions. To mitigate these impacts, stakeholders may need to navigate regulatory changes and consider localized production strategies to enhance market resilience against geopolitical risks and ensure sustainable growth of Saudi Arabia E-Bike Market in the face of external uncertainties.
Saudi Arabia E-Bike Market
Segmental Coverage
Saudi Arabia E-Bike Market – By Propulsion Type
On the basis of propulsion type, Saudi Arabia E-Bike Market is bifurcated into Pedal-assisted and Throttle-assisted segments. The pedal-assisted segment holds a higher share in Saudi Arabia E-Bike Market by propulsion type. It is primarily due to their suitability for diverse terrains and climates. The pedal-assisted e-bikes combine pedal power with electric assistance, making them ideal for navigating hilly landscapes and arid conditions effortlessly. This technology supports urban mobility objectives and aligns with Vision 2030's goals by promoting sustainable transportation solutions. Cities across Saudi Arabia, including Medina, are integrating these bikes to enhance accessibility and reduce environmental impact. Equipped with innovative features such as smart charging stations, these e-bikes ensure continuous availability and convenience for users, thereby promoting a more active and sustainable urban lifestyle.
Saudi Arabia E-Bike Market – By Battery Type
Based on battery type, Saudi Arabia E-Bike Market is divided into Lithium-ion Battery, Lead-acid Battery, and other (including Nickel Metal Hydride) segments. During the forecast period, the lithium-ion battery segment is expected to hold the highest share in Saudi Arabia E-Bike Market by battery type. Lithium-ion batteries are optimized for weight and energy efficiency, offering superior range and durability compared to other types. Their ability to be customized into various shapes makes lithium-ion batteries ideal for applications requiring high capacity and low power consumption, facilitating convenient charging and extended battery life for consumers. Also, lithium-ion batteries have become the predominant choice in electric bikes. They are cost-effective and capable of handling higher discharge rates, making them attractive to manufacturers who seek to enhance consumer appeal by integrating these advanced battery technologies into their vehicles.
Saudi Arabia E-Bike Market – By Power Type
By power type, Saudi Arabia E-Bike Market is bifurcated into Less than & Equal to 250 Watts and Above 250 Watts segments.
Saudi Arabia E-Bike Market – By Application
Based on application, Saudi Arabia E-Bike Market is divided into City/Urban, E-Mountain, and Cargo segments. The cargo segment holds the highest share in Saudi Arabia E-Bike Market by application, signaling a transformative shift in logistics efficiency and sustainability. Electric cargo bikes are rapidly redefining last-mile delivery in urban centers like Riyadh and Dubai. Businesses in Saudi Arabia stand to gain significantly by embracing these eco-friendly vehicles, which streamline operations, reduce carbon footprints, and enhance overall cost-effectiveness. By adopting electric cargo bikes, companies not only meet the growing demand for sustainable transportation but also position themselves as leaders in innovative logistics solutions. The strategic move not only boosts operational agility in congested urban environments but also aligns with global trends towards eco-conscious practices.
Competitive Landscape
Major players operating in Saudi Arabia E-Bike Market include Trek Bicycle Corporation, Giant Manufacturing Co. Ltd, Accell Group, Specialized Bicycle Components, Inc, ONE Moto, Brompton Bicycle Ltd, Cube Bikes, Elesco, Eveons Mobility Systems LLC, and myStromer AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2030 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
By Value - USD Billion |
By Volume - Unit |
|
Market Coverage |
Saudi Arabia |
Product/ Service Segmentation |
Propulsion Type, Battery Type, Power type, Application |
Key Players |
Trek Bicycle Corporation, Giant Manufacturing Co. Ltd, Accell Group, Specialized Bicycle Components, Inc, ONE Moto, Brompton Bicycle Ltd, Cube Bikes, Elesco, Eveons Mobility Systems LLC, myStromer AG |
By Propulsion Type
-
Pedal-assisted
-
Throttle-assisted
By Battery Type
-
Lithium-ion Battery
-
Lead-acid Battery
-
Others (including Nickel Metal Hydride)
By Power Type
-
Less than and Equal to 250 W
-
Above 250 W
By Application
-
City/Urban
-
E-Mountain
-
Cargo
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Saudi Arabia E-Bike Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increasing urbanization and traffic congestion in major cities
- Initiatives and subsidies from the Saudi government to promote sustainable transportation solutions
- Growing awareness about environmental issues
- Restraints
- Limited infrastructure such as bike lanes and charging stations
- High initial purchase costs and maintenance expenses
- Opportunities
- Improvements in e-bike technology
- Integration of smart technologies, such as GPS tracking and mobile app connectivity, enhancing user experience.
- Challenges
- Ensuring sufficient battery life and range to meet varying commuter needs.
- Educating consumers about the benefits and usage of e-bikes
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Saudi Arabia E-Bike Market: Marketing Strategies
- Saudi Arabia E-Bike Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Billion)
- Market Share & Forecast
- By Propulsion Type
- Pedal-assisted
- Throttle-assisted
- By Battery Type
- Lithium-ion Battery
- Lead-acid Battery
- Others (including Nickel Metal Hydride)
- By Power Type
- Less than and Equal to 250W
- Above 250 W
- By Application
- City/Urban
- E-Mountain
- Cargo
- By Propulsion Type
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Products
- Saudi Arabia E-Bike Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- Impact of Geopolitical Tensions on Saudi Arabia E-Bike Market
- Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- Trek Bicycle Corporation
- Giant Manufacturing Co. Ltd
- Accell Group
- Specialized Bicycle Components, Inc
- ONE Moto
- Brompton Bicycle Ltd
- Cube Bikes
- Elesco
- Eveons Mobility Systems LLC
- myStromer AG
- Other prominent players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Saudi Arabia E-Bike Segmentation
Figure 2 Saudi Arabia E-Bike Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Saudi Arabia E-Bike Market Size, By Value (USD Billion), 2019–2030
Figure 5 Saudi Arabia E-Bike Market Share, By Propulsion Type, By Value (USD Billion), 2019–2030
Figure 6 Saudi Arabia E-Bike Market Share, By Battery Type, By Value (USD Billion), 2019–2030
Figure 7 Saudi Arabia E-Bike Market Share, By Power Type, By Value (USD Billion), 2019–2030
Figure 8 Saudi Arabia E-Bike Market Share, By Application, By Value (USD Billion), 2019–2030
List of Tables
Table 1 Saudi Arabia E-Bike Market Size, By Value (USD Billion), 2019–2030
Table 2 Saudi Arabia E-Bike Market Share, By Propulsion Type, By Value (USD Billion), 2019–2030
Table 3 Saudi Arabia E-Bike Market Share, By Battery Type, By Value (USD Billion), 2019–2030
Table 4 Saudi Arabia E-Bike Market Share, By Power Type, By Value (USD Billion), 2019–2030
Table 5 Saudi Arabia E-Bike Market Share, By Application, By Value (USD Billion), 2019–2030
Table 6 Trek Bicycle Corporation\ Company Overview
Table 7 Trek Bicycle Corporation\ Financial Overview
Table 8 Giant Manufacturing Co. Ltd Company Overview
Table 9 Giant Manufacturing Co. Ltd Financial Overview
Table 10 Accell Group Company Overview
Table 11 Accell Group Financial Overview
Table 12 Specialized Bicycle Components, Inc Company Overview
Table 13 Specialized Bicycle Components, Inc Financial Overview
Table 14 ONE Moto Company Overview
Table 15 ONE Moto Financial Overview
Table 16 Brompton Bicycle Ltd Company Overview
Table 17 Brompton Bicycle Ltd Financial Overview
Table 18 Cube Bikes Company Overview
Table 19 Cube Bikes Financial Overview
Table 20 Elesco Company Overview
Table 21 Elesco Financial Overview
Table 22 Eveons Mobility Systems LLC Company Overview
Table 23 Eveons Mobility Systems LLC Financial Overview
Table 24 myStromer AG Company Overview
Table 25 myStromer AG Financial Overview
Market Segmentation
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