The e-bikes market segmentation, based on battery, includes lithium-ion, sealed lead acid and others. As per the market forecast, the sealed lead acid segment dominated the market in 2021 and lithium-ion battery is projected to be the faster-growing segment during 2024-2030. The segment’s expansion can be ascribed to the many advantages that lead-acid batteries provide, including their affordability and durability. However, because these batteries are heavy and discharge quickly, it is anticipated that their use will decrease over the upcoming years.

However, a report issued by the European Commission predicts that by 2030, the cost of lithium-ion batteries will have decreased by over 70%. Benefits including high performance, low weight, high charging-discharging efficiency, and high charge density are projected to encourage the adoption of these batteries and boost the segment’s growth.