Electric bicycle is composed of body, electric drive device (motor), rechargeable battery, charger and control system. The motor is the part that converts electric energy into mechanical energy and drives the wheel of electric bicycle to rotate.
In 2018, the global output of electric bicycle driving devices was 30.56 million units, an increase of 4.88% over 29.14 million units in 2017. The market size is expected to grow from 13.389 billion yuan in 2018 to 19.872 billion yuan between 2018 and 2025, with an average annual growth rate of 5.8%.
In 2018, China was the largest producer of e-bike driving devices: 27.49 million units, accounting for 89.96% of the global market. China is also the largest market for e-bike drivers, with 27.41 million units, accounting for 89.68% of the global market.
The global market for e-bike drivers is very fragmented, with only 70% of the output of the 13 largest companies and 64% of the market in the first year of 2018. The top five players in the electric bicycle drive market are Bosch, wuxi star, annerda, new ocean and saiying electric. Bosch is firmly at the top of the list, accounting for 22% of the market in 2018.