Investment Rating - The report indicates a positive outlook for the electric two-wheeler mid-mounted motor industry, with a projected compound annual growth rate (CAGR) of 29.77% from 2020 to 2024 and 26.52% from 2025 to 2029, suggesting strong growth potential in the sector [31]. Core Insights - The electric two-wheeler mid-mounted motor industry is characterized by high technical, customer, and brand barriers, making it a challenging market for new entrants [7][8][10]. - The growth of the electric two-wheeler market is driven by factors such as China's population dividend, urbanization, and government policies promoting the replacement of old electric bicycles [31][33]. - The logistics and delivery industry is rapidly developing, creating new demand for electric two-wheelers, particularly in the context of e-commerce and food delivery services [34][35]. Industry Definition - Electric two-wheelers encompass electric bicycles, electric motorcycles, electric scooters, and electric-assisted bicycles as defined by Chinese standards [2]. Industry Classification - The mid-mounted motors for electric two-wheelers can be classified into coaxial and parallel shaft types based on their structure and shape [4]. Industry Characteristics - The industry features high technical barriers due to its interdisciplinary nature, involving mechanical, electrical, control, and signal processing technologies [8]. - Customer barriers are significant as manufacturers often collaborate closely with suppliers to design specific drive systems, making supplier changes costly and risky [9]. - Brand barriers are also high, as the quality and performance of the drive systems directly impact user experience and brand loyalty [10]. Development History - The mid-mounted motor technology has evolved significantly since its inception in the late 19th century, with notable advancements in the 21st century leading to the establishment of several key players in the market [11][14]. Industry Chain Analysis - The industry chain consists of upstream raw materials (magnetic steel, stators, end caps, etc.), midstream manufacturing of mid-mounted motors, and downstream application in electric two-wheeler production [16][17]. Market Size - The market size for the electric two-wheeler mid-mounted motor industry is expected to grow from 1.71 billion RMB in 2020 to 4.86 billion RMB in 2024, with a CAGR of 29.77% [31]. Competitive Landscape - The market is dominated by international players such as Bosch, Shimano, and Yamaha, while domestic companies like Anada and Bafang are gradually increasing their market share in the mid to low-end segments [40][42].

Investment Rating - The report does not explicitly provide an investment rating for the electric two-wheeler mid-motor industry Core Insights - The electric two-wheeler mid-motor industry is characterized by high technical, customer, and brand barriers, with significant growth driven by China's population dividend, urbanization, and national policies promoting electric bicycle replacements [1][7][10] - The market for electric two-wheeler mid-motors is expected to grow from 1.71 billion RMB in 2020 to 4.86 billion RMB by 2024, with a compound annual growth rate (CAGR) of 29.77% [31] - The logistics and delivery industry is rapidly developing, creating new demand for electric two-wheelers and mid-motors [34] Industry Definition - Electric two-wheelers include electric bicycles, electric motorcycles, electric scooters, and electric assist bicycles as defined by Chinese standards [2] Industry Classification - Electric two-wheeler mid-motors can be classified into coaxial mid-motors and parallel shaft mid-motors based on their structure and shape [4][5][6] Industry Characteristics - The industry features high technical barriers due to its interdisciplinary nature, high customer barriers due to the close collaboration between brand manufacturers and suppliers, and high brand barriers due to the critical role of the drive system in user experience [7][8][9][10] Development History - The industry has evolved from the late 19th century with significant milestones in the 1990s and 21st century, leading to the establishment of several key players in the market [11][12][13][14] Industry Chain Analysis - The upstream of the mid-motor industry includes raw materials such as magnetic steel and stators, while the midstream involves manufacturing, and the downstream consists of electric two-wheeler production [16][21][22][25] Market Size and Growth - The market size is projected to grow significantly, with a forecast of reaching 16.42 billion RMB by 2029, driven by factors such as population growth, urbanization, and government policies [31][32][33] Competitive Landscape - The competitive landscape is dominated by international players like Bosch, Shimano, and Yamaha in the high-end market, while domestic companies like Anada and Bafang are gaining market share in the mid to low-end segments [40][41][42][44] Future Opportunities - The increasing demand for electric assist bicycles and the expansion of logistics services present significant growth opportunities for the mid-motor industry [35][45]