E-Bike Market Overview
The e-bike market is expected to be valued USD 72.73 billion by 2027, growing at a 7.89% CAGR. During the projected period, the market for electric bikes is anticipated to expand significantly due to swiftly charging batteries, less expensive transportation alternatives, and emerging technological breakthroughs.
An electric bike is a bicycle with an integrated electric motor drive mechanism and a battery that produces electricity for driving or helping propulsion. Electric bikes range in power from those with a little motor to assist the rider's pedalling to more potent models that may be operated entirely with a throttle.
Electric bikes are regarded as a versatile and environmentally beneficial means of transportation. They are a great alternative to scooters, smart cars, and public transportation since they reduce traffic congestion and allow for quick acceleration to high speeds. They also help riders maintain a healthy lifestyle by encouraging more exercise. These elements support the expansion of the world market.
Since all kinds of public transit were shut down to stop the Covid virus's transmission, the outbreak had a favourable effect on the market. During the early phases of the epidemic, a sizable percentage of the populace started using electric bikes as their main form of mobility, which considerably aided market expansion. Prior to the pandemic, the e-bike market was growing steadily; but, as the pandemic spread, the increase accelerated.
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E-Bike Market Segment
● By Type
Throttle on demand is anticipated to be the most profitable form. With the throttle system, you can simply and quickly pull out of traffic at junctions and traffic lights and feel much safer, making it the best option for faster riding on country roads with switchbacks or managing busy traffic.
● By Battery
Lithium-ion battery-powered e-bikes account for the majority of the worldwide e-bike market. They endure longer, produce less pollution, and use energy more effectively. Additionally, they can move heavier riders farther in a shorter amount of time.
● By Frame Material
The market is segmented by frame material as follows: carbon fibre, carbon steel, aluminium, aluminium alloy, and others.
● By Consumer Group
The market is segmented by Consumer Group into: Men, women, and children.
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E-Bike Market Regional Analysis
Due to expanding electric bike infrastructure in developing nations like China and Japan as well as rising traffic and public transportation congestion, the Asia Pacific region will account for the lion's share of the global market for electric bikes throughout the projected period. The market will continue to expand as a result of the tightening emission rules for gas-powered engines.
A large portion of the global e-bike market will be contributed by Europe because of the region's growing e-bike manufacturing industry.
Due to the increasing deployment of e-bikes, North America will account for a sizable portion of the industry.
E-Bike Market Key Players:
· Accell Group N.V.
· Pon Bike
· Merida Industry Co. Ltd
· Giant Manufacturing Co. Ltd
· Yamaha Motor Corporation
E-Bike Industry News
Pedego announced the establishment of a new factory in Bethesda in July 2021. A large variety of bike sales, rentals, services, and accessories will be available at this location.
David's World Cycle was purchased by Trek Bicycle Corporation in April 2022. In order to expand its dealer network and support its expansion strategy, Trek Bicycle Corporation bought 21 retail chains.
AIMA Technology Group Co Ltd and Juiced Bikes engaged into a strategic cooperation relationship in January 2022. AIMA Technology Group Co Ltd would supply Juiced Bikes in the US with top-notch products and technical guidance as part of the cooperation.
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