E-Bike Market Outlook:
Market Research Future (MRFR) study on the global e-bike market is a detailed assessment that provides aholistic overview of the industry. The study discusses the COVID-19 overview ofthe globale-bike market and offers a concise summary of key markets, currenttrends, growth forecasts, and market challenges from 2017 to 2022 (forecastperiod) to identify investment opportunities.
Electric bikes, also known as e-bikes, are equipped with an electricmotor used to gain momentum. They use chargeable batteries, which have variouscapacities depending on their size. Electric bikes are categorized on the basisof the power of the electric motor on which they operate. Peddle assist,throttle on demand, speed pedelec, and electric moped or motorcycle are alltypes of electric bikes.
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Market Dynamics
The global market for electric bikes continues to be influenced by a mixof different macro-economic and micro-economic factors. Consistent advances intechnology have all006Fwed the development of comfortable,environmentally-friendly electric bikes. Demand for electric bikes is alsogreatly affected by rising customer perception of the need to reduce theircarbon footprint.
Extended government funding and implementation of strict rules indifferent geographies have driven the sale of electric bikes. In metro cities,particularly in North America and European countries, the concepts of publiccharging infrastructure and e-bike rental services are on the rise. Increasedinvestment in research and development by a range of industry players, thegrowth of new high-efficiency batteries, and the production of high-performancevehicles have played a pivotal role in accelerating the adoption of electricbikes.
Nevertheless, some factors pose challenges to the development of theglobal market for electric bikes. Electric bikes are very expensive and cannotbe purchased by all. As these bikes run on batteries, they need regularcharging – which remains a challenge due to the limited charging stations.Maintenance of the product is also of the utmost importance, and also requiresa proper charging system. High maintenance costs are another primary factorthat dissuades customers from purchasing electric bikes.
Market Segmentation
The global e-bike market has been segmented into type and battery.
Based on type, the global e-bike market has been classified intothrottle on demand, pedelecs, scooter & motorcycle
Based on battery type, the global e-bike market has been segmented intonickel-metal hydride (NiMH), lead acid, lithium ion, and others
Regional Analysis
Region-wise, the global e-bike market has been segmented into NorthAmerica, Asia Pacific, Europe, and the Rest of the World.
The Asia Pacific region is anticipated to accelerate the global marketfor electric bikes. The APAC region is expected to remain attractive forelectric bikes and is expected to lead the global demand for electric bikes.Countries like India and China have made a significant contribution to thegrowth of the APAC region. China has seen a higher use of electric bikes, whichhas increased sales figures and has also had an impact on the development ofthe global market. In India, the government has promoted the use of electricbikes and is looking forward to transforming every "fuel-drivenvehicle" into electric vehicles by the end of 2035.
Some main markets for electric bikes are Europe and North America.Several electric bike manufacturers are based in these two areas. Europe andNorth America remained at the forefront of developments in electric biketechnology. The market for an electric bike in Europe and North America isexpected to rise at similar rates during the forecast period.
Key Players
The major players profiled in e-bike market are Derby Cycle AG(Germany), Panasonic (Japan), Accell Group (Netherlands), Easy Motion electricbikes (U.S), Pedego (U.S), Jiangsu xinri e-vehicle co. ltd (China), Yadeatechnology group co. ltd (China), Bosch (Germany), Stromer (Switzerland), andBTS machinery Co., Ltd (China)
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