E-Bike Market is projected to be worth USD 72.73 billion by 2027, registering a CAGR of 7.89% CAGR during the forecast period (2021 – 2027), The market was valued at USD 38.15 billion in 2020.
Market Research Future (MRFR) study on the global E-Bike Market is a detailed assessment that provides a holistic overview of the industry. The study discusses the COVID-19 overview of the global e-bike market and offers a concise summary of key markets, current trends, growth forecasts, and market challenges from 2017 to 2022 (forecast period) to identify investment opportunities.
Electric bikes, also known as e-bikes, are equipped with an electric motor used to gain momentum. They use chargeable batteries, which have various capacities depending on their size. Electric bikes are categorized on the basis of the power of the electric motor on which they operate. Peddle assist, throttle on demand, speed pedelec, and electric moped or motorcycle are all types of electric bikes.
The E-Bike Market includes the study of the competition in the market and the strategies that they use. Easy Motion Electric Bikes, Pedego, Stromer, Jiangsu Xinri E-Vehicle Co. Ltd, Yadea Technology Group Co. Ltd Panasonic,, BTS machinery Co., Ltd, Derby Cycle AG, and Accell Group are among the major market players that have been comprised in the report.
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The global market for electric bikes continues to be influenced by a mix of different macro-economic and micro-economic factors. Consistent advances in technology have allowed the development of comfortable, environmentally-friendly electric bikes. Demand for electric bikes is also greatly affected by rising customer perception of the need to reduce their carbon footprint.
Extended government funding and implementation of strict rules in different geographies have driven the sale of electric bikes. In metro cities, particularly in North America and European countries, the concepts of public charging infrastructure and e-bike rental services are on the rise. Increased investment in research and development by a range of industry players, the growth of new high-efficiency batteries, and the production of high-performance vehicles have played a pivotal role in accelerating the adoption of electric bikes.
Nevertheless, some factors pose challenges to the development of the global market for electric bikes. Electric bikes are very expensive and cannot be purchased by all. As these bikes run on batteries, they need regular charging – which remains a challenge due to the limited charging stations. Maintenance of the product is also of the utmost importance, and also requires a proper charging system. High maintenance costs are another primary factor that dissuades customers from purchasing electric bikes.
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the E-Bike Market Share divides it on the basis of type, battery frame material, design, a consumer group, and region. Types of e-bikes have been segmented into throttle control, pedal assist, and others.
Battery types used in e-bikes include lithium ion, sealed lead-acid, and others.
The frame material for e-bikes has been divided into carbon fiber, aluminum, carbon steel, aluminum alloy, and others.
Consumer groups targeted in the market have been segmented into women, men, and children.
Designs of e-bikes have essentially been bifurcated into foldable, and non-foldable.
Owing to the high presence of bike riders in the region and the increasing adoption of e-bikes by consumers in the region, the European market is expected to have a considerable impact on the global E-Bike Market Size . Europe has highly supportive laws on environmentally conscious products and promotes the adoption of e-bikes as such.
Owing to the high traffic congestion in large cities present in the area, the North American market is also important. These towns are looking for convenient alternative methods that don’t add to the existing problem. Additionally, demand for environmentally friendly modes of transport is rising e-bike sales.
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Table Of Content
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objectives
2.3 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
3.5 Market Size Estimation
4 MARKET DYNAMICS
5 MARKET TRENDS
5.1 Trends In Supply/Production
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