E-Bike Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Automotive & Transportation
Report Code - OMR-AT-211
Format: PDF, PPT, and Excel
E-Bike Market to Grow with a CAGR of 10.9% During 2023-2030; Market to Expand Due to Contributing Factors Such as Increasing Awareness Among the General Population
E-bikes include motors and batteries to assist riders. E-bikes let users ride longer and more often without tiring. Several governments support electric cars, motorcycles, and bicycles to cut carbon emissions.
Although the increase in bicycle purchases was already visible before the COVID-19 outbreak, it has been greatly increased by the widespread concern caused by the outbreak. For instance, according to the World Economic Forum (WEF), electric bike sales in the United States will increase by 145% in 2020 compared to 2019.
Key Takeaways of the E-Bike Market
By Propulsion Type
The pedal-assist market is projected to expand at the highest rate over the forecast period. Pedal-assist e-bikes have a more powerful motor, enabling riders to travel faster while exerting less effort. Additionally, these bicycles are often utilized in steep terrain and other challenging routes.
By Battery Type
Lead-acid batteries will have the greatest market share over the projection period. Many advantages of lead-acid batteries, such as their low cost and endurance, have led to the growth of the business.
By Power
Due to their ease of use in hilly and steep terrain, e-bikes with a power output of more than 250W will dominate the market. This is predicted to fuel the expansion of the industry during the projected time range.
By Region
Asia-Pacific is anticipated to demonstrate substantial dominance throughout the projection period. There are several technological advancements, and the charging infrastructure in the Asia-Pacific area is continuously advancing. Many prominent companies, like Yadea Group Holdings Ltd., Yamaha Motor Corporation, and Aima Technology Group Co. Ltd., have established themselves in this industry.
Increases in Available Technological Capabilities Will Fuel Market Expansion
E-bikes' growing popularity is also attributable to sector-wide technological advancements. For example, cloud-connected e-bikes may broadcast and receive data through the cloud without requiring a smartphone connection. Helpful features on these bicycles include remote diagnostics, built-in navigation, theft prevention, social media integration, and an automatic emergency call function. Due to these factors, there should be a rise in demand for electric bicycles.
European nations such as Germany, France, and Spain, among others, have prioritized developing their bicycle infrastructure and aiming to increase their annual spending in this area to construct a reliable cycling network more swiftly.
Shared mobility's increasing popularity is Driving Market Potential
The public transportation system already integrates micro-mobility sharing. Flexible transportation solutions, such as shared electric micro-mobility, which offer mobility services for several trips at a lower cost per traveler, can supplement higher-volume fixed-route transit services. In the past two years, mountain biking's popularity has surged due to the global increase in riding demand.
In August 2021, the North American Bikeshare and Scootershare Association (NABSA) published its annual report on the shared micro-mobility market. The report predicts that more than half of all trips made in North America in 2019 will be on shared micro-mobility vehicles, with 83.4 million trips made in 2020.
Global E-Bike Market Prominent Players
• Giant Bicycles (Taiwan)
• Panasonic Corporation (Japan)
• Trek Bicycle Corporation (U.S.)
• Rad Power Bikes (U.S.)
• Accell Group (Netherlands)
• Bionx International Corporation (Canada)
• Yamaha Motor Company (Japan)
• Aima Technology Group Co. Ltd. (China)
• Pedego Electric Bikes (U.S.)
• Merida Industry Co. Ltd (Taiwan)
Report Scope for E-Bike Market
Propulsion Type
• Pedal-Assisted
• Throttle-Assisted
• Speed-Assisted
Battery Type
• Lead-Acid Battery
• Lithium-Ion Battery
• Others
Power
• >250W
• <250W
Application
• City/Urban
• Trekking/Mountain
• Cargo Delivery
• Others
E-Bike Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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