The global e-bike market size reached US$ 21.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting at a CAGR of 6.9% during 2022-2027.
An e-bike refers to a bicycle with several electrical components like a motor, battery, and controller. Due to the addition of an electric motor, the rider can easily overcome obstacles and move uphill without much difficulty. It runs on rechargeable batteries as well as by pedaling. A single charge of the batteries can help the rider cover long distances, on account of which, these bikes have emerged as a cost-effective option for commuters. Moreover, it is an environmental-friendly means of transportation when compared to other vehicles like cars and motorcycles.
COVID-19 Impact Analysis
Note; We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global E-Bike Market Trends:
One of the major factors influencing the demand for e-bikes is the growing awareness regarding the health benefits of cycling among the masses. A lack of physical activity and a shift in dietary patterns have led to a rise in the prevalence of lifestyle diseases like obesity and diabetes. As a result, people are inclining toward cycling to improve their health, combat weight gain issues, and enhance aerobic capacity. Apart from this, several cities are facing the issue of traffic congestion due to the presence of a larger number of automobiles. In line with this, several governments and civic bodies are taking initiatives to reduce traffic congestion by promoting the use of e-bikes.
Moreover, rental services have emerged in several countries over the past few years, on account of the growing focus on shared micromobility services. For instance, e-bikes are widely available for rent in metropolitan areas in the United States, China, Japan, and India, among others. Furthermore, technological advancements have led to the advent of hydrogen-powered bikes and Smart E-Bike Monitoring System (SEMS), which are creating a positive outlook for the market.
The competitive landscape of the market has been analyzed in the report, with some of the key players being
Continental AG, Tianjin Fuji-ta Group, P rodecotech LLC, Trek Bicycle Corporation, Shimano, Inc., Pedego Electric Bikes, Giant Manufacturing Co. Ltd., Klever Mobility, Merida Industry Co. Ltd., Samsung SDI Co., Accell Group, BionX, Robert Bosch GmbH, Yamaha Motor Company, Derby Cycle AG.
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- Based on the mode, the market has been bifurcated into pedal assist and throttle.
- On the basis of the motor type, the market has been divided into mid drive, hub motor, and others.
- Based on the battery type, the market has been segmented into lithium ion, lead acid, nickel-metal hydride (NiMH), and others.
- On the basis of the class, the market has been segregated into classes I, II, and III.
- Based on the design, the market has been classified into foldable and non-foldable categories.
- On the basis of the application, the market has been categorized into mountain/trekking bikes, cargo, city/urban, and others.
- Region-wise, the market has been separated into North America, Asia Pacific, Latin America, Middle East and Africa, and Europe. Browse related reports:
US E-Bike Market Share: https://bit.ly/3yc4tFk
Europe E-Bike Market Share: https://bit.ly/3bfFUx0
China E-Bike Market Share: https://bit.ly/3o7NFuf
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