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Data Bridge Market Research analyses that the electric bike (e-bike) market was valued at USD 47 billion in 2021 and is expected to reach USD 102.97 billion by 2029, registering a CAGR of 10.30% during the forecast period of 2022 to 2029.
Market Overview
A bicycle having an integrated electric motor drive mechanism and battery that generates electricity for causing or assisting propulsion is known as an electric bike. Electric bikes with a tiny motor to help the rider pedal force to more powerful e-bikes that create enough power to totally operate the bike using throttle are available globally.
Some of the major players operating in the electric bike (e-bike) market:
- Accell Group (Netherlands)
- Merida Industry Co., Ltd. (Taiwan)
- Giant Bicycles (Taiwan)
- Yamaha Motor Corporation (Japan)
- Derby Cycle (Germany)
- JIANGSU XINRI E-VEHICLE CO.,LTD. (China)
- AIMA TECHNOLOGY CO.,LTD (China)
- Karbon Kinetics Ltd (UK)
- Solex Cycle North America Inc. (Canada)
- ITALJET SPA (Italy)
- GenZe (US)
- A2B (London)
- Amego Electric Vehicles Inc. (Canada)
- Pedego Electric Bikes (US)
- Riese Müller GmbH (Germany)
- Sporttechnik GmbH Co. KG (Germany)
- F.I.V. E. Bianchi S.p.A. (Italy)
- Kawasaki Motors Corp. (USA)
- Trek Bicycle Corporation (US)
- myStromer AG (Switzerland)
- Specialized Bicycle Components, Inc. (US)
Electric Bike (E-Bike) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- The rising adoption rate of shared micro-mobility.
The upsurge in adoption rate of shared micro-mobility will propel the growth rate of electric bike (e-bike) market. Shared micro mobility is part of the public transportation ecology. As a flexible transportation option with low operating costs and overhead, shared electric micro-mobility can augment higher-volume fixed-route transit systems by providing mobility services for multiple journeys at a lower per-traveller cost.
- Strict government rules and regulations
More and more governments throughout the world are fostering the growth of the e-bike market by circumventing tough automobile emissions standards. The goal is to clean the air by minimizing the number of harmful particles emitted by cars.
Growing environment concerns
In order to create a better and greener environment, various governments around the world are supporting safer and cleaner modes of transportation. Many governments have responded by enacting legislation that encourages and rewards frequent e-bike riders.
Furthermore, rising urbanization and increasing level of disposable income will drive market value growth. Also, increasing government support and initiatives to increase the sale of e-bike will cushion the growth rate of electric bike (e-bike) market.
Opportunities
Emerging trend of connected e-bike
The surging trend of connected e-bike will boost new market opportunities for the market's growth rate. Technological breakthroughs in the field of e-bikes have been made in response to the increased demand for e-bikes. Connected e-bike is an illustration of technological advancement. It uses SIM module to send as well as receive data to and from the cloud without the use of smartphone.
Moreover, the development of lightweight electrical energy storage systems and emerging new markets will influence the market's growth rate and further boost beneficial opportunities in coming years.
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Highlights of TOC :
Chapter 1: Global Electric Bike (E-Bike) Market Overview
Chapter 2: Study Assumption
Chapter 3: Scope of the Study
Chapter 4: Global Electric Bike (E-Bike) Market Economic Impact
Chapter 5 : Analysis Methodology
Chapter 6: Research Phases
Chapter 7: Competition by Manufacturers
Chapter 8: Current Market Scenario
Chapter 9: Value Chain/Supply Chain Analysis
Chapter 10: Government Regulations and Initiatives
Chapter 11: Production, Revenue (Value) by Region
Chapter 12: Supply (Production), Consumption, Export, Import by Regions
Chapter 13 : Market Drivers
Chapter 14 : Market Restraints/Challenges
Chapter 15: Market Opportunities
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