The population is constantly growing globally, and the municipalities are getting extremely populated. The infrastructure extends to a larger part and covers the outer parts of the cities too. With this increasing population and growing area, vehicles have also been on a hike. However, nowadays, e-bikes are seen as the best option among people to avoid this traffic and reach their destination quicker and economically, which is a boosting factor for market growth.
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Data Bridge Market Research analyses a growth rate in the Global Electric Bike (E-Bike) Market is expected to reach USD 102.97 billion by 2029 from USD 47 billion in 2021, growing with a substantial CAGR of 10.30% in the forecast period of 2022 to 2029. Rising growth and expansion of the bike rental business will likely increase the growth of the global electric bike (e-bike) market.
- The global electric bike (e-bike) market is expected to reach USD 102.97 billion by 2029 from USD 47 billion in 2021, growing with a substantial CAGR of 10.30% in the forecast period of 2022-2029.
- Asia-Pacific dominates the electric bike (e-bike) market because of this region's introduction of advanced technologies.
- The pedal assist segment accounted for the largest share because it provides features of cycling and electric assistance for a longer cruise.
- Europe is expected to register lucrative growth over the forecast period of 2022 to 2029 because of strict standards regarding vehicle emissions in this region.
Government initiatives to reduce emission levels are expected to drive the market's growth rate
Greenhouse gas emission is well known major concern for every country because it is depleting the climate worldwide. Governments are taking numerous initiatives to lessen greenhouse gas emissions by improving vehicle engines and introducing cleaner fuels. However, with the implementation of electric vehicles such as electric bikes (e-bikes), the fuel would burn less, leading to lower GHG emissions. Certain governments are implementing policies to lessen the carbon footprint, which would encourage companies to launch more electric bikes (e-bikes) for reduced emission levels. These initiatives taken worldwide to reduce greenhouse gas emission has led to the surge in supply and demand of electric bike (e-bike) for lower emission, which is a major driver for market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Battery Type (Lithium-Ion, Lithium-Ion Polymer, Nickel Metal Hydride, Lead Acid, Sealed Lead Acid, Others), Hub Motor Location (Mid Drive Hub Motor, Rear Hub Motor, Front Hub Motor), Mode (Pedal Assist, Throttle), Battery Power (Under 750W, Over 750W), Class (Class I (Pedal Assist/Pedelec), Class II (Throttle), Class III (Speed Pedelec)), Usage (City/Urban, Cruise, Mountain/Trekking Bikes, Racing, Cargo, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Accell Group (Netherlands), Merida Industry Co., Ltd. (Taiwan), Giant Bicycles (U.S.), Yamaha Motor Corporation (Japan), Derby Cycle (Germany), JIANGSU XINRI E-VEHICLE CO., L.T.D. (China), AIMA TECHNOLOGY CO., L.T.D. (China), Karbon Kinetics Ltd (U.K.), Solex Cycle North America Inc. (Canada), ITALJET SPA (Italy), GenZe (U.S.), Amego Electric Vehicles Inc. (Canada), Pedego Electric Bikes (U.S.), Riese & Müller GmbH (Germany), Sporttechnik GmbH & Co. K.G. (Germany), F.I.V. E. Bianchi S.p.A. (Italy), Kawasaki Motors Corp. (Japan), Trek Bicycle Corporation (U.S.), myStromer A.G. (Switzerland), Specialized Bicycle Components, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis:
The electric bike (e-bike) market is segmented on the basis of battery type, hub motor location, mode, battery power, class, and usage.
- On the basis of battery type, the e-bike market is segmented into lithium-ion, lithium-ion polymer, nickel metal hydride, lead acid, sealed lead acid, and others.
The lithium-ion segment of battery type segment is anticipated to dominate the electric bike (e-bike) market
Lithium-ion segment is expected to dominate the global e-bike market with a 39.20% market share because of its longer durability and less maintenance. Also, it is an advanced version of lithium-ion batteries with better durability.
- On the basis of hub motor location, the e-bike market is segmented into mid drive hub motor, rear hub motor, and front hub motor. Mid drive hub motor segment is expected to dominate the global e-bike market with 66.20% market share because it is the most suitable design for pedal assisted e-bikes and pedaled e-bike which are extensively consumed worldwide.
- On the basis of mode, the e-bike market is segmented into pedal assist, and throttle. Pedal assist segment is expected to dominate the global e-bike market with 77.26% market share because it provides features of cycling and electric assistance for longer cruise.
- On the basis of battery power, the e-bike market is segmented into under 750 W, and over 750 W. Under 750 W segment is expected to dominate the global e-bike market with 72.69% market share because under 750 W batteries are light than over 750 W batteries. Moreover, regulations from numerous governments help under 750 W batteries to dominate this segment.
- On the basis of class, the e-bike market is segmented into class I (pedal assist/pedelec), class II (throttle), and class III (speed pedelec). Class I (pedal assist/pedelec) segment is expected to dominate the global e-bike market with 60.24% market share because these type of e-bikes are extensively choose by health conscious people over the full throttle e-bikes.
- On the basis of usage, the e-bike market is segmented into city/urban, cruise, mountain/trekking bikes, racing, cargo, and others.
The city/urban segment of usage segment is anticipated to dominate the w electric bike (e-bike) market
The city/urban segment is expected to dominate the global e-bike market with a 28.48% market share because most e-bikes are used in urban areas for eco-friendly and cost-effective commuting for short distances, such as workplaces or offices.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players in the electric bike (e-bike) market: Accell Group (Netherlands), Merida Industry Co., Ltd. (Taiwan), Giant Bicycles (U.S.), Yamaha Motor Corporation (Japan), Derby Cycle (Germany), JIANGSU XINRI E-VEHICLE CO., LTD. (China), AIMA TECHNOLOGY CO., L.T.D. (China), Karbon Kinetics Ltd (U.K.), Solex Cycle North America Inc. (Canada), and ITALJET SPA (Italy).
Market Development
- In 2021, Cannondale announced the introduction of the Adventure Neo range of commuter e-bikes. This Adventure Neo comes in four models: step-through construction, an alloy frame, and a Bosch driving system with battery capacity ranging from 400Wh to 625Wh.
- In 2019, GenZe announced the introduction of its new advanced product series named GenZe 200 series. The new e-bike comes in new black color with a removable battery which gives the capability to remove and charge the battery wherever possible. This new product enhanced the customer base of the company.
- In 2019, Amego Electric Vehicles Inc. started its acquisition with Gazelle, a European cycle brand. The new partnership allowed the Amego Company to sell the e-bikes of Gazelle in North America.
Regional Analysis
Geographically, the countries covered in the electric bike (e-bike) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the electric bike (e-bike) market during the forecast period 2022 to 2029
Asia-Pacific dominates the electric bike (e-bike) market because of this region's introduction of advanced technologies. Furthermore, the presence of major key players will further enhance the market growth in this region.
Europe is estimated to be the fastest growing region in the electric bike (e-bike) market in the forecast period 2022 to 2029
Europe is expected to grow from 2022 to 2029 because of strict standards regarding vehicle emission in this region. Additionally, progressively practicing social distancing due to COVID-19 will further boost the market growth.
For more detailed information about the electric bike (e-bike) market report, click here – https://www.databridgemarketresearch.com/reports/global-e-bike-market
