Global E-Bike Market is valued at USD 23.19 Billion in 2021 and is expected to reach USD 44.09 Billion by 2028 with a CAGR of 11.3% over the forecast period.
Cycling is a low-impact and healthy activity having many mental and physical health advantages, such as alleviating stress, building endurance, burgeoning the cardiovascular fitness, and enhancing muscle strength among population all over the globe, thereby powering global market.
An electric bike is a scooter, bicycle, or motorcycle with an incorporated electric motor for thrust. It is either completely propelled through electric power or partially helped by peddling. It comes in different classes, such as throttle on demand (thumb & push button, twist grip), pedelec/pedal assist (cadence drive, torque sensor), and scooter/motorcycle. Users employ electric bikes for recreation or commutation.
By product type, the global e-bike market has been divided into throttle on demand, pedelecs, and scooter & motorcycle. The market is ruled by the pedelecs section, due to its high acceptance for commute all over the world. This section includes speed pedelec and pedelec e-bikes on the basis of their speed difference and power assistance.
By drive mechanism, the e-bike market has been divided into mid drive, hub motor, and others. The hub motor is the most-broadly employed drive mechanism in which either of the wheel is substituted with one having a hub motor linked to a motor controller or battery by a wire.
By battery type, the global e-bike market is divided into Nickel-metal hydride (NiMh), Lithium-ion (Li-ion), Lead-acid, and others. The lead acid section dominated the global market, due to its ease of recycling and low cost. On the other hand, the popularity of Li-ion batteries has been increasing exponentially, credited to their high capacity and light weight. Class-I electric bike is expected to be the biggest segment of e-bike market. Class-I e-bike offers assistance only when the rider is pedaling and prevents offering assistance when the bicycle crosses 20 mph.
The major players included in the global e-bike market forecast are,
The global e-bike market has been seeing bright opportunities, due to strict rules and government support in favor of e-bikes. Furthermore, increasing user preference towards employment of e-bikes as an efficient and environmental-friendly solution to commute along with rising fuel costs drives the development of the global e-bike market. Moreover, raising interest in cycling as a recreational and fitness activity has powered a paradigm shift in fitness-conscious users, because riding the e-bike assist to travel remote distances with the same level of peddling. In addition, cycling is a low-impact and healthy activity having many mental and physical health advantages, such as alleviating stress, building endurance, burgeoning the cardiovascular fitness, and enhancing muscle strength among population all over the globe.
The global e-bike market by geography has been divided across Europe, North America, LAMEA, and Asia Pacific. The Asia Pacific area leads the global market but is predicted to see a low development rate during the coming period, due to the ban on e-bikes in some main cities of China. The European area is predicted to see a significant requirement. On the other hand, the e-bike market in North America is predicted to develop at the max CAGR all over the forecast region. The LAMEA area is also predicted to see a notable development, due to increase in awareness about eco-friendly goods.
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 23.19 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||11.3%|
|Market Size Expected in 2028:||USD 44.09 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Accell Group, Trek Bicycle Corporation, Derby Cycle, Fuji-ta Bicycle Co, Jiangsu xinri e-vehicle Co, Giant Manufacturing Co, Bionx International Corporation, Mahindra & Mahindra Ltd. (GenZe), Tianjin Golden Wheel Group Co, Prodecotech|
|Segments Covered||By Class, By Battery Type, By Motor Type, By Mode|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|