Global Electric Bike Market is valued at USD 18.97 Billion in 2021 and is expected to reach USD 36.19 Billion by 2028 with a CAGR of 9.67% over the forecast period.
Electric bikes also called as e-bicycles, e-bikes, pedelecs, and power-assisted (bi) cycles, are standard bikes that are outfitted with an electric engine, a battery, and a drivetrain. These bicycles can be travelled through accelerating or can run on rechargeable batteries. The rechargeable batteries are comprised of three kinds: Lithium-ion (Li-ion), Lead Acid, and Nickel-metal hydride (NiMH).
Lead-acid batteries are most usually utilized and can cover significant distances with a single charge. These bikes are easy to work, helpful for all age groups, and are an efficient option as an environment-friendly means for transportation, in contrast with motored vehicles. Enormous varieties of e-bikes are accessible in the market in terms of performance and design. For the individuals who aren't frequent riders, e-bikes open up a totally different world.
While you may not be adapted to ride 5-10 miles all at once, you can cover those distances effectively with an electric assist, which is an extraordinary method to build perseverance and confidence. On September 19th, 1895, a patent application for an electrical bike was documented by Ogden Bolton Jr. of Canton Ohio. On November 8th of that very year, one more patent application for an electric bike was documented by Hosea W.
COVID-19 pandemic has also impacted the growth of the global e-bike market. During COVID-19 pandemic, people are mostly avoiding public transportation and adopting on e-bicycles as a protected, advantageous, and affordable option in contrast to public transportation. Owing to the government limitations on public transport because of social-distancing rules, travellers are adopting the e- bike as the method of everyday transportation. The COVID-19 pandemic has changed the manner in which individuals drive, and bicycling has become considerably better known all throughout the globe.
However, industry members see transient interruption in electric bike development and its services during pandemic, inferable from the travel ban for vehicles including vehicles and transport, which might set out new opportunities for adoption of electric bicycles.
Global electric bike market is segmented on the basis of product type, battery type and regional & country level. Based upon product type, the global e-bikes market is classified into pedelecs, throttle on demand, speed pedelecs and scooter or motorcycle. Based upon battery type, the market is divided into lead-acid, lithium-ion, nickel-metal hydride, and others.
The regions covered in the global electric bike market are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global e bike is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
By Product Type:
Some of the e-bike companies are
On September 14th, 2021; Stryder Cycles announced the dispatch of metropolitan commuter segment e-bicycle Voltic 1.7 at an initial cost of 29,995. The Stryder Voltic 1.7 model is stacked with features including an amazing 48V/260W engine, a rechargeable 48V lithium- ion battery that can be charged in three hours, and the most elevated range per charge. E- bikes have in current times as a practical method of electric vehicle and an option in contrast to polluting petroleum-driven, internal combustion engine (ICE) vehicles across the globe. With a riding capacity of 60 km for every charge, the ARAI-agreeable lightweight bike Contino ETB-100 has seven velocities and three ride modes (hybrid, electric, and pedal) other than a great group of smart security features, and is suitable for practically all Indian territories.
One of the major factors driving the growth of global electric bike market is raising demand for eco-friendly transportation. Due to progressively busy lives and the need to drive every day, it has become practically important to own a vehicle, as open vehicle frequently isn't reliable. On the rear of that, there is a developing concern for saving and supporting the environment for people in the future, mostly due to the expanding shortage of natural resources and environmental concerns. This represents a special challenge for both society and governments. E-bicycles are the best answer for this issue. They are environment-friendly, and they tackle the issue of the daily commute. This is enlarging the demand for e- bikes.
In addition, increasing number of supportive government initiative to enacting stringent emission norms to reduce carbon emission levels is also supplementing the e bike market growth. The increasing greenhouse gas discharges is one of the main environmental issues. The governments of different nations have forced tough standards on makers to foster vehicles with zero discharges. Key OEMs have intensely put resources into R&D to grow environmentally-friendly vehicles.
The governments in the developing nations have proposed different appropriations, like tax- free attracted of electric bikes. Several tax- free concessions conceded by the government have drawn in more shoppers to purchase electric bikes, which, thusly, are relied upon to support the electric bikemarket development during the forecast period. For instance; in October 2018, the European Union eliminated Value Added Tax (VAT) on e-bicycles.
Furthermore, increasing concern regarding traffic congestion also drives the global electric bike market. Many agricultural nations are facing traffic congestion, particularly in crowded urban areas. The quantity of vehicles is expanding each day, bringing about a lacking existing street infrastructure. Heavy traffic jams affect individuals' personal and professional lives. Subsequently, the government and administering bodies across the globe are taking measures to diminish this traffic congestion.
The utilization of electric bikes can decrease the quantity of private vehicles and cabs on the road and about, and in fact they occupy the least road space, they can diminish traffic congestion. For example; in September 2020, Sparta d-Burst was another product from the Accell Group. Sparta focused around a totally different objective gathering by presenting its d-series (distance series), especially travellers cycling between their home and working environment. With an all out limit of no under 1125 WH, the d-Burst is presented as both an e-bike and a speed pedelecs.
However, international trade policies and regulations may hamper the global electric bike market growth. In spite of that, rising trends of connected e-bikes can provide various electric bike business opportunities for the further growth of the global electric bike market.
Asia Pacific is anticipated to grow at a faster pace in global electric bike market over the forecast period due to the rising technological advancement in electric bike, growing adoption of electric bike and presence of key players in this region. For instance; according to the United Nations Environment Programme (UNEP), Thailand is intending to create 53,000 electric bikes by 2025 and is arranging an exchange plan to make electric vehicles less expensive. Indonesia has planned to eliminate ordinary bikes from 2025.
In November 2019, Merida Industry Co. Ltd. dispatched new eBIG.TOUR and eBIG.NINE e- bikes, with a broad list of new and developed features in contrast with its predecessor. As a feature of the Merida execution e- mountain bicycle family, it is designed as a genuine e- mountain bicycle, while joining some selected credits from the Merida e-travelling classification.
North America is the expected to witness a significant growth in the global electric bike market due to the number of biggest e-bike companies, high affordability, easy availability of these products, rising investment and supportive government initiatives in this region. For example; in October 2020, Pedego Electric Bikes opened a Pedego Electric Bikes store in Boca Raton, Florida, which offers a full scope of e-Bike deals, rentals, administrations, and extras.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 18.97 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 36.19 Million|
|Tables, Charts & Figures:||175|
|Electric Bike Manufacturers||Derby Cycle, Accell Group, Jiangsu Xinri E-Vehicle Co., Ltd., Fuji-ta Bicycle Co., Ltd., Prodecotech, LLC, Mahindra & Mahindra Ltd. (GenZe), Giant Manufacturing Co., Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., Yamaha Motor Co. Ltd. and other.|
|Segments Covered||By Product Type, By Battery Type|
|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|
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us firstname.lastname@example.orgJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
124, City Road, London EC1V 2NX
© Copyright 2023-24 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®