Electric bikes (e-bikes) find versatile applications across urban commuting, leisure cycling, and recreational activities. Their integrated electric motors assist riders in pedaling, making uphill climbs and longer journeys easier. E-bikes often offer multiple riding modes, enabling riders to choose between full electric assistance or a combination of pedal power and electric support. These bikes serve as eco-friendly alternatives for short trips, reducing carbon emissions and congestion. E-bikes are instrumental in promoting active lifestyles, addressing urban transportation challenges, and offering accessible mobility solutions.
According to Data Bridge Market Research, the Global Electric Bike (E-Bike) Market accounted for USD 47 billion in 2021 and is expected to reach USD 102.97 billion by 2029. The market is expected to grow with a CAGR of 10.30% in the forecast period of 2022 to 2029.
“Increasing acceptance of shared micro-mobility solutions boosts the market’s growth”
The increasing acceptance of shared micro-mobility solutions, such as bike-sharing programs, is propelling the expansion of the e-bike market. As more individuals embrace convenient and eco-friendly transportation options, the demand for electric bikes grows. These e-bikes align with the trend toward sustainable mobility, offering a versatile and efficient means of transportation. The synergy between shared micro-mobility and e-bikes fosters market growth by addressing urban mobility challenges and catering to the evolving preferences of modern commuters.
What restraints the growth of the global electric bike (e-bike) market?
“Scarcity of necessary infrastructure restraints the market’s growth”
The growth of the e-bike market is impeded by the scarcity of necessary infrastructure. Inadequate provision of charging stations and secure cycling routes undermines the broader adoption of electric bikes. Without these fundamental components, users face inconvenience and uncertainty in incorporating e-bikes into their daily commute. The absence of such infrastructure limits the accessibility and viability of e-bikes as a reliable mode of transportation, obstructing their potential to become a mainstream choice for urban mobility and hindering the market's overall expansion.
Segmentation: Global Electric Bike (E-Bike) Market
The global 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 electric bike (e-bike) market is segmented into lithium-ion, lithium-ion polymer, nickel metal hydride, lead acid, sealed lead acid, and others.
- On the basis of hub motor location, the electric bike (e-bike) market is segmented into mid drive hub motor, rear hub motor, and front hub motor.
- On the basis of mode, the electric bike (e-bike) market is segmented into pedal assist, and throttle.
- On the basis of battery power, the electric bike (e-bike) market is segmented into under 750 W, and over 750 W.
- On the basis of class, the electric bike (e-bike) market is segmented into class I (pedal assist/pedelec), class II (throttle), and class III (speed pedelec).
- On the basis of usage, the electric bike (e-bike) market is segmented into city/urban, cruise, mountain/trekking bikes, racing, cargo, and others.
Regional Insights: Asia-Pacific dominates the Global Electric Bike (E-Bike) the Market
Asia-Pacific dominates the electric bike (e-bike) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This trend can be attributed to the integration of cutting-edge technologies within the region. Furthermore, the substantial presence of key industry players is set to drive the growth trajectory of the market in this area.
Europe on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 because of stringent vehicle emission standards and the growing adoption of social distancing measures in response to COVID-19, these developments are prevalent within this region.
Recent Development
- In March 2021, Cannondale unveiled the Adventure Neo series of e-bikes designed for commuters. The range comprises four models, all featuring an alloy frame, step-through design, and a Bosch propulsion system. The battery capacity varies across the models, ranging from 400 to 625Wh.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-e-bike-market
The Prominent Key Players Operating in the Global Electric Bike (E-Bike) Market Include:
- 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 (U.K.)
- Solex Cycle North America Inc. (Canada)
- ITALJET SPA (Italy)
- GenZe (U.S.)
- A2B (London)
- Amego Electric Vehicles Inc. (Canada)
- Pedego Electric Bikes (U.S.)
- Riese & Müller GmbH (Germany)
- Sporttechnik GmbH & Co. KG (Germany)
- F.I.V. E. Bianchi S.p.A. (Italy)
- Kawasaki Motors Corp. (U.S.)
- Trek Bicycle Corporation (U.S.)
- myStromer AG (Switzerland)
- Specialized Bicycle Components, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global electric bike (e-bike) market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Electric Bike (E-Bike) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
