E-Bike Market: Segmented By Class (Class-I, II & III): By Battery (Lithium-Ion, Lithium-Ion Polymer, Lead Acid, Other): By Usage (Mountain/Trekking, City/Urban, Cargo: By Motor (Mid motor and Hub Motor): By Mode (Throttle and Pedal Assist): By Usage (Mountain/Trekking, City/Urban, Cargo) Global Analysis by Market size, share & trends for 2020-2021 and forecasts to 2031
E-Bike Market to surpass USD 30169.61 million by 2031 from USD 20160.26 million in 2021 at a CAGR of 4.11% within the coming years, i.e., 2021-31.
E-Bike are bicycles with battery-powered assistance that comes through pedaling and, in some cases, a throttle. Electric bike is a bicycle with a combined electric motor drive apparatus and battery, which produces power for causing or secondary impulsion. When you drive the pedals on a pedal-assist e-bike, a small motor involves and gives you a lift, so you can vigor up hills and tour over rough terrain without gassing yourself. In addition to the pedal-assist component, some e-bikes come with a throttle that engages the motor with the press of a button. These belong to a distinct class of e-bike that, obviously, doesn’t offer a pure cycling experience; they’re also illegal in some regions.
The Growth of the market is directly related to the demand of E-Bike and awareness towards the environment. Features such as application of government policies to boost the use of electric bikes, consumers leaning toward uses of e-bikes as an eco-friendly & effective resolution for travel, upsurge in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth.
E-Bike Market is segmented by Battery type into Li-Ion, Li-Ion Polymer, Lead Acid, Other. The lithium-ion battery segment is estimated to account for the largest share of the E-Bike market due to lithium-ion batteries' various benefits. For instance, they are eco-friendly, have a better life cycle, and create more power to weight ratio than other battery types. These batteries have also shown a sharp decline in price in recent years. The effort of e-bike manufacturers to yield lightweight e-bikes has also resulted in the higher adoption of lithium-ion batteries.
The majority of the European and North American e-bike manufacturers are everchanging from Hub to Mid Motors owing to Mid Motors’ advantages, such as lighter weight, smaller size, lesser noise, and unified combination with bike frames. Thus, the Mid-Motor segment is predictable to register a higher CAGR during the forecast period.
Trend towards connected E-Bike
With the growing acceptance of e-bikes, there are technological progressions in the ground of e-bikes. The connected e-bike is one such development, wherein the SIM unit allows the e-bike to receive and data to and from the cloud without a connected phone. Some of the important features offered by the connected e-bike include automatic emergency calls, social media connection, integrated navigation, an anti-theft system, and remote diagnostics. Bosch is one of the main players in the E-Bike market, offering connected e-bike solutions.
Greener and Cleaner Mode of Transportation
Swift urbanization, awareness in people regarding environment, and traffic mobbing in cities are among the factors expected to drive the growth of the demand for e-bikes over the forecast period. E-bikes are measured as a convenient, safe, and reasonable alternative to public transportation. Most countries are working toward increasing e-bikes using both subsidies and regulatory changes to reduce the pressure on public transportation systems. Also, compared to other transport systems, e-bikes are cheaper, easier to charge, and do not need huge reserves in helpful infrastructure. Therefore, an increase in demand for e-bikes is being observed.
International trade policies and regulations
Due to Europe's anti-dumping policy, the region was jammed initially as it could not meet the demand for mechanisms. Nevertheless, to overcome this impact, Europe abstracted its emphasis towards developing countries and increased its imports from Thailand, Turkey, Indonesia, and Taiwan, to achieve the demand for e-bikes and related components. Due to the trade war between the US and China, e-bike sales were impacted in the US. However, in November 2019, a new contract was signed between the US and China to end the e-bike trade war.
The world market for E-Bike Market has been severely affected by the outbreak of the COVID19 pandemic. The suspension of industrial activity affected the E-Bike Market due to weak consumer confidence, store closures, and depletion of consumer incomes. Global GDP has changed consumer behavior and reduced demand for E-Bike. To curb the spread of the coronavirus, the governments of several countries have imposed travel restrictions that severely affect the supply of raw materials for coffee makers. The market is projected to resume its business after the end of the curbs-on movement.
Lucky Jack, LLC (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
E-Bike Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Europe is estimated to contribute the largest share of the E-Bike Market during the forecast period. The European market holds a major share of the global market. The market in the region is projected to register the highest CAGR during the forecast period. Asia Pacific is also estimated to expand at higher rate.
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
|Market size value in 2021
|USD 20160.26 million
|Revenue forecast in 2031
|USD 30169.61 million
|CAGR of 4.11% from 2021 to 2031
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2031
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Class, Battery, Usage, Mode, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co. Ltd.
The E-Bike Market size was estimated at USD 20160.26 billion in 2021 and is expected to reach USD 30169.61 billion in 2031.
Key players: Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co. Ltd.
Lithium-Ion batteries segment and Mid-motor Segment are anticipated to hold the largest Commercial Artificial Intelligence Market
Drivers: Trend towards connected E-Bike and Greener and Cleaner Mode of Transportation
E-Bike are bicycles with battery-powered assistance that comes through pedaling and, in some cases, a throttle. Electric bike is a bicycle with a combined electric motor drive apparatus and battery, which produces power for causing or secondary impulsion.
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