Market Research Future (MRFR) study on the global e-bike market is a detailed assessment that provides a holistic overview of the industry. The study discusses the COVID-19 overview of the global e-bike market and offers a concise summary of key markets, current trends, growth forecasts, and market challenges from 2023 to 2030 (forecast period) to identify investment opportunities.
Electric bikes, also known as e-bikes, are
equipped with an electric motor used to gain momentum. They use chargeable
batteries, which have various capacities depending on their size. Electric bikes
are categorized on the basis of the power of the electric motor on which they
operate. Peddle assist, throttle on demand, speed pedelec, and electric moped
or motorcycle are all types of electric bikes.
Key Players
The major players profiled in e-bike market are
Derby Cycle AG (Germany), Panasonic (Japan), Accell Group (Netherlands), Easy
Motion electric bikes (U.S), Pedego (U.S), Jiangsu xinri e-vehicle co. ltd
(China), Yadea technology group co. ltd (China), Bosch (Germany), Stromer
(Switzerland), and BTS machinery Co., Ltd (China)
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of e-bike market
Market Dynamics
The global market for electric bikes continues
to be influenced by a mix of different macro-economic and micro-economic
factors. Consistent advances in technology have allowed the development of
comfortable, environmentally-friendly electric bikes. Demand for electric bikes
is also greatly affected by rising customer perception of the need to reduce
their carbon footprint.
Extended government funding and implementation
of strict rules in different geographies have driven the sale of electric
bikes. In metro cities, particularly in North America and European countries,
the concepts of public charging infrastructure and e-bike rental services are
on the rise. Increased investment in research and development by a range of
industry players, the growth of new high-efficiency batteries, and the production
of high-performance vehicles have played a pivotal role in accelerating the
adoption of electric bikes.
Nevertheless, some factors pose challenges to
the development of the global market for electric bikes. Electric bikes are
very expensive and cannot be purchased by all. As these bikes run on batteries,
they need regular charging – which remains a challenge due to the limited
charging stations. Maintenance of the product is also of the utmost importance,
and also requires a proper charging system. High maintenance costs are another
primary factor that dissuades customers from purchasing electric bikes.
Market Segmentation
The global e-bike market has been segmented
into type and battery.
Based on type, the global e-bike market has
been classified into throttle on demand, pedelecs, scooter & motorcycle
Based on battery type, the global e-bike market
has been segmented into nickel-metal hydride (NiMH), lead acid, lithium ion,
and others
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Regional Analysis
Region-wise, the global e-bike market has been
segmented into North America, Asia Pacific, Europe, and the Rest of the World.
The Asia Pacific region is anticipated to
accelerate the global market for electric bikes. The APAC region is expected to
remain attractive for electric bikes and is expected to lead the global demand
for electric bikes. Countries like India and China have made a significant
contribution to the growth of the APAC region. China has seen a higher use of
electric bikes, which has increased sales figures and has also had an impact on
the development of the global market. In India, the government has promoted the
use of electric bikes and is looking forward to transforming every
"fuel-driven vehicle" into electric vehicles by the end of 2035.
Some main markets for electric bikes are Europe
and North America. Several electric bike manufacturers are based in these two
areas. Europe and North America remained at the forefront of developments in
electric bike technology. The market for an electric bike in Europe and North
America is expected to rise at similar rates during the forecast period.
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