According to MRFR analysis, the global Electric Bicycles market is expected to register a CAGR of ~ 11% from 2022 to 2030 and hold a value of over ~USD 67 Billion by 2030.
E-bicycles
are becoming increasingly popular because it can travel long distances and are easy
to transport. Since the outbreak of COVID-19, people have been increasingly
avoiding using public transportation to protect themselves from the virus. As a
result, many people have begun purchasing their automobiles and working from
them instead. E-bicycles are becoming a popular alternative to cars, as they
are more comfortable and cost-effective. This charging solution is simple to
use and very affordable.
Regional Analysis
The
Asia Pacific region dominates the e-bicycles market due to factors such as the
extensive bicycle infrastructure in developed and developing countries,
including China and Japan, and the increasing stringency of emission
regulations for gasoline motorcycles. North America is also expected to show good
growth in the market, with several cities lowering speed limits, closing
certain roads to traffic, and adding dedicated lanes for two-wheelers.
Market Segmentation
The
global Electric
Bicycles market has been segmented into type, and battery type.
Based
on type, the market has been segmented into Pedal Assist/ Pedelecs, Power on
Demand, and Pedal Assist with Power on Demand. The pedal assist feature is the
most popular among bike users because it offers a longer battery life, requires
less servicing, and allows users to choose from three to five different modes
of pedal assist, depending on the model.
Based
on battery type, the market has been segmented into Sealed Lead Acid and Li-Ion
Batteries. Lithium-ion batteries are anticipated to grow at a higher rate
during the forecast period, due to their superior battery chemistry, higher
power-to-weight ratio, efficient charging, higher energy density, and longer
battery life cycle.
Key Players
Some
of the key market players are Giant Manufacturing Co.,
Ltd. (Taiwan), Derby Cycle, Easy Motion (USA), Accell Group N.V. (Netherlands),
and Yamaha Motor Corporation (Japan). Merida Industry Co., Ltd. (China).
Moustache Bicycles Bike (US), NYCeWheels.
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