Market Research Future (MRFR) has published a cooked research report on the “E-Bikes Market” that contains information from 2018 to 2030. The E-Bikes Market is estimated to register a CAGR of 7.89% during the forecast period of 2023 to 2030.
MRFR recognizes the following companies as the key players in the global E-Bikes Market — Accell Group N.V., Pon Bike, Merida Industry Co. Ltd, Giant Manufacturing Co. Ltd, Yamaha Motor Corporation, and others
The global E-Bikes Market is accounted to register a CAGR of 7.89% during the forecast period and is estimated to reach USD 84.26 billion by 2030.
the e-bike market was experiencing significant growth and had become a prominent segment within the broader bicycle industry. E-bikes, or electric bikes, are bicycles equipped with an electric motor that assists the rider's pedaling effort. They have gained popularity due to their ability to make cycling more accessible, especially in hilly terrain or for longer distances, as well as their potential to serve as an eco-friendly mode of transportation.
The global E-Bikes Market has been segmented based on Type, Battery, and Frame Material.
The e-bikes market segmentation, based on type, includes pedal assist, throttle control and others. The pedal assist e-bikes segment held the majority share in 2021 contribution to around ~50-60% in respect to the e-bikes market revenue. E-bikes with pedal assistance produce more power from the motor, allowing riders to pedal more quickly and easily. Additionally, these bikes are frequently used on hills and other difficult terrain. Young people's rising demand for pedal-assisted e-bikes is projected to fuel market expansion.
The e-bikes market segmentation, based on battery, includes lithium-ion, sealed lead acid and others. As per the market forecast, the sealed lead acid segment dominated the market in 2021 and lithium-ion battery is projected to be the faster-growing segment during 2022-2030. The segment's expansion can be ascribed to the many advantages that lead-acid batteries provide, including their affordability and durability. However, because these batteries are heavy and discharge quickly, it is anticipated that their use will decrease over the upcoming years.
The e-bikes market segmentation, based on frame material, includes carbon fiber, carbon steel, aluminum, aluminum alloy, and others. The carbon fiber e-bikes segment held the majority share in 2021 contribution to around ~50-60% in respect to the e-bikes market revenue. E-bikes with carbon fiber has a various benefits such as light weight and reduce the chances of accidents as well as offer more speed which are expected to drive the demand for e-bikes is projected to fuel market expansion.
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The global E-Bikes Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific E-Bikes market accounted for USD 19.78 billion in 2021 and is expected to exhibit a 43.10% CAGR growth during the study period. This is attributed to the presence of many big giant companies and rapid development in electric vehicle infrastructure across the region. Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe e-bikes market accounts for the second-largest market share due to the strict government policies on vehicle emissions and rapid adoption of e-bikes throughout the region which further rise the demand for e-bikes in the European region during the forecast period. Further, the Germany e-bikes market held the largest market share, and the UK e-bikes market was the fastest-growing market in the European region.
The Asia-Pacific E-Bikes Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to increased sales of electric vehicles and the availability of raw materials with affordable prices. Moreover, China e-bikes market held the largest market share, and the India e-bikes market was the fastest-growing market in the Asia-Pacific region.
Key Findings of the Study