ID: MRFR/AM/1344-HCR | February 2021 | Region: Global | 110 pages
E-Bike Market is projected to be worth USD 72.73 billion by 2027, registering a CAGR of 7.89% CAGR during the forecast period (2021 - 2027), The market was valued at USD 38.15 billion in 2020.
The top nations that export e-bikes are China, Germany, The Netherlands, Switzerland, and the United States of America. E-bikes have become very popular recently. This is largely due to their increasing use for the modern urban man, woman, and kid! An electric bike is just a regular bike that’s dressed up with some gadgets and technology. These power it by electricity instead of human pedaling. Some key components include a battery, a motor, a controller, etc…
COVID-19 first appeared on the global stage in March of 2020. Since it was a disease that hospitalized a fraction of the people who got it and killed less than 1% of its victims, governments around the world decided to try to contain the virus.
They did so through quarantines and lockdowns. Many e-bike manufacturers were negatively impacted because they were unable to source some of their raw materials as easily. They passed the higher manufacturing costs onto the consumer in the form of higher retail prices.
Various governments around the world are promoting safer and cleaner means of transportation in an attempt to produce a cleaner and greener environment. Many have responded by passing legislation that encourages and rewards those who use e-bikes often.
More and more governments around the world are encouraging growth in the e-bike market bypassing strict rules and regulations for vehicle emissions. The objective is to try to clean the air up by reducing the number of polluting particles that vehicles emit.
Many urban people also see the e-bike as a cheaper and cleaner way to travel short distances within cities.
Many governments around the world are now requiring vehicle manufacturers to produce vehicles that don’t emit any polluting particles. Since this is hard to impossible to do with automotive vehicles, many manufacturers are looking for practical alternatives. They are finding this in the form of e-bikes.
One of the key factors that are holding back growth in the global e-bike market is the high sticker price of most e-bikes. E-bikes may be less expensive than cars are. However, they are more expensive than their mechanical counterparts. Some motorbikes are priced lower than most e-bikes are!
Buying batteries are not cheap. E-bike batteries cost at least US $500 and can sell for as much as the US $800. Maintenance can be expensive and cumbersome. E-bike owners spend an average of US $280 to maintain their bikes every year.
There are also distribution difficulties in the global e-bike market.
The main challenges in encouraging growth in the global e-bike market lie in designing a smart battery. E-bikes must travel long distances in a short period. This places tremendous pressure on their batteries which have limited capacity for storing energy.
There is also another challenge of designing e-bikes that would work with and be responsive to apps on mobile devices.
Some of the better-known companies in the global e-bike market are:
The CAGR for the global; e-bike market is expected to be 4% until the end of 2022.
Pon Bikes an American e-bike manufacturer is capitalizing on the recent surge in popularity of e-bikes. It is creating a new generation of technologically advanced and energy e-bikes. One brand includes the Performance e-bike. Their lightweight makes them perfect for bikers who have to travel long distances in a relatively short period.
E-bikes that are powered by lithium-ion batteries occupy the lion’s share of the global e-bike market. The reason being that they pollute less, use energy more efficiently, and last longer. They’re also able to carry heavy bikers longer distances in shorter periods.
Most e-bike manufacturers in Europe and North America are focusing on making mid-motors e-bikes. There is a reason for this - it’s more advantageous for them to produce these types of e-bikes. These bikes are smaller, weigh less, able to travel longer distances, use less battery power, etc…
The Asia-Pacific region has the greatest e-bike market share. The Chinese have an affinity for e-bikes, so China dominates the region’s market share. Currently, 75% of all of the e-bikes in the world are sold in China.
The second contender is the European Union. What’s largely driving growth in this region is the stringent standards for vehicle emissions that governments throughout Europe have imposed on drivers and bike riders. This is part of the reason why sales have increased dramatically throughout the European Union. Another factor is that people are increasingly practicing social distancing in light of COVID-19.
North America occupies the third position. The rest of the world occupies the fourth.
Companies are surviving by investing heavily in research and development. This is allowing them to develop new technologies which they can incorporate into bikes. The result is a new generation of bikes that are smarter, faster, more energy-efficient, and friendlier for the environment.
Established players are facing tough competition. One of the reasons for this is the low barriers to entry. They are responding by engaging in joint ventures and mergers and acquisitions in the attempt to retain their current positions in existing markets and to enter into new markets.
Pon Bikes is a major American e-bike manufacturer. They survive by selling specialty and regular e-bikes to different markets. They currently sell 10 brands of E-bikes. Pon has a presence in China, Australia, Hong Kong, Taiwan, the U.S.A, the United Kingdom, Canada, and The Netherlands.
The fact that they sell so many brands gives them the ability to sell an e-bike according to everyone’s tastes and lifestyles.
Governments around the world are encouraging growth in the global e-bike market by passing stricter rules and regulations regarding the number of particulates and emissions motor vehicles can emit. Many urbanites are also seeing riding e-bikes as a cheaper and more environmentally-friendly way to travel.
The market is segmented by market and segment. In the market segment, lithium-ion battery-powered bikes are the most powerful. The CAGR for this market is expected to be 4% until the end of 2022.
|Market Size||2027: USD 72.73 billion|
|CAGR||7.89% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Battery, Frame Material, Consumer Group, Design|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Accell Group N.V., Pon Bike, Merida Industry Co., Ltd, Giant Manufacturing Co., Ltd, Yamaha Motor Corporation|
|Key Market Opportunities||To produce vehicles that don’t emit any polluting particles.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Pon Bike (US), Accell Group N.V. (Netherlands), Merida Industry Co., Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Corporation (Japan) are some of the front leaders in the e-Bike market.
They are developing new e-bikes. They are also entering into mergers and acquisitions and joint ventures to attempt to enter into new markets.
Governments are passing and enforcing stricter policies regarding vehicle emissions. This is largely what has been driving growth in the global e-bike market
E-bikes can be described as an electric motor that is a powered form of motorized bicycles that work on Li-ion chargeable batteries.
The environmental and economical benefits of riding electric bikes are well known. E-bikes are faster and more practical than regular bicycles, while providing a cleaner transportation option than cars.