ID: MRFR/AM/2842-CR | October 2020 | Region: Global | 132 pages
According to the latest research report, with a forecasted worth of USD 59.43 billion by the end of the year 2027, the Electric Bicycles Market size is expected to grow at a compound annual growth rate of a CAGR of 10.17 percent over the forecast timeframe. In 2020, the market accounted for us$ 25.61 billion.
The incorporated and electrically powered mechanism is fitted into the electric bikes and motorcycles. The system makes use of such a battery, which may provide electricity that aids in movement and can be recharged. E-bikes are becoming more popular across the world, thanks to their long-distance and the use of a compact engine that allows them to be transported more easily. Cycling enthusiasts might benefit from this by aiding them with their pedaling power. Additionally, this allows the reasonably powerful motorcycles to provide enough power so that they may entirely move the car with the aid of the throttle. These bicycles give their consumers the comfort and simplicity they need and deserve. Because of this, governments in a variety of countries are sponsoring and launching studies that may ultimately lead to a rise in the market of electric vehicles, particularly e-bikes.
This report contains all the information on the global Electric Bicycles Market analysis and its strengths. In addition, the report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global Electric Bicycles Market forecast for 2030 is also included in the report.
People have stopped using public transportation as a result of the COVID19 epidemic. In order to protect themselves from the epidemic, many people are choosing to purchase their own automobiles and begin working in them. E-bikes are on the rise and are becoming a better, more comfortable, and more cost-effective mode of mobility. This is a low-cost and simple-to-use charging solution. Supporting this kind of network does not need large sums of money. For this cause and others, e-bike sales continued even throughout the outbreak year of 2020, even after lockdowns were implemented on a temporary or permanent basis.
The economic growth is witnessing increasing urbanization, which is also causing traffic congestion to become more congested. This is one of the primary causes why the market is turning toward a desire for e-bikes rather than traditional bicycles. In addition, after the epidemic, demand for shared transportation mobility is on the wane, which is a good thing. They offer a reasonably safe and economical option to public transportation, as well as a means of avoiding sickness. Therefore, the governments are implementing incentives and regulatory adjustments in order to reduce the degree of stress on mass transit.
Furthermore, the rise in the price of gasoline at the worldwide level, the growth in pollutants, and the overcrowding of traffic, particularly in metropolitan areas, have all contributed to the rising attractiveness of electric bikes on every landmass.
The anti-dumping policies of several nations, such as Europe, negatively influenced the market for components, which was worrying. In order to combat this, the area is boosting the number of imports it makes. As a result, e-bikes and their associated components will be fully operational.
Furthermore, the usage of lithium-ion packs or the driving system of a motor incurs the highest possible cost, which limits the market's ability to expand. Because of this, the upswing in the acceptance of electronic bikes in nations apart from China is being held back by high prices. Although the E-bike industry is developing at a quick pace throughout the world, the effect of this constraint may be reduced in the foreseeable future as a result of this electric bicycles market growth.
Mountains and traveling e-bikes are becoming more popular as customers express an increased passion for trekking and other leisure activities. There has been a rise in interest in high-performance adventure sports in recent years, which has increased in the market for mountain and trekking e-bikes. Electric motors make participation in sports and physical activities more adaptive, which is a good thing. Mountain e-bikes are becoming more popular for mountain hiking and everyday commuting in several nations. The fact that mountain e-bikes are so durable is the primary reason for their increasing appeal.
The market for electric bicycles is growing at a rate that is mostly determined by the market segments. In general, the market is segmented into the following categories: Class According to the electric bicycles market research, the class sector is divided into three categories: Class I, Class II, and Class III.
Application, these motorbikes and bicycles may be utilized in a variety of settings, including freight transport, city travel, and both countryside and urban environments, as well as climbing and hiking.
Battery: There are many different types of cells used by electric bikes to ensure that they run smoothly and efficiently. Lithium-ion batteries, lithium-ion polymer batteries, and lead acids are all examples of rechargeable batteries.
The electric bicycles may go at speeds of up to 20 kilometers per hour, somewhere between 25 and 45 kilometers per hour. The motor and the mode The mid-and hub-motors, and the pedal-assist control and control mode, are employed by electric bikes to perform their operational functions.
The market is segmented based on Class, Application, Application, Battery, Speed, and regions. The electric bicycles market trends are expected to witness decent growth during the forecast period.
The application is segmented into adhesives, coatings, freight transport, city travel, and both countryside and urban environments, as well as climbing and hiking based on the application.
The market is segmented into lithium-ion, polymer, and lead acids based on the propulsion types.
According to the reports, on the basis of region, the global electric bicycles market is divided into North America, Europe, Asia Pacific, and the rest of the world. The revenue generated by the electric bicycles market is highly reliant on the success of the top market competitors in each of the four major geographical regions. These regions include the Asia-Pacific market, the North American region, which includes the United States and Canada markets, the European countries, and the rest of the globe. By the conclusion of the worldwide projected timeframe in 2023, the electric bicycles market prognosis forecasts that the Asia Pacific region will have emerged as a leading force in the market's performance overall. In addition, India and Taiwan, as well as the Japanese and Japanese markets, are emerging as prospective growth markets for electric motorcycles, with the prospective to stimulate a rise in the number of electric bike purchases.
Furthermore, electric bike makers in North America, as well as the European market, are shifting their focus to the mid-motors business sub-segment in order to compete. The major reason for this is because of the benefits, such as the lighter and tiny size. Additionally, the background noise produced by these motors is reduced. This market sector in these areas, as a result, is predicted to rise at a reasonable compound annual growth rate.
In order to study the revenue generated by the electric bicycles industry, it is necessary to track the activity of the leading market competitors across a range of diverse areas. This will also aid in the development of a competitive perspective for the industry and the identification of the primary dominating forces towards the conclusion of the projected timeframe.
Major Key Players
The following report comprises of –
|CAGR||10.17% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By Battery, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Giant Manufacturing Co., Ltd. (Taiwan), Derby Cycle, Easy Motion (USA), Accell Group N.V. (Netherlands), Yamaha Motor Corporation (Japan). Merida Industry Co., Ltd. (China). Moustache Bikes Bike (US), NYCeWheels,|
|Key Market Opportunities||
|Key Market Drivers||Increase the sale of electric vehicles|
Frequently Asked Questions (FAQ) :
The market's expansion is predicted to profit from a compound annual growth rate (CAGR) of 6 percent in the following years.
The electric bicycle market can value at USD 59.43 billion by 2027.
A rechargeable e-bike can cover up to 25 to 32 kilometer per hour.
Pedego Electric Bikes (California), Karbon Kinetics Limited (KKL) (U.K.), and A2B Electric Bikes (U.K) are some reputed companies in the electric bicycle market.
Growing environmental concern can boost sales of e-bikes, which can support the electric bicycles market expansion.
The growing desirability of e-bikes among developing economies of APAC can prompt the APAC electric bicycle market growth.