The Global E-bike Market was worth US$ 39.33 billion in 2022 and is anticipated to reach a valuation of US$ 79.44 billion by 2028 and is predicted to register a CAGR of 12.69% during 2023-2028.
The E-bike is a bicycle, motorcycle, or scooter with an integrated electric motor for the drive without any pollution. The electric bike is classified base on of power of the electric motor, speed, battery type, conversion kits & some other categories. The E-bike market estimated that class -1 is the largest segment in the global market. These electric bikes are environmentally friendly and do not create pollution. Other vehicles are now available for transportation and daily use, for example, E-bus, E-4 wheelers, etc.
In the electric bike market, batteries are highly-priced that cannot be afforded by all people. Also, these bikes run on different types of cells that require frequent charging. For the charging of electric bikes, the challenge in front of the companies is less number of charging stations and land. There is less number of charging stations in every country.
E-bikes are considered to feasible transportation option due to their power capacity, and moderate speed. In 2019, two electric scooters were launched in the Indian market, ENTRANCE & EPLUTO with a long-range 120km/charge. The Indian government has published that it would become a 100% electric vehicle nation by 2030. Based on government subsidies, demand from consumers, GDP growth, also urbanization the market forecasted growth.
Market Drivers:
Cycling is beneficial for physical & mental health. Tourists prefer e-bikes for self-driving, even though they have no licensing requirements. Many cities provide awareness about the use of e-bikes for transportation in cities, office places, etc. E-bikes have low carbon emissions, and they can also be charged on solar power. The countries like China is facing traffic problem in crowded places, and the government takes the initiative for manufacturing e-bike as a solution, to reduce pollution and traffic.
Market Restraints:
E-bikes show continuous innovation, growth, & development. The primary concern is that the e-bike is the battery. These batteries are made of lithium-ion; due to this, they have a limited life span. There are limited companies that produce this type of battery & the cost, and maintenance are more effective.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
12.69% |
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Segments Covered |
By Product Type, Battery Type, Mechanism, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Giant Manufacturing Co. Ltd., Merida Industry Co. Ltd., Leader 96, BH Bikes, Pedego Electric Bikes, Yamaha Motor Co., Accell Group N.V, Energica Motor Co., Mahindra & Mahindra Ltd., Robert Bosch GmbH, and Others. |
Market segmentation:
The pedelecs market is highly dominating with the adoption rate increasing rapidly. This is because of the speed difference & power. The global pedelecs market is growing at a CAGR of 7.74% during 2018-2022, owing to the high demand for eco-friendly transportation of e-bikes. E-scooter is adopted among the young population and the sale of e-scooter increased in a middle-class community in developing countries. The scooter is affordable for transportation. There is an increase in urbanization and moving from one to another, which will increase the opportunity for e-bikes.
Based on battery type, Lithium-ion batteries, lithium-ion polymer batteries, lead-acid battery & others are notable. Lithium-ion batteries are lightweight, low cost, and high capacity. These are 12- or 18-amp-hour batteries. The lead-acid battery is low-cost & easy to recycle.
Depending upon the mechanism, hub motors and mid-drive are the main variants. Hub Motors are leading in the market for e-bikes. Hub motors are heavy, and they are used as applications in e-bikes. It degrades greenhouse gas emissions in the environment.
Market Regional Analysis:
The Global E-bike Market Report includes the segmentation of regions:
Lithium-ion batteries & lead acid batteries always represent the largest segment of e-bike sales. China is a leading player in the e-bike market for low cost & popularity. In 2019, China contributed around 84% of the overall revenue in the Asia Pacific. The adoption of nickel batteries is augmenting in Europe & North American nations.
The Asia Pacific region is the most dominating in the global electric bicycle market. The government of India is taking initiatives for e-bike manufacturing in its domestic market. The government of the nation also announced the financial support & schemes, and their subsidy. The growth in this area is accelerated because of an increase in the number of e-scooter manufacturing & their charging infrastructure, as investments in some countries such as Taiwan, India, etc. There is a rising demand for an e-bike in this Germany, France, the Netherlands & the UK in the European area.
Competitor Scenario:
The companies like Yamaha Motor Pvt Ltd and Mahindra applied their strategies in the market to expand their fleets to national as well as international markets the companies launched their e-bike & also invested in the installation of charging station infrastructure in various countries.
Market Key Players:
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