Dublin, Nov. 17, 2023 (GLOBE NEWSWIRE) -- The "Global E-Bike Market Outlook to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market for electric bikes (E-bikes) is witnessing a significant upswing, as revealed in the latest market analysis. With a current valuation of over $35 billion in 2022, the sector is forecasted to exceed $110 billion by 2030, growing at a CAGR of 10.3% from 2022 to 2027. This growth trajectory is primarily fueled by the increasing popularity of E-bikes, an eco-conscious consumer base, and the escalating costs of fossil fuels.
Market Dynamics
The E-bike market is characterized by fragmentation, with the top five companies holding a 25.60% market share. Key players include Aima Technology Group Co. Ltd, Giant Manufacturing Co. Ltd, Merida Industry Co. Ltd, Yadea Group Holdings Ltd, and Yamaha Bicycles. The market's expansion is supported by substantial brand promotion investments, celebrity endorsements, and heightened awareness of eco-friendly transportation.
Government Initiatives and Environmental Concerns
Governments worldwide are encouraging the use of electric bikes to mitigate carbon emissions and combat the adverse effects of fossil-fuel-driven vehicles. Increasing global carbon emissions have been a concern for decades, catalyzing the demand for electric vehicles, including E-bikes.
Segment Analysis
- By Propulsion Type: The pedal assist segment dominates the market, attributed to its extended battery life, lower maintenance requirements, and multiple mode options. The throttle segment, however, is anticipated to witness higher growth rates in the coming years.
- By Battery Type: Li-ion batteries lead the segment, offering optimal capacity and efficiency. Their higher voltage capacity compared to other types makes them a preferred choice in the E-bike market.
A selection of companies mentioned in this report includes
- Yadea Group
- Giant manufacturing
- Merida Industries
- Yamaha
- Aima Technology
- Ola Electric
- Hero
For more information about this report visit https://www.researchandmarkets.com/r/sj5rfn
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