New York, Sept. 19, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global electric bike market generated USD 45.75 billion in 2021, and is estimated to generate USD 109.53 billion by 2030, manifesting a CAGR of 10.21% from 2022 to 2030. The report provides a detailed analysis of drivers and opportunities, key segments, Porter’s Five Forces, market size & estimations, and competitive landscape.
Covering an entire analysis, insights, and data in nearly 300 pages, accompanied by 160 tables and 130 figures, the report aims to become a valuable source of guidance for leading market players, new entrants, and investors. The report also offers the electric bike market share analysis for 2021.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 45.75 Billion |
| Market Size in 2030 | USD 109.53 Billion |
| CAGR | 10.21% |
| No. of Pages | 287 |
| Tables | 160 |
| Figures | 130 |
| Segments covered | Product Type, Conversion Kit, Battery Type, and Geography. |
| Drivers | Increase in consumer preferences for environment-friendly and fuel-efficient commuting solutions |
| Preference for indulging in recreational activities | |
| Adoption of sustainable solutions | |
| Opportunities | Supportive regulations for usage of electric bikes |
| Trend of all-terrain e-bikes |
The research offers an extensive analysis of drivers, restrains, and opportunities of the global electric bike market. Increase in consumer preferences for environment-friendly and fuel-efficient commuting solutions, preference for indulging in recreational activities, and adoption of sustainable solutions drive the growth of the global market. However, low battery capacity, high cost related to electric bikes, and high maintenance requirements hinder the market growth.
Outlining the opportunities that help top players and new extranets expand their electric bike market size in the next few years, the Lead Analyst for the Automotive & Transportation at Next Move Strategy Consulting, stated, “Supportive regulations for usage of electric bikes for ensuring sustainability, trend of all-terrain e-bikes, and indulgence in recreational activities in remote areas present opportunities in the market. In addition, surge in investments in R&D activities create new growth avenues for the market.”
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The report provides an extensive segmentation of the global electric bike market based on product type, conversion kit, battery, and geography. Based on product type, the report further divides the market into throttle on demand, pedelecs, and scooter & motorcycle. On the basis of conversion kit, the research further segments the market into mid drive, hub motor, and others. On the basis of battery type, the report classifies the market into lead acid, nickel-metal hydride (NiMH), lithium ion, and others.
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Based on geography, the research divides the global electric bike market into North America, Europe, Asia-Pacific, and RoW. North America contributed to the largest share of the market, and is projected to maintain the highest contribution throughout the forecast period. This is attributed to high adoption of electric bikes and surge in fitness-related activities in the region. However, Asia-Pacific is expected to register a steady growth by 2030, owing to the presence of key manufacturers and awareness related to eco-friendly transport solutions.
The report offers an extensive analysis of each region and country on the basis of each segment and its sub-segments using graphical and tabular formats. The insights are helpful for availing detailed analysis of the global electric bike industry and take steps to consolidate their position in the market.
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The research offers a detailed analysis of the global electric bike market players such as Accell Group, Derby Cycle Co. Ltd., Trek Bicycle Corporation, Jiangsu xinri e-vehicle Co. Ltd., Tianjin Golden Wheel Group Co. Ltd., Fuji-ta Bicycle Co. Ltd, Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, and Prodecotech LLC. They have adopted various strategies such as mergers & acquisition, expansions, new product launches, and others to avail a competitive advantage in the coming years.
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