New York, United States, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The Global E-bike Market Size was valued at $35.69 billion in 2021 and is expected to reach at a CAGR of 12.6% from 2022 to 2030; as per the latest research report published by Spherical Insights & Consulting. the Asia Pacific region has become the world leader in the e-bike market. Around 81% of market income is concentrated in the area, with China leading the pack with more than 90% of the world's e-bike production centered in the nation.
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The industry's ongoing technological improvements are another factor contributing to the increase in demand for e-bikes. For example, connected e-bikes have a SIM module that enables them to send and receive data through the cloud even when they are not connected to a smartphone. Additionally, these motorcycles come equipped with remote diagnostics, built-in navigation, anti-theft systems, social media connectivity, and automatic emergency calls. Leading provider of connected e-bikes in the market is Robert Bosch GmbH.
The throttle-assisted category is expected to grow at the highest CAGR of 14.6% over the projected time frame. Increased use of throttle-assisted e-bikes, which deliver power directly to the motor and does not require manual pedalling, is to credit for the growth of this market. E-bikes market was dominated by the pedal-assisted category, which accounted for more than 58% of the market.
It is predicted that the lithium-ion battery market would expand at a CAGR of 12.9%. from 2021 to 2030 It is anticipated that advantages including high performance, low weight, high charging-discharging efficiency, and high charge density will promote the use of these batteries and accelerate the segment's growth.
Recent Developments in The Global E-Bikes Market
- January 2022: Giant Bicycles announced a new collaboration with Team Bike Exchange- Joayco, which will make it the world leading cycling Brand.
- July 2021: Pedego opened a new facility in Bethesda Maryland which offers full range of B-bikes sales.
COVID-19 Impact on the Global E-Bikes Market
The first half of 2020 saw a sharp halt in market growth due to the COVID-19 pandemic outbreak. Lockdowns were put into effect all around the world, which resulted in the short-term closure of several manufacturing and assembly facilities. However, as the need to avoid using public transit during this time develops, more people are adopting bicycles. E-bikes are therefore considerably more in demand as a practical, safe, and easily accessible mode of mobility. The e-bike market is experiencing a notable increase in sales, which started before the COVID-19 issue but it rapidly increased as a result of the Pandemic-induced Lockdown.
The U.S E-Bike industry reacted positively to the COVID-19 pandemic.
Browse key industry insights spread across 120 pages with 82 market data tables and figures & charts from the report “Global E-bike Market Size, Share, Statistics Analysis, By Propulsion Type (Pedal and Throttle) By Application (City/Urban, Trekking and Cargo), By Battery Type (Lithium-ion and Lead-acid, Nickel Metal), By region (North America, Europe, Asia-Pacific, Middle East and Africa, South America), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents
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Global E-bikes Market, By Propulsion
The throttle-assisted category is expected to grow at the greatest CAGR of 14.6% over the anticipated time frame. In 2021, the pedal-assisted segment dominated the market and held more than 58% of the market share.
Global E-bikes Market, By Battery Type
In 2021, the lead acid market category had the biggest market share. The growth of the market can be attributed to the many benefits that lead-acid batteries offer, such as their low cost and long duration.
From 2022 to 2030, the lithium-ion battery market is projected to expand at a CAGR of 12.9%. High performance, light weight, high charging-discharging efficiency, and high charge density are among the advantages that are anticipated to promote the use of these batteries and promote the segment's growth.
Global E-bikes Market, By Power
The market for power supplies of less than or equal to 250W is anticipated to grow at a CAGR of 14.1% during the study period. E-bikes with a power output of less than or equal to 250W can be utilised for recreation and exercise both in urban areas and in uphill and hilly region.
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Global E-bikes Market, By Application
The trekking market provided around 49.6% of total revenue in 2021. The use of e-bikes for leisure and recreational activities is expanding quickly.
Global E-bikes Market, By Region
The e-bike market in the Middle East and Africa is still in the early stages of adoption and is expected to develop at the quickest rate in the future years. The rapid development of micro-mobility infrastructure in the area is the main factor causing the region to see massive growth.
Due to the significant growth in the region's e-bike production and demand, the Asia Pacific region has become the world leader in the e-bike market. Around 81% of market income is concentrated in the area, with China leading the pack with more than 90% of the world's e-bike production centred in the nation.
Some key Points of the E-Bikes Market Report are:
An in-depth global E-bikes market analysis by the segments, along with an
analysis of trend-based insights and factors. Some of the major key players of E-Bikes are, Accell Group(Netherlands), Giant Bicycles(Taiwan), Robert Bosch GmbH(Germany), Panasonic Corporation(Japan), Trek Bicycle Corporation(U.S), Rad Power Bikes(U.S), Bionx International Corporation(Canada), Pedego Electric Bikes(U.S), VanMoof(Netherlands). The global market for E-bikes are drivers, restraints, opportunities, and challenges are all analyzed in the key impact factor analysis across geographies. Impact of COVID-19 on the global E-Bikes market.
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