Jersey City, NJ, April 12, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global E-bikes Market Size, Share & Trends Analysis Report By Class (Class-I, Class-II, Class-III), Speed (Up to 25km/h, 25-45 km/h), Battery Type (Lithium-ion, Lithium-ion Polymer, Lead Acid), Mode (Pedal Assist, Throttle), Component (batteries, electric motors, frames with forks, wheels, crank gears, brake systems and motor controllers) , Motor Type (hub and mid), Usage (mountain, trekking, city/urban, cargo), Ownership (shared and personal)- Market Outlook And Industry Analysis 2031"
The global e-bikes market is estimated to reach over USD 102.64 billion by 2031, exhibiting a CAGR of 11.93% during the forecast period.
A bicycle equipped with an integrated electric motor drive mechanism and a battery that provides power for driving or assisting propulsion is known as an electric bike. Electric bikes range in power from those with a little motor to assist the rider's pedaling to more potent models that may be operated entirely with a throttle. The market is anticipated to grow as a result of factors including the implementation of government regulations to promote the use of electric bikes, consumer preference for using e-bikes as an eco-friendly & efficient commute solution, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity.
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The market's expansion needs to be improved by the high price of e-bikes and the ban on their use in China's major cities. Additionally, battery technology and bicycle infrastructure advancements are anticipated to present an attractive potential for expanding the electric bike market.
Recent Developments:
- In January 2022, Giant Bicycles announced a new partnership with Team Bike Exchange-Jayco. This partnership will open the door for the world's top cycling brand to return to competitive road racing at the UCI World Tour level.
- In March 2021, Cannondale had already announced the release of their Adventure Neo line of commuter e-bikes. The Adventure Neo line has four different models: an alloy frame, step-through design, Bosch driving system, and battery capacity ranging from 400 to 625Wh.
List of Prominent Players in the E bikes Market:
- A2B (London)
- Accell Group (Netherlands)
- AIMA Technology Group Co. Ltd.
- Amego Electric Vehicles Inc. (Canada)
- Bionx International Corporation (Canada)
- Derby Cycle
- F.I.V. E. Bianchi S.p.A. (Italy)
- Fuji-ta Bicycle Co., Ltd.
- GenZe (US)
- Giant Manufacturing Co., Ltd.
- ITALJET SPA (Italy)
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Karbon Kinetics Ltd (UK)
- Kawasaki Motors Corp. (USA)
- Mahindra & Mahindra Ltd. (GenZe)
- Merida Industry Co.Ltd. (China)
- myStromer AG (Switzerland)
- Panasonic Corporation (Japan)
- Pedego Electric Bikes (US)
- Pon.Bike (US)
- Prodecotech, LLC
- Rad Power Bikes (U.S.)
- Riese & Müller GmbH (Germany)
- Robert Bosch GmbH (Germany)
- Shimano Inc. (Japan)
- Solex Cycle North America Inc. (Canada)
- Specialized Bicycle Components, Inc. (US)
- Sporttechnik GmbH & Co. KG (Germany)
- Tianjin Golden Wheel Group Co., Ltd.
- Trek Bicycle Corporation
- VanMoof (Netherlands)
- Yadea Group Holdings Ltd.
- Yamaha Motor Company (Japan)
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E-bikes Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 38.79 Bn |
| Revenue forecast in 2031 | USD 102.64 Bn |
| Growth rate CAGR | CAGR of 11.93% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, Volume (Thousand Units) and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Class, Speed, Motor Type, Mode, Battery Type, Component, Usage, And Ownership |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The market for electric bikes (e-bikes) will expand faster thanks to increased shared micro-mobility usage. The ecology of public transportation includes shared micro-mobility. Shared electric micro-mobility, a flexible mode of transportation with minimal operating costs and overhead, can supplement higher-volume fixed-route transit systems by offering mobility services for numerous trips at a cheaper per-traveler cost. By avoiding strict auto emissions regulations, an increasing number of countries worldwide are promoting expanding the e-bike business. Reduced vehicle emissions of hazardous particles will help to clean the air. Various governments worldwide are promoting safer and cleaner modes of transportation to build a better and greener environment.
Challenges:
There currently needs to be more bike routes and bike lanes in developing nations like India and Taiwan, which is a barrier to the market for e-bikes. However, the high cost of e-bikes and their technical restrictions will slow the market's expansion. The laws and regulations governing international trade will be a significant barrier to the market's expansion rate.
Regional Trends:
The Asia Pacific region is anticipated to lead the global market for electric bikes. The Asia-Pacific region is forecast to stay popular with buyers of electric motorcycles and dominate the global industry. China and India, for example, have made significant contributions to the development of the APAC area. Electric bike use has increased in China, which has increased sales and impacted the expansion of the global market. The Indian government has promoted the usage of electric motorcycles and plans to convert all gasoline-powered cars and trucks to run on electricity.
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Segmentation of E-bikes Market -
By Class-
- Class-I
- Class-II
- Class-III
By Speed-
- up to 25km/h
- 25-45 km/h
By Battery type-
- Lithium-ion
- Lithium-ion Polymer
- Lead Acid
- Others
By Motor type-
- Hub
- Mid
By Mode-
- Pedal Assist
- Throttle
By Component-
- Batteries
- Electric Motors
- Frames With Forks
- Wheels
- Crank Gears
- Brake Systems
- Motor Controller
By Usage-
- Mountain
- Trekking
- City/Urban
- Cargo
- Others
By Ownership-
- Shared
- Personal
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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