Pune, India., April 13, 2023 (GLOBE NEWSWIRE) -- The global electric bike market size is expected to witness elevated growth owing to rapidly charging batteries, cheaper alternative for transportation, and rising technological advancements during the forecast period. This information is provided by Fortune Business Insights™, in its report, titled, “Electric Bike Market, 2022-2029.” As per the report, the market was valued at USD 35.69 billion in 2021. The market is projected to grow from USD 40.16 billion in 2022 to USD 92.19 billion by 2029, exhibiting a CAGR of 12.6% during the forecast period.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 12.6% |
| 2029 Value Projection | USD 92.19 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 40,16 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 165 |
Drivers & Restraints-
Rising Policy Support & Increasing Adoption of E-Bikes Regarding Municipal Bike-Sharing Systems to Augment Growth
Factors such as the rising development of cycling infrastructure in emerging economies coupled with rising support for e-bikes in the form of incentives will boost the electric bike market growth during the forecast period. Additionally, increasing adoption of e-bikes regarding municipal bike-sharing systems coupled with rising awareness about health benefits will increase the footprint of the market. The rising adoption of shared micro-mobility activities will further fuel the growth of the market toward a higher boundary. However, a higher purchase cost will hinder the growth of the market during the forecast period.
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Segments-
Based on propulsion type, the market can be divided into pedal assist and throttle.
By battery type, the market can be divided into lead acid, lithium-ion, nickel metal hydride, and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Competitive Landscape-
Collaborative Efforts within Dominant Players Will Help Exert a Competitive Edge
The market contains a large amount of small, large, and medium-sized players that are striving to introduce the latest generation of products for retaining their existing consumer base. Players are also focused on deploying strategic tactics such as mergers & acquisitions coupled with collaborations to consolidate a combinative market share. Other players are also focused on expanding their business practices beyond their existing presence. For example, in January 2022, Panasonic Automotive Systems announced a cooperative agreement with Totem USA. This agreement will bring Totem’s UL-certified eBikes to the U.S. market. Players are also increasing their investments in R&D departments to introduce novel products within their offerings.
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Regional Insights-
Asia Pacific to Witness Dominance During Forecast due to Increasing Bicycle Infrastructure
Asia Pacific will hold the largest electric bike market share during the forecast period due to rising infrastructure for electric bikes in emerging economies such as China and Japan coupled with increasing higher vehicular and public transport congestion. Additionally, the rising stringency of emission regulations for gas-powered engines will further fuel the growth of the market.
Europe will occupy a significant market share in terms of global contribution owing to the rising number of e-bikes manufacturers in the region.
North America will witness considerable market share during the forecast period due to the rising adoption of e-bike deployment.
Report Coverage:
The report contains a detailed approach by encompassing critical factors such as leading companies, product types, and all possible segments and sub-segments during the intended forecast period. Additionally, the report also covers the future market trends coupled with ongoing developments. Also, factors such as market drivers, restraints, and opportunities & threats for the market are also mentioned.
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A list of prominent Electric Bike manufacturers operating in the global market:
- Giant Bicycles (Taiwan)
- Accell Group (Netherlands)
- Robert Bosch GmbH (Germany)
- Pedego Electric Bikes (U.S.)
- Panasonic Corporation (Japan)
- Bionx International Corporation (Canada)
- Trek Bicycle Corporation (U.S.)
- Shimano Inc. (Japan)
- VanMoof (Netherlands)
- Rad Power Bikes (U.S.)
Notable Industry Development:
July 2021: Pedego announced opening a new facility in Bethesda. This facility will offer a wide range of bike sales, rentals, services, and accessories.
Table Of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- PEST Analysis
- Technological Developments
- Impact of COVID-19
- Global Electric Bike Market Analysis, Insights and Forecast, 2018-202
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis, Insights and Forecast – By Battery Type
- Lead Acid
- Lithium ion
- Nickel-Metal-Hydride
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Electric Bike Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis – By Battery Type
- Lead Acid
- Lithium ion
- Nickel-Metal-Hydride
- Others
- Market Analysis – By Country
- US
- Canada
- Mexico
- Europe Electric Bike Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis – By Battery Type
- Lead Acid
- Lithium ion
- Nickel-Metal-Hydride
- Others
- Market Analysis – By Country
- UK
- Germany
- France
- Spain
- Netherlands
- Italy
- Denmark
- Belgium
- Rest of Europe
- Asia Pacific Electric Bike Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis – By Battery Type
- Lead Acid
- Lithium ion
- Nickel-Metal-Hydride
- Others
- Market Analysis – By Country
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World Electric Bike Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis – By Battery Type
- Lead Acid
- Lithium ion
- Nickel-Metal-Hydride
- Others
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis (2021)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
Continued...
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