Description
E-Bike Market
E-Bike Market to surpass USD 30169.61 million by 2031 from USD 20160.26 million in 2021 at a CAGR of 4.11% within the coming years, i.e., 2021-31.
Product Overview
E-Bike are bicycles with battery-powered assistance that comes through pedaling and, in some cases, a throttle. Electric bike is a bicycle with a combined electric motor drive apparatus and battery, which produces power for causing or secondary impulsion. When you drive the pedals on a pedal-assist e-bike, a small motor involves and gives you a lift, so you can vigor up hills and tour over rough terrain without gassing yourself. In addition to the pedal-assist component, some e-bikes come with a throttle that engages the motor with the press of a button. These belong to a distinct class of e-bike that, obviously, doesn’t offer a pure cycling experience; they’re also illegal in some regions.
Market Highlights
E-Bike Market is predicted to project a notable CAGR of 4.11% in 2031
The Growth of the market is directly related to the demand of E-Bike and awareness towards the environment. Features such as application of government policies to boost the use of electric bikes, consumers leaning toward uses of e-bikes as an eco-friendly & effective resolution for travel, upsurge in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth.
Recent Development
In October 2020, Giant Manufacturing launched the Trance X Advanced Pro 29, a full-composite trail bike.
In September 2020, Sparta (a subsidiary of Accell Group N.V.) announced d-Burst, a powerful new speed pedelec.
E-Bike Market: Segments
Lithium-Ion batteries segment to grow with the highest CAGR during 2021-2031
E-Bike Market is segmented by Battery type into Li-Ion, Li-Ion Polymer, Lead Acid, Other. The lithium-ion battery segment is estimated to account for the largest share of the E-Bike market due to lithium-ion batteries’ various benefits. For instance, they are eco-friendly, have a better life cycle, and create more power to weight ratio than other battery types. These batteries have also shown a sharp decline in price in recent years. The effort of e-bike manufacturers to yield lightweight e-bikes has also resulted in the higher adoption of lithium-ion batteries.
Mid-motor Segment to grow with the highest CAGR during 2021-2031
The majority of the European and North American e-bike manufacturers are everchanging from Hub to Mid Motors owing to Mid Motors’ advantages, such as lighter weight, smaller size, lesser noise, and unified combination with bike frames. Thus, the Mid-Motor segment is predictable to register a higher CAGR during the forecast period.
E-Bike Market: Market Dynamics
Drivers
Trend towards connected E-Bike
With the growing acceptance of e-bikes, there are technological progressions in the ground of e-bikes. The connected e-bike is one such development, wherein the SIM unit allows the e-bike to receive and data to and from the cloud without a connected phone. Some of the important features offered by the connected e-bike include automatic emergency calls, social media connection, integrated navigation, an anti-theft system, and remote diagnostics. Bosch is one of the main players in the E-Bike market, offering connected e-bike solutions.
Greener and Cleaner Mode of Transportation
Swift urbanization, awareness in people regarding environment, and traffic mobbing in cities are among the factors expected to drive the growth of the demand for e-bikes over the forecast period. E-bikes are measured as a convenient, safe, and reasonable alternative to public transportation. Most countries are working toward increasing e-bikes using both subsidies and regulatory changes to reduce the pressure on public transportation systems. Also, compared to other transport systems, e-bikes are cheaper, easier to charge, and do not need huge reserves in helpful infrastructure. Therefore, an increase in demand for e-bikes is being observed.
Restraints
International trade policies and regulations
Due to Europe’s anti-dumping policy, the region was jammed initially as it could not meet the demand for mechanisms. Nevertheless, to overcome this impact, Europe abstracted its emphasis towards developing countries and increased its imports from Thailand, Turkey, Indonesia, and Taiwan, to achieve the demand for e-bikes and related components. Due to the trade war between the US and China, e-bike sales were impacted in the US. However, in November 2019, a new contract was signed between the US and China to end the e-bike trade war.
Impact of the COVID-19 on the E-Bike Market
The world market for E-Bike Market has been severely affected by the outbreak of the COVID19 pandemic. The suspension of industrial activity affected the E-Bike Market due to weak consumer confidence, store closures, and depletion of consumer incomes. Global GDP has changed consumer behavior and reduced demand for E-Bike. To curb the spread of the coronavirus, the governments of several countries have imposed travel restrictions that severely affect the supply of raw materials for coffee makers. The market is projected to resume its business after the end of the curbs-on movement.
E-Bike Market: Key Players
Lucky Jack, LLC (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Accell Group
Derby Cycle
Fuji-ta Bicycle Co., Ltd.
Giant Manufacturing Co., Ltd.
Jiangsu Xinri E-Vehicle Co., Ltd.
Mahindra & Mahindra Ltd. (GenZe)
Prodecotech, LLC
Tianjin Golden Wheel Group Co., Ltd.
Trek Bicycle Corporation
Yamaha Motor Co. Ltd.
Other prominent players
E-Bike Market: Regions
E-Bike Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Europe is estimated to contribute the largest share of the E-Bike Market during the forecast period. The European market holds a major share of the global market. The market in the region is projected to register the highest CAGR during the forecast period. Asia Pacific is also estimated to expand at higher rate.
E-Bike Market is further segmented by region into:
North America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-United States and Canada
Latin America Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR- United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR-India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
E-Bike Market report also contains analysis on:
E-Bike Market Segments:
By Battery
Lithium-Ion,
Lithium-Ion Polymer,
Lead Acid,
Other
By Motor
Mid motor
Hub Motor
By Mode
Throttle
Pedal Assist
Others
By Usage
Mountain/Trekking,
City/Urban,
Cargo
Others
E-Bike Market Dynamics
E-Bike Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value chain of the Market
Market Drivers and Restraints
E-Bike Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 20160.26 million
Revenue forecast in 2031 USD 30169.61 million
Growth Rate CAGR of 4.11% from 2021 to 2031
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Class, Battery, Usage, Mode, and Region
Region scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co. Ltd.
