Global eBikeMarket: By Propulsion Type (Pedal-assisted, Throttle-assisted), By Battery Type (Lithium-ion Battery, Lead-acid Battery), and Geography, and Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)—Forecast till 2028

Description

Market Overview:

The global e-bikes market was valued at USD 17.05 billion in 2022 and is projected to expand at a CAGR of 14.5% from 2023 to 2030.E-bikes are trustworthy and environmentally friendly. Joining the comfort of a car with the pleasure of riding, they offer an exceptional mode of transportation, chiefly useful for relaxation activities. E-bikes are quiet, emit no carbon emissions, propose a cost-effective way to travel, save space, and encourage good health. The key factors propellingthe market growth include increased fitness awareness, rising environmental concerns, growing traffic congestion, and government initiatives supporting cycling.

Market Size for Global eBike Market on the Basis of Revenues in USD Bn , 2018-2023

Source: Maven Market Research

What Factors are Leading to the Growth of the Global eBike Market:

• The eBike market is projected to expand owing to different factors, including government regulations motivating the adoption of e-bikes and an increasing consumer preference for e-bikes as an eco-friendly and fuel-efficient commuting option.
• Global requirement for e-bikes is growing swiftly as customers view them as an eco-friendly commuting solution, further aided by increasing fuel prices. Therefore, government bodies in different cities across the world are initiating the construction of bicycle highway lanes precisely for e-bikes.
• The growing demand for electric bikes in the transportation sector, both in developed and developing countries, is anticipated to present different growth opportunities for players in the eBike market.

Which Industry Trends have been Fueling the Growth?

Increase in Cost of Fuel Drives the Demand For eBike:The rise in fuel costs over the past decade has propelled more individuals to buy bicycles for their daily commutes. This increase in fuel prices is greatly due to an increase in crude oil costs, which are mainly controlled by the Organization of the Petroleum Exporting Countries (OPEC). For instance, in September 2021, an amalgamation of growing vehicle requirements and supply shortages surged crude oil prices to USD 79 per barrel. Additionally, prices are projected to continue growingowing to the restricted availability of crude oil in the future.

Improved Policy Support for Infrastructure Development to Drive Growth: Different European countries, comprising Germany, France, and Spain, have prioritized the construction of e-bike infrastructure and are growing annual expenditures to accelerate the development of a connected and safe bike network. This effort aids remove barriers to cycling and improves opportunities for electric bike producers. Thereby, increased legislative assistance is projected to propel the expansion of the electric bike market.

What is the Current Structure for Global eBikeMarket?

By Propulsion Type, Pedal Assisted Segment Dominated the Largest Market Share

the pedal-assisted segment held the largest revenue share at 57.8%. These e-bikes offer more power from the motor, enabling riders to move speedier and pedal with ease, making them specificallyprevalent for hilly and steep routes. The growingrequirement for pedal-assisted e-bikes among young individuals is projected to further propel market growth.

By Battery Type, Lead-Acid Battery Segment Accounted the Largest Market Share

The lead-acid battery segment registered for nearly 55.2% of the revenue share and is anticipated to rise at the fastest CAGR of 15.0% over the forecast period. This growth is accredited to the benefits of lead-acid batteries, comprising low cost, and robustness. However, their implementation is anticipated to decline in the coming years owing to their bulkiness and rapid discharge rate.

By Region, North America Dominated the Largest Market Revenue Share

In North America, city e-bikes are projected to increase at the highest CAGR due to the growing adoption of electric bikes for commuting, regeneration, and fitness activities. Trekking and mountain biking are becoming prevalent off-road sports, propelling the requirement for e-MTBs. Crossroad biking is also gaining popularity, particularly among females and kids. Different cyclist organizations, including the League of American Wheelmen, IMBA, and Bike Centennial, are initiating projects to motivate participation in these sports. Additionally, to decrease emissions, North American governments are offering encouragements for buying cargo e-bikes. These factors are anticipated to foster the requirement for e-bikes in North America in the forecast period.

Competitive Analysis

Key players in the e-bike market employ different growth strategies, comprising geographic expansion and new product launches, to foster their market presence. In addition, they concentrate on refining their prevailing product lines and growing brand visibility to stay competitive. Leading organizations also employ in initiatives including mergers and acquisitions, agreements and contracts, and partnerships with technology firms to further their market position.Some of the major player includes Accell Group N.V.; Aima Technology Group Co. Ltd.; Giant Manufacturing Co. Ltd.; Merida Industry Co., Ltd.; Pedego Electric Bikes; Pon.Bike; Rad Power Bikes Inc.; Trek Bicycle Corporation; Yadea Group Holdings Ltd.; Yamaha Motor Company

Market Segmentation

Global eBike Market, by Propulsion Type

• Pedal-assisted
• Throttle-assisted

Global eBike Market, by Battery Type

• Lithium-ion Battery
• Lead-acid Battery

Global eBikeMarket, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Russia
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East & Africa

Market Players Included

• Accell Group N.V.
• Aima Technology Group Co. Ltd.
• Giant Manufacturing Co. Ltd.
• Merida Industry Co., Ltd.
• Pedego Electric Bikes
• Bike
• Rad Power Bikes Inc.
• Trek Bicycle Corporation
• Yadea Group Holdings Ltd.
• Yamaha Motor Company