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Global E-Bike Market to Reach US$ 39,489.5 Million by 2028, Says Coherent Market Insights (CMI)

SEATTLE, Aug. 24, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global e-bike market was valued at US$ 18,223.4 Mn in 2020 and is expected to exhibit a CAGR of 10.4% during the forecast period (2021-2028).

Key trends and analysis of the Global E-Bike Market:

The adoption of e-bike among consumers is rapidly increasing. For instance, in 2020, about 9700 thousand units of e-bikes were sold across the globe, according to Coherent Market Insight analysis. The growth of the global e-bike market is majorly attributed to the increasing launches of the e-bikes. For instance, in October 2020, Giant Bicycles, a Taiwanese based bicycle manufacturer launched Trance X Advanced Pro 29, an advanced electric bike equipped with flip-chip feature that allows rider to adjust frame geometry. In addition to this, in September 2020, Sparta NL, a Dutch based bicycle manufacturer launched d-burst, an electric bike having range up to 203 km in single charge on eco mode. The Sparta bikes offers D-Series bikes in three variants having battery capacity of 400 Wh, 500 Wh, and 625 Wh. The e-bike manufacturers across the globe are launching electric bikes rapidly to meet the consumer demands.

The electric bikes are easier way to commute in the city compared to the public transport. E-bikes are energy efficient and emission free way of transportation.

However, certain factors such as high initial cost of e-bikes can hamper growth of the global e-bike market. In addition to this, e-bike requires a charging time of about 3.5 to 6 hours.

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Key Market Takeaways:

The global e-bike market was valued at US$ 18,223.4 Mn in 2020 and is expected to reach US$ 39,489.5 Mn by 2028, exhibiting a CAGR of 10.4% between 2021 and 2028.

Among regions, Europe held a dominant position in the global e-bike market in 2020 and is expected to retain its dominance throughout the forecast period due to the growing adoption of e-bikes among the European countries. For instance, in 2020, about 1140 thousand and 340 thousand e-bikes in terms of volume were sold in the Germany and France respectively, according to the Coherent Market analysis.

Among type, city bike segment held a dominant position in the market in 2020 and is expected to retain its dominance throughout the forecast period 2021-2028. This is owing to rapid adoption of e-bikes due to several advantages such as low cost and zero emissions. For instance, in 2020, about 4600 thousand city e-bikes in terms of volume were sold across the globe, according to the Coherent Market Analysis in 2020.

Competitive Landscape:

Major players operating in the global e-bike market include Accell Group, BionX, Bosch, Derby Cycle AG, Easy Motion, Electric Bike Technologies LLC, Giant Bicycles, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Pedego, Stromer, Superpedestrian, Trek, and Yadea Technology Group Co. Ltd.

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Market Segmentation:

  • Global E-Bike Market, By Type:
    • Mountain Bike
    • Road Bike
    • City Bike
    • Cargo Bike
    • Others
  • Global E-Bike Market, By Battery Type:
    • Lead Acid
    • Nickel-cadmium
    • Nickel-metal Hydride
    • Lithium-ion
  • Global E-Bike Market, By Motor:
    • Hub Motor
    • Mid Motor
  • Global E-Bike Market, By Operation Mode :
    • Battery/Peddle Operated
    • Throttle Operated
  • Global E-Bike Market, By Region:
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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