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Market Size – USD 27.25 Billion in 2021, Market Growth – at a CAGR of 12.2%, Market Trends – Significant investments in research & development activities

VANCOUVER, BC, CANADA, November 10, 2022 /EINPresswire.com/ -- The global electric bike market size reached USD 27.25 Billion in 2021 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to latest analysis by Emergen Research. Technological development in electronic bikes is an important factor driving market revenue growth.Increasing E-bike parking places with fast chargers built into the sidewalk is driving the market revenue growth. Long-term bike parking spaces will be used for electric bicycles, both assisted and fully electric owing to charging terminals that have been incorporated into the sidewalk, these e-bike can be recharged electrically once it has been stopped. Technological advancement of E-bikes such as E-Bikes enabled with Internet of Things (IoT) devices is expected to drive market revenue growth. It provides benefits like whenever a bike is stolen it can be tracked, and the (head-up) display on the bike directs and communicates. Numerous technical developments are being made in the e-bike industry to provide more dependable and optimal solutions. 

Emergen Research’s latest market research report focuses on the global electric bike market, and the report provides in-depth analysis of each of its major segments. Reports about the global electric bike market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolioselectric bike industry projections and qualitative and quantitative assessments have been provided by the report's authors. The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global electric bike market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.

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Some Key Highlights From the Report
Mountain segment accounted for the largest revenue share in 2021. Without electric help, traveling by regular bicycle is more challenging, and an hour-long hike can be very tiring. Consequently, one of the biggest benefits of eMTBs is that they enable the elimination of performance disparities. E-bikes can make a trip to the mountain more pleasurable and less tiring. For instance, E-Mountain Bike Like Ausstech Super Z 26 M005 that make their drivers independent of lifts is currently very much in vogue. This allows for several daily rides of inventive trails which are driving revenue growth of the segment.

Lithium-ion segment accounted for the largest revenue share in 2021. Since lithium-ion batteries are now the most common in the market, they are found in more recent or newer models of e-bikes. With the highest range and endurance of any battery, lithium-ion batteries are optimized for both overall weight and energy. Li-ion battery types are perfect for large-capacity and low-power applications since they may be shaped into various forms or special areas. Except fast charging technology, which drastically reduces the time, a lithium-ion battery pack can be fully charged in under two to three hours. which is driving revenue growth of the segment. 

Market in Asia Pacific accounted for the largest revenue share in 2021. E-bikes are a convenient, inexpensive means of transportation in areas with high population densities such as China and India. E-bikes are also more popular in this area than traditional forms of transportation owing to their affordability, eco-friendliness, lightweight, and low power requirements. It is expected that other countries in the area, including Japan, South Korea, Taiwan, and Australia, will increase their share by promoting the advantages of e-bikes among customers. Furthermore, the presence of major companies and many key companies opening their branches in this region owing to its market's potential is driving market revenue growth of this region.

On January 22, 2022, The electric bicycle Urbansport was introduced in India by e-mobility firm VAAN Electric Moto Pvt., Ltd. The Urbansport, features 20-inch spoked wheels, a carrier that can hold up to 15 kg, an exposed electric motor, and a smart LCD that serves as both a source of all vital information and a remote for the front and rear lights. The vehicles, according to VAAN, have a pedal-assist range of 60 kilometers and a top speed of 25 kilometers per hour.

However, the report takes into account the current COVID-19 impact on the global economy and this particular business sector. The global Electric Bike market growth has been extensively hampered by the current economic situation triggered by the COVID-19 pandemic. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the Electric Bike industry. It offers an exhaustive analysis of the present and future effects of the pandemic on this business sphere. Moreover, the adverse effects of the coronavirus pandemic on the global Electric Bike market, as well as its fundamental segments, have also been elucidated in this report.

Major Players/Manufacturers profiled in the report are:

Accell Group, Giant Bicycles, Merida Bikes, Riese & Müller GmbH, Georg Fritzmeier GmbH & Co. KG, Yamaha Motor Corporation, Trek Bicycle Corporation, Cycling Sports Group, Inc., Ampler Bikes, and Cowboy.

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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2022-2030.

Emergen Research has segmented the global electric bike market on the basis of propulsion, application, battery type, and region:  

Propulsion Outlook (Revenue, USD Billion; 2019–2030)
Pedal Assisted

Throttle-assisted

Application Outlook (Revenue, USD Billion; 2019–2030)
Mountain

Trekking

City/Urban

Cargo

Others

Battery Type Outlook (Revenue, USD Billion; 2019–2030)
Lithium-ion

Lithium-ion Polymer

Lead Acid

Others

The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.

Regional Segmentation Covers:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Electric Bike market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Electric Bike market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

Research Report on the electric bike Market Addresses the Following Key Questions:

Who are the dominant players of the electric bike market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the electric bike market?

What are the key growth drivers and restraining factors of the electric bike market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the electric bike market and its key segments?

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Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs. Emergen Research also offers a country-wise customized report as per clients’ needs. 

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Electric Bike Market Size Worth USD 76.43 Billion in 2030

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