Electric Bike Market Growing at 12.2% CAGR by 2030 – User demand is Driving Growth
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Consumer inclination toward the use of e-bikes as an eco-friendly & efficient solution for commute is a key factor driving electric bike market revenue growth
VANCOUVER, BC, CANADA, January 23, 2023 /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. One such development is the linked e-bike, which uses a SIM module to transmit and receive information from and to the cloud without the need for a connected smartphone. A larger client base is attracted by the linked e-bikes sophisticated capabilities, which include integrated navigation, social media connection, an anti-theft system, and remote diagnostics.
The latest report, titled ‘Global Electric Bike Market,’ comprises a profound analysis of the fundamental parameters contributing to the global Electric Bike market scenario. The research report provides the reader with an in-depth interpretation of the Electric Bike market dynamics, including the crucial drivers, opportunities, threats, and challenges. The report also describes the key business strategies, demand and supply ratios, leading regions, and the renowned market players, in a nutshell, offering a futuristic outlook of the overall Electric Bike industry. The market intelligence report is a prototype of the 360° overview of the global Electric Bike industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
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Competitive Terrain:
The global Electric Bike industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The Leading Market Contenders Listed 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, Cowboy
Some Key Highlights From the Report
The pedal-assisted segment accounted for the largest revenue share in 2021. It facilitates a smoother ride while assisting with slopes, inclination, and rocky terrain, minimizing stress on joints. Additionally, riders may ride more precisely than on a standard bike. Furthermore, it encourages people to ride bikes who may not have done so otherwise owing to discomfort from their bodies. Riders can also use bikes for extended period without becoming physically exhausted which is boosting revenue growth of the segment.
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.
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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
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
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Report Highlights:
Besides offering a vivid depiction of the global Electric Bike business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2022-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Electric Bike Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Electric Bike Market Size Worth USD 76.43 Billion in 2030
