Electric Bikes Market Report 2024 – By Size, Growth And Trends, Industry Share, Forecast To 2030

Electric Bikes Market

Rise in fuel costs, growth in interest in cycling as fitness & recreational activity, consumer inclination toward uses of e-bikes as eco-friendly

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, July 25, 2024 /EINPresswire.com/ — The 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐁𝐢𝐤𝐞𝐬 has an integrated electric motor, pedals, and rechargeable batteries for forwarding propulsion. E-bikes allow commuters to travel greater distances and at higher speed than conventional bicycles. They are less expensive than electric scooters, motorcycles, and mopeds, and do not require insurance or a license. E-bike is an upcoming technology that has already gained traction in various countries, including the U.S., Netherland, China, India, and Japan. However, the e-bike industry overall is still in an early stage of development with significant room for growth across the world.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰:

𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐛𝐢𝐤𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟒𝟎,𝟑𝟏𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗, 𝐚𝐧𝐝 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟏𝟏𝟖,𝟔𝟓𝟕 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟎.𝟓% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟎 𝐭𝐨 𝟐𝟎𝟑𝟎.

Rise in fuel costs, growth in interest in cycling as fitness & recreational activity, consumer inclination toward uses of e-bikes as eco-friendly & efficient solutions for commute, and implementation of government regulations to encourage the use of electric bikes propel the growth of the global electric bikes market. However, ban on use of e-bikes in major cities of China and high cost of e-bikes hinder the market growth. On the contrary, improvement in bicycling infrastructure & battery technology is projected to open lucrative opportunities for the market players in the future.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

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.

By product, the market is categorized into pedelecs, speed pedelecs, throttle on demand, and scooter & motorcycle. The scooter & motorcycle segment accounted for the highest revenue in 2019, as scooter & motorcycle aid in significantly reducing of carbon dioxide (CO2) emission and noise pollution. However, the throttle on demand segment is anticipated to witness highest CAGR of 14.0% during the forecast period, owing to increase in popularity of throttle operated electric bicycles among commuters.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

By battery type, the market is categorized into lead acid battery, lithium ion (Li-ion), and others. The lithium ion (Li-ion) segment accounted for the highest revenue in 2019. The growth is attributed to their light in weight, high capacity, and also shown a sharp decline in price in recent years.

Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

By region, the market across LAMEA, followed by North America is estimated to manifest the highest CAGR of 14.0% from 2020 to 2030, due to series of initiatives taken by private companies, local governments, and federal officials to promote the adoption of an electric vehicle. However, the global electric bikes market size across Asia-Pacific held the lion’s share in 2019, accounting for around two-thirds of the market, owing to increase in initiatives for environmentally friendly vehicles & bikes and the development of related infrastructure from several governments such as India.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬:

Asia-Pacific dominates the market, in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global electric bike market share in 2019. However, Mexico is expected to grow at a significant rate during the forecast period, owing to series of initiatives taken by private companies, local governments, and federal officials to promote the adoption of electric vehicle

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Electric Scooter and Motorcycle Market –

Electric Vehicle Market –

Electric Vehicle Motor Market –

Electric Ships Market – https://www.prnewswire.com/news-releases/electric-ship-market-to-reach-23-8-billion-globally-by-2032-at-18-0-cagr-allied-market-research-301915936.html

David Correa
Allied Market Research
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