Growth opportunities in the E-Bike Market look promising over the next six years. This is mainly due to their lower maintenance cost, escalating health concerns which include high prevalence of diabetes and cardiovascular diseases, and the growing demand for eco-friendly transportation.
E-Bike Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The consequential driver responsible for the stimulation of the global E-Bike Market includes their low servicing cost. For example, the increasing price of fuel is one of the major concerns throughout the world, which is accelerating the market demand. This is because these bikes help to save hundreds of dollars spent on gasoline per year. Also, the benefit of subsidies offered by the Indian government on the purchase of electronic bikes further strengthens the market growth. In accordance with the Vox Media, LLC and Taylor and Francis Group, private and public transportation got disrupted due to the widespread outbreak of the coronavirus. A specific population of London, New York, and Paris acquired these bikes with the launch of new lanes to encourage e-vehicles, bolstering the market growth. Moreover, the augmenting demand for environment-friendly transportation in society and the increasing apprehension for sustainable resource utilization such as oil (petroleum) and natural gas will supplement the market share. The expanding apprehension towards healthcare led by the rising incidences of chronic diseases like cardiovascular and diabetes owing to the excessive discharge levels from petrol and diesel vehicles also supports the market growth.
Furthermore, the endorsement of these bikes across sectors, including logistics across logistics and e-bike rental services, has resulted in a swift escalation of the market, thereby bolstering the market growth. The rising inclination towards fitness has raised the demand for e-bikes, and cycling has paved the way for market growth. However, the bike needs to be recharged after every 150 km, which takes a lot of time compared to the gasoline vehicles, which can be refilled in minutes. Moreover, it is not possible to calculate that how much you can ride. In addition to it, the high cost of these bikes due to the high price of batteries will hamper the market size.
Class Segment Drivers
Based on the class, the market is segmented into class-I, class -II, and class-III. Among all, class-III is expected to lead the market over the forecast period. This is attributed to the expansion in interest for a faster e-bike for sports and other activities. Leading market players are also emphasizing more on the production of these bikes, which is supplementing their demand. For instance, Yamaha, in June 2020, introduced its new Civante class-III road e-bike, which will help to fulfill the demand of consumers.
E-Bike Market’s leading Manufacturers:
- MERIDA BIKES
- Pon
- Bionx International Corporation
- ITALJET SPA
- JIANGSU XINRI E-VEHICLE CO., LTD.
- Accell Group
- Robert Bosch GmbH
- Giant Bicycles
- Pedego Electric Bikes
- AIMA TECHNOLOGY CO., LTD.
- Derby Cycle
E-Bike Market Segmentation:
Segmentation by Battery Type
- Lithium-Ion
- Lithium-Ion Polymer
- Lead Acid
- Others
Segmentation by Speed
- Up to 25kmph
- 25-45Kmph
Segmentation by Class
- Class-I
- Class-II
- Class-III
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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