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(India.CityRegions.Com, June 30, 2021 ) Global E-bikes Market was valued at US$ 24.05 Bn in 2020, estimated to reach US$ 71.50 Bn in 2027 with a CAGR of 12.77% from 2021-2027.
E-bikes is defined as a bicycle with an integrated electric motor drive
mechanism and battery that produces power for causing/assisting propulsion. Various types of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes which produce power to completely drive the bike using throttle.
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The increase in urbanization is one of the key drivers for the global E-bike market. Urban population throughout the world is increasing at higher pace. For instance, As per the United Nations Reports 2018, around 68% of the global population would reside in urban areas by year of 2050. Hyper-urbanization in some countries is hindering the city traffic by raising traffic congestion, parking issues, high travel cost & delays in vehicle movement during traffic jams. Hence, the use of electric-bikes can reduce the number of vehicles on the road & result in fewer traffic jams.
Some prominent players are discussed in this report such as Giant Bicycles Co. Ltd, Merida Industry Co. Ltd, Riese & Muller, Yamaha Bicycles, Cannondale Bicycle Corporation, Kalkhoff, VanMoof BV, Coboc, Ampler Bikes, Cowboy, etc.
Impact of COVID-19 on Market
COVID-19 has positively impacted the growth of the Global E-Bike Market. Due to the COVID-19 outbreak, commuters are mostly avoiding public transportation. These bikes are considered as a safe, convenient, and affordable alternative to public transportation. Also, as compared to the other transportation systems, e-bikes are cheaper, easier to charge & do not require huge investments in supportive infrastructure which is expected to drive the sales of e-bikes market.
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In August2019, Merida Industry Co. Ltd had invested 18 million Euro (USD 20.15 Million) in Europe. The aim of this investment is to expand production of E-bike in Europe. According to the information provided by Merida Industry, the multi million Euro investment will raise annual output up to 90,000 units by 2022.
On the basis of product, market is segmented into Pedelecs, Speed Pedelecs, Scooter and Motorcycle.
On the basis of drive mechanism, market is segmented into Hub motor, Mid-drive, and Others.
On the basis of battery type, market is segmented into Lead acid, Lithium ion (Li-ion), and Others.
• Speed Pedelecs
By Drive Mechanism
• Hub motor
By Battery Type
• Lead acid
• Lithium ion (Li-ion)
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
Based on the region, market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America is fastest growing market, due to the increase in urbanization and traffic congestion have discouraged people from using a car as motorized transportation. As an alternative, many people now wish to use e-bikes for the daily commute in this region. Also, APAC region is expected to be the largest market. In this region, China, India, Japan, and Taiwan are potential markets due to growing e-bike sales in these countries.
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