E-bike Market Size Expected to Reach USD 92.19 billion by 2029 | Fortune Business Insights

Electric Bike Market to Display Moderate Growth During Forecast; Factors such as Increasing Acceptance as Mode of Transport and Rising Technological Advancements to Aid Growth. Pedego Announces Opening a New Facility Which Aims to Offer Bike Sales, Rentals, Services, and Accessories: Fortune Business Insights™

Pune, India., May 04, 2023 (GLOBE NEWSWIRE) -- The global electric bike market size is expected to witness elevated growth owing to rapidly charging batteries, cheaper alternative for transportation, and rising technological advancements during the forecast period. This information is provided by Fortune Business Insights™, in its report, titled, “Electric Bike Market, 2022-2029.” As per the report, the E-bike Market was valued at USD 35.69 billion in 2021. The global E-bike Market is projected to grow from USD 40.16 billion in 2022 to USD 92.19 billion by 2029, exhibiting a CAGR of 12.6% during the forecast period.

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Report Highlights:

Report Coverage Details
Forecast Period 2022-2029
Forecast Period 2022 to 2029 CAGR 12.6%
2029 Value Projection USD 92.19 billion
Base Year 2021
Market Size in 2022 USD 40.16 billion
Historical Data for 2018-2020
No. of Pages 165

Market Drivers & Restraints-

Rising Policy Support & Increasing Adoption of E-Bikes Regarding Municipal Bike-Sharing Systems to Augment Growth

The ecology of public transportation includes shared micromobility. As a flexible transportation alternative with minimal operating costs and overhead, shared electric micro-mobility can supplement higher-volume fixed-route transit systems by offering mobility services for numerous trips at a reduced per-traveler price. The North American Bikeshare and Scootershare Association (NABSA) released its annual report on the health of the shared micromobility business in August of 2021. According to the research, North Americans took 83.4 million journeys in shared micromobility cars in 2020, accounting for more than half of all trips in 2019. Over a third of all journeys were made on e-scooters. Pedal bikes and e-bikes accounted for over two-thirds of all travels. Despite all other trip patterns decreasing, the number of e-bike journeys grew from 7 million to nearly 10 million during the COVID-19 epidemic. As a result, the rising consumer acceptability of UBI will propel the electric bike market in the forthcoming years. Factors such as the rising development of cycling infrastructure in emerging economies coupled with rising support for e-bikes in the form of incentives will boost the electric bike market growth during the forecast period.

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By propulsion type, the market is segmented into pedal assist and throttle. The pedal assist segment is expected to hold the largest share of the electric bike market share due to its longer battery life, lower servicing needs, and its ability to switch to five pedal-assist modes.

Based on battery type, the market is segmented into lead-acid, lithium-ion, nickel-metal hydride, and others. The lead-acid segment is expected to account for a significant share owing to its low cost and easy recycling. Geographically, the market is classified into North America, Europe, Asia Pacific, and the Middle East, and Africa.

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Competitive Landscape-

Collaborative Efforts within Dominant Players Will Help Exert a Competitive Edge

The market contains a large amount of small, large, and medium-sized players that are striving to introduce the latest generation of products for retaining their existing consumer base. Players are also focused on deploying strategic tactics such as mergers & acquisitions coupled with collaborations to consolidate a combinative market share. Other players are also focused on expanding their business practices beyond their existing presence.  For example, in January 2022, Panasonic Automotive Systems announced a cooperative agreement with Totem USA. This agreement will bring Totem’s UL-certified eBikes to the U.S. market. Players are also increasing their investments in R&D departments to introduce novel products within their offerings.

Regional Insights-

Rising E-bike Sales to Augment Growth in North America

In 2020, Asia Pacific was worth USD 8.72 billion, with China accounting for the majority of the market share. The dominance is ascribed to factors such as substantial cycling infrastructure in established and emerging nations such as China and Japan, high automobile and public transport congestion, and growing stringency of pollution laws for e-bikes.

The market in Europe is projected to develop significantly. In July 2021, the Heinrich-Böll-Stiftung European Union released the second edition of the European Mobility Atlas. According to the research, electric moped producers and parts are operating in 23 of the EU's 27 member nations. Roughly 900 small and medium companies (SMEs) employ around 120,000 people and invest more than one billion euros in research and development. The market in North America is also projected to develop rapidly. According to NABSA, the number of bike-share systems that use electric bikes has grown from 28% in 2019 to 44% in 2020. Several cities, including Washington, D.C., New York, and San Francisco, have reduced speed restrictions, blocked automobile lanes, and built dedicated bike lanes. The rise in electric moped sales can be ascribed to these causes.

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Report Coverage:

The report contains a detailed approach by encompassing critical factors such as leading companies, product types, and all possible segments and sub-segments during the intended forecast period. Additionally, the report also covers the future market trends coupled with ongoing developments. Also, factors such as market drivers, restraints, and opportunities & threats for the market are also mentioned.

A list of prominent Electric E Bike manufacturers operating in the global market:

  • Giant Bicycles (Taiwan)
  • Accell Group (Netherlands)
  • Robert Bosch GmbH (Germany)
  • Pedego Electric Bikes (U.S.)
  • Panasonic Corporation (Japan)
  • Bionx International Corporation (Canada)
  • Trek Bicycle Corporation (U.S.)
  • Shimano Inc. (Japan)
  • VanMoof (Netherlands)
  • Rad Power Bikes (U.S.)

Notable Industry Development:  

  • July 2021: Pedego announced opening a new facility in Bethesda. This facility will offer a wide range of bike sales, rentals, services, and accessories.
  • September 2020: Sparta, a bicycle brand operating under the Accell Group, introduced Sparta d-burst, a powerful new speed pedelec. D-burst is available as both e-bike and speed pedelec. Moreover, it comes with a capacity of more than 1125 Wh.

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Table Of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
  • Key Industry Developments - Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • PEST Analysis
  • Technological Developments
  • Impact of COVID-
  • Global Electric Bike Market Analysis, Insights and Forecast, 0-0
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Propulsion Type
  •  Pedal Assist
  •  Throttle
    • Market Analysis, Insights and Forecast – By Battery Type
  •  Lead Acid
  •  Lithium ion
  •  Nickel-Metal-Hydride
  •  Others
    • Market Analysis, Insights and Forecast – By Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World
  • North America Electric Bike Market Analysis, Insights and Forecast, 0-0
    • Key Findings / Summary
    • Market Analysis – By Propulsion Type
  •  Pedal Assist
  •  Throttle
    • Market Analysis – By Battery Type
  •  Lead Acid
  •  Lithium ion
  •  Nickel-Metal-Hydride
  •  Others
    • Market Analysis – By Country
  • US
  • Canada
  • Mexico
  • Europe Electric Bike Market Analysis, Insights and Forecast, 0-0
    • Key Findings / Summary
    • Market Analysis – By Propulsion Type
  • Pedal Assist
  • Throttle
    • Market Analysis – By Battery Type
  • Lead Acid
  • Lithium ion
  • Nickel-Metal-Hydride
  • Others
    • Market Analysis – By Country
  • UK
  • Germany
  • France
  • Spain
  • Netherlands
  • Italy
  • Denmark
  • Belgium
  • Rest of Europe
  • Asia Pacific Electric Bike Market Analysis, Insights and Forecast, 0-0
    • Key Findings / Summary
    • Market Analysis – By Propulsion Type
  • Pedal Assist
  • Throttle
    • Market Analysis – By Battery Type
  • Lead Acid
  • Lithium ion
  • Nickel-Metal-Hydride
  • Others
    • Market Analysis – By Country
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
  • Rest of the World Electric Bike Market Analysis, Insights and Forecast, 0-0
    • Key Findings / Summary
    • Market Analysis – By Propulsion Type
  • Pedal Assist
  • Throttle
    • Market Analysis – By Battery Type
  • Lead Acid
  • Lithium ion
  • Nickel-Metal-Hydride
  • Others
  • Competitive Analysis
    • Key Industry Developments
    • Global Market Share Analysis (0)
    • Competition Dashboard
    • Comparative Analysis – Major Players
    • Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
  • Giant Bicycles (Taichung City, Taiwan)
  • Energica Motor Company SpA (Modena, Italy)
  • Accell Group (Heerenveen, Netherlands)
  • Robert Bosch GmbH (Gerlingen, Germany)
  • Derby Cycle (Cloppenburg, Germany)
  • Pedego Electric Bikes (California, US)
  • Panasonic Corporation (Osaka, Japan)
  • Mahindra & Mahindra Ltd (Mumbai, India)
  • Trek Bicycle Corporation (Wisconsin, US)
  • Shimano Inc(Osaka, Japan)

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