New York, US, June 14, 2023 (GLOBE NEWSWIRE) --
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “E-Bikes Market Information by Type, Battery, Frame Material, Consumer Group, and Region - Forecast till 2030", The global market for e-bikes can expect to expand from USD 49.52 billion in 2022 to USD 84.26 billion in 2030, at a rate of 7.89% from 2022 to 2030.
E-Bikes Market Overview
Electric bikes are a convenient, adaptable, environmentally responsible, and stylish form of transportation. They are viewed as the best replacement for scooters, smart cars, and public transportation by consumers. Due to their lower size, ability to travel farther on a single charge, and positive effects on health, e-bikes can help reduce traffic congestion. These elements contribute to the global increase in the popularity of electric motorcycles.
The market is anticipated to grow as a result of factors including the implementation of government regulations to promote the use of electric bikes, consumer preference for using e-bikes as an eco-friendly & efficient commute solution, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity.
E-Bikes Market Competitive Landscape:
The renowned companies active in the market for e-bikes include
- Accell Group N.V.
- Pon Bike
- Merida Industry Co. Ltd
- Giant Manufacturing Co. Ltd
- Yamaha Motor Corporation
- Among others.
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February 2023
The aim of the recent partnership between Estonian e-bike manufacturer Ampler and Ku Mobility Group is to "strengthen their position in the micro-mobility industry and to continue making emotive zero-emission commuting accessible for everyone."
Ampler will continue to concentrate on its e-bike manufacturing activities while joining group business units Comodule, an e-scooter manufacturer called ike, and Tuul, an electric scooter rental service.
Market USP Covered:
E-Bikes Market Restraints:
The usage of e-bikes is prohibited in China's main cities and is expensive, which restrains the market's expansion. The good news, however, will be the innovation in battery technologies and bicycle infrastructure is anticipated to provide profitable opportunities for the expansion of the electric bike market.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 84.26 billion |
| CAGR during 2022-2030 | 7.89% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Battery, Frame Material, Consumer Group, and Region |
| Key Market Opportunities | Growing electric vehicle infrastructure across the world |
| Key Market Dynamics | Supportive government initiatives Rising consumer awareness regarding environmental concerns |
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E-Bikes Market Drivers:
Many countries are launching programmes to reduce carbon footprints by promoting the use of bicycles, electric automobiles, and other forms of personal transportation. This tendency is also being fuelled by the growing understanding of the negative impacts of fossil fuel-powered cars. Governments are also concentrating on building bicycle-friendly roadways, which promote the use of bicycles as a means of transportation.
The industry's ongoing technological improvements are another factor contributing to the increase in demand for e-bikes. For example, connected e-bikes have a SIM module that enables them to send and receive data through the cloud even when they are not connected to a smartphone. Additionally, these motorcycles come equipped with remote diagnostics, built-in navigation, anti-theft systems, social media connectivity, and automatic emergency calls.
Outside of Europe as well, e-bikes are quite well-liked in nations like China and Japan. One of the key factors driving e-bike growth and use globally is the increased demand for them as sporting equipment. The advantages for the environment, less road congestion, and better health are further major aspects. Important manufacturers are focusing on enhancing the whole user interface by designing and producing bicycles that can connect with the rider's smartphone and deliver real-time information on the speed and battery status as a result of ongoing technological advancements. Accell Group and Giant Manufacturing Co. are two examples of these manufacturers. The aforementioned are therefore expected to fuel market expansion over the course of the forecast timeframe.
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E-Bikes Market COVID 19 Analysis
The COVID-19 pandemic significantly affected the e-bike sector since there were less global commercial operations and orders for stay-at-home products. Global industry leaders worked hard to restructure their production and supply chains to make room for the delivery of essential medical goods.
The outbreak led the automakers to abandon major vehicle shows and racing competitions in 2020 and instead concentrate on other outlets like digital premieres.
However, after COVID-19, a number of producers made significant decisions and stopped attending international trade shows in 2020. The pandemic scenario is becoming better, but the global market is recovering and is expected to remain in the growth stage for the duration of the forecast.
E-Bikes Market Segmentation
By Type
The several e-bike models available on the market include throttle control and pedal-assist models. The pedal-assist e-bikes sector took the lead in 2021, accounting for roughly 50% to 60% of the market revenue for e-bikes. Riders may cycle more rapidly and easily on e-bikes with pedal assistance because they generate more power from the motor. The market for pedal-assisted e-bikes is expected to grow as young people's demand for them increases.
For instance, two new e-bike models from EMotorad were unveiled during a gathering in January 2023. The company has revealed its exclusive Elite line, which features the exorbitantly priced Desert Eagle and Nighthawk. The e-bikes are designed for use in congested places with heavy traffic, like Bengaluru and Gurgaon, especially during rush hour.
By Battery
Lithium-ion, sealed lead acid, and other types of batteries are included in the market segmentation for e-bikes. According to market predictions, sealed lead acid batteries dominated the market in 2021, while lithium-ion batteries are expected to develop at a quicker rate between 2022 and 2030.
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By Frame Material
Carbon fibre, carbon steel, aluminium, aluminium alloy, and other materials are included in the market segmentation for e-bikes based on frame material. With a contribution to the e-bikes market revenue of roughly 50–60% in 2021, the carbon fibre e-bike category had the lion's share. E-bikes made of carbon fibre have a number of advantages, including lightweight, fewer accidents, and increased speed, which are likely to increase demand and propel market growth.
By Consumer Group
Men, women, and kids are included in the consumer group-based segmentation of the e-bike market. The majority of the e-bike market revenue in 2021 came from the women's and kids' categories, which contributed between 30 and 40%. As more women and kids adopt healthy lifestyles, there is a rising demand for e-bikes for them. These bikes are also widely utilised on hills and other challenging terrain. It is anticipated that young people's increased desire for women's and kids' e-bikes will drive market growth.
E-Bikes Market Regional Insights
In 2021, the Asia-Pacific E-Bikes market was valued at USD 19.78 billion, and over the study period, it is anticipated to increase at a CAGR of 43.10%. This is explained by the presence of numerous large, powerful corporations and the area's rapid development of the infrastructure for electric vehicles. Numerous technical developments are taking place in the Asia Pacific region, combined with a charging infrastructure that is constantly expanding. Many notable companies are present in the area, including Yadea Group Holdings Ltd., Yamaha Motor Company, and Aima Technology Group Co. Ltd. It is projected that the rise would be further fuelled by expanding government initiatives and a growing demand for environmentally friendly transportation.
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