Electric Bicycle Market 2022 Global Industry Analysis by Type (Pedal Assist/Pedelecs, Power On Demand, Pedal Assist with Power On Demand), Battery Type (Sealed Lead Acid, Li-Ion Battery ), motor type (hub motor, mid-drive electric motor) – Forecast to 2030
The size of the e-bike market is expected to grow at a pace CAGR of 10.17% during the forecast period and should reach a value of $59 billion by the end of the forecast period. The market value was recorded at USD 25 billion during the historical forecast period.
Overview of the electric bicycle market
Electric bicycles and motorcycles have an integrated and electrically powered system. The method uses a rechargeable battery that can provide electricity to aid mobility. Electric bikes are becoming increasingly popular around the world due to their extended range and small motor, which makes them easier to transport. Cycling aficionados can benefit by increasing their pedaling power.
The major key players in the Electric Bicycle market are Giant Manufacturing Co., Ltd. (Taiwan), Derby Cycle, Easy Motion (USA), Accell Group NV (Netherlands), Merida Industry Co., Ltd. (China), Yamaha Motor Corporation (Japan), Mustache Bikes Bike (USA), and NYCeWheels.
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Bosch is a leading player in the e-bike industry, and it is one of the strongest companies in the industry. It recently introduced Smart Phone Hub, which makes it easy to connect e-bikes and cell phones. This helps cyclists get considerable support after and during their trip.
Pon Bike acquired Dutch e-cargo bike maker Urban Arrow, which was acquired in November of this year. The amount of money spent on the acquisition has not been revealed.
Segmentation of the electric bicycle market
Based on application, the global e-bike market has been segmented into adhesives, coatings, freight transport, city commuting, rural and urban environments, climbing and hiking.
On the basis of end users, the global e-bike market has been segmented into lithium-ion, polymer, and lead acid.
On the basis of product, the global electric bicycle market has been segmented into Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter or Motorcycles.
Based on the drive mechanism, the global e-bike market has been segmented into Hub motor, Mid-drive and others.
On the basis of battery type, the global electric bicycle market has been segmented into lead-acid, lithium-ion (Li-ion), and others.
Based on region, the global e-bike market has been segmented into North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa).
As a result, governments around the world are supporting and undertaking studies that could lead to an increase in the market for electric vehicles, especially electric bicycles. As the economy grows, urbanization also increases, which leads to increased traffic congestion. This is one of the main reasons why the market is turning to e-bikes over regular bikes.
The performance of major market competitors in each of the four key geographic regions is critical to the revenue generated by the e-bike industry. The Asia-Pacific market, the North American region, which encompasses the markets of the United States and Canada, European countries and the rest of the world are some of these regions. The e-bike market forecast predicts that by the end of the forecast period globally, the Asia-Pacific region will have emerged as a driving force in the overall market performance. Additionally, India and Taiwan, as well as Japan and Japanese markets, are emerging as potential growth markets for e-bikes.
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Additionally, to be competitive, e-bike manufacturers in North America and Europe are focusing on the mid-motor business sub-segment. The advantages, such as the lighter and smaller size, are the main reasons for this. The background noise generated by these motors is also reduced. As a result, this market sector in these locations is expected to grow at a reasonable compound annual growth rate.
TABLE OF CONTENTS
2.1 Definition 14
2.2 Scope of the study 14
2.3 Assumptions 14
2.4 Market structure 15
3 Research methodology
3.1 Research process 16
3.2 Primary research 17
3.3 Secondary research 17
3.4 Market Size Estimation 17
3.5 Forecasting model 19
4 Market dynamics
4.1 Presentation 20
4.2 Market Drivers 20
4.2.1 Strict government regulations and the emergence of environmentally friendly vehicles 20
4.2.2 Growing Demand for Electric Bikes Among Tourists 21
4.2.3 Better journeys with less physical effort 23
4.2.4 Increase in fuel prices 23
4.3 Restraint 23
4.3.1 High prices of electric bicycles and their batteries 23
4.3.2 Underdeveloped after-sales services 23
4.4 Opportunities 24
4.4.1 Proposed improvement of cycle path infrastructure 24
4.4.2 Emerging economies seek more opportunities for e-bikes 24
5 Market Factor Analysis
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