Westford, USA,, April 12, 2023 (GLOBE NEWSWIRE) — The market for E-Bikes is expected to experience significant growth during the forecast period (2022-2030), with a projected CAGR of 12.6%, and is anticipated to reach a value of USD 103.5 billion. Factors driving this growth include increased awareness of health and environmental benefits, government initiatives and subsidies, and battery technology and design advancements. SkyQuest’s analysis predicts that the global market for e-bike batteries will reach USD 10.6 billion by 2025, with an estimated CAGR of 7.5%. These batteries are becoming more efficient, resulting in more powerful e-bikes with longer battery life and shorter charging times.
SkyQuest also notes that the average price of an e-bike has decreased from $2,200 in 2017 to $1,900 in 2020, making them more affordable. Incentives such as subsidies and tax credits provided by governments worldwide, such as France and the United States, also contribute to the E-Bike market’s growth.
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Browse in-depth TOC on “E-Bike Market”
- Pages – 242
- Tables – 90
- Figures – 66
Due to the numerous benefits they offer, e-bikes have become increasingly important in today’s world. They provide an eco-friendly means of transportation that reduces carbon emissions, alleviates traffic congestion, and combats climate change. E-bikes also encourage physical activity, leading to improved health outcomes. They are cost-effective, user-friendly, and potentially revolutionize urban transportation. Consequently, e-bikes have been gaining popularity worldwide.
Prominent Players in E-Bike Market
- Accell Group N.V.
- BH Bikes
- Bosch eBike Systems
- Brose Fahrzeugteile GmbH & Co. KG
- Derby Cycle Holding GmbH
- Giant Manufacturing Co. Ltd.
- Grace GmbH & Co. KG
- Greyp Bikes
- Haibike GmbH
- Haro Bike Corporation
- Klever Mobility Europe GmbH
- M1 Sporttechink GmbH
- Panasonic Corporation
- Pedego Electric Bikes
- Polaris Industries Inc.
- Riese & Müller GmbH
- Specialized Bicycle Components Inc.
- Trek Bicycle Corporation
- Yamaha Motor Co. Ltd.
Commuter / Urban Segment to Drive Higher Sales as There is Increase in Demand for Sustainable and Eco-Friendly Transportation Options in Urban Areas
A recent analysis indicates that the Commuter/Urban segment played a significant role in the rapid development of the E-bike market in 2021 and is expected to maintain this trend from 2022 to 2030. The increase in demand for sustainable and eco-friendly transportation options in urban areas, combined with growing government initiatives and subsidies, is driving this expansion. According to a European Cyclists’ Federation survey, 30% of E-bike users in Europe primarily use their E-bikes for commuting to work or school, demonstrating the significant demand for E-bikes in the commuter/urban segment. The International Energy Agency (IEA) predicts that E-bike sales will reach 130 million units globally by 2030, with most sales expected to come from the commuter/urban segment in Asia, particularly in China and India..
SkyQuest projects that North America will become a dominant player in the E-Bike market from 2022 to 2030, growing at a CAGR of 7.82% during the forecast period. Favorable government initiatives, increasing awareness of environmental benefits, and rising fuel prices are driving the market expansion in the region. The U.S. is leading the North American market, with rising consumer demand and increasing investments in e-bike infrastructure. Furthermore, the U.S. government announced a $3 billion investment in the development of e-bike infrastructure in March 2021 as part of its infrastructure bill.
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Lithium-ion Battery Type Segment to Exhibit Strong Growth Due to the High Energy Density of the Battery, Longer Lifespan, and Lower Weight
The Lithium-ion Battery Type segment is driving the E-Bike market is projected to remain dominant from 2022 to 2030, as per the recent analysis. The key drivers of this trend are the high energy density, longer lifespan, and lower weight of lithium-ion batteries. Additionally, a European Association of Motorcycle Manufacturers (ACEM) study revealed that lithium-ion batteries constitute 95% of the e-bike battery market share in Europe. SkyQuest’s research also indicated that lithium-ion batteries account for 92.8% of the Chinese e-bike market.
SkyQuest’s latest research indicates that the Asia Pacific region is expected to maintain its leading position in the E-bike market, with a significant growth rate projected at a CAGR of 7.97% during the forecast period. This growth is driven by the high adoption rate of e-bikes in countries like China, Japan, and South Korea and the rising demand for eco-friendly transportation options in the region. Moreover, Niu Technologies, a Chinese e-bike company, recently announced a partnership with KTM, a motorcycle manufacturer, to jointly develop and produce electric mopeds and bicycles for the European market, which is expected to further expand the market reach of both companies and contribute to the growth of the e-bike market in the region.
A comprehensive analysis of the major players in the E-Bike market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in the E-Bike Market
- TVS Motor Company announced that it had successfully acquired a 75% stake in the electric bike manufacturer Swiss E-Mobility Group (SEMG) electric bike manufacturer. SEMG operates the largest e-bike retail chain M-way in Switzerland, generating nearly USD 100 million in revenue. The company’s portfolio of mobility brands includes Cilo, Simpel, Allegro, and Zenith bikes, which are sold through two online platforms and 31 physical stores. TVS’ expansion in Europe will be further strengthened by this acquisition, which includes Norton Motorcycles and EGO Movement. In an all-cash deal, the acquisition was made through TVS Motors Singapore subsidiary, TVS Motor (Singapore) Pte Ltd.
- Porsche announced that it would acquire all shares of Fazua, an e-bike drivetrain manufacturer that specializes in lightweight motors, after buying a 20 percent stake earlier this year. The German automaker continues to expand its electric bike portfolio, having previously acquired a majority stake in Croatian e-bike company Greyp late last year.
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Key Questions Answered in E-Bike Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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