London, United Kingdom, Jan. 19, 2023 (GLOBE NEWSWIRE) — “Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand), by Drive Mechanism (Hub Motor, Mid-drive and Others), by Battery Type (Lead acid, Li ion And Others), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2028 ” is the title of the most recent analysis report that Facts and Factors has recently added to their research database.
“The latest research shows that the demand for global Electric Bike Market size & share was estimated around USD 41.35 Billion in 2020 and is expected to cross USD 69.24 Billion by the end of 2028, with a compound annual growth rate (CAGR) of nearly 14.9% between 2023 and 2028.”
Electric Bike market analysis report is professional and in-depth research that focuses on leading segments, market share, e-bike market trends, primary and secondary drivers, electric bike industry growth, production, and regional analysis of the market in discussion (such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.)
What is Electric Bike? How big is the electric bike market?
- Electric Bike Market Coverage & Overview:
E-bikes, e-bicycles, pedelecs, and power-assisted (bi)cycles are ordinary bicycles with an electric motor, a battery, and a transmission. These bikes can either be pedaled or powered by rechargeable batteries. There are three types of rechargeable batteries: lead-acid, lithium-ion (Li-ion), and nickel-metal hydride (NiMH). The most common type of battery is lead-acid, which can travel large distances on a single charge. These bikes are easy to ride, suitable for people of all ages, and a cost-effective alternative to motorized cars as an environmentally responsible mode of transportation. Electric bicycles are a versatile, eco-friendly, and fashionable form of transportation. Consumers regard them as a viable alternative to scooters, smart cars, and public transportation.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 235+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Major Market Players
- Giant Bicycles
- Merida
- Trek Bikes
- Riese & Muller
- Fritzmeier Systems GmbH & Co. Kg
Electric Bike Market: COVID-19 Impact
The recent COVID-19 outbreak and economic slump have altered the entire market statistics of many sectors around the world. The electric bike market is no exemption to this rule.
Commuters are avoiding public transit due to the COVID-19 pandemic. E-bikes are regarded as a safe, convenient, and cost-effective mode of mobility. According to industry analysts and e-bike manufacturers such as Rad Power Bike, VanMoof, and Lectric e-bike, e-bikes are becoming a more popular method of transportation as cities in the United States and Europe emerge from quarantine. Furthermore, due to government limits on public transit as a result of social-discrimination guidelines, commuters are turning to the bicycle as a form of daily mobility. However, in the first quarter of 2020, e-bike sales were hampered by the closure of e-bike retailers owing to lockdown.
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Key questions answered in this report:
- What is the size of the electric bike market and what is its expected growth rate?
- What are the primary driving factors that push the electric bike market forward?
- What are the top companies in the electric bike industry?
- What are the different categories that the electric bike market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the electric bike market sample report and company profiles?
Key Offerings:
- Electric Bike Market Share, Size, Trends & Forecast by Revenue | 2023−2028
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Product, by Drive Mechanism, by Battery Type, and by Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Global Electric Bike Market: Growth Factors
- Rapid urbanization and traffic congestion in cities are likely to fuel demand for e-bikes
Over the projection period, factors such as rapid urbanization and traffic congestion in cities are likely to fuel demand for e-bikes. Government rules encouraging the use of electric bikes, consumer preference for e-bikes as an environmentally responsible and efficient mode of transportation, and rising gasoline prices are all factors positively impacting the market’s growth.
Because of the COVID-19 epidemic, shared mobility is unlikely to be favored for transportation. E-bikes are regarded as a safe, convenient, and cost-effective mode of mobility. To relieve the strain on public transportation systems, most countries are promoting e-bikes through subsidies and legal adjustments.
Global Electric Bike Market: Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 41.35 Billion |
| Projected Market Size in 2028 | USD 69.24 Billion |
| CAGR Growth Rate | 14.9% CAGR |
| Base Year | 2020 |
| Forecast Years | 2023-2028 |
| Key Market Players | Giant Bicycles, Merida, Trek Bikes, Riese & Muller, Fritzmeier Systems GmbH & Co. Kg, and Others |
| Key Segment | By Product, By Drive Mechanism, By Battery Type, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Electric Bike Market: Segmentation Analysis
The global Electric Bike market is segregated into the product, drive mechanism, battery type.
- lithium-ion battery category is likely to dominate the market
During the forecast period, the lithium-ion battery category is likely to dominate the market. These batteries are smaller, lighter, and have a longer range than lead-acid batteries. They can also start in harsh weather. They also necessitate less upkeep. These are some of the factors that are expected to keep this segment’s dominance over the projection period. Various governments have established strict regulations for the usage of lead-acid batteries because their chemicals emit hazardous fumes that might cause major environmental problems. The emission of lead into groundwater has the potential to be harmful to human health.
There’s a reason for this: producing these types of e-bikes is more profitable for them. These bikes are lighter, smaller, and can travel greater distances while using very little battery power. As a result, the mid-motor sector is expected to grow at a faster rate over the forecast period.
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Regional Analysis:
- North American e-bike industry is expected to grow at a high rate between 2023 and 2028
The North American e-bike industry is expected to grow at a high rate between 2023 and 2028, propelled by demand from Canada and the United States. The industry’s expansion in Canada is being aided by rising demand from retired clients, as well as a growing preference for leisure activities.
- European market accounts for roughly 39% of the total e-bike market
The European market accounts for roughly 39% of the total e-bike market. Germany was the most powerful country in Europe, followed by France and Italy. E-bikes are a popular means of transportation in Germany. In this country, e-bikes are also employed for sports and pleasure. In the country, they serve as a clean, quiet, and space-saving option for city logistics.
During the projected period, Asia Pacific is predicted to be the largest market for e-bikes. Due to rising e-bike sales in these nations, China, Japan, India, and Taiwan are prospective markets in this region. In China, the use of electric bikes has exploded in the last decade, and the industry is expected to be one of the fastest-growing marketplaces in the world, with prospects in a variety of sectors and categories.
Browse the full “Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand), by Drive Mechanism (Hub Motor, Mid-drive and Others), by Battery Type (Lead acid, Li ion And Others), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2023 – 2028” Report at https://www.fnfresearch.com/electric-bike-market
The global electric bike market is segmented as follows:
Global E-Bike Market: By Product Segment Analysis
- Pedelecs
- Speed Pedelecs
- Throttle on Demand
Global E-Bike Market: By Drive Mechanism Segment Analysis
- Hub motor
- Mid-drive
- Others
Global E-Bike Market: By Battery Type Segment Analysis
- Lead acid
- Lithium ion (Li-ion)
- Others
Key Insights from Primary Research
- According to a detailed analysis shared by our research team, the electric bike market is projected to touch annually at a CAGR of around 14.9% from 2023 to 2028.
- As per primary research, it was stated that the electric bike market was worth around USD 41.35 Billion in 2020 and will reach revenue of roughly USD 69.24 Billion by the end of 2028.
- Based on Geography, “North America” is anticipated to witness the largest market share.
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