E-Bike Market - Size, Key Manufacturers, Developments, Trends and Analysis | MarketsandMarkets

E-Bike Market by Mode (Throttle, Pedal Assist), Motor Type, Class, Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Component, Battery Type, and Region

NORTHBROOK, ILLINOIS, UNITED STATES, April 8, 2022 /EINPresswire.com/ -- The E-Bike Market is projected to reach $79.7 billion by 2026 from $47.0 billion in 2021, at a CAGR of 11.1%. The Electric Bike Market growth is driven by increasing traffic congestion, growing interest in cycling as a fitness and recreational activity, and the inclination of consumers toward an eco-friendly solution for commuting.

The Asia Pacific leads the global e-bike market, followed by Europe and North America. Due to increasing traffic, people in the Asia Pacific region mostly prefer city/urban e-bikes for commuting. However, in Europe, mountain e-bikes are popular due to the growing interest of consumers in mountain//trekking activities. In North America, there is a growing demand for city/urban e-bikes for the daily commute, recreation, and fitness activities.

OPPORTUNITY: Trend towards connected e-bikes

With the growing demand for e-bikes, there are technological advancements in the field of e-bikes. The connected e-bike is one such advancement, wherein the SIM module enables the e-bike to send and receive data to and from the cloud without a connected smartphone. Some of the important features offered by the connected e-bike include automatic emergency calls, integrated navigation, social media connection, an anti-theft system, and remote diagnostics. Bosch is one of the major players in the e-bike market, offering connected electric bike solutions. For example, Smartphone Hub by Bosch can connect e-bikes to a smartphone and support the riders before and after their journey. The Lock premium function by Bosch also transforms the Kiox connected onboard computer into the key for greater security. Nyon from Bosch determines the pedalling force and frequency during the journey and uses this information to calculate the cyclist’s performance and energy consumption. On platforms such as komoot, which is integrated into the COBI.Bike app, millions of users can exchange information with each other and discover new routes with recommendations and tips from the community.

Top 10 Players:-

Accell Group N.V., Giant Manufacturing Co. Ltd., Pon. Bike, Yamaha Motor Company, Merida Industry Co. Ltd., Specialized Bicycle Components, Inc, Pedego Electric Bikes, Yadea Group Holdings Ltd., Trek Bicycle Corporation, and Koito Manufacturing Co., Ltd.

Additional Regional Players:-

Hero Lectro E-Cycles, Fuji-ta Bicycle Co., Ltd., Electric Bike Company, Rad Power Bikes Llc, Vanmoof, BH Bikes, Brompton Bicycle Ltd., Riese & Müller Gmbh, Stormer, Cowboy.

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The Asia Pacific is projected to be the largest regional market

The Asia Pacific was the largest e-bike market in 2020, and China was the largest market in the region, with a share of ~97% share, by volume, of the Asia Pacific e-bike market. The e-bike market in the Asia Pacific region has evolved over the years. Japan was the first country to introduce e-bikes. The region is home to major e-bike manufacturers and component suppliers, such as Giant Manufacturing, Merida, AIMA, Yadea Group, Panasonic, Shimano, and Yamaha Motor Company. City/Urban bikes are mostly used by working professionals and teenagers for daily commutation in the region. In this region, India, Japan, South Korea, and Taiwan are potential markets owing to the increasing e-bike sales in these countries.

The lithium-ion battery segment is projected to lead the electric bike market

The lithium-ion battery segment, by battery type, is the largest segment as lithium-ion batteries are preferred in e-bikes presently. These batteries are smaller in size, long-lasting, and have more power-to-weight ratio than other batteries.

The mountain/trekking e-bike segment by usage is expected to be the fastest-growing market

The demand for mountain/trekking e-bikes is growing rapidly as consumers increasingly show interest in trekking and recreational activities. There is a growing interest in performance-based adventurous sports, which, in turn, increases the demand for mountain/trekking e-bikes. Sports and physical activities are becoming more adaptable through electric motors. In many countries, mountain e-bikes are not only used for mountain trekking but also for daily commutation. The main reason for the growing popularity of mountain e-bikes is their robustness.

The class-I segment is expected to be the largest segment during the forecast period

Class-I segment, by class type in e-bikes is expected to be the largest segment during the forecast period as Asia Pacific countries. which are a major market for e-bikes, such as China, Japan, South Korea, and Taiwan allow only Class-I e-bikes. This results in the Class-I e-bikes occupying the largest market share in the Asia Pacific region.

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Top Segments:-

Electric Bike Market By Class:

1. CLASS-I
2. CLASS-II
3. CLASS-III

Electric Bike Market, By Speed:

1. Up to 25 km/h
2. 25-45 km/h

Electric Market, By Battery Type:

1. Lithium-Ion
2. Lithium-Ion Polymer
3. Lead Acid
4. Others

Electric Bike Market, By Motor Type:

1. Hub
2. Mid

Electric Bike Market, By Mode:

1. Pedal Assist
2. Throttle

Electric Bike Market, By Components:

1. Batteries
2. Electric Motors
3. Frame With Fork
4. Wheels
5. Crank Gears
6. Brake Systems
7. Others

Electric Bike Market, By Usage:

1. Mountain/Trekking
2. City/Urban
3. Cargo
4. Others

Electric Bike Market, By Ownership:

1. Shared
2. Personal

Electric Bike Market, By Region:

1. the Asia Pacific
2. Europe
3. North America
4. Other

Mr. Aashish Mehra
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