Electric Bike Market Size, Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Electric Bike Market size is set to
gain impetus from the rising trend of the bike-sharing mode of transportation.
It helps in surging the driving distance and lowering the energy required by
the rider.
Fortune Business Insights™ provided this information in a new study,
titled, “Electric Bike (E-bike) Market Size, Share & COVID-19 Impact Analysis, By Battery
Type (Lead Acid, Lithium-ion, Nickel-Metal Hydride and Others), By Propulsion
Type (Pedal Assist and Throttle) and Regional Forecasts, 2020-2027.” The
study further mentions that the e-bike market size was USD 10.05
billion in 2019 and is projected to reach USD 10.90 billion by
2027, exhibiting a CAGR of 8.4% during the forecast period.
COVID-19 Compelling Manufacturers to
Change Designs of E-bikes
The COVID-19 pandemic has disrupted the
supply chain of those companies who used to purchase vital components from
China. Lithium and cobalt required for the production of e-bikes are available
mainly in China. Hence, several companies are trying to reduce their dependence
on one country. Some of them are also changing the designs of the vehicles.
This pandemic is, thereby, set to decline the demand for the product. We are
providing detailed research reports for helping you understand the current
scenario.
This Report Answers the Following
Questions:
- What are the opportunities & challenges for new entrants?
- Who are the prominent vendors present in the global market?
- Which segment would provide the most opportunity for market growth?
- Where will the current developments take the industry in the long
term?
Drivers & Restraints
Increasing Traffic Congestion in
Developing Nations to Spur Demand
The developing nations across the globe
are facing traffic congestions on a regular basis. The surging number of
vehicles in these nations is further causing an insufficient existing road
infrastructure. Therefore, the governments are taking several initiatives to
lower this congestion that is not only affecting a person’s professional life,
but also personal life. They are promoting the usage of e-bikes for
transportation. This can further help in reducing the number of taxis and
private cars on the road. However, as e-bikes are operated by batteries, they
may have numerous technical issues, such as quick discharge of batteries. This
factor may hamper the electric bike market growth in the near future.
Segment
Lithium-ion Segment to Lead Fueled by
Possession of Beneficial Properties
Based on battery type, the lead acid
segment earned 31.3% in terms of electric bike market share in 2019. The
segment is anticipated to exhibit a lower growth in the coming years stoked by
the implementation of strict rules by the regulatory bodies of various
countries for their usage. These batteries release harmful gases that may
impact the environment. The lithium-ion segment, on the other hand, would
dominate owing to their possession of multiple beneficial properties.
Regional Analysis
Asia Pacific to Retain its Dominant
Position Backed by Contribution of China
Geographically, in 2019, Asia Pacific
held USD 8.47 billion in terms of revenue. The region is set to dominate
throughout the forthcoming years on account of the major contribution of China.
The country is a prominent consumer and producer of electric bicycles. Europe
is expected to remain in the second position stoked by the presence of
stringent vehicular emission standards imposed by the ruling bodies.
Competitive Landscape
Key Players Focus on Launching
Innovative Products to Strengthen their Positions
The companies operating in the market
are constantly conducting research and development activities to create
state-of-the-art e-bikes. As more countries are inclined towards saving energy,
these products are in high demand.
Below are two most recent industry
developments:
September 2020: Atumobile Pvt. Ltd., an electric vehicle startup
headquartered in Hyderabad, India, recently launched its electric bike named
Atum 1.0. Its base price is Rs 50,000. The bike is approved by International
Centre for Automotive Technology (ICAT) and doesn’t require a driving license
or registration.
August 2020: Detel, a consumer electronic brand based in Delhi
introduced Detel Easy, its cheapest electric two-wheeler priced at Rs 19,999.
It is equipped with a 48V 12AH LiFePO4 battery that delivers 60 km at full
charge.
List of the Leading Companies Profiled
in the Global E-Bike Market are:
- Giant Bicycles (Taichung City, Taiwan)
- Energica Motor Company (Modena, Italy)
- Accell Group (Heerenveen, Netherlands)
- Robert Bosch GmbH ( Gerlingen, Germany)
- Derby Cycle Holding Gmbh (Cloppenburg, Germany)
- Pedego Electric Bikes (California, United States)
- Panasonic Corporation (Osaka, Japan)
- Mahindra & Mahindra ltd (Mumbai, India)
- Trek Bicycle corporation (Wisconsin, United States)
- Bionx International Corporation (Ontario, Canada)
- Shimano Inc (Osaka, Japan)
Read Detailed Summary of 200 Pages
Premium Research Report With TOC:
https://www.fortunebusinessinsights.com/electric-e-bike-market-102022
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Merger, Acquisitions, and Partnerships
- Distributor Analysis – For Major Players
- Growth and Penetration Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Vendor Landscape
- Global Electric Bikes (E-bikes) Market Analysis, Insights and
Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Propulsion Type
- Pedal Assist
- Throttle
- Market Analysis, Insights and Forecast – By Battery Type
- Lead Acid
- Lithium-ion
- Nickel-Metal Hydride
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
TOC Continued…!
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Read Press Release:
https://www.fortunebusinessinsights.com/press-release/electric-e-bike-market-9542
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