Portland, OR, April 21, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global E-bike market was pegged at $40.31 billion in 2019 and is estimated to hit $118.65 billion by 2030, registering a CAGR of 10.5% from 2020 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in fuel costs, growth in interest in cycling as fitness & recreational activity, consumer inclination toward uses of e-bikes as eco-friendly & efficient solutions for commute, and implementation of government regulations to encourage the use of electric bikes drive the growth of the global E-bike market. On the other hand, ban on use of e-bikes in major cities of China and high cost of e-bikes impede the market growth. However, improvement in bicycling infrastructure & battery technology is anticipated to pave the way for lucrative opportunities for the frontrunners in the industry.
- The outbreak of the pandemic led to huge adoption of work from home culture by most organizations across the world. This, in turn, eliminated the need for commutes to work locations, thereby impacting the global E-bikes market negatively.
- On the other hand, people are nowadays avoiding public transportations and preferring e-bikes since they are safe, reasonable, and expedient alternatives to public transportation. Simultaneously, several government restriction on using public transport has worked as a stimulant to the sale of e-bikes.
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The global E-bike market is analyzed across product, drive mechanism, battery type, and region. Based on product, the scooter & motorcycle segment contributed to nearly two-thirds of the total market share in 2019 and is expected to lead the trail by 2030. Simultaneously, the throttle on-demand segment would grow at the fastest CAGR of 14.0% from 2020 to 2030.
By drive mechanism, the hub motor segment accounted for nearly three-fourths of the total market revenue in 2019, and is projected to rule the roost by 2030. At the same time, the mid-drive segment would exhibit the fastest CAGR of 11.0% during the forecast period.
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By region, the market across Asia-Pacific held the highest share in 2019, garnering around two-thirds of the global market. LAMEA, on the other hand, would portray the fastest CAGR of 14.0% during the forecast period. The other two regions covered under the report include Europe and North America.
The leading market players analyzed in the global E-bike market report include Derby Cycle, Fuji-ta Bicycle Co., Ltd., Yamaha Motor Co., Ltd., Giant Manufacturing Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Accell Group, Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, and Jiangsu Xinri E-Vehicle Co., Ltd. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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Similar Research Reports We Have on Electric Vehicles/Bikes:
Solar E-Bike Market by Product Type (Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid Drive, and Others), Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Fuel Cell Bikes Market by Drive Mechanism (Hub Motor, Mid Drive, and Others), Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.
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Electric Mobility Scooter Market by Battery Type (SLA, Li-ion, and NiMH), and by Number of Tire (2 Wheeler, 3 Wheeler, 4 Wheeler, and 5 Wheeler) – Global Opportunity Analysis and Industry Forecast, 2017-2030.
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Electric Truck Market by Propulsion (Battery Electric Truck, Hybrid Electric Truck, Plug-in Hybrid Electric Truck, and Fuel Cell Electric Truck), Vehicle Type (Light-duty Electric Truck, Medium-Duty Electric Truck, and Heavy-Duty Electric Truck) and Range (0-150 miles, 151-300 miles, and 300 miles above): Global Opportunity Analysis and Industry Forecast, 2020–2030.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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