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The global electric bike (e-bike) market is set to reach USD 65.18 billion from 2023 till 2028, recording a CAGR of 6.95%. The major growth drivers will be increasing urban adoption, technological advancements, and supportive government policies.
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The market is expected to reach USD 65.18 billion by 2028, growing at a CAGR of 6.95% from 2023. Consumers are increasingly adopting e-bikes for their eco-friendliness and convenience, particularly in urban areas.
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SLA Batteries: E-battery plays a major role in this market and currently dominates due to affordability, reliability, and ease of maintenance. However, they have lower energy density and capacity compared to Lithium-ion batteries. The segment SLA batteries were valued at USD 21.93 in 2018 and continued to grow until 2028.
Lithium-ion Batteries: Gaining traction due to their lighter weight, longer range, and higher energy density. This makes them ideal for longer commutes or e-bikes requiring more power.
Propulsion:
Pedal Assist: The largest segment. These e-bikes provide assistance when pedaling, offering a balance of exercise and motorized power. They are popular for commuting, exercise, and recreation.
Throttle Assist: Offer power on demand with a twist of the throttle, similar to a motorbike. They are convenient for short trips, riders with limited mobility, or those seeking a less strenuous ride.
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Additional Segments (to consider):
Understanding these market segments helps businesses target specific demographics, develop tailored product offerings, and effectively compete in the electric bike market.
Connected E-bikes: The rise of e-bike sharing services is driving the demand for connected e-bikes for real-time tracking and seamless integration with MaaS (Mobility-as-a-Service).
All-wheel Drive E-bikes: These e-bikes offer enhanced traction and control for diverse terrains, attracting new rider segments.
Product Recalls: Product safety issues and recalls can hinder market growth, impacting manufacturer profits.
Infrastructure: Lack of dedicated bike lanes and infrastructure can impede e-bike adoption in some regions.
Despite challenges, the electric bike market is poised for continued growth due to increasing demand for eco-friendly solutions, technological advancements, and expanding e-bike categories. The rise of intelligent e-bikes with data-gathering capabilities signifies a future-oriented market.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
E-bike Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.95% |
Market growth 2024-2028 |
USD 16.48 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.7 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key countries |
US, China, Japan, Germany, and The Netherlands |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accell Group NV, Avon Cycles Ltd., BH BIKES Europe SL, Cortina Bikes, Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Hero Ecotech Ltd., Kalkhoff Werke GmbH, Klever Mobility Europe GmbH, myStromer AG, PEDEGO Inc., PIERER Mobility AG, Riese and Muller GmbH, SCOTT Sports SA, SHIMANO INC., Trek Bicycle Corp., TVS Motor Co. Ltd., Yamaha Motor Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Battery Type
7 Market Segmentation by Propulsion
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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