The Global E-Bike Market Calculated to Acquire $48.46 Billion in Revenue by 2028

According to Triton's report, in 2020, the global e-bike market attained $25.03 billion, and is estimated to observe growth at 9.95% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global E-Bike Market’ includes the Global Analysis and Forecasts by Drive Mechanism (Mid-Drive, Hub Motor, Others), Application (Trekking, City/Urban, Cargo), Products (Scooter or Motorcycle, Pedelecs, Throttle on Demand), and by Geography (Latin America, Middle East and Africa, Asia-Pacific, Europe, North America).

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Triton’s report suggests that the global e-bike market is projected to advance at a CAGR of 9.95% during the evaluated period of 2021-2028. The market is further predicted to gain revenue worth $48.46 billion by 2028.

E-bikes are considered ideal substitutes for traditional vehicles, public transport, scooters, and smart cars as they are eco-friendly, cost-effective, and lightweight. They have an integrated electric motor and battery, which assists in easy commute.

Factors such as government incentives favoring the market’s growth, coupled with increased preference for e-bikes, are majorly contributing to the development of the e-bike market worldwide. Over the years, a surge in global carbon emissions by fuel combustion has raised significant concerns for governments, significantly fueling the demand for electric vehicles and bikes. Moreover, the shift in preference towards e-bikes as an easy mode of transportation for commuting through traffic has gained substantial traction in major cities, thereby motivating the studied market’s progress.

However, e-bikes are becoming more expensive compared to conventional motorbikes due to costs related to design, mini engine, battery power, and wiring. This is one of the major factors obstructing the expansion of the e-bike market.

The e-bike market is segmented into drive mechanism, application, and products. As per the drive mechanism, it is categorized into mid-drive, hub motor, and others. In terms of application, the division is into trekking, city/urban, and cargo. Based on products, the market is sectioned into scooter or motorcycle, pedelecs, and throttle on demand.

Geographically, Europe is anticipated to become the fastest-growing market for e-bike during the years 2021-2028. In the region, e-bikes are outselling traditional bikes, which can be attributed to the rising inclination of consumers towards maintaining physical fitness. Moreover, e-bikes are considered to be eco-friendly and require less space, which is also likely to solve logistics problems in major cities. Additionally, infrastructure for e-bikes has been established in countries, such as Germany, France, Italy, and the Netherlands. Hence, these factors significantly contribute to the growth of the e-bike market across Europe.

Giant Manufacturing Co Ltd, BMZ GmbH, Shimano Inc, Brose Fahrzeugteile SE & Co KG, Stromer, Golden Wheel Group, Accell Group, LG Chem, QWIC, Trek Bicycle Corporation, Panasonic Corporation, Robert Bosch GmbH, Fuji-Ta Bicycle Co Ltd, Riese & Mueller, Jiangsu Xinri E-Vehicle Co Ltd, Derby Cycle, and Vanmoof are well-known enterprises thriving in this market.

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Question & Answer: E-Bike Market

Question 1: What factors are majorly contributing to the development of the e-bike market worldwide?

Answer: Factors such as government incentives favoring the market’s growth, coupled with increased preference for e-bikes, are majorly contributing to the development of the e-bike market worldwide.

Over the years, a surge in global carbon emissions by fuel combustion has raised significant concerns for governments, significantly fueling the demand for electric vehicles and bikes. Moreover, the shift in preference towards e-bikes as an easy mode of transportation for commuting through traffic has gained substantial traction in major cities, thereby motivating the studied market’s progress.

Question 2: What factor is obstructing the expansion of the e-bike market?

Answer: E-bikes are becoming more expensive compared to conventional motorbikes due to costs related to design, mini engine, battery power, and wiring. This is one of the major factors obstructing the expansion of the e-bike market.

Question 3: Which region is anticipated to become fastest-growing in the e-bike market?

Answer: Geographically, Europe is anticipated to become the fastest-growing market for e-bike during the years 2021-2028. In the region, e-bikes are outselling traditional bikes, which can be attributed to the rising inclination of consumers towards maintaining physical fitness. Moreover, e-bikes are considered to be eco-friendly and require less space, which is also likely to solve logistics problems in major cities. Additionally, infrastructure for e-bikes has been established in countries, such as Germany, France, Italy, and the Netherlands. Hence, these factors significantly contribute to the growth of the e-bike market across Europe.

Question 4: Which are the well-known enterprises thriving in the e-bike market?

Answer: Giant Manufacturing Co Ltd, BMZ GmbH, Shimano Inc, Brose Fahrzeugteile SE & Co KG, Stromer, Golden Wheel Group, Accell Group, LG Chem, QWIC, Trek Bicycle Corporation, Panasonic Corporation, Robert Bosch GmbH, Fuji-Ta Bicycle Co Ltd, Riese & Mueller, Jiangsu Xinri E-Vehicle Co Ltd, Derby Cycle, and Vanmoof are well-known enterprises thriving in this market.

Related Report:

Global Electric Vehicle Market

The global electric vehicle market is predicted to display revenue growth during the years 2019-2027 at a CAGR of 20.95%. It is further projected to acquire revenue worth $747.17 billion by 2027.

Electric vehicles are mainly dependent on multiple electric motors referred to as traction motors to achieve forward motion. Moreover, these vehicles are utilized as electric spacecraft, road and rail transport, and more.

Factors such as proactive government policies to encourage the use of electric vehicles, increasing per capita income, and cost-effectiveness of EVs compared to their gas-powered counterparts, are driving the growth of the electric vehicle market.

However, the lack of electric vehicle charging stations, the elevated cost of EVs, and lack of public awareness, are factors negatively impacting the progress of the electric vehicle market.

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