Global eBike Market 2021 Precise Scenario Covering Trends, Opportunities and Growth Forecast 2027

The global electric bike (eBike) market size is USD 41 billion in 2020 and is projected to grow to USD 70 billion by 2027 exhibiting a CAGR of around 8% during the forecast period.

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Government funding and stringent regulations for electric bikes are significant factors that are anticipated to accelerate the growth of the market size of electric bikes. In addition, the growth of the global electric bicycle industry is motivated by the rising willingness of consumers to use e-bikes as an eco-friendly and reliable alternative to commuting and the fuel costs.

In addition to growing user demand for outdoor and adventure sports, during the projected timeframe, the adoption of e-bike applications in many industries, such as logistics and e-bike rental services, is expected to boost the studied market.

Owing to growing urbanisation and the increasing amount of vehicular traffic on the road, the use of electric bikes is increasing. Thanks to their power capability, long distance range, and moderate speed, electric bikes are now considered a viable transportation alternative.

During the projected period, Asia Pacific is anticipated to be the largest e-bike region. In this area, due to growing e-bike purchases in these countries, China, Japan, India, and Taiwan are potential markets.

The Government's Stringent Emission Standards are projected to fuel growth in the size of the electric bike industry. Strict restrictions have been imposed on manufacturers to manufacture zero-emission cars by the governments of various countries.

It is predicted that increasing worries about road congestion and government efforts to alleviate traffic congestion would expand the size of the demand for electric bikes. As they occupy the least space on the lane, the use of e-bikes would reduce the number of vehicles on the road and result in less traffic jams.

One of the factors projected to boost the market for e-bikes over the forecast period is rapid urbanisation and traffic congestion in cities. Shared versatility for transportation is unlikely to be favoured because of the COVID-19 pandemic. E-bikes are considered an alternative to mass transit that is clean, comfortable and inexpensive.

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With the adoption of e-bikes, technical developments in the area of e-bikes are taking place and linked e-bikes are one such development. Automatic calls, seamless routing, social media connection, an anti-theft system, and remote diagnostics are some of the essential features provided by the linked e-bike. Bosch, which provides a wired e-bike solution, is one of the main players in the e-bike industry.

High traffic congestion in metropolitan areas is rising the worldwide need for e-bikes. Demand for greener and safer modes of transport is growing, driving the global e-bike industry.

Key Market Players

Giant Bicycles
Merida Industry Co. Ltd
Fritzmeier Systems GmbH & Co. Kg (M1 Sporttechnik)
Riese & Muller GmbH
Yamaha Bicycles
Accell Group
Derby Cycle
Karbon Kinetics Ltd
Solex Cycle North America Inc.
ITALJET SPA
GenZe by Mahindra
Amego Electric Vehicles Inc.
Pedego Electric Bikes
Riese & Müller GmbH
M1-Sporttechnik
Kawasaki Motors Corp.
Giant Bicycles
Trek Bicycle Corporation

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