Electric Bike Market Predictable To Exceed Market Shares and Competitive Landscape 2028

According to Precision Business Insights (PBI), the latest report, the electric bike market is expected to be worth USD 48.3 billion in 2022, growing at a 10.5% CAGR from 2022 to 2028. E-Bikes are a speedier and safer form of transportation, particularly for everyday commuting. The use of e-Bikes is encouraged by governments worldwide. Many governments are organizing awareness campaigns to promote e-Bikes in partnership with for-profit and non-profit organizations. Reducing the carbon dioxide emission rate is the ultimate objective of such operations. Governments in many nations are providing subsidies to encourage the sale of e-bikes. For instance, the E-Bike Act, which would offer a tax credit of up to USD 1,500 on purchasing an e-Bike, is one of the new tax incentives in San Diego. Therefore, these government-sponsored initiatives and supporting activities would promote the purchase of e-Bikes.

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Lithium-ion Batteries Segment to Dominate the Electric Bike Market:
The lithium-ion batteries segment is expected to account for a larger revenue share in the global electric bikes Market, with a value share worldwide. It is projected to grow at a 11.3% CAGR between 2022 and 2028. A report issued by the European Commission predicted that the price of lithium-ion batteries will continue to decline over the coming years, with costs estimated to drop by almost 70% by 2030. These batteries are also anticipated to benefit from features including high performance, high charge density, high charging-discharging efficiency, and low weight.

Europe Electric Bike Market:
The Europe market is expected to increase in the global electric bikes market over the forecast period. It is projected to grow at a CAGR of X% in the coming years. Germany, France, and Italy dominate the European e-bike market. The revolutionary nature of the product, fully integrated batteries and drives, appealing designs, and the use of premium materials are some of the main reasons influencing e-bike sales. Germany's e-bike and bicycle sectors have seen tremendous growth in recent years, and in past years they saw the most significant volume growth and revenue growth.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global electric bikes market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In January 2022, Momentum, Giant Group's "lifestyle-inspired" cycling brand has introduced two new electric bicycles the Voya E+1 and Voya E+3. The Voya E+1 takes the form of a drop bar urban bike with an 11-speed Shimano GRX derailleur, while the Voya E+3 has typical flat bars and a 9-speed microSHIFT ADVENT derailleur. The 250 Wh battery claims to provide a range of between 40-72 km (25-45 miles) on a single charge. A provided 4A fast charger can give the battery an 80% charge in less than two hours. In September 2021, Merida launched the 2021 EX Enduro, which was temporarily discontinued in 2020. This new e-bike is powered by Shimano STEPS.

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Key players' profiles in the electric bike market report are Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co. Ltd.

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