23.6% CAGR, E-Bike Market to reach USD 224 Billion by 2027

According to the statistics of Inrix Global Traffic Scorecard, in 2018, 60 urban areas in the US were found to be the most traffic-congested regions. Adoption of e-bikes serves multiple benefits, as it can reduce vehicular emissions. Moreover, traveling by e-bikes makes the daily journey simple and cheaper. Thus, the rising pollution concerns, need to clear traffic congestion, and favorable government initiatives proliferate the global e-bike market.

Traffic is the most alarming issue commuters face every other day. Not only it consumes time but also compels to spend more amount on fuel.

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Conventional vehicles use fossil fuels and emit greenhouse gases (GHGs) that are environmental deterrents. Growing environmental concerns due to automobile emissions have compelled governments and automakers across the world to focus on manufacturing electric vehicles. The rising adoption of electric vehicles is observed in the US, China, Germany, and many other developed economies. Governments in several countries have started providing incentives to vehicle owners to expand the e-bike market. Zero-emission vehicles (ZEVs), road to zero strategy, and Dubai carbon abatement strategy are the major initiatives running on the global level to curb environmental pollution and enhance the adoption of electric vehicles.

According to The Insight Partners' research, the global e-bike market was valued at US$ 35,862.5 million in 2018 and is likely to reach US$ 2,24,014.2 million by 2027 to expand at a CAGR of 23.6% from 2019 to 2027. Several government initiatives to reduce emission levels globally and the adoption of e-bikes to reduce traffic congestion are the crucial factors credited to the market expansion.

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Strategic Insights:
The major companies profiled in the global e-bike market report are Haibike; Aventon Bikes; Giant Bicycles; Merida Industry Co., Ltd; Pedego Electric Bikes; Robert Bosch Gmbh; Specialized Bicycle Components, Inc.; Shimano Inc; Trek Bicycle Corporation; and Yamaha Motor Co., Ltd.

• In June 2019, Aventon launched Pace 350 e-bike with a powerful brushless motor. The bike is available in two models, step-through and traditional. It comes equipped with wide tires, easy-to-read display, and throttle & pedal-assist mode.

• In September 2019, Giant Bicycles introduced Road E + Pro, a versatile drop-bar e-bike designed with a composite fork and responsive aluminum frame. This new bike covers considerably long distance in a single charge.

• In January 2020, Merida launched two new aluminum models, eOne-sixty and eOne-Forty, in its exclusive e-bike series. These two bikes are equipped with the company's integrated battery system and are available in the market at a reasonable price.

On the other hand, the underdeveloped charging and cycling infrastructure in developing countries impedes the growth of global e-bike market.

Based on battery type, the market is segmented into lithium-ion, lithium-ion polymer, and lead-acid. The lithium-ion segment occupied 68.6% market share in 2018, generating US$ 24,613.6 million. It is speculated to accrue US$ 1,58,005.9 million by 2027 to rise at 24.0% CAGR during 2019-2027.

As per motor type, the e-bike market sphere is segmented into hub motor and mid motor. The former held 57.2% market share in 2018. It garnered US$ 20,513.1 million in 2018 and is slated to amass US$ 1,13,392.0 million by 2027 to grow at 21.9% CAGR during the forecast period.

In terms of class, the global e-bike market is categorized into class I, class II, and class III. The class II segment led the domain in 2018 with 80.6% share of the business. It was evaluated at US$ 28,891.2 million in 2018 and is projected to accumulate US$ 1,72,827.2 million by 2027 to develop at 23.0% CAGR along the forecast period.

According to mode type, the e-bike market domain is split into pedal-assist mode and throttle mode. With 58.3% market share, the throttle mode segment dominated the business in 2018. It accounted for US$ 20,911.1 million in 2018 and is anticipated to be worth US$ 1,05,436.5 million by 2027 to exhibit a CAGR of 20.6% throughout the forecast period.

Regionally speaking, the Asia Pacific market captured 70.3% share of the domain in 2018. It was assessed at US$ 25,218.5 million in 2018 and is expected to hit US$ 11,34,879.0 million by 2027 to mark a CAGR of 21.5% over the forecast period. The North America market accounted for US$ 1,994.0 million in 2018 and is likely to hit US$ 19,354.8 by 2027.

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