The Global E-Bike Market Estimated to Progress at $48.46 Billion by 2028

A recent study by Triton Market Research titled 'Global E-Bike Market' contains the Global Analysis and Forecasts by Application (City/Urban, Trekking, Cargo), Product (Scooter or Motorcycle, Pedelecs, Throttle on Demand), Drive Mechanism (Hub Motor, Mid-Drive, Others), Battery (Lithium-Ion, Lead Acid), Power (Less than & Equal to 250 W, Above 250 W), and by Geography (Asia-Pacific, Europe, Latin America, North America, Middle East and Africa).

Electric bikes are powered by electric motors, offering an easy-pedaling option to the users. Moreover, they are ideal for trekking and cargo activities.

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Triton's report denotes that the e-bike market is likely to grow at a CAGR of 9.95%, attaining revenue worth $48.46 billion by 2028.

The growing concerns relating to the scarcity of natural resources have increased the demand for eco-friendly transportation across the world. In this scenario, e-bikes have emerged as an ideal substitute for conventional bikes, reducing carbon emission levels significantly. Hence, increased demand for eco-friendly transportation, coupled with governmental incentives supporting the adoption of e-bikes, are supplementing the growth of the e-bike market. However, the elevated cost of e-bikes and problems arising during distribution are major elements hindering the e-bike market's progress.

The e-bike market is segmented into application, product, drive mechanism, battery, and power.

Based on application, it is sectioned into city/urban, trekking, and cargo. The product segment is trifurcated into scooter or motorcycle, pedelecs, and throttle on demand. Further, the drive mechanism section is subdivided into hub motor, mid-drive, and others. In terms of battery, it is branched into lithium-ion and lead acid. Lastly, power is sectioned into less than & equal to 250 W and above 250 W.

Globally, Europe is estimated to emerge as the fastest-growing region in the e-bike market over the forecast period. In recent years, cycling has gained momentum across major cities, offering lucrative opportunities to bicycle manufacturers.

Moreover, consumers are opting for e-bikes for sports and leisure activities as they are considered to solve city logistics problems and are space-saving and eco-friendly. Among the countries, the Netherlands is the most promising in boosting the demand for electric bikes in the next few years. Hence, these factors are supporting the overall growth of the e-bike market in Europe.

Derby Cycle, Accell Group, Robert Bosch GmbH, Panasonic Corporation, Stromer, Vanmoof, Trek Bicycle Corporation, Giant Manufacturing Co Ltd, Golden Wheel Group, Samsung SDI Co Ltd, Shimano Inc, BMZ GmbH, Riese & Mueller, Brose Fahrzeugteile Se & Co KG, Qwic, Fuji-Ta Bicycle Co Ltd, Jiangsu Xinri E-Vehicle Co Ltd, and LG Chem are key companies engaged in the e-bike market.

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Question & Answer: E-Bike Market

Question 1: What major factors are supplementing the growth of the e-bike market?
Answer: The growing concerns relating to the scarcity of natural resources have increased the demand for eco-friendly transportation across the world. In this scenario, e-bikes have emerged as an ideal substitute for conventional bikes, reducing carbon emission levels significantly. Hence, increased demand for eco-friendly transportation, coupled with governmental incentives supporting the adoption of e-bikes, are supplementing the growth of the e-bike market.

Question 2: What major elements are hindering the e-bike market's progress?
Answer: The elevated cost of e-bikes and problems arising during distribution are major elements hindering the e-bike market's progress.

Question 3: Which region is estimated to emerge as the fastest-growing region in the e-bike market?
Answer: Globally, Europe is estimated to emerge as the fastest-growing region in the e-bike market over the forecast period. In recent years, cycling has gained momentum across major cities, offering lucrative opportunities to bicycle manufacturers. Moreover, consumers are opting for e-bikes for sports and leisure activities as they are considered to solve city logistics problems and are space-saving and eco-friendly. Among the countries, the Netherlands is the most promising in boosting the demand for electric bikes in the next few years. Hence, these factors are supporting the overall growth of the e-bike market in Europe.

Question 4: Which are the key companies engaged in the e-bike market?
Answer: Derby Cycle, Accell Group, Robert Bosch GmbH, Panasonic Corporation, Stromer, Vanmoof, Trek Bicycle Corporation, Giant Manufacturing Co Ltd, Golden Wheel Group, Samsung SDI Co Ltd, Shimano Inc, BMZ GmbH, Riese & Mueller, Brose Fahrzeugteile Se & Co KG, Qwic, Fuji-Ta Bicycle Co Ltd, Jiangsu Xinri E-Vehicle Co Ltd, and LG Chem are key companies engaged in the e-bike market.

Related Report:
Global Electric Vehicle Market - https://www.tritonmarketresearch.com/reports/electric-vehicle-market

The global electric vehicle market is anticipated to grow at a CAGR of 20.95% during the projected period of 2019-2028, while reaping $747.17 billion in revenue by 2027.

Electric vehicles are powered via a collector system with the help of electric current from portable batteries or charging stations. The vehicles are widely used as electric aircraft, road vehicles, and underwater vessels, among others.
The favorable government policies, cost-effective features of e-vehicles over traditional vehicles, and increasing per capita income of consumers are boosting the electric vehicle market on a growth path.

Additionally, growth in the production of lithium-ion batteries, government initiatives to reduce greenhouse gas emissions, and a surge in R&D activities are offering new opportunities to the electric vehicle market.

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