Press release
The Global E-Bike Market Predicted to Acquire $48.46 Billion in Value by 2028
E-Bike Market
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According to Triton's research report, the e-bike market is anticipated to surge at a CAGR of 9.95%, reaping revenue worth $48.46 billion.
E-Bikes are motorized by an electric motor, supporting easy pedaling for users to cover distances in less time. These bikes have gained momentum to be used for trekking and delivery purposes.
Several governments are taking numerous initiatives to reduce carbon footprints, encouraging the adoption of eco-friendly e-bikes. This is mainly because of the harmful impact of conventional vehicles and the fuel reduction.
Moreover, authorities are developing infrastructure to introduce bicycle-friendly streets, growing the demand for electric bikes. Thus, government incentives and increasing preference for e-bike are driving the growth of the e-bike market.
However, the high cost of electric bikes, product recalls, and issues during distribution are impeding the e-bike market's expansion.
The e-bike market is segmented into product, power, application, battery, and drive mechanism.
In terms of product, it is divided into pedelecs, scooter or motorcycle, and throttle on demand. Based on power, it is segmented into above 250 W and less than & equal to 250 W. Further, the application section is divided into cargo, city/urban, and trekking. In terms of battery, it is subdivided into lead acid and lithium-ion. Lastly, drive mechanism is sectioned into mid-drive, hub motor, and others.
Geographically, the Asia-Pacific region holds the largest share in the e-bike market and is likely to continue its stronghold till 2028. E-bikes serve as a low-cost mode of commute in densely populated cities. Moreover, the rising environmental concerns have enhanced the demand for eco-friendly vehicles, influencing the adoption of e-bikes.
Besides, government initiatives to promote the use of electric bikes in major countries, including a decrease in road tax, have increased the demand for electric bikes. Therefore, these factors widen the scope and growth of the e-bike market across the region.
LG Chem, Fuji-Ta Bicycle Co Ltd, Derby Cycle, Jiangsu Xinri E-Vehicle Co Ltd, Stromer, BMZ GmbH, Qwic, Brose Fahrzeugteile Se & Co KG, Samsung SDI Co Ltd, Accell Group, Trek Bicycle Corporation, Panasonic Corporation, Golden Wheel Group, Robert Bosch GmbH, Riese & Mueller, Giant Manufacturing Co Ltd, Shimano Inc, and Vanmoof are well-known companies present in the e-bike market.
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Question & Answer: E-Bike Market
Question 1: What elements are driving the growth of the e-bike market?
Answer: Several governments are taking numerous initiatives to reduce carbon footprints, encouraging the adoption of eco-friendly e-bikes.
This is mainly because of the harmful impact of conventional vehicles and the fuel reduction. Moreover, authorities are developing infrastructure to introduce bicycle-friendly streets, growing the demand for electric bikes. Thus, government incentives and increasing preference for e-bike are driving the growth of the e-bike market.
Question 2: What factors are impeding the e-bike market's expansion?
Answer: The high cost of electric bikes, product recalls, and issues during distribution are impeding the e-bike market's expansion.
Question 3: Which region holds the largest share in the e-bike market?
Answer: Geographically, the Asia-Pacific region holds the largest share in the e-bike market and is likely to continue its stronghold till 2028. E-bikes serve as a low-cost mode of commute in densely populated cities. Moreover, the rising environmental concerns have enhanced the demand for eco-friendly vehicles, influencing the adoption of e-bikes. Besides, government initiatives to promote the use of electric bikes in major countries, including a decrease in road tax, have increased the demand for electric bikes. Therefore, these factors widen the scope and growth of the e-bike market across the region.
Question 4: Which are the well-known companies present in the e-bike market?
Answer: LG Chem, Fuji-Ta Bicycle Co Ltd, Derby Cycle, Jiangsu Xinri E-Vehicle Co Ltd, Stromer, BMZ GmbH, Qwic, Brose Fahrzeugteile Se & Co KG, Samsung SDI Co Ltd, Accell Group, Trek Bicycle Corporation, Panasonic Corporation, Golden Wheel Group, Robert Bosch GmbH, Riese & Mueller, Giant Manufacturing Co Ltd, Shimano Inc, and Vanmoof are well-known companies present 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 expected to display growth during 2019-2028 at a CAGR of 20.95%. It is projected to obtain revenue worth $747.17 billion by 2028.
Electric vehicles are utilized as road vehicles, underwater vessels, and others and are motorized via a collected system. Here, the electric current reaches the vehicle from portable batteries or via charging stations.
Factors such as government policies and growing per capita income are fueling the growth of the electric vehicle market. Moreover, these vehicles have gained significant traction as they are more cost-effective than conventional vehicles.
Furthermore, the rise in lithium-ion battery production and government measures to mitigate greenhouse gas emissions are opening new avenues for the electric vehicle market over the forecast period.
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