E-Bike Market is projected to rise at 11.1% during 2022-2029, reaching USD 97.7 billion by 2029 | Size, Share, Growth & Forecast

E-Bike Market was valued at USD 42.1 billion in 2021 and is estimated to register a double digit CAGR of 11.1% during the Forecast period 2022-2029 and is projected to reach USD 97.7 billion in 2029.

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The factors driving growth of the E-Bike Market includes increasing focus on reducing carbon emissions around the world, rise in Government's expenditure on expand the cycling infrastructure worldwide, growing demand for environment friendly transportation systems and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, increasing concerns related to sustainable use of resources such as oil (petroleum) and natural gas, rise in consumers spending on recreational activities and rapid urbanization, are some of the additional factors supplementing the E-Bike Market size. In addition, growing consumers inclination towards sports and fitness related activities, rising investments by companies on research and development, increase in the launch of innovative products and strategic collaborations between key players, are further contributing towards the market growth.

However, growth of the E-Bike Market is hindered attributed to increasing costs of batteries and motors worldwide.

The prominent players operating in the market are Robert Bosch GmbH, MERIDA BIKES, AIMA TECHNOLOGY CO., LTD., ITALJET SPA, Pedego Electric Bikes, Accell Group, Derby Cycle, JIANGSU XINRI E-VEHICLE CO., LTD., Bionx International Corporation, Giant Bicycles and Pon, among others.

Based on Speed, the 25-45Kmph segment is predicted to grow at a significant CAGR over the forecast period

The 25 to 45 km/h bicycles are quicker as compared to other bicycles, rise in traffic congestion in cities and increase in middle income population, are some of the factors pushing growth of the segment.

Based on Class, the Class-III segment is projected to capture the largest market share during the forecast period

Increasing use of class 3 electric bicycles for sports related activities and rise in the launch of new products, are propelling segment's growth.

Based on Region, the European region is estimated to hold the highest market share over the forecast period

Presence of the leading players such as Accell Group, Robert Bosch GmbH and ITALJET SPA, growing emphasis on reducing carbon footprints, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the European region.

Key Developments

In 2020, Giant bicycles developed Anthem Advanced Pro 29 XC bike, which is a superlight full-suspension XC chassis engineered with Advanced Composite material.
In 2020, Robert Bosch GmbH inaugurated its APAC headquarters in Taiwan, which helped them to strengthen their position in the international market.

Market Segmentation

Segmentation by Battery Type

Lithium-Ion
Lithium-Ion Polymer
Lead Acid
Others

Segmentation by Speed

Up to 25kmph
25-45Kmph

Segmentation by Class

Class-I
Class-II
Class-III

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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