The Global E-Bike Market to Grow at CAGR of 9.95% by 2028

Triton Market Research presents the Global E-Bike Market segmented by Drive Mechanism (Mid-Drive, Hub Motor, Others), Application (Trekking, City/Urban, Cargo), Power (Above 250 W, Less than & Equal to 250 W), Product (Throttle on Demand, Scooter or Motorcycle, Pedelecs), Battery (Lead Acid, Lithium-Ion), and by Geography (Middle East and Africa, North America, Latin America, Asia-Pacific, Europe). The report further discusses the Market Summary, Industry Outlook, Key Insights, Impact of COVID-19, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Based on Triton's report, the global e-bike market is envisioned to witness growth in terms of revenue at a CAGR of 9.95% over the forecasted period 2021-2028.

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Electric bikes are eco-friendly modes of transport that assist the user in easy pedaling and are powered by an electric motor. They are widely used for trekking, cargo, or leisure purposes.
In recent years, the growing e-commerce services have enhanced the demand for e-cargo bikes across various countries. Moreover, these bikes are widely gaining traction for covering short distances for delivery, including food deliveries. Hence, the growing use of e-bikes for delivery purposes opens new avenues for the e-bike market. Additionally, the use of e-bike as a solution to growing fuel prices adds to the studied market's progress.

However, the high cost of e-bikes, product recalls, and problems related to distribution hamper the overall growth of the e-bike market.

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The Asia-Pacific holds the largest market for e-bike globally. Among the countries, China has gained a significant share in the studied market, owing to the high population base. Moreover, the country has emerged as one of the largest manufacturers and exporters of e-bikes. Furthermore, the demand for electric bikes has grown in other nations as they are eco-friendly, lightweight, and cost-effective. Besides, the increase in initiatives to promote the use of eco-friendly vehicles is likely to fuel the adoption rate of electric bikes.

Therefore, as stated above, these factors play a significant role in driving the e-bike market on a growth path across the APAC region.
The distinguished companies in the e-bike market include Vanmoof, Robert Bosch GmbH, Qwic, Shimano Inc, Giant Manufacturing Co Ltd, Panasonic Corporation, Riese & Mueller, Samsung SDI Co Ltd, Derby Cycle, Jiangsu Xinri E-Vehicle Co Ltd, Brose Fahrzeugteile Se & Co KG, LG Chem, Trek Bicycle Corporation, Fuji-Ta Bicycle Co Ltd, Golden Wheel Group, Accell Group, BMZ GmbH, and Stromer.

Several manufacturers are expanding their operations across major regions to avoid import charges. Moreover, traditional vehicle manufacturers can enter the market with less capital investment compared to new market players. This makes the threat of new players low. Furthermore, numerous existing players are adopting new technologies to attain a competitive edge in the market. Besides, manufacturers are striving to decrease the cost of motors and batteries over the next few years. Hence, the competition level is likely to remain moderate over the forecast period.

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