Global E-Bike Market Surges towards growth. Will the current industry trends support it?: Ken Research

The market is expected to reach over $50 Bn by 2027. Asia Pacific is expected to lead the market growth alongside favorable government policies.

Electric Bike Market projected to reach over $50 Bn by 2027.
Factors driving growth: policy support, improved infrastructure, environmental awareness.
Technological advancements making e-bikes more accessible and realistic.
As per Ken Research estimates, Asia-Pacific market to lead the industry, followed by Europe and North America.

1. Electric Bike Market projected to reach over $50 Bn by 2027.

Global Battery Powered Bike Market

As per statistics, the electric bike market is expected to undergo substantial global growth in the upcoming years. Valued at $35.69 Bn in 2021, it is projected to reach over $50 Bn by 2027, showcasing a remarkable compound annual growth rate (CAGR) of 12.6%.

2. Factors driving growth: policy support, improved infrastructure, environmental awarenes.

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The growth of the electric bike market is influenced by multiple factors, including increasing policy support and the expansion of e-bike sharing programs. Furthermore, there is a notable improvement in cycling infrastructure, particularly in emerging economies and urban regions.

The rising environmental consciousness among individuals seeking eco-friendly transportation alternatives is also contributing to the market's expansion. To foster this trend, several states have introduced tax incentives to enhance the affordability of e-bike purchases. Additionally, recent legislative efforts in the U.S. Congress aim to promote safer bike infrastructure and greater accessibility to e-bikes.

3. What about Regional Outlook?

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The Asia-Pacific market takes the lead in e-bike growth, fueled by improved bike infrastructure in China. Europe sees a rise in e-bike manufacturing, while North America anticipates significant expansion driven by increased e-bike use in bike shares and a pandemic-driven surge in sales. The region has already recorded a remarkable 145% surge in e-bike sales during the 2020 pandemic, which has significantly expanded the e-bike market in the region.

4. What does the Future hold?

The market's growth is anticipated to be propelled by supportive Government initiatives promoting eco-friendly transportation. However, the lack of adequate infrastructure, including dedicated bike lanes and parking facilities, poses a challenge for accommodating the increasing number of e-bikes in urban areas, as highlighted in the report.

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.