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Electric Bikes Global Market Analysis, Trends, Growth, Research And Forecast 2033
Electric Bikes Global Market
The Business Research Company offers in-depth market insights through Electric Bikes Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The electric bike market size has grown rapidly in recent years. It will grow from $49.54 billion in 2023 to $56.79 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to environmental awareness, government incentives and policies, urbanization and traffic congestion, consumer interest in health and fitness, cost savings on transportation.
The electric bike market size is expected to see rapid growth in the next few years. It will grow to $96.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to cultural shift towards electric mobility, rise of sharing and rental services, product innovation and design diversity, global sustainability focus, rising fuel costs and economic benefits. Major trends in the forecast period include e-bike subscription and ownership models, market entry of new players, environmental sustainability messaging, focus on lightweight designs, customization and personalization.
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Market Segmentation:
The electric bikes global market covered in this report is segmented -
1) By Class: Class-I, Class-II, Class-III
2) By Motor Type: Mid Motor, Hub Motor
3) By Battery Type: Lead Acid, Lithium ion (Li-ion), Nickel-Metal Hydride (NiMH), Other Battery Types
4) By Application: Mountain Or Trekking, City Or Urban, Cargo, Other Applications
Major Driver - Government Regulations Spur Electric Bike Market Growth Worldwide
The implementation of government regulations to encourage the use of electric bikes is expected to propel the growth of the electric bikes market in the coming years. Electric bikes have a longer range and are easier to use, allowing users to travel without sweating, pull bigger loads, run more errands, and take longer journeys. For instance, in 2021, the FAME India Scheme (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles) was implemented with a budget of $1.36 billion and it focuses on the electrification of public and shared transportation. Furthermore, in 2021, the California state budget committed $10 million to the Air Resources Board to implement the e-bike rebate program by July 2022. Therefore, the implementation of government regulations to encourage electric bikes drives the electric bikes market.
Competitive Landscape:
Major companies operating in the electric bikes global market report are Panasonic Corporation, Yamaha Motor Company, Mahindra & Mahindra Limited, Pon Holdings BV, Giant Manufacturing Co. Ltd., Pon Bicycle Holding B.V., Yadea Group Holdings Ltd., Accell Group NV, Trek Bicycle Corporation, Merida Industry Co. Ltd., Tianjin Golden Wheel Bicycle Group Co. Ltd., FRITZMEIER Systems GmbH & Co. KG, Specialized Bicycle Components Inc., Cube Bikes GmbH, Derby Cycle AG, Derby Cycle Holding GmbH, Brompton Bicycle Ltd., Beistegui Hermanos S.A., VanMoof, Koninklijke Gazelle N.V., Pedego Electric Bikes, Cannondale Bicycle Corporation, Electra Bicycle Company, BionX International Corporation, Focus Bikes GmbH, Gocycle Limited, Klever Mobility Europe GmbH, Tianjin Fuji-ta Group, Bulls Bikes GmbH, KTM Fahrrad GmbH, Cycles Lapierre S.A.S., M1-Sporttechnik GmbH & Co. KG, Orbea S. Coop. Ltda., Pivot Cycles LLC
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Top Trend - Cutting-Edge Commuter E-Bike Redefining Practical And Efficient Urban Transportation
Major companies operating in the electric bike market are developing innovative products such as commuter e-bike, to provide reliable services to customers. A commuter e-bike, also known as an electric commuter bike, is a specialized type of electric bike designed specifically for practical and efficient urban transportation. For instance, in September 2022, Pedego introduced a new electric bike model, Pedego Avenue. Pedego Avenue is a commuter e-bike available in two frame styles and sizes, featuring a 28" 6061-T6 aluminum alloy frame with an integrated downtube battery and semi-internal cable routing. It is equipped with PedalSense 5 levels of pedal assist, an LCD display, adjustable handlebars, sturdy double-wall wheels with heavy-duty spokes, and a twist-and-go throttle for full power on demand.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Bikes Market Characteristics
3. Electric Bikes Market Trends And Strategies
4. Electric Bikes Market - Macro Economic Scenario
5. Electric Bikes Market Size And Growth
…..
27. Electric Bikes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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