Press release
Electric Bikes and Scooters Market Report: Size, Share, Type, Application And By Ownership, Forecast To 2033
Electric Bikes and Scooters Market Report
The electric bikes and scooters market size is expected to see strong growth in the next few years. It will grow to $39.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to environmental concerns, economic trends, global market expansion, competitive market landscape, infrastructure development, consumer adoption rates. Major trends in the forecast period include urban mobility solutions, regulatory support and incentives, rising environmental awareness, last-mile connectivity, consumer preferences and customization.
Market Overview -
Electric bicycles, often known as e-bikes or eBikes, are motorised bicycles with built-in electric motors that help with propulsion. Electric scooters frequently resemble motorcycles and are plug-in electric vehicles with two or three wheels and an electric motor.
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Environmental Awareness With Electric Bikes And Scooters Market
Increasing awareness about pollution is a key driver of the electric bikes and scooters market. This is because more people now understand the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimize and control pollution. For example, according to a survey published by Forbes, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded those of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change.
Competitive Landscape -
Major companies operating in the electric bikes and scooters market report are Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Suzuki Motor Corporation, Mahindra & Mahindra Limited, Polaris Industries Inc., Govecs AG, Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., AIMA Technology Co. Ltd., Alta Motors, Trek Bicycle Corporation, Dongguan Tailing Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Energica Motor Company S.p.A., Gogoro Inc., KTM AG, Yamaha Motor Co. Ltd., Vmoto Limited, Zero Motorcycles Inc., Tianjin Golden Wheel Group Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Terra Motors Corporation, Aventon Bikes, Z Electric Vehicle Corporation, Fuji-Ta Bicycle Co. Ltd., Prodeco Technologies LLC, Bionx International Corporation, Zhejiang Luyuan Electric Vehicle Co. Ltd., Amego Electric Vehicles Inc., Shandong Incalcu Electric Vehicle Co. Ltd., Cowboy Electric Bikes, Lyft Inc., Keego Mobility Co. Ltd., Rad Power Bikes, Volt Motorcycles Ltd., Karbon Kinetics Limited, Raleigh Bicycle Company, Piaggio & C. SpA, Ather Energy Private Limited, Brammo Inc., Evoke Electric MotorcyclesLtd., Lightning Motorcycle Corp., Derby Cycle Holding GmbH, Riese & Müller GmbH, Stromer Electric Bikes
Advancements In Battery Technology For Electric Bikes And Scooters Market
Improving battery technology is an emerging trend in the electric bikes and scooters market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes.
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Key Segments -
The electric bikes and scooters market covered in this report is segmented -
1) By Product: Electric Bikes, Electric Scooters
2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Other Batteries
3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V
4) By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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