E-bikes Market to be Worth $88.3 Billion by 2030—Exclusive Report by Meticulous Research®”
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According to a new market research report titled, ‘E-bikes
Market by Propulsion Type (Throttle-assisted and Dual Mode), Class, Power Output,
E-bike Type, Battery Type, Motor Type (Hub Motors and Mid-drive Motors), Structure, Charging Type, Charging Mode, and End
User—Global
Forecast to 2030, the ‘e-bikes market is projected to reach
$88.3 billion by 2030, at a CAGR of 11.9% during the forecast period.
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E-bikes are bicycles with a
battery-powered assist that comes via pedaling and, in some cases, a throttle.
In e-bikes, the motor will get its power from a rechargeable battery mounted
on the bike. E-bikes are a flexible, eco-friendly, and versatile mode of
transport. Users consider them an ideal substitute for smart cars, public
transport, and scooters. It helps minimize traffic congestion due to its reduced
form factor, provides greater speed with marginal effort, and offers various
health benefits.
However, the high cost of e-bikes
and the short lifecycle of batteries restrain the growth of this market. Also,
increasing theft and vandalism of e-bikes and poor cycling infrastructure in
developing countries pose major challenges for the players in this market. Furthermore,
increasing efforts by OEMs to produce lightweight bikes and the increasing
trend of connected e-bikes are the key trends observed in the e-bikes market.
The e-bikes market is segmented by propulsion mode {throttle-assisted and dual mode}, class {class
1, class 2, and class 3}, power output {below 250 W, 250 W–750 W, and more than 750 W}, E-bike type {city e-bikes, adventure e-bikes, sports e-bikes,
delivery/cargo e-bikes, and other e-bike types}, battery type {lithium-ion batteries, sealed lead acid
batteries, lithium-ion polymer batteries, and other battery types}, motor type
{hub motors [geared hub motor and gearless hub motor] and mid-drive motors}, structure
{foldable e-bikes and non-foldable e-bikes}, charging type {connector charging
and wireless charging}, charging mode {plug-in charging, swappable battery,
and solar-powered}, end user {government agencies, academic
institutes/universities, business organizations, micromobility service
providers, commercial & delivery services, individuals, and other end
users}, and geography. The study also evaluates industry competitors and
analyses the market at the regional and country levels.
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Based on propulsion type, the e-bikes market is segmented into throttle-assisted e-bikes and dual-mode e-bikes. In 2023, the throttle-assisted
segment is expected to account for a larger share of the global e-bikes market. The large market share of this segment is mainly
attributed to the rising
demand for throttle-assisted mountain off-road e-bikes for fast climbing, reliability,
and making commuting easy.
Based on class, the e-bikes market is segmented
into class 1, class 2,
and class 3. In 2023, the class 1 segment is expected to account for the largest
share of the global e-bikes market. The large market share of this segment is mainly
attributed due to its flexibility, efficiency, and longer running range than other types
of e-bikes.
Based on power output, the e-bikes market is segmented
into below 250 W, 250 W–750 W, and more than 750 W. In 2023, the below 250 W segment
is expected to account for the largest share of the global e-bikes market. The large
market share of this segment is mainly attributed to the increasing adoption
of e-bikes for urban commuting and recreational activities, rising initiatives
by government authorities for increasing adoption, and increasing investments
by ride-hailing companies for deploying e-bikes for micromobility.
Based on e-bike type, the e-bikes market is segmented
into city e-bikes, adventure
e-bikes, sports e-bikes, delivery/cargo e-bikes, and other e-bike types. In
2023, the city e-bikes segment is expected to account for the largest share
of the global e-bikes market. The large market share of this segment is mainly
attributed to due to the rising government initiatives toward the EV
ecosystem, lower costs, quicker urban commutes, and free parking.
Based on battery type, the e-bikes market is segmented
into lithium-ion
batteries, sealed lead acid batteries, lithium-ion polymer batteries, and other
battery types. In 2023, the lithium-ion batteries segment is expected to
account for the largest share of the global e-bikes
market. The large market share of
this segment is mainly attributed to increasing demand for electric vehicles,
improvement in battery technology, government policies & regulations, and
rising electric micromobility.
Based on motor type, the e-bikes market is segmented
into hub motors and mid-drive
motors. The hub motors segment is further segmented into geared hub
motors and gearless hub motors. In 2023, the hub motors segment is expected to
account for the larger share of the global e-bikes
market. The large market share of
this segment is mainly attributed to the increased performance efficiency of e-bikes,
increasing range, and increasing sales of e-bikes globally.
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Based on structure, the e-bikes market is segmented
into foldable e-bikes
and non-foldable e-bikes. In 2023, the non-foldable E-bikes segment is
expected to account for a larger share of the global E-bikes
market. The
large market share of this segment is mainly attributed to the rising adoption
of e-bikes for short commutes, affordable, and deploying e-bikes for
micromobility.
Based on charging type, the e-bikes market is segmented
into connector
charging and wireless charging. In 2023, the connector charging segment is
expected to account for a larger share of the global e-bikes
market. The large market share of
this segment is mainly attributed due to rising e-bike
sales worldwide, government
policies and subsidies, environmental pollution treated as an alarming issue,
and the lowest charging price of e-bikes.
Based on charging mode, the e-bikes market is segmented into plug-in charging,
swappable battery, and solar-powered. In 2023, the plug-in charging segment is
expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly
attributed to government initiatives to expand the EV charging station
infrastructure and increasing investment by stakeholders of electric mobility
in emerging economies for developing EV charging infrastructure.
Based on end user, the e-bikes market is segmented
into government
agencies, academic institutes/universities, business organizations, micromobility
service providers, commercial & delivery services, individuals, and other
end users. In 2023, the business organizations segment
is expected to account for the largest share of the global e-bikes market. The large
market share of this segment is mainly attributed to the
increasing consumer demand for fuel-efficient and zero tailpipe emission
vehicles, government incentives to promote sales and manufacturing of e-bikes,
tax rebates, the decline in battery costs, and increasing fuel prices.
Based on
geography, the e-bikes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East
& Africa. In 2023, Asia-Pacific is expected to account for the largest
share of the E-bikes market, followed by North America, Europe, Latin
America, and the Middle East & Africa. The rapid growth of this market is
attributed to the increasing demands for a growing number of start-ups
offering numerous solutions and services in the electric mobility industry,
attractive incentive programs for E-bikes buyers, and the presence of regional
core competencies of countries such as China, Japan, South Korea, and India in
manufacturing and technological developments.
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Key
Players:
The key players
operating in the e-bikes market are Robert Bosch
GmbH (Germany), Yamaha Motor Co., Ltd. (Japan), Aima Technology Group Co. Ltd.
(China), Giant Manufacturing Co., Ltd. (Taiwan), Merida Industry Co., Ltd. (Taiwan),
PEDEGO INC (U.S.), Rad Power Bikes Inc. (U.S.), Yadea Group Holdings Ltd.
(China), Aventon (U.S.), Fuji-ta Bicycle Co.,Ltd. (China), Trek Bicycle
Corporation (U.S.), Riese & Müller GmbH (Germany), Leon Cycle Ltd. (U.K.),
myStromer AG (Switzerland), Magnum Electric Bikes (U.S.), Brompton Bicycle Ltd
(U.K.), MAHLE GmbH (Germany), Hero Cycles Ltd. (India), Electric Bike Store
Ltd (U.K.), and Juiced Riders, Inc. (U.S.).
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