The Global E-Bike Market Assessed to Develop at $48.46 Billion by 2028

February 01 17:31 2021
The Global E-Bike Market Assessed to Develop at $48.46 Billion by 2028

E-Bike Market
As per Triton’s research report, the global e-bike market gathered $25.03 billion in 2020, and is expected to register growth at a CAGR of 9.95% by 2028.

As per Triton’s research report, the global e-bike market gathered $25.03 billion in 2020, and is expected to register growth at a CAGR of 9.95% by 2028.

A recent study by Triton Market Research titled ‘Global E-Bike Market’ entails the Global Analysis and Forecasts by Products (Pedelecs, Throttle on Demand, Scooter or Motorcycle), Application (Cargo, City/Urban, Trekking), Drive Mechanism (Hub Motor, Mid-Drive, Others), and by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

E-bikes are bicycles that have electric motor drive mechanism and battery integrated, and are more eco-friendly transportation mode. They are considered to be an ideal substitute for conventional scooters and other public transports.

 

Request Free Sample of the Global E-Bike Market Report @ https://www.tritonmarketresearch.com/reports/e-bike-market#request-free-sample

 

Triton’s research report insinuates that the global e-bike market is likely to develop at a CAGR of 9.95% during the calculated years 2021-2028, garnering revenue worth $48.46 billion by 2028.

The surge in preference for e-bikes and government incentives favoring the market’s growth, are key factors augmenting the progress of the e-bike market globally. Governments in several countries are launching initiatives to reduce their carbon footprints by motivating citizens to opt for electric bikes, electric vehicles, and bicycles. Additionally, countries are focused on constructing bicycle-friendly streets, further influencing the use of bicycles. Thus, such factors are contributing to the growth of the e-bike market across regions. However, the high cost of e-bikes and product recalls, along with problems pertaining to distribution, are negatively impacting the development of the e-bike market.

The e-bike market is divided into products, application, and drive mechanism. Based on products, it is subdivided into pedelecs, throttle on demand, and scooter or motorcycle. Similarly, the application section is further branched into cargo, city/urban, and trekking. Lastly, the drive mechanism is trifurcated into hub motor, mid-drive, and others.

Globally, Asia-Pacific holds the largest market for e-bike, and is anticipated to continue its hold till 2028. The region’s growth is mainly owing to the massive adoption of e-bikes in highly populated countries such as China and Japan. Moreover, China is among the largest manufacturers and exporter of electric bikes, which further adds to the region’s growth. Additionally, consumers are opting for e-bikes than the traditional mode of transport as e-bikes are lightweight, eco-friendly, cost-effective, and requires less power. Above all, government initiatives to boost the use of eco-friendly vehicles and bikes are also likely to influence the demand for e-bikes, thereby propelling the e-bike market on a growth path across the APAC region.

Trek Bicycle Corporation, Accell Group, Derby Cycle, Brose Fahrzeugteile SE & Co KG, Jiangsu Xinri E-Vehicle Co Ltd, Panasonic Corporation, Giant Manufacturing Co Ltd, Fuji-Ta Bicycle Co Ltd, Robert Bosch GmbH, Vanmoof, Stromer, LG Chem, Golden Wheel Group, BMZ GmbH, Riese & Mueller, QWIC, and Shimano Inc are major competitors in this market.       

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/e-bike-market#purchase-option

 

Question & Answer: E-Bike Market

Question 1: What key factors are augmenting the progress of the e-bike market globally ?

Answer: The surge in preference for e-bikes and government incentives favoring the market’s growth, are key factors augmenting the progress of the e-bike market globally.

Governments in several countries are launching initiatives to reduce their carbon footprints by motivating citizens to opt for electric bikes, electric vehicles, and bicycles. Additionally, countries are focused on constructing bicycle-friendly streets, further influencing the use of bicycles. Thus, such factors are contributing to the growth of the e-bike market across regions.

Question 2: What factors are negatively impacting the development of the e-bike market ?

Answer: The high cost of e-bikes and product recalls, along with problems pertaining to distribution, are negatively impacting the development of the e-bike market.

Question 3: Which region holds the largest market for e-bike?

Answer: Globally, Asia-Pacific holds the largest market for e-bike, and is anticipated to continue its hold till 2028. The region’s growth is mainly owing to the massive adoption of e-bikes in highly populated countries such as China and Japan. Moreover, China is among the largest manufacturers and exporter of electric bikes, which further adds to the region’s growth.

Additionally, consumers are opting for e-bikes than the traditional mode of transport as e-bikes are lightweight, eco-friendly, cost-effective, and requires less power. Above all, government initiatives to boost the use of eco-friendly vehicles and bikes are also likely to influence the demand for e-bikes, thereby propelling the e-bike market on a growth path across the APAC region.

Question 4: Which are the major competitors in the e-bike market?

Answer: Trek Bicycle Corporation, Accell Group, Derby Cycle, Brose Fahrzeugteile SE & Co KG, Jiangsu Xinri E-Vehicle Co Ltd, Panasonic Corporation, Giant Manufacturing Co Ltd, Fuji-Ta Bicycle Co Ltd, Robert Bosch GmbH, Vanmoof, Stromer, LG Chem, Golden Wheel Group, BMZ GmbH, Riese & Mueller, QWIC, and Shimano Inc are major competitors in this market.       

 

 

Related Report:

Global Electric Vehicle Market

The global electric vehicle market is anticipated to advance at a CAGR of 20.95% during the reviewed period of 2019-2027, while attaining $747.17 billion in revenue by 2027.

Electric vehicles rely on several electric motors known as traction motors for enabling forward motion. Moreover, they are deployed as electric spacecraft and underwater vessels, among others.

The government policies to promote the use of electric vehicles, cost-effectiveness of e-vehicles than gas-powered vehicles, and surge in per capita income, are prominent factors driving the growth of the studied market. Additionally, increasing R&D spending to develop electric vehicles opens several growth opportunities for the electric vehicle market during the estimated period.

However, the dearth of electric vehicle charging infrastructure, high cost of EVs, and lack of public awareness are factors hampering the electric vehicle market’s development on a large scale.

 

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