Global Electric Bike Market Size, Share and Trends Analysis, By Product (Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter and Motorcycle), By Drive Mechanism (Hub Motor, Mid-Drive, and Others), By Battery Type (Lead Acid, Lithium-Ion (Li-ion), and Others), Forecast (2022-2028)  

The global electric bike market is estimated to grow at a CAGR of 7.0% during the forecast period. A bicycle with an integrated electric motor drive mechanism and battery that produces power for causing or assisting propulsion is known as an electric bike. Electric bikes with a tiny motor to support the rider’s pedal force to more powerful e-bikes that create enough power to totally operate the bike using throttle are all available globally. Electric bicycles are a versatile, eco-friendly, and fashionable form of transportation. Consumers consider them as a viable alternative to scooters, smart cars, and public transportation. E-bikes support to reduce traffic congestion owing to their reduced size, ability to reach higher speeds with less effort, and health advantages gained from pedaling. These considerations have resulted in an increase in the popularity of electric bikes around the world.

The market growth is expected to be fueled by factors such as government regulations encouraging the use of electric bikes, consumer preference for e-bikes as an environmentally friendly option, rising fuel prices, and increased interest in cycling as a fitness and recreational activity. The expensive cost of e-bikes and ban on their use in key Chinese cities restrain industry growth. Additionally, advancements in biking infrastructure and battery technology are projected to provide profitable prospects for the electric bike industry.

Owing to increased knowledge of the harmful impacts of using cars that operate on fossil fuels, governments of several nations are taking steps to minimize carbon footprints by encouraging the use of electric bikes, electric automobiles, and bicycles. Furthermore, governments are building bicycle-friendly streets to encourage people to use bicycles as their primary form of transportation. Electric bicycles, scooters, and motorbikes have gotten a lot of attention from different governments as reliable and efficient light motor vehicles (LMVs) that support to reduce carbon emissions. Governments all around the world are also supporting the purchase of electric mobility through tax credits and incentives, in order to stimulate the usage of these environmentally beneficial vehicles. For example, the Indian government announced in June 2019 that it would reduce the goods and service tax (GST) on e-vehicles from 12 percent to 5% to encourage the adoption of electric vehicles. Furthermore, government infrastructure such as secured bicycle parking facilities, the construction of more bicycle (express) routes, and the establishment of battery charging stations in several nations considerably increase user acceptance of electric bikes, propelling the global E-bike market.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Product
  • By Drive Mechanism
  • By Battery Type
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Accell Group, Tianjin Golden Wheel Group Co., Ltd., and Trek Bicycle Corp., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Electric Bike Market Report by Segment

By Product

• Pedelecs
• Speed Pedelecs
• Throttle on Demand
• Scooter & Motorcycle

By Drive Mechanism

• Hub Motor
• Mid-Drive and Others

By Battery Type

• Lead Acid
• Lithium-Ion (Li-ion)
• Others

Global Electric Bike Market Report by Region

North America

• US
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle-East and Africa