Electric Bicycle Market – Size, Key Manufacturers, Developments, Trends and Analysis | MarketsandMarkets
Electric Bike Market by Mode (Throttle, Pedal Assist), Engine Type, Class, Use (Mountain/Touring, City/Urban, Freight), Speed, Component, Battery Type, and Region
NORTHBROOK, ILLINOIS, USA, April 8, 2022 /EINPresswire.com/ — The e-bike market is expected to reach $79.7 billion by 2026 from $47.0 billion in 2021, with a CAGR of 11 .1%. The growth of the e-bike market is driven by increasing traffic congestion, growing interest in cycling as a fitness and leisure activity, and consumer inclination towards an eco-friendly solution for commuting.
Asia-Pacific leads the global e-bike market, followed by Europe and North America. Due to the increase in traffic, people in the Asia-Pacific region mainly prefer urban/urban e-bikes for commuting. However, in Europe, mountain e-bikes are popular due to growing consumer interest in mountain touring activities. In North America, there is a growing demand for urban/urban e-bikes for daily commuting, leisure and fitness activities.
OPPORTUNITY: Trend towards connected electric bikes
With the growing demand for e-bikes, there are technological advancements in the field of e-bikes. The connected e-bike is one such advancement, in which the SIM module allows the e-bike to send and receive data to and from the cloud without a connected smartphone. Some of the important features offered by the connected e-bike include automatic emergency calls, built-in navigation, social media connection, an anti-theft system, and remote diagnostics. Bosch is one of the major players in the e-bike market, offering connected e-bike solutions. For example, Bosch’s Smartphone Hub can connect e-bikes to a smartphone and support cyclists before and after their ride. Bosch’s premium Lock function also turns the connected Kiox on-board computer into a key for added security. Nyon from Bosch determines the force and frequency of pedaling during the ride and uses this information to calculate the performance and energy consumption of the cyclist. On platforms such as komoot, which is integrated into the COBI.Bike app, millions of users can exchange information with each other and discover new routes with recommendations and advice from the community.
Top 10 Players:-
Accell Group NV, Giant Manufacturing Co. Ltd., Pon. Bike, Yamaha Motor Company, Merida Industry Co. Ltd., Specialized Bicycle Components, Inc., Pedego Electric Bikes, Yadea Group Holdings Ltd., Trek Bicycle Corporation and Koito Manufacturing Co., Ltd.
Additional Regional Players:-
Hero Lectro E-Cycles, Fuji-ta Bicycle Co., Ltd., Electric Bike Company, Rad Power Bikes Llc, Vanmoof, BH Bikes, Brompton Bicycle Ltd., Riese & Müller Gmbh, Stormer, Cowboy.
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Asia-Pacific is expected to be the largest regional market
Asia-Pacific was the largest e-bike market in 2020, and China was the largest market in the region, with a share of around 97%, by volume, of the Asia-Pacific e-bike market . The e-bike market in the Asia-Pacific region has evolved over the years. Japan was the first country to introduce electric bicycles. The region is home to major e-bike manufacturers and component suppliers, such as Giant Manufacturing, Merida, AIMA, Yadea Group, Panasonic, Shimano, and Yamaha Motor Company. City/urban bikes are mainly used by professionals and teenagers for daily commuting in the region. In this region, India, Japan, South Korea and Taiwan are potential markets due to the increase in e-bike sales in these countries.
The lithium-ion battery segment is expected to dominate the e-bike market
The lithium-ion battery segment, by battery type, is the largest segment, as lithium-ion batteries are currently preferred in electric bicycles. These batteries are smaller, last longer and have a better power-to-weight ratio than other batteries.
Mountain/Trekking Electric Bikes Segment By Use Is Expected To Be The Fastest Growing Market
The demand for mountain/touring e-bikes is growing rapidly as consumers show more and more interest in hiking and recreational activities. There is a growing interest in performance-based adventure sports, which in turn is increasing the demand for mountain/trekking e-bikes. Sports and physical activities are becoming more and more adaptable thanks to electric motors. In many countries, mountain e-bikes are not only used for mountain tours, but also for daily commuting. The main reason for the growing popularity of electric mountain bikes is their sturdiness.
Class I segment is expected to be the largest segment during the forecast period
Class I segment, by class type in e-bikes, is expected to be the largest segment during the forecast period as Asia-Pacific countries. which are a major market for e-bikes, such as China, Japan, South Korea and Taiwan, only allow Class I e-bikes. As a result, Class I e-bikes occupy the largest share market in the Asia-Pacific region.
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Main segments: –
Electric Bike Market By Class:
1. CLASS I
E-bike market, by speed:
1. Up to 25 km/h
Electricity market, by type of battery:
2. Lithium ion polymer
3. Lead Acid
Electric bicycle market, by engine type:
Electric bicycle market, by mode:
1. Pedal assist
Electric Bike Market, By Components:
2. Electric motors
3. Frame with fork
5. Crank sprockets
6. Braking systems
Electric bicycle market, by use:
E-bike market, by ownership:
Electric bicycle market, by region:
3. North America
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