Electric Bicycle Market To Reach USD 52.36 Billion With 16.0%
Pune, India, September 28, 2021 (GLOBE NEWSWIRE) – According to the report, Electric bicycle market size is expected to reach USD 52.36 billion at 16% CAGR by 2026. Growing technological innovations coupled with growing awareness of the efficiency, environmental friendliness and convenience of electric mopeds may have an excellent impact. impact on market growth, says Fortune Business Insights, in a report titled “Electric Bicycle Market, 2021-2028.” The market size was USD 16.86 billion in 2020.
Sales of e-bikes have seen a significant increase, which started before the COVID-19 problem but accelerated after the pandemic-induced lockdown. According to a report published by the World Economic Forum (WEF), sales of electric bikes in the United States increased by 145% in 2020 compared to 2019. According to the NPD Group, sales of electric mopeds with average selling prices above USD 1,000 increased by 190.% in June 2020 compared to June 2019. As a result, the epidemic has accelerated the demand for electric mopeds.
By type of propulsion, the market is segmented into pedal assistance and accelerator. The pedal assist segment is expected to hold the largest share of the e-bike market due to its longer battery life, reduced maintenance requirements, and the ability to switch to five modes. pedaling assistance.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/electric-e-bike-market-102022
Based on the type of battery, the market is segmented into lead-acid, lithium-ion, nickel-metal hydride, and others. The lead-acid segment is expected to account for a large share due to its low cost and easy recycling. Geographically, the market is categorized as North America, Europe, Asia Pacific, Middle East, and Africa.
The ecology of public transport includes shared micromobility. As a flexible transport alternative with minimal operating and overhead costs, shared electric micro-mobility can complement larger fixed-route public transport systems by providing mobility services for many trips to and from. a reduced price per traveler. The North American Bikeshare and Scootershare Association (NABSA) released its annual report on the health of shared micromobility activity in August 2021.
According to research, North Americans made 83.4 million trips in shared micromobility cars in 2020, accounting for more than half of all trips in 2019. More than a third of all trips were made on electric scooters. Pedal bikes and e-bikes accounted for more than two-thirds of all trips. Despite the decrease in all other commuting patterns, the number of e-bike rides fell from 7 million to almost 10 million during the COVID-19 outbreak. As a result, the increasing acceptability of UBI by consumers will propel this market in the years to come.
Click here to learn about the short and long term impacts of COVID-19 in this market. Please visit: https://www.fortunebusinessinsights.com/electric-e-bike-market-102022
Increased sales of e-bikes to increase growth in North America
In 2020, Asia-Pacific was worth $ 8.72 billion, with China accounting for the majority of the market share. The dominance is attributed to factors such as extensive cycling infrastructure in established and emerging countries such as China and Japan, high congestion in cars and public transport, and increasing stringency of pollution laws for e-bikes.
The European market is expected to develop significantly. In July 2021, the European Union Heinrich-Böll-Stiftung published the second edition of the European Atlas of Mobility. According to the research, manufacturers and parts of electric mopeds operate in 23 of the 27 EU member countries. Around 900 small and medium-sized enterprises (SMEs) employ around 120,000 people and invest more than one billion euros in research and development. The North American market is also expected to grow rapidly. According to the NABSA, the number of bike sharing systems that use electric bicycles has increased from 28% in 2019 to 44% in 2020. Several cities, including Washington, DC, New York and San Francisco, have reduced restrictions speed, blocked cars lanes, and built dedicated bike lanes. The increase in sales of electric mopeds can be attributed to these causes.
The Accell group dominates the market
The Accell group is a major player in the electric bicycle industry. The company employs around 3,100 people in 15 different countries. In addition, the company’s motorcycles and related products are offered to customers and dealers in more than 80 countries.
Quick Buy Electric Bikes Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102022
Main key players studied in the report:
- Giant Bicycles (Taichung City, Taiwan)
- Energica Motor Company (Modena, Italy)
- Accell Group (Heerenveen, The Netherlands)
- Robert Bosch GmbH (Gerlingen, Germany)
- Derby Cycle Holding GmbH (Cloppenburg, Germany)
- Pedego Electric Bikes (California, United States)
- Panasonic Corporation (Osaka, Japan)
- Mahindra & Mahindra Ltd. (Mumbai, India)
- Trek Bicycle Corporation (Wisconsin, USA)
- Bionx International Corporation (Ontario, Canada)
- Shimano Inc. (Osaka, Japan)
- VanMoof (Amsterdam, Netherlands)
HDo you have a query? Ask our experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/electric-e-bike-market-102022
Global segmentation of the electric bicycle market:
By type of propulsion:
By battery type:
- Nickel metal hydride
- North America (United States and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, Southeast Asia and the rest of Asia-Pacific)
- Latin America (Brazil, Mexico and the rest of Latin America)
- Middle East and Africa (South Africa, GCC and rest of Middle East and Africa)
Get your personalized research report: https://www.fortunebusinessinsights.com/enquiry/customization/electric-e-bike-market-102022
Fortune Business Insights ™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions to our clients, helping them meet the specific challenges of their businesses. Our goal is to provide our clients with comprehensive market information, giving them a granular overview of the market in which they operate.
Our reports contain a unique blend of tangible information and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use cutting-edge research tools and techniques to compile comprehensive market research, interspersed with relevant data.
At Fortune Business Insights ™, we aim to highlight the most lucrative growth opportunities for our clients. We therefore offer recommendations allowing them to navigate more easily in technological and market-related developments. Our consulting services are designed to help organizations identify hidden opportunities and understand dominant competitive challenges.
Fortune Business Insights ™ Pvt. Ltd.
308, Supreme Headquarters,
Investigation n ° 36, Baner,
Pune – 411045, Maharashtra, India.
United States: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
E-mail: [email protected]
Fortune Business Insights ™
LinkedIn | Twitter | Blogs