The report “Electric Bike Market by Class, Battery Type (Lithium-ion, Lithium-ion polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage, and Region (Asia Pacific, Europe, North America) – Global forecast to 2025” The global E-Bike Market size is to see a rise to USD 38.6 billion by 2025 from USD 21.1 billion in 2018, growing at a CAGR of 9.0%.
Yamaha Motor Corporation (Japan), Giant Manufacturing Co., Ltd (Taiwan), Accell Group N.V (Netherlands), Aima Technology Group Co., Ltd (China), and Yadea Group Holdings Ltd (China) are the leading players in the e-bike market.
• Government Initiatives to Regulate electric bikes & Improve Infrastructure for electric bikes
• Bike Sharing
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Pedal-assist bikes become the most standard and are expected to witness substantial growth in the E-Bike Market
Electronic bikes are of three types, viz., pedal-assist or electric-assist bike, which are also known as Class I bikes, where the motor is only activated when the pedals are in wave; Throttle-assisted bikes, which are also known as Class II bikes, in which the motor is activated with throttle; and Pedal only motorcycle, also known as Class III bikes, which work as regular bicycles, without the involvement of a motor in it.
Pedal-assist bikes are the most popular among all the other bikes due to the fulfillment of regulations by the automobile in most of countries. A pedal-assist bicycle offers a maximum assisted speed of 20 mph. Throttle-assisted bikes are more suitable for rugged terrain; due to the throttle activation, but it may cause physical damage to trails. Class II bikes commonly don’t fulfill the regulations in many countries, which results in it being less popular in comparison to Class I electric bicycles. Activation of the motor gives propulsion for gaining momentum which makes Class I and Class II bikes better and preferable by people.
Lithium-ion battery to see a substantial rise in the E-Bike Market
The lithium-ion battery has become the most popular among the different types of batteries for an electric bike due to its optimal working. It doesn’t have much weight and has the highest capacity among the existing battery types. Due to its high size, the battery offers a more extended riding range of 40 miles in pedal-assist mode.
Lithium-ion batteries are not only convenient for the user but are also long-lasting and can be charged 800 times in 3 years after virtually using it day-to-day. These batteries are also maintenance-free, which makes it all the more advantageous for the user. The only disadvantage the battery has is expensive; it is available for a cost that varies from $1500 to $3000 and above.
North America is projected to be the fastest-growing market size during the forecast period.
The e-bike market in North America is projected to be the fastest-growing market. It is estimated to grow at a CAGR of 19.77%, by value, during the forecast period. The demand for e-bikes has increased tremendously in Europe and North America due to increased urbanization and consumer desire to move away from cars to alternative mobility such as e-bikes.
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Asia-Pacific to lead in the global Electric Bike Market during the forecast period
Asia-Pacific region governs in the production of electronic bikes due to the presence of rising nations like India, Japan, and China. China has outgrown American sales for electric bicycles after the massive increase in production rate in 2015 and has become the most popular center for electric bikes.
European nations to follow closely behind The Asia-Pacific region in the electric bicycle market due to the high demand for automobiles in the region. The Netherlands especially shows progress in the European Automobile Market, tailed by Austria and Denmark. Portugal is to witness a rise in production due to its flexibility and speed in the market. Electronic bikes have seen a significant amount of decrease in their cost, which make the automobile more affordable and easily accessible to the overall public.
Critical questions the report answers:
• Where will all these developments take the industry in the long term?
• What are the upcoming trends for the E-Bike market?
• Which segment provides the most opportunity for growth?
• Who are the leading vendors operating in this market?
• What are the opportunities for new market entrants?
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