E-Bike Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2020 - 2030
E-Bike Market: Overview
Bicycles have been the companions of the global populace for a long period. As time passed, extensive advancements were made to the bicycles for offering enhanced convenience to the users. The popularity of bicycles has also skyrocketed exponentially over the years.
Rising awareness about the importance of controlling pollution levels and the growing need for maintaining fitness levels is expected to increase the demand for bicycles greatly. Electric bicycles are also gaining good traction owing to their large-scale benefits. All these aspects will bring immense growth opportunities for the e-bike market during the forecast period of 2020-2030.
E-bikes use rechargeable batteries that have the potential to travel up to 25-45 km/h. This speed is more than the average cycling speed. They offer affordable, emission-free, and energy-efficient transportation. In addition, the pedals of the bicycle are battery-assisted to provide comfort while traveling. All these benefits bode well for the growth of the e-bike market.
Various types of batteries are used in e-bikes. Some of the prominent battery types are nickel-metal hydride, lead-acid, lithium-ion, and others. On the basis of propulsion, the e-bike market can be segmented into throttle and pedal assist. E-bikes are estimated to become one of the preferred modes of transportation in the future and this factor will invite good growth prospects for the e-bike market.
E-Bike Market: Competitive Insights
The e-bike market is highly competitive with many players in the fray for obtaining a prominent position. The players indulge in research and development activities for developing e-bikes that are more appealing to the users. The activities eventually improve the revenues and ultimately help in increasing the growth prospects.
Some well-established players in the e-bike market are Energica Motor Company, Robert Bosch GmbH, Shimano Inc., Panasonic Corporation, and Pedego Electric Bikes.
E-Bike Market: Notable Developments
The e-bike market is observing various developments due to the rising popularity among a considerable chunk of the global populace. Here are some of the major developments that could propel the growth of the e-bike market.
Such developments help in bringing good growth opportunities for the e-bike market.
E-Bike Market: Key Trends
E-Cargo Bikes to Add Extra Stars of Growth
The popularity of e-cargo bikes is increasing at a rapid rate. Short tail e-cargo bikes are creating ripples across the e-bike market. Tern, an e-bike manufacturer recently launched a GSD e-cargo bike with novel features. These developments serve as growth generators for the e-bike market.
Lightweight Bikes Attracting More Demand
Manufacturers in the e-bike market are trying to reduce the weight of the e-bikes to offer more flexibility and convenience to the users. Scott Addict eRide, a creation of Scott bicycles is its lightest e-bike weighing just 10.75 kg. 3D printing is enabling the players in the e-bike market to increase their initiatives regarding the lightweight development of e-bikes.
E-Bike Market: Regional Dimensions
Asia Pacific’s e-bike market is expected to reign supreme across the assessment period of 2020-2030. The emergence of China as a global e-bike manufacturing hub will serve as a vital growth-generating factor. Europe’s e-bike market is also expected to observe rapid growth due to the stringent emission norms imposed across various countries.
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