E-bike Market size to increase by USD 16.48 Billion between 2023 to 2028, Market Segmentation by Battery Type, Propulsion, Geography , Technavio

NEW YORK, Dec. 15, 2024 /PRNewswire/ -- The global e-bike market size is estimated to grow by USD 16.48 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.95% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. Battery Type
• 1.1 SLA batteries
• 1.2 Li-ion batteries
2. Propulsion 
• 2.1 Pedal assist
• 2.2 Throttle assist
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

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1.1 Fastest growing segment:

SLA batteries, also known as sealed lead-acid (SLA) batteries or gel cells, are a common choice for electric bikes (e-bikes) due to their affordability and ease of maintenance. These batteries have a coagulated sulfuric acid electrolyte and are partially sealed, with vents to release gases formed during overcharging. SLA batteries are heavier and larger than lithium-ion batteries, impacting the overall weight and handling of the e-bike. They also have a lower energy density and capacity compared to lithium-ion batteries. Despite these functional disadvantages, SLA batteries remain popular due to their low cost and wide availability. However, they contain 70% lead, which can negatively impact the environment during manufacturing, usage, recycling, and disposal. The SLA batteries segment is expected to maintain its leading position in the global e-bike market due to their affordability and accessibility.

Analyst Review

The e-bike market is experiencing significant growth as more people seek eco-friendly solutions for commuting and transportation. Fuel prices and environmental concerns are driving the demand for electric bicycles, which offer a cost-effective and sustainable alternative to cars and motorcycles. Governments around the world are investing in bicycle highway lanes and incentives to encourage the use of e-bikes, reducing traffic congestion and noise pollution. E-bikes come in various types and modes, including cargo bikes, mountain bikes, and commuting models. Their benefits include the ability to tackle hills and long distances with ease, thanks to powerful motors and lithium-ion batteries. Consumers appreciate the lack of need for a driver's license or insurance, as well as the low weight and ease of use. Despite the advancements in e-bike technology, there are challenges, such as regulations, overstocks, and the occasional lack of infrastructure. However, the market continues to evolve, with new models and components, such as throttle controls, being introduced regularly to meet the needs of riders. Overall, e-bikes offer a versatile and efficient transportation solution for people looking to reduce their carbon footprint and save money on fuel costs.

Market Overview

The E-Bike Market is experiencing significant growth as more people seek eco-friendly solutions for transportation due to rising fuel prices and government regulations aimed at reducing CO2 emissions and air pollution. The popularity of e-bikes is on the rise, especially among young adults, males, and cyclist organizations, as they offer a convenient and cost-effective alternative to cars for commuting and recreational activities like mountain biking, off-road sports, and adventure. However, the market faces challenges such as a lack of infrastructure, including bike lanes, and regulatory hurdles in various countries. The E-Bike Market Ecosystem consists of raw material suppliers, component manufacturers, e-bike manufacturers, and end users. The market offers various types of e-bikes, including Class-II and Class-III e-Bikes, mopeds, and cargo e-bikes, powered by hub motor drives or mid-drive motors and lithium-ion batteries. The market is also witnessing advancements in technologies, such as connected e-bikes, and new modes of transportation, such as e-bike sharing services. Governments worldwide are offering incentives to promote the adoption of e-bikes and e-scooters to reduce congestion and carbon footprints. Despite these advantages, challenges such as the lack of standardization, safety concerns, and competition from traditional modes of transportation, such as motorcycles, persist. The E-Bike Market is expected to continue growing, driven by increasing consumer awareness of the health benefits, maintenance advantages, and environmental friendliness of e-bikes. The market is expected to face competition from traditional bicycles and motorcycles, as well as new entrants, such as electric scooters and mopeds. The market is also witnessing a shift towards more advanced features, such as throttle control, better build quality, and performance pricing incentives. The E-Bike Market is expected to continue growing, driven by increasing consumer awareness of the health benefits, maintenance advantages, and environmental friendliness of e-bikes. The market is expected to face competition from traditional bicycles and motorcycles, as well as new entrants, such as electric scooters and mopeds. The market is also witnessing a shift towards more advanced features, such as throttle control, better build quality, and performance pricing incentives. Despite the challenges, the E-Bike Market is poised for growth, driven by the need for sustainable transportation solutions, government regulations, and consumer demand. The market is expected to witness significant advancements in technologies, such as motor drive technologies, battery technologies, and connectivity features, which will make e-bikes more accessible, affordable, and convenient for consumers. In conclusion, the E-Bike Market is an exciting and dynamic space, driven by the need for sustainable transportation solutions, consumer demand, and government regulations. The market offers a range of e-bike types, from city/urban e-bikes to cargo e-bikes, and is witnessing significant advancements in technologies, such as motor drive technologies, battery technologies, and connectivity features. Despite the challenges, the market is expected to continue growing, driven by the benefits of e-bikes, such as cost savings, health benefits, and environmental sustainability.

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 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio