E-bike Market to Grow by USD 16.48 Billion (2024-2028), Driven by Sustainability and Environmental Concerns, AI-Powered Report Highlights Market Trends - Technavio

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape -The global e-bike market  size is estimated to grow by USD 16.48 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.95%  during the forecast period. Increasing sustainability and environmental concerns is driving market growth, with a trend towards popularity of connected e-bikes. However, product recalls due to possible failures of e-bikes  poses a challenge.Key market players include Accell Group NV, Avon Cycles Ltd., BH BIKES Europe SL, Cortina Bikes, Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Hero Ecotech Ltd., Kalkhoff Werke GmbH, Klever Mobility Europe GmbH, myStromer AG, PEDEGO Inc., PIERER Mobility AG, Riese and Muller GmbH, SCOTT Sports SA, SHIMANO INC., Trek Bicycle Corp., TVS Motor Co. Ltd., Yamaha Motor Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Key Market Trends Fueling Growth

The E-Bike Market is experiencing significant growth due to the increasing popularity of e-bikes as an eco-friendly solution for commuting and recreation. Fuel prices and global economic slowdown have driven consumers towards electric two-wheelers as an affordable and sustainable alternative to cars. Governments and national regulations are encouraging the use of e-bikes by providing incentives and building bike lanes. E-bike components, including hub motor drives, mid-drive motors, and lithium-ion batteries, are in high demand. Class-II and Class-III e-Bikes are gaining traction, with moped-style e-bikes and cargo e-bikes leading the way. However, the lack of infrastructure, such as bike lanes, is a challenge. Major players in the E-Bike Market Ecosystem include raw material suppliers, component manufacturers, and e-bike manufacturers catering to various modes and types of e-bikes, from mountain biking to crossroad biking. Young adults, males, and females, as well as kids and cyclist organizations, are embracing e-bikes for adventure, fitness, and commuting. E-bikes offer numerous benefits, including reduced CO2 emissions, time savings, and improved air quality. However, regulations and safety concerns, such as noise pollution and motor types, are under scrutiny. Lithium-ion batteries are becoming increasingly popular due to their long-lasting power and low maintenance requirements. E-bike manufacturers like Shimano Inc. Focus on build quality, performance, and pricing incentives to meet the growing demand. With advancements in motor drive technologies and the increasing need for alternative modes of transportation, the E-Bike Market is poised for continued growth. 

The rise of ride-sharing, ride-hailing, and vehicle rental services has significantly boosted the adoption of connected vehicles, including e-bikes. The success of e-bike-sharing services in various regions has given birth to connected e-bikes. Real-time tracking of connected e-bikes is possible for both companies and users. This innovation can enhance the bike-sharing business model and integrate e-bikes into urban mobility as part of Mobility-as-a-Service (MaaS). Once connected to a service network, e-bikes can be easily tracked, booked, and paid for through smartphone applications. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

• The E-Bike Market is experiencing significant growth due to the increasing need for eco-friendly solutions and rising fuel prices. However, challenges such as government regulations, lack of infrastructure like bike lanes, and overstocks of lead acid-equipped e-bikes are hindering market expansion. The popularity of e-bikes among young adults, males, and cyclist organizations for adventure, fitness, and commuting is driving demand. E-bike components, including hub motor drives, mid-drive motors, and lithium-ion batteries, are key areas of focus for market players. E-bike manufacturers face hurdles due to global economic slowdown, inflation, and wars. However, advancements in technologies like lithium-ion batteries and motor drive technologies offer opportunities. The E-Bike Market Ecosystem consists of raw material suppliers, component manufacturers, e-bike manufacturers, and end users. Governments are implementing regulations on e-bikes, with Class-II and Class-III e-Bikes gaining popularity. Lack of infrastructure, especially bike lanes, is a concern. Data gathering and data mining are essential for understanding consumer preferences and market trends. E-bikes offer benefits like reduced CO2 emissions, time savings, and improved air quality. However, challenges like noise pollution and maintenance costs persist. E-bike models cater to various modes and types, including cargo e-bikes and mountain biking. Moped-style e-bikes and off-road sports e-bikes are popular among different demographics, including women and kids. Incentives from governments can boost market growth. The E-Bike Market is expected to continue expanding as an alternative to cars for commuting and a healthier, more sustainable mode of transportation.
• E-bike recalls can occur due to product defects, posing fire, explosion, and burn hazards to consumers. In the past, manufacturers bore the entire cost of recalling affected e-bikes. For instance, in September 2022, the US Consumer Product Safety Commission announced the recall of 3,300 e-bikes. Similarly, in October 2022, approximately 22,000 e-bikes sold by retailers like Amazon, Sears, and Walmart were recalled. However, recent advancements in vendor relationships and collaborations along the upstream value chain have led to cost-sharing arrangements between suppliers and manufacturers during product recalls.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This e-bike market report extensively covers market segmentation by

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

1.1 SLA batteries-  SLA batteries, or Sealed Lead-Acid batteries, are a popular choice for powering electric bikes (e-bikes) due to their affordability and ease of maintenance. These batteries are partially sealed and contain coagulated sulfuric acid electrolyte, making them less maintenance-intensive than traditional lead-acid batteries. However, they have some disadvantages. SLA batteries are heavier and larger than lithium-ion batteries, which impacts the overall weight and handling of the e-bike. They also have a lower energy density and capacity, resulting in a shorter range for the e-bike. Additionally, SLA batteries contain approximately 70% lead, which can pose environmental concerns during manufacturing, usage, recycling, and disposal. Despite these disadvantages, SLA batteries remain a viable option for budget-conscious consumers who prioritize affordability over weight and range. As a result, the SLA batteries segment is expected to maintain its dominance in the global e-bike market due to their low cost and widespread availability.

Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) 

Research Analysis

The e-bike market is experiencing significant growth as more people seek eco-friendly solutions for commuting and transportation. Fuel prices and wars have led to inflation, causing many consumers to look for alternatives to traditional vehicles. Governments are investing in bicycle highway lanes to encourage the use of e-bikes and reduce traffic congestion. However, overstocks of e-bike components, such as lithium-ion batteries, have caused a lack of availability and price fluctuations. E-bikes offer numerous benefits, including quiet operation and reduced noise pollution, making them an attractive option for both individuals and businesses. With advancements in motor technology and the availability of various modes and types, e-bikes are becoming a popular alternative to motorcycles and cars for commuting and cargo transport. Whether you're a rider looking for a lightweight e-bike for personal use or a business seeking a cargo vehicle, there's an e-bike model to meet your needs.

The E-Bike Market has gained significant traction as an eco-friendly solution for personal transportation, especially with the rising fuel prices and increasing concerns over CO2 emissions and air pollution. The popularity of e-bikes has grown rapidly, with various types such as Class-II and Class-III e-Bikes, mopeds, and electric two-wheelers, catering to different needs and modes of travel. However, the market faces challenges due to government regulations, lack of infrastructure like bike lanes, and overstocks of lead acid-equipped e-bikes. The E-Bike Market Ecosystem consists of raw material suppliers, component manufacturers, e-bike manufacturers, and end users. Hub motor drives and mid-drive motors are common motor drive technologies used in e-bikes, while lithium-ion batteries have become increasingly popular due to their long-lasting power and lighter weight. E-bikes offer numerous benefits, including fitness, adventure, and commuting alternatives, making them a preferred choice for young adults, males, females, kids, and even cyclist organizations. The market is also witnessing advancements in technologies, such as connected e-bikes and motor drive systems, which offer features like throttle control and improved performance. Despite the benefits, the market faces challenges such as noise pollution, urbanization, and the need for regulations to ensure safety and maintenance. Governments and national regulations play a crucial role in shaping the market, with incentives and pricing incentives being offered to promote e-bike adoption. The market is expected to continue growing, with the U.S. And other parts of the world showing significant potential for expansion. However, the lack of infrastructure and the need for more regulations may pose challenges to the market's growth. Overall, e-bikes offer a promising alternative to traditional modes of transportation, with numerous benefits for both individuals and the environment.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Battery Type
• SLA Batteries
• Li-ion Batteries
• Propulsion
• Pedal Assist
• Throttle Assist
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED