Global E-Bike Market Anticipated to Surge to $77.6 Billion by 2028: BCC Research

E-bike markets refer to the buying and selling of electric bicycles. These bikes have a motor that assists with pedaling, making them easier to ride than traditional bicycles. The market involves the production, sale, and distribution of e-bikes to consumers worldwide. As interest in sustainable transportation and health-conscious lifestyles grows, the e-bike market has seen significant expansion, with various companies competing to offer innovative designs and features to meet consumer demands.

BOSTON, March 19, 2024 /PRNewswire/ -- "According to the latest research study, the demand for E-Bike: Global Markets expected to grow from $44.9 billion in 2023 and projected to reach $77.6 billion by the end of 2028 at a compound annual growth rate (CAGR) of 11.6% during the forecast period 2023 to 2028."

This report analyzes the global e-bike market from 2023 to 2028, with insights gathered from primary and secondary research. It covers market drivers, COVID-19 impact, and regulatory aspects. E-bikes are bicycles with electric motors and rechargeable batteries, offering travel of 35-50 km at speeds of 20-25 mph. The report focuses solely on e-bikes, excluding electric mopeds or scooters. Presented in an easy-to-understand format with tables and charts, it delves into class, configuration, motor, propulsion, battery types, power, and applications globally and regionally. Each segment's current and projected market size with CAGR is examined. Additionally, it features profiles of key e-bike players and their market strategies, along with a competitive landscape chapter.

In 2022, the average price of lithium-ion batteries was around $150/kWh, with a 5% decrease in battery pack production costs from 2021 to 2022, signaling a continuing decline. E-bikes enhanced with Smart Assist technology offer seamless riding experiences by automatically adjusting assistance levels, akin to vehicles with automatic transmission. The top markets for e-bike sales include China, Germany, the U.S., Japan, and South Korea, contributing over 85% of global revenue.

Discover the insights driving the growth of the e-bike market. Click here to Learn More 

Key Market Drivers of E-Bike Global Markets:

1. Increasing Electric Mountain Bike (e-MTB) Demand: referring to a rising desire among consumers for electric mountain bikes. This means more people are interested in purchasing and using e-MTBs for their outdoor adventures and mountain biking activities.
2. Government Assistance to Boost e-Bike Sales to Reduce CO2 Emissions: means that the government is offering help or support to encourage more people to buy e-bikes. They're doing this because e-bikes produce fewer carbon dioxide (CO2) emissions compared to traditional vehicles, which helps to reduce air pollution and combat climate change.
3. Favorable Subsidies and Programs from the Government: government is implementing supportive measures and initiatives specifically aimed at the e-bike market on a global scale. These measures could include financial subsidies, tax incentives, infrastructure development, or other programs designed to encourage the adoption and growth of e-bikes worldwide.
4. Growing Demand for Clean Energy: indicates an increasing desire for energy sources that are environmentally friendly within the global e-bike market. It suggests that more people are seeking e-bikes as a means of transportation or recreation because they use clean energy and produce fewer emissions compared to traditional vehicles.

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Report Synopsis        

Segmentation Analysis of E-Bike: Global Markets:

By Class: means breaking down the e-bike market into three main types:

•  Class I: These e-bikes help you when you pedal, up to a certain speed.
•  Class II: These e-bikes have a throttle, so you can get assistance without pedaling, also up to a certain speed.
•  Class III: These e-bikes assist you while pedaling, but they can go faster than Class I and II bikes.

By Configuration:  dividing the e-bike market into two types based on their configuration:

•  Regular e-bikes: These are standard e-bikes that don't fold. They're like regular bicycles but with an electric motor to assist pedaling.
•  Folding e-bikes: These e-bikes have a folding mechanism, so they can be compactly folded for easy storage or transportation. They're convenient for people with limited space or those who need to carry their e-bikes on public transport or store them in small spaces.

By Motor Type: categorizing e-bikes based on the type of motor they use:

•  Mid-drive motor: These e-bikes have their motor placed at the bike's center, near the pedals. This design offers better balance and weight distribution, making them suitable for mountain biking or challenging terrain.
•  Hub-drive motor: These e-bikes have their motor located in the hub of one of the wheels, typically the rear wheel. This setup provides a simpler design and is often found in urban or commuter e-bikes.

By Propulsion Type: dividing e-bikes into two categories based on how they provide assistance:

•  Pedal-assisted: These e-bikes provide assistance only when the rider is pedaling. The motor kicks in to make pedaling easier, but the rider still needs to pedal to move the bike forward.
•  Throttle-assisted: These e-bikes have a throttle, similar to a motorcycle or scooter, which can be used to activate the motor without pedaling. The rider can control the speed solely using the throttle, without needing to pedal.

By Battery Type:

•  Lithium-ion battery: These are the most common type of battery used in e-bikes due to their high energy density, lightweight, and long lifespan. They provide a good balance between power and weight.
•  Lead-acid battery: These batteries are heavier and bulkier compared to lithium-ion batteries. They are less common in e-bikes nowadays due to their lower energy density and shorter lifespan.
•  Others (Nickel-Cadmium battery and Nickel Metal Hydride battery): These are older battery technologies that are less commonly used in modern e-bikes due to their lower energy density, heavier weight, and environmental concerns.

By Motor power: The segmentation analysis categorizes e-bikes based on their motor power into four groups: '<250W,' '>250W to <500W,' '>500W to <750W,' and '>750W.' These classifications denote the range of motor wattage, with each category catering to different riding needs and regulations, from city commuting to off-road adventures, with higher-powered options available for heavy-duty tasks or high-performance riding.

By Application: This segmentation analysis divides e-bikes based on their intended use or application:

•  Mountain and trekking: These e-bikes are designed for off-road adventures and rugged terrain. They typically feature robust frames, suspension systems, and durable components to handle challenging trails and mountainous terrain.
•  City or urban commute: E-bikes in this category are tailored for navigating city streets and urban environments. They often prioritize comfort, convenience, and practicality, with features like fenders, lights, and racks for carrying cargo.
•  Commercial purpose: E-bikes intended for commercial use are designed for tasks such as delivery services, cargo transportation, or rental programs. They are built to withstand heavy usage and may incorporate features like larger cargo racks or reinforced frames to accommodate commercial needs.

This report on e-bike: global markets provide comprehensive insights and analysis, addressing the following key questions:

1. What is the projected market size and growth rate of the market?
   
   The global E-bike market was valued at $41.3 billion in 2022 and will reach $77.6 billion by 2028 with a CAGR of 11.6%.
   
   
2. What are the key factors driving the growth of the market?
   
   Growing demand for clean energy.
   Increasing demand for electric mountain bikes (e-MTB).
   Government assistance to boost e-bike sales to reduce CO2 emissions.
   
   
3. What segments are covered in the market?
   
   The E-bike market is segmented based on Class, Configuration, motor, propulsion, battery, motor power, application, and region.
   
   
4. Which segment will dominate the market by the end of 2028 by Class?
   
   The Class I segment will dominate the market by 2028.
   
   
5. Which region has the highest market share in the market? 
   
   Asia-Pacific holds the highest share of the global market.

Some of the Key Market Players Are:

• ACCELL GROUP
• AIMA TECHNOLOGY GROUP CO. LTD.
• FUJI-TA BICYCLE CO. LTD.
• GIANT MANUFACTURING CO. LTD.
• HERO CYCLES LTD.
• KALKHOFF WERKE GMBH
• MERIDA INDUSTRY CO. LTD.
• PEDEGO
• PON HOLDINGS B.V.
• ROBERT BOSCH GMBH
• SHIMANO INC.
• TERN
• TREK BICYCLE CORP.
• YADEA TECHNOLOGY GROUP CO. LTD.
• YAMAHA MOTOR CO. LTD.
• ZWEIRAD-EINKAUFS-GENOSSENSCHAFT GMBH

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