Global E-Bike Market to Grow at a CAGR of 5.90% During 2024-2032, Aided by the Focus on Achieving Decarbonisation and Supportive Government Initiatives

E-bikes have emerged as a superior alternative to conventional bicycles and offers users the ability to cover longer distances effortlessly and more frequently, making them an attractive option for those with limited mobility. The cost-effectiveness of e-bikes compared to cars, along with advancements in battery technology, lightweight motors, and bicycle components, has led to their widespread adoption as an eco-friendly and convenient mode of transportation.

The global e-bike market is expected to grow due to the increasing focus on decarbonisation. The rising concerns about climate change have increased the demand for eco-friendly transportation options. E-bikes are considered a greener alternative to traditional gas-powered vehicles. The market for e-bikes is supported by increasing government efforts to promote the adoption of sustainable mobility solutions, offering purchase incentives, interest subventions, road tax exemption, and subsidiaries, to EV owners. For instance, the Indian government has launched E-AMRIT, offering incentives for electric vehicles, including 2-wheelers, 3-wheelers, 4-wheelers, and electric buses.

In addition, technological advancements and the adoption of AI in e-bikes are attracting consumers by ensuring improved driving experience. For instance, in September 2023, Smalo launched a new AI-powered smart e-bike. The smart e-bike is equipped with the proprietary G2 intelligent technology developed by BESV. Moreover, in growing markets, manufacturers are significantly expanding their production capabilities and are launching new products to meet growing demands. In January 2024, Vinfast launched the Drgnfly electric bike in the United States to offer riders a unique experience, while ensuring improved access to electric mobility for everyone.

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Market Breakup by Mode, Motor Type, Battery Types, Class, Design, Application, and Region:

• The market is segmented based on mode into throttle and pedal assist.

• By motor type, the market is categorised into hub motor and mid drive, among others.

• The market is divided on the basis of battery type into lead acid, lithium ion, and nickel-metal hydride (NiMH), among others.

• By class, the market is segmented into class I, class II, and class III.

• The different designs available in the market include foldable and non-foldable e-bikes.

• Based on application, the market can be divided into mountain/trekking bikes, city/urban, and cargo, among others.

• Region-wise, the global market for e-bikes can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for e-bikes is being driven by the growing popularity of electric vehicles due to  increasing commitment to  ecarbonization and the need to lower carbon emissions.

• The growing government support in the form of subsidiaries, purchase incentives, coupons, interest subventions, and road tax exemption are paving the growth trajectory for the market.

• Upsurge in technological advancement is notably strengthening the research and development in the field of e-bikes.

• The growing technological integration such as the AI-powered e-bikes that promise improved performance and enjoyable rides is expected to aid the market development.

Key Offerings of the Report:

• The EMR report gives an overview of the global e-bikes market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the mode, motor type, battery types, class, design, application, and major regions of e-bikes.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the e-bike market are Accell Group, BionX International Corporation, Robert Bosch GmbH, Yamaha Motor Co., Ltd., and Derby Cycle, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of major players.

Key Highlights of the Report

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