Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Electric Bike Market to Grow at a CAGR of 9.80% During 2022-2027, Aided by the Rising Environmental Consciousness

According to a new report by EMR titled, ‘Global Electric Bike Market Report and Forecast 2022-2027’, the market attained a value of around USD 43719 million in 2020. The market for e-bikes is further expected to grow at a CAGR of 9.80% between 2022 and 2027.

The electric bike industry is being driven by the growing popularity of e-bikes among individuals owing to their environment friendly characteristics. This can be attributed to the growing eco-consciousness among people, fuelled by the rising issues of pollution worldwide. In addition, the rapid technological advancements in electric bike production and the increasing focus to incorporate advanced features in e-bikes are expected to support the market growth in the forecast years. For instance, the SIM module in e-bikes enable the vehicle to send and receive data to and from the cloud without a connected smartphone.

The integration of advanced technology and new product launches by the manufacturers are expected to support the growth of the global electric bike industry in the forecast period. In October 2020, Giant Manufacturing Co ltd. launched a full-composite trail bike, the new Trance X Advanced Pro 29 with enhanced rear suspension and the new flip-chip feature which allows the riders to frame geometry. Furthermore, companies such as The Shyft Group (NASDAQ:SHYF), Accell Group N.V. (OTCMKTS: ACGPF), and others are also enhancing their investments to broaden their product portfolio.

In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to the rapid development and adoption of e-bikes in countries like Japan and China. E-bikes are also gaining traction in the Indian market, owing to the growing economy and improved living standards of people. Furthermore, the government subsidies on the purchase of electric vehicles are also expected to favour the growth of the market in the coming years.

Market Breakup by Product Type, Drive Mechanism, Battery Type, and Region:

  • The market is segmented, based on product type, into pedelecs, speed pedelecs, throttle on demand, and scooter and motorcycle.
  • On the basis of drive mechanism, the market is segmented into hub motor, and mid-drive, among others. 
  • Based on battery type, the market can be divided into lead acid, and lithium-ion, among others.
  • Region-wise, the global market for electric bike 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 electric bike is being driven by the growing popularity of e-bikes owing to the rising environmental consciousness among individuals. 
  • The growing investments by the leading market players in the development of advanced features such as anti-theft system and remote diagnosis are likely to propel the market growth.  
  • The market is expected to be further aided by the growing population and rapid urbanisation in emerging economies of the world. 
  • The decreasing prices of lithium-ion batteries, which find increased usage in e-bikes, are expected to favour the market growth in the forecast years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for electric bike for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the    product types, drive mechanisms, battery types, and regions of electric bike.
  • 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 global electric bike market are Accell Group, Jiangsu Xinri E-Vehicle Co., Ltd, Mahindra & Mahindra Ltd, and Fuji-ta Bicycle Co.,Ltd., 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 the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER