The report “E-Bike Market by Class (Class-I, Class-II, Class-III), Speed (Up to 25km/h, 25-45 km/h), Battery Type (Lithium-ion, Lithium-ion Polymer, Lead Acid), Motor Type, Mode (Pedal Assist, Throttle), Component, Usage, Ownership and Region – Forecast to 2027″ The e-Bike market size is projected to reach USD 80.6 billion by 2027 from an estimated USD 49.7 billion in 2022, at a CAGR of 10.2% from 2022 to 2027. The market is expected to witness growth due to increase in demand for sustainable mobility solutions, rising traffic congestions, increasing fuel prices and growing interest in cycling as a fitness and recreational activity.
Lithium-ion polymer battery type segment is expected to be the highest growing segment during the forecast period.
The Lithium-ion polymer batteries are the future of the battery technology. Lithium-ion polymer batteries offer a better range and lesser weight than lithium-ion batteries. Another benefit is these batteries do not have free liquid, so the lithium-ion polymer batteries do not require to be protected by a heavy case which adds directly to the weight of the e-Bike. These batteries can be molded in different shape and size, thus, there is a strong market growth potential for lithium-ion polymer batteries exists during the forecast period
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City/Urban e-Bike segment is expected to be the largest segment from 2022 to 2027.
The city/urban e-Bikes are designed for frequent, short, moderate pace rides through relatively flat urban areas. The city/urban e-Bike segment is estimated to have the market share of ~60% in 2022 and is predicted to grow with by 2027. Rapid urbanization and traffic congestions are among the key factors contributing to the growth of the city/urban e-Bike market. Most countries are also focusing on boosting the usage of city/urban e-Bikes through subsidies and regulations to reduce the stress on public transportation systems. China, Japan, India, and South Korea in Asia Oceania face traffic congestion due to high population and vehicle density. Thus, the city/urban e-Bike segment is estimated to have largest market share in Asia Oceania by 2027.
Accell Group N.V is one of the prominent global player in e-Bike market and offers a wide range of products and solutions related to e-bikes. Accell Group N.V has a focus on investment in R&D activities for upgrading plants, distribution networks and products. For instance, in 2021, the company invested USD 7 million in R&D activities for e-bikes segment. A strong product portfolio and established and recognized brands of e-Bikes are the key strengths of the company. Some of the well-known bicycle brands of the company include Haibike (Germany), Winora (Germany), Batavus (Netherlands), Sparta (Netherlands), Koga (Netherlands), and others. The company collaborates with startups, universities, and innovative suppliers to make bikes smarter and quickly roll out new concepts. For instance, in 2020, the company received a supply order from the Dutch National Police for e-Bikes.
Pon.Bike is mapped among the major players in the e-bike market due to its strong focus on expansion and growth strategies. In October 2021, Pon.Bike acquired Dorel Sports (US) to expand the product portfolio in the premium e-Bikes segment. Further, for growing the sales, the company has opened more than 10 experience centers in the Netherlands for customer service and for better customer reach. Pon.Bike has majorly focused on growing the sales and distributions network and has its presence in the Netherlands, Germany, US, Canada, China, Taiwan, the UK, Hong Kong, Australia, and Brazil.
Key Market Players:
The e-Bike market is dominated by major players such as Accell Group N.V (Netherlands), Pon.Bike (US), Merida Industry Co., Ltd (China), Giant Manufacturing Co., Ltd (Taiwan), Yamaha Motor Company (Japan), Yadea Group Holdings Ltd (China), Pedego Electric Bikes (US), AIMA Technology Group Co., Ltd (China), Trek Bicycle Corporation (US) and Specilaized Bicycle Components, Inc (US).
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