[225+ Pages Research Report] According to Facts and Factors market research report, the Global Electric Bike Market size & share revenue is expected to grow from USD 40.21 Billion in 2020 to reach USD 67.96 Billion by 2026, at 9.14% annual CAGR growth during forecast period of 2021-2026. The top market companies profiles included in report with their sales, revenues and strategies are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and Fritzmeier Systems GmbH & Co. Kg and others.
New York, NY, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand), by Drive Mechanism (Hub Motor, Mid-drive, and Others), By Battery Type (Lead acid, Li-ion And Others), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the recent research report, the demand of global Electric Bike Market size & share expected to reach to USD 67.96 Billion by 2026 from USD 40.21 Billion in 2020, at a compound annual growth rate (CAGR) of 9.14% during the forecast period 2021 to 2026”
Global Electric Bike Market: Overview
Electric bikes are bicycles that have a battery-powered “assist” that is activated by pedaling and, in some circumstances, a throttle. A small motor engages when you push the pedals on a pedal-assist e-bike, giving you a boost so you can whiz up hills and cruise over rough terrain without running out of gas. Lead-acid, lithium-ion (Li-ion), and nickel-metal hydride are the three types of rechargeable batteries (NiMH). Lead-acid batteries are the most popular form, and they can travel long distances on a single charge. These bikes are simple to ride, suitable for people of all ages, and a cost-effective and environmentally friendly alternative to motorised autos. Electric bicycles are a practical, environmentally friendly, and stylish mode of transportation. They are viewed as a feasible alternative to scooters, smart cars, and public transit by consumers.
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Industry Major Market Players
Riese & Muller
Fritzmeier Systems GmbH & Co. Kg
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Key questions answered in this report:
What is the projected market size & growth rate of the Electric Bike Market?
What are the key driving factors for the growth of the Electric Bike Market?
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What segments are covered in Electric Bike Market?
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Market Dynamics & Drivers
When compared to other modes of transportation, e-bikes are less expensive, easier to charge, and do not necessitate substantial investments in supporting infrastructure. As a result, demand for e-bikes is increasing. One of the primary factors driving the industry's growth is cycling's growing appeal as a recreational activity. Cycling has a variety of physical and mental health benefits, including enhanced cardiovascular performance, muscle strength, and endurance, as well as a lower risk of stress and depression. Young people are increasingly opting for adventurous activities, which is fuelling the e-bike industry's growth.
Factors like growing urbanization and city traffic congestion are projected to increase demand for e-bikes over the forecast period. Government policies supporting the use of electric bikes, consumer preference for e-bikes as an environmentally friendly and efficient method of transportation, and growing gasoline prices are all contributing to the market's expansion.
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Commuters are avoiding public transportation because to the COVID-19 outbreak and instead opting for e-bikes as a safe, convenient, and economical alternative. People's commutes have changed as a result of the COVID-19 epidemic, and bicycling has grown even more popular around the world. China, being a major bicycle manufacturer and the largest market for e-bikes, has seen an increase in demand in this area.
Commuters are turning to the e-bike as a form of daily mobility due to government limits on public transit due to social-discrimination standards. However, in the first quarter of 2020, e-bike sales were hampered by the closure of e-bike retailers owing to lockdown.
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There have been technological breakthroughs in the field of e-bikes as the popularity of e-bikes has grown. One such breakthrough is the linked e-bike, which uses a SIM module to send and receive data to and from the cloud without the use of a smartphone. Automatic emergency call, integrated navigation, social media connection, an anti-theft system, and remote diagnostics are just a few of the significant features given by the linked e-bike. Bosch is a prominent player in the e-bike market and provides a connected e-bike solution.
Global Electric Bike Market: Report Scope
Market Size 2020 Value
USD 40.21 Billion
Market Forecast for 2026
USD 67.96 Billion
Expected CAGR Growth
CAGR 9.14% from 2021-2026
Top Market Players
Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and Fritzmeier Systems GmbH & Co. Kg
Product, Drive Mechanism, Battery Type, and Region
Asia Pacific, Europe, and North Americas
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Europe and North America Held the Majority of Share In 2020
In Europe and North America, the vast majority of e-bike manufacturers focus on mid-motor e-bikes. In 2020, the mid-drive hub motor position will dominate the hub motor position category, since it is the optimum design for pedelec e-bikes and pedal-assisted e-bikes, which are extensively utilised around the world. This is for a reason: making these types of e-bikes is more profitable for them. These bikes are smaller and lighter, and they can travel longer distances with less battery power. As a result, the mid-motor industry is predicted to grow faster than the overall economy during the projection period.
Demand from Canada and the United States is predicted to boost the North American e-bike market to new heights between 2021 and 2026. Around 39% of the total e-bike market is in Europe. Germany, France, and Italy ranked first and second in Europe, respectively. In Germany, electric bicycles are a common mode of travel. E-bikes are also used for sports and recreational purposes in this country. They are used for city logistics in the country since they are clean, quiet, and save space.
Asia Pacific is expected to be the largest market for electric bicycles throughout the forecast period. China, Japan, India, and Taiwan are all potential markets in this region, thanks to increasing e-bike sales. Electric bike use has risen in China over the last decade, and the industry is predicted to be one of the world's fastest-growing markets, with opportunities in a wide range of areas and categories.
Browse full report “Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand), by Drive Mechanism (Hub Motor, Mid-drive, and Others), By Battery Type (Lead-acid, Li-ion, And Others), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/electric-bike-market
The global electric bike market is segmented as follows:
Throttle on Demand
By Drive Mechanism
By Battery Type
Key Highlights of this Report:
Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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