The global ebike market size is projected to grow to $70.0 billion by 2027 from $41.1 billion in 2020, at a CAGR of 7.9%.
Government initiatives towards clean environment and technology advancements such as connected e-bikes are driving the market growth.
The E-bike market has shown a positive impact of COVID-19. Due to the COVID-19 pandemic, shared mobility for transportation is unlikely to be preferred. E-bikes are considered a safe, convenient, and affordable alternative to public transportation. Most countries are working toward boosting the usage of e-bikes through both subsidies and regulatory changes to reduce the stress on public transportation systems. Compared to other transportation systems, e-bikes are cheaper, easier to charge, and do not require huge investments in supportive infrastructure. Therefore, an increase in demand for e-bikes is being observed.
Accell Group N.V. (Netherlands), Pon. Bike (US), Merida Industry Co., Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Corporation (Japan) are some of the front leaders in the e-Bike market.
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The mountain e-Bike segment is estimated to hold the largest share in the e-bike market by 2027
Till 2024, the city e-bike market is expected to be the largest, by usage, globally. However, the popularity of mountain e-bikes is increasing due to their robustness and suitability for mountain/trekking as well as commuting for work and shopping. Therefore, from 2025, mountain/trekking bikes demand is expected to be greater than the city/urban e-bikes.
Cargo and folding e-bikes are expected to be the fastest-growing market segment
Technological advancements and innovative designs have resulted in the introduction of folding and fat-tire e-bikes, which are visually attractive and appealing. The folding e-bikes are flexible, compact, and lightweight. They can be folded while travelling in metros and subways. Therefore, the market for folding and fat-tire e-bikes is expected to grow at a significant rate.
Lithium-Ion batteries are estimated to hold the largest share in the e-Bike market
The lithium-ion battery segment is estimated to account for the largest share of the e-bike market due to lithium-ion batteries’ various benefits. For instance, lithium-ion batteries are eco-friendly, have a better life cycle, and generate more power to weight ratio than other battery types. These batteries have also shown a sharp decline in price in recent years. The effort of e-bike manufacturers to produce lightweight e-bikes has also resulted in the higher adoption of lithium-ion batteries. E-bikes in China were equipped with lead-acid batteries. However, due to government regulations announced in April 2019, the Chinese market has shifted towards lithium-ion batteries, resulting in a huge spike in demand for lithium-ion batteries in the Asia Pacific region from 2019.
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