E-bike Market size is set to grow by USD 16.48 bn from 2024-2028, increasing sustainability and environmental concerns to boost the market growth, Technavio

NEW YORK, May 13, 2024 /PRNewswire/ -- The global e-bike market  size is estimated to grow by USD 16.48 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.95%  during the forecast period. 

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Market Driver

The e-bike market has experienced significant growth due to the integration of connectivity features, making e-bikes an eco-friendly solution for urban mobility. Fuel prices and government regulations have driven the demand for electric two-wheelers, leading to the popularity of Class-II and Class-III e-Bikes. Manufacturers source raw materials and components from suppliers to produce hub motor drive and mid-drive motor e-bikes. End users, including young adults, males, and cyclist organizations, benefit from features like real-time location tracking, data gathering, and data mining. E-bikes, such as mopeds and mountain bikes, offer benefits like reduced CO2 emissions, time savings, and improved air quality. Despite infrastructure challenges, e-bikes are poised to become a crucial part of the Mobility-as-a-Service ecosystem. 

Market Challenges

• The E-bike market experiences continuous growth, driven by advancements in motor drive technologies, urbanization, and health benefits. However, product recalls due to defects or potential hazards, such as fire and explosion risks, have become a concern. Traditional manufacturers once bore the entire cost, but collaborations with suppliers have led to cost-sharing. Key players like Shimano Inc focus on build quality and performance, while pricing incentives attract riders in congested areas. E-bikes, including cargo models, offer reduced carbon footprints and noise pollution, making them an attractive alternative to traditional motorcycles.

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Segment Overview

This e-bike market report extensively covers market segmentation by

1. Battery Type
• 1.1 SLA batteries
• 1.2 Li-ion batteries
2. Propulsion 
• 2.1 Pedal assist
• 2.2 Throttle assist
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 SLA batteries-  In the face of escalating fuel prices, geopolitical conflicts, and inflations, e-bikes have emerged as an eco-friendly solution for personal mobility. The global economic slowdown and overstocks of conventional vehicles have further fueled the popularity of electric two-wheelers. The E-bike Market Ecosystem comprises raw material suppliers, component manufacturers, e-bike manufacturers, and end users. Government regulations and national regulations are increasingly encouraging the adoption of e-bikes as a sustainable alternative to traditional modes of transportation. Class-II e-Bikes and Class-III e-Bikes, which offer varying levels of pedal assistance and throttle control, cater to diverse user needs. Lead acid-equipped e-bikes, such as those with SLA batteries, continue to dominate the market due to their affordability and reliability. However, advancements in technology, like hub motor drive and mid-drive motor, are driving the shift towards more efficient and powerful lithium-ion batteries. Mountain biking, young adults, males, and off-road sports enthusiasts are among the key demographics driving the growth of the e-bike market. Women, kids, and cyclist organizations also contribute significantly to the market's expansion. Despite the benefits of e-bikes, including reduced CO2 emissions, time savings, and improved air quality, the lack of adequate infrastructure, such as bike lanes and charging stations, poses a challenge to their widespread adoption. Data gathering and data mining are essential for understanding market trends and consumer preferences, enabling manufacturers to innovate and cater to the evolving needs of the e-bike market.

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Research Analysis

The e-bike market is experiencing significant growth as consumers seek eco-friendly solutions for commuting amidst rising fuel prices and inflations. Governments worldwide are incentivizing the use of electric vehicles, including e-bikes, through regulations and infrastructure development such as bicycle highway lanes. Lithium-ion batteries, a key component of e-bikes, have seen advancements in weight reduction and cargo capacity, making e-bikes a viable alternative to traditional vehicles for both personal and commercial use. Motor manufacturers and market players are introducing new models and types to cater to the diverse needs of riders, from mountain commutes to city commuting. The lack of congestion and noise pollution are additional benefits that make e-bikes an attractive option for people looking to reduce their carbon footprint. Overall, e-bikes offer a sustainable and cost-effective mode of transportation in the face of wars, inflations, and overstocks.

Market Research Overview

The e-bike market is experiencing significant growth, driven by the increasing popularity of sustainable transportation solutions. Fueled by advances in technology, e-bikes provide a convenient and efficient alternative to traditional bikes. The regulatory environment plays a crucial role in the industry, with countries implementing various policies to promote e-bike adoption. The market is segmented by type, including pedelecs and speed pedelecs, and by application, such as commuting and leisure. Companies are focusing on innovation to meet the evolving needs of consumers, offering features like longer battery life, faster charging, and improved design. The market is expected to continue its upward trend, driven by increasing urbanization, rising environmental concerns, and the desire for healthier lifestyles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Battery Type
• SLA Batteries
• Li-ion Batteries
• Propulsion
• Pedal Assist
• Throttle Assist
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio