Global e-Bike Market to reach US$ 56,212.3 Mn by end of 2028, Says Coherent Market Insights

SEATTLE, Oct. 22, 2021 /PRNewswire/ -- E-Bikes are basically a modernized version of what was already available years ago. The original electric scooter was a motorized scooter with one wheel, but the e-bikes of today have two or even three wheels and they often have four wheels. The difference between a scooter, moped, and e-bikes is in their operational requirements, prices, styles, benefits, etc. The main difference is that an e-bikes main purpose is to act as a bicycle, where a scooter is primarily used for traveling short distances. You can use the e-bikes for longer distance travel, but it would probably be at a slower rate than you could do on a standard bicycle, without the motorization.

The global e-bike market is estimated to account for 56,212.3 Mn in terms of value by the end of 2028.

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Market Drivers:

Launch of e-bikes is expected to propel growth of the global e-bike market over the forecast period. For instance, in August 2021, Harley-Davidson launched Seria 1 e-bikes in Europe and the US.

Moreover, R&D in light electric vehicles to address climate change is also expected to aid in growth of the market. For instance, in September 2021, LEVA-EU, a non-profit organization, commissioned research from the German Aerospace Centre to examine the potential of light electric vehicles to address climate change.

Market Opportunities:

Emergence of Covid-19 is expected to boost demand for electric bikes, thereby offering lucrative growth opportunities for players in the global e-bike market. For instance, globally, as of 6:08pm CEST, 12 October 2021, there have been 237,655,302 confirmed cases of COVID-19, including 4,846,981 deaths, reported to WHO. As of 10 October 2021, a total of 6,364,021,792 vaccine doses have been administered. Post pandemic, the value of sustainable and cost-efficient vehicles has risen with the demand for social distancing and the never ending need to commute.

Moreover, R&D in safety of light electric vehicles is also expected to aid in growth of the market. For instance, in August 2021, Royal Society for the Prevention of Accidents and See.Sense, a cycling technology company, with funding from Department for Transport, conducted new research to enhance safety of cyclists.

 Market Trends:

The global e-bike market is witnessing increasing sale of electric bikes. For instance, Giant recorded sales of 29,000 electric bikes in the first half of 2019 and the company was expecting to sell another 310,000 electric bikes by the end of 2019.

Europe is expected to witness significant growth in the global e-bike market with high demand for bikes. For instance, in July 2021, a research, conducted by Opinium, reported that 39% of adults in the U.K are planning a summer staycation in 2021. Of those planning a trip, 44% said that they or someone in their party will be taking or hiring a bike whilst on the trip, most notably their partners (28%) or children (15%). The report thus estimates 12.4 million bikes being used on staycations across the UK in the summer of 2021.

Competitive Landscape:

Major players operating in the global e-bike market include, Dott, GRACE, Jiangsu Xinri E-Vehicle Co. Ltd., Panasonic, Giant Bicycles, Pedego, Stromer, Electric Bike Technologies LLC, Derby Cycle AG, Easy Motion, Superpedestrian, Bosch, Trek, BionX, Yadea Technology Group Co. Ltd., and Accell Group.

Major players operating in the global e-bike market are focused on launching new products to expand their product portfolio. For instance, in October 2021, Dott launched its new e-bikes, with the first vehicles now available on the streets of Paris. The company plans to operate 3,000 e-bikes in the city by the end of 2021 and expand its presence in Rome, Milan, Brussels and London.

Similarly, in August 2020, Delfast launched new Delfast Cross Dirt electric bike with a top speed of 80 km/h (50 mph) and 3,000W continuous, 5,000W peak-rated rear hub motor.

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Market Segmentation:

By Type

• Mountain Bike
• Road Bike
• City Bike
• Cargo Bike
• Others

By Battery Type        

• Lead Acid
• Nickel-cadmium
• Nickel-metal Hydride
• Lithium-ion

By Motor

• Hub Motor
• Mid Motor

By Operation Mode

• Battery/Peddle Operated
• Throttle Operated

By Region

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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SOURCE Coherent Market Insights