TheElectricBicycles Market is expected to grow at a CAGR of 10.17% during the forecastperiod and is to reach a value of USD 59 billion by the end of the forecast
period. The market value was recorded at USD 25 billion during the historic
forecast period. Electric bikes and motorbikes have an inbuilt and electrically
propelled system. The method makes use of a rechargeable battery that can give
electricity to assist with mobility. E-bikes are growing more popular around
the world as a result of their extended range and tiny motor, which makes them
easier to transport. Cycling aficionados may profit from this by having their
pedaling power increased.
Asa result, governments around the world are supporting and undertaking studies
that could lead to an increase in the market for electric vehicles, notably
e-bikes. As the economy grows, so does urbanization, which leads to increased
traffic congestion. This is one of the main reasons why the market is shifting
toward e-bikes rather than regular bicycles.
Market Segmentation
Basedon the Application, the global Electric Bicycles Market has been segmented into
adhesives, coatings, freight transport, city travel, countryside & urban
environments, climbing, and hiking.
Basedon the End-Users, the global Electric Bicycles Market has been segmented into
lithium-ion, polymer, and lead acids.
Basedon the Product, the global Electric Bicycles Market has been segmented into
Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter or motorcycles.
Basedon the Drive Mechanism, the global Electric Bicycles Market has been segmented
into Hub motor, Mid-drive, and Others.
Basedon the Battery Type, the global Electric Bicycles Market has been segmented
into Lead-acid, Lithium-ion (Li-ion), and Others.
Basedon the Region, the global Electric Bicycles Market has been segmented into
North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and
Africa).
Regional Classification
Theperformance of the leading market competitors in each of the four key
geographical regions is critical to the income generated by the electric
bicycles industry. The Asia-Pacific market, the North American region, which
encompasses the markets of the United States and Canada, the European
countries, and the rest of the world are among these regions. The electric
bicycles market prediction predicts that by the end of the globally projected
timeframe, the Asia Pacific region will have emerged as a driving force in the
market's overall performance. Furthermore, India and Taiwan, as well as the
Japanese and Japanese markets, are developing as potential growth markets for
electric bikes.
Additionally,to compete, electric bike manufacturers in North America and Europe are
focusing on the mid-motors business sub-segment. The benefits, such as the
lighter and smaller size, are the main reasons for this. The background noise
generated by these motors is also decreased. As a result, this market sector in
these places is expected to increase at a reasonable compound annual growth
rate.
Industry News
Themajor key players in the ElectricBicycles Market are Giant Manufacturing Co., Ltd. (Taiwan), Derby Cycle,Easy Motion (USA), Accell Group N.V. (Netherlands), Merida Industry Co., Ltd.
(China), Yamaha Motor Corporation (Japan), Moustache Bikes Bike (US), and
NYCeWheels.
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