Latest market study on “E-bike Market to 2027 by Battery Type (Lithium-Ion, Lithium-Ion Polymer, Lead Acid); Motor Type (Hub Motor, Mid Motor); Class (Class-I, Class-II, Class-III); Mode (Pedal Assist Mode, Throttle Mode); – Global Analysis and Forecast”, the E-bike market is estimated to reach US$ 224,014.2 Mn by 2027 from US$ 35,862.5 Mn in 2018.
The growing interest in the bicycle’s role in Western urban transport systems. Combining more bicycle-friendly cities with rapid advances in technology has resulted in a dramatic increase in the purchase and use of e-bikes. Improved battery and motor technology, component modularity, as well as economies of scale improvements have meant e-bikes can now travel longer distances, are faster, and are more affordable than ever. A key benefit of e-bikes is that they can maintain speed with less effort.
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In APAC, several growing economies in the region support the growth of with a wide variety of sectors such as manufacturing, automotive, and technology. Vehicular emissions are the most significant contributors to the pollution caused in the region. As a result, governments of different countries implemented several schemes and initiatives to catalyze the production of electric vehicles, which substantially reduce environmental pollution due to CO2 emission. The Government of India has announced “The National Electric Mobility Mission Plan (NEMMP) 2020”; this offers a vision along with a roadmap to the manufacturers of e-bikes for faster adoption of electric vehicles in the country. Such above-mentioned factors is expected to fuel the growth of the E-bike market in APAC.
The European E-bike Market is witnessing remarkable growth for commercial applications. Germany is home to a large number of automobile manufacturing facilities, which are constantly focusing on the development of electric vehicles. Further, economically strong countries such as the UK, Spain, the Netherlands, and Italy are instrumental in the development of e-bikes. The automotive sector plays a vital role in growth in the prosperity of the region, with a considerable contribution to the average GDP growth in Europe.
The global market for the E-bike market is segmented based on parameters such as battery type, motor type, class, mode, and geography. Based on battery type, the lithium-ion segment dominates the E-bike market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of motor type, the hub motor segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Further, based on class, the class II segment led the market with the maximum market share.
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