Electric Bike Kit Market To Reach $ 2.9 Bn By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Major electric bike kit market participants include include Afang Electric (Suzhou) Co., Ltd, Yamaha Motor Co., Ltd, Brose Fahrzeugteile GmbH and Co. KG, Panasonic Corporation, Tongsheng Group Co., Ltd, Continental AG, Samsung SDI Co., Ltd, and Giant manufacturing Co., Ltd.

Selbyville, Delaware, Aug. 27, 2024 (GLOBE NEWSWIRE) --

The electric bike kit market valuation is predicted to cross USD 2.9 billion by 2032, as reported in a research study by Global Market Insights Inc.

Urbanization and rising population density in major cities are key drivers behind market growth. The World Bank reports that cities currently house about 56% of the global population, equating to roughly 4.4 billion people.

As urban areas expand and densify, traditional transportation methods, including cars and public transit, grapple with challenges like congestion and pollution. Electric bikes market emerge as a practical solution for urban commuters, enabling swift navigation through crowded streets. Their compactness and agility make them ideal for tight city spaces and areas off-limits to larger vehicles. Furthermore, the push for sustainable transportation, alongside efforts to cut emissions and ease traffic, propels the adoption of electric bikes in urban settings.

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The electric bike kit market from cargo segment will carve a healthy growth trajectory through 2032, as electric cargo bikes transform last-mile delivery and urban logistics. With robust frames, ample luggage racks, and electric assistance, these bikes present a cost-effective and eco-friendly means of transporting goods in bustling cities. Electric bikes are reshaping goods distribution, slashing delivery times, and curbing both traffic congestion and emissions. As e-commerce surges and the demand for immediate deliveries grows, the segment is primed for notable expansion and innovation in urban logistics.

The Lithium-ion Battery (Li-ion) segment is set for steady growth up to 2032, thanks to its superior performance, energy density, and longevity over traditional lead-acid batteries. Li-ion batteries not only power e-motors for extended ranges and quicker charges but also contribute to a lighter, sleeker bike design. Moreover, advancements in Li-ion technology, emphasizing safety and energy efficiency, are driving down costs and boosting reliability, leading to a surge in e-bike adoption.

North America's Electric Bike Kit market will demonstrate steady growth till 2032, driven by urbanization, environmental consciousness, and tech advancements. With cities battling traffic woes and air quality concerns, electric bike kits present a sustainable urban transport solution. Regulatory backing, infrastructure investments, and a burgeoning cycling culture are propelling e-bike adoption. Furthermore, the e-commerce boom and the gig economy's rise amplify the demand for electric cargo bikes, bolstering industry expansion.

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Leading players in the electric bike kit market include Afang Electric (Suzhou) Co., Ltd, Yamaha Motor Co., Ltd, Brose Fahrzeugteile GmbH and Co. KG, Panasonic Corporation, Tongsheng Group Co., Ltd, Continental AG, Samsung SDI Co., Ltd, and Giant Manufacturing Co., Ltd. These companies emphasize innovation, focusing on cutting-edge technologies to enhance e-bike efficiency and user experience. They also pursue market expansion through strategic partnerships, leveraging combined strengths to explore new markets and diversify offerings. Moreover, with changing consumer preferences and regulatory landscapes, R&D investments are paramount. Customer-centric strategies, like tailored marketing and robust after-sales support, play a crucial role in fostering brand loyalty and encouraging repeat business.

In February 2024, Yamaha Motor Company made headlines with a significant investment in River, an electric two-wheeler startup based in Bengaluru. The investment exceeded $20 million, accounting for about 60% of River's total Series B funding round of $40 million. This substantial backing underscores the confidence in River's potential, a sentiment echoed by its existing investors, including Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, and Maniv Mobility.

Partial chapters of report table of contents (TOC):

Chapter 1 Methodology & Scope

1.1 Market scope & definition

1.2 Base estimates & calculations

1.3 Forecast calculation

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis, 2018 - 2032

Chapter 3 Electric Bike Kit Market Insights

3.1 Industry ecosystem analysis

3.2 Supplier landscape

3.2.1 Motor manufacturers

3.2.2 Battery manufacturer

3.2.3 Technology providers

3.2.4 Component suppliers

3.2.5 End users

3.3 Profit margin analysis

3.4 Technology & innovation landscape

3.5 Patent analysis

3.6 Key news & initiatives

3.7 Regulatory landscape

3.8 Impact forces

3.8.1 Growth drivers

3.8.1.1 Growing concerns about environmental sustainability and reducing carbon emissions

3.8.1.2 Increasing urbanization and congestion in cities

3.8.1.3 Rising awareness of health and fitness benefits associated with cycling

3.8.1.4 Government initiatives promoting electric mobility

3.8.2 Industry pitfalls & challenges

3.8.2.1 Limited battery range and concerns about running out of power

3.8.2.2 Inadequate infrastructure such as bike lanes, charging stations, and secure parking facilities

3.9 Growth potential analysis

3.10 Porter's analysis

3.10.1 Supplier power source

3.10.2 Buyer power source

3.10.3 Threat of new entrants

3.10.4 Threat of substitutes

3.10.5 Industry rivalry

3.11 PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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