(MENAFN- EIN Presswire)
e-bike
According to a research report published by Exactitude Consultancy, Companies covered: Accell Group N.V, Bike, Merida industry Co., Giant Ltd., Yamaha Motor
E-bike market demand is soaring due to urban mobility needs, eco-friendly transportation, technological advancements, and health benefits” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, September 3, 2024 /EINPresswire / -- E-bike Market Overview
Electric bicycles (e-bikes ) are similar to human-powered bicycles with a small electric motor that assist or substitute the pedalling efforts. Some models of e-bike offer throttle-based motor activation and some offer pedal-assist bike. Complex model with advanced electric motor and optional throttle activation are also available in the market. They are generally categorized under two speed ranges that are up to 25 kmph and second is 25-45 kmph.
The global e-bike market is expected to grow at 11.2% CAGR from 2023 to 2030. It is expected to reach above USD 109.88 billion by 2030 from USD 42.26 billion in 2023.
Get Sample Copy Here:
#request-a-sample
Globally, the e-bike market has been expanding rapidly due to a number of factors, including growing environmental consciousness, technology improvements, and customer preferences for more environmentally friendly and effective forms of transportation. E-bikes are a desirable substitute for traditional automobiles since they combine a battery-powered motor with a typical bicycle, particularly in cities with heavy traffic and pollution. Many people find e-bikes intriguing because they can travel farther while requiring less physical exertion. These people include fitness fanatics, senior folks, everyday commuters, and recreational riders.
Main parts of an e-bike include battery pack, electric motor, controller, throttle, PAS & torque sensor, e-brakes, display, torque arms, and hall sensors. Battery pack and electric motor used in an e-bike constitute for majority of e-bike prices. Some of the advantages associated with the application of e-bike are low operating cost, a combined advantage for both bicycle and motorbike, ecological means of transport, good for exercise.
E-Bike Market Competitive Landscape
Accell Group N.V., Pon, Merida Industry Co., Ltd., Giant Manufacturing Co., Ltd., Yamaha Motor Corporation, Trek Bikes, and Riese & Muller.
E-Bike Market Recent Developments
In November 2023, Accell Group NV and Refurb Battery will extend their partnership, building on the success of their pilot program to repurpose 5,000 discarded electric bike batteries. This initiative reduced over 100 tons of CO2 emissions.
1 November 2023, Accell Group, a leading European manufacturer of bicycles, bicycle parts and accessories, is pleased to announce the appointment of Tjeerd Jegen as CEO and Chair of the Management Board.
Market Dynamics:
Environment-Friendly Transportation to Boost Market
Environmentally friendly and efficient modes of transportation are necessary in light of growing environmental concerns. Compared to the petrol emissions of cars, E-Bikes have little or no emissions, making them a green product. Delivery businesses are adopting e-bikes, particularly the fourth plague of delivery services in densely populated places with traffic-related issues including parking and congestion. The E-Bike market has grown as a result of logistics companies using cycling to reduce delivery times and satisfy delivery targets.
Technological Advancements in Battery Technology
The creation of new battery technology that enhances energy density and e-bike charging cycles are a couple of the major factors. More mileage between charges and shorter charging times are two benefits of upgraded batteries, which may make e-bikes more appealing to buyers. While e-bikes' higher innovation is shown in the current triumphs of battery technology research and development, more advancements in this area are predicted in the future, solidifying e-bikes' viability as a solution in today's contemporary transportation contexts.
Increasing trend of connected e-bikes
These intelligent e-bikes are able to send vital data regarding their condition and usage. Some linked bikes are capable of receiving orders in addition to other data. Data processing and collecting are made possible by networked e-bike systems. Businesses are moving forward these days to discover integrated solutions. As a result, the e-bike trend will enable market expansion in the near future.
Rising popularity of e-MTB
Mountain biking has seen a notable growth in popularity due to the increase in the demand for bicycles over the previous two years worldwide. According to an estimate, the market for mountain biking and trekking is anticipated to expand at a 10% annual pace in the ensuing years, from 2022 to 2029. Significant increase in tourism and extreme sports is probably going to fuel the e-MTB sector.
Increasing preference for bicycles as an eco-friendly vehicle
The need for environmentally responsible transportation is growing, and bicycles are becoming more and more popular worldwide. This is mostly due to the many advantages that cycling offers, including lower CO2 emissions, less air pollution, less noise pollution from other forms of transportation, fuel cost savings, enhanced public health, less traffic congestion, and lower costs associated with building and maintaining road infrastructure.
Increasing Popularity of Mid-drive Motors
Hub motors are lighter in weight, simple in construction, and inexpensive to the manufacturers because of which it is the most commonly found motors in the e-bike. However, significant number of advantages offered by the mid-drive motors over hub motors expected to drive their demand overt the forthcoming years. Mid-drive motors offer higher torque and performance compared to traditional hub motors as it drives the crank despite of wheel; hence, multiply its power and allow to take more benefits from the gear system. When it comes to maintenance, hub motors are more difficult to service and maintain than mid-drive motors. Replacing the nut bolts on the e-bike will allow you to easily remove them. Additionally, they are positioned at the e-bike's centre of gravity, which improves the bike's handling by better distributing the weight. Because of the aforementioned advantages, both e-bike manufacturers and consumers choose mid-drive motors over hub motors.
Get Full Report:
E-Bike Market Regional Insights
North America on the e-bike market preferences, it is dominant in the region, especially in the growth of the cargo e-bikes mainly due to the infrastructural development of e-bikes in transport, traffic congestion compounded by high fuel cost in the urban area for goods transport. Cargo e-bikes are much faster and eco-friendly as compared to conventional lorries in delivering products and goods within cities. They involve reduced expenses, are subsidized, and are also eligible for tax exemptions in some areas as well as consuming less energy. Although slightly down in 2023, people are still interested in buying e-Bike after-market kits as well as other industries like environmentally friendly transportation.
The region that contributes to be the fastest growing region to global revenue is Asia-Pacific, which is anticipated to expand at a CAGR of 11.2% over the projection period. Due to its affordability, environmental friendliness, and low electricity requirements, e-bikes are becoming more and more popular across Asia and the Pacific region compared to other forms of transportation. Moreover, it is anticipated that a rise in government initiatives to promote environmentally friendly vehicles and bicycles as well as the development of pertinent infrastructure will hasten the development of the E-Bike sector.
Segment Analysis:
The global E-Bike market is segmented by class, which refers to different categories of electric bicycles based on their speed and power assistance characteristics.
Class-I E-Bikes provide pedal-assist only, meaning the motor kicks in only when the rider is pedalling. They have a maximum assisted speed of 20 mph (32 km/h). These bikes do not have a throttle and are typically allowed on most bike paths and trails. These are the most popular type of e-bikes due to their versatility and compliance with many local regulations. They are ideal for casual riders, commuters, and fitness enthusiasts.
Class-II E-Bikes offer both pedal-assist and throttle-based assistance. They also have a top speed of 20 mph (32 km/h) when using either the throttle or pedal-assist function. This class provides more flexibility for riders who may want the option to ride without pedalling. These e-bikes are preferred by riders who want the convenience of throttle control, making them popular among those who seek an easier riding experience, particularly in urban areas or for short-distance commuting.
Class-III E-Bikes, also known as speed peddles, provide pedal-assist only and can reach higher speeds, with assistance up to 28 mph (45 km/h). They do not have a throttle. Due to their higher speed capability, these e-bikes are often subject to stricter regulations and are typically restricted from bike paths. These e-bikes appeal to riders looking for faster commuting options, especially those traveling longer distances. They are popular among enthusiasts and those looking for a higher-performance e-bike experience.
The Global E-Bike Market by Motor Type is segmented into two main categories: Mid-drive motors and Hub-drive motors.
Mid-drive motors are positioned at the bike's crank, where the pedals are. This central placement allows for a balanced weight distribution and better integration with the bike's gears, resulting in improved power efficiency and handling. Mid-drive motors are popular for mountain e-bikes and other high-performance models due to their enhanced torque and climbing capabilities. Hub motors are located either in the front or rear wheel hub of the e-bike. They are simpler in design and often more affordable than mid-drive motors. Hub motors provide a quieter ride and are commonly used in city or commuter e-bikes due to their reliability and low maintenance requirements. They can be further divided into geared and gearless (direct-drive) hub motors, each offering different advantages in terms of torque and efficiency.
To know an additional revised 2024 list of market players, request a sample report:
#request-a-sample
Key Market Segments: Global E-Bike Market
Global E-Bike Market by Class, 2020-2029, (USD Million) (Thousand Units)
Class-I
Class- II
Class - III
Global E-Bike Market by Battery Type, 2020-2029, (USD Million) (Thousand Units)
Li-Ion
Li-Ion Polymer
Lead Acid
Global E-Bike Market by Motor Type, 2020-2029, (USD Million) (Thousand Units)
Mid
Hub
Global E-Bike Market by Mode, 2020-2029, (USD Million) (Thousand Units)
Throttle
Pedal Assist
Global E-Bike Market by Usage, 2020-2029, (USD Million) (Thousand Units)
Mountain/Trekking
City/Urban
Cargo
Global E-Bike Market by Region, 2020-2029, (USD Million) (Thousand Units)
North America
Europe
Asia Pacific
South America
Middle East and Africa
Frequently Asked Questions
What is the current size of e-bike market?
How much is the CAGR of global e-bike market?
Which are the driving factors of the e-bike market?
Who are the major players operating in the e-bike market?
Which region will lead the global e-bike market?
For Additional Information:
Top Trending Reports
EMI (Electromagnetic Interference) Shielding Market
The global EMI shielding market is expected to grow at a 3.23% CAGR from 2022 to 2029. It is expected to reach above USD 8.12 billion by 2029 from USD 6.1 billion in 2023.
Brake System Market
The global brake system market is projected to reach USD 29 billion by 2029 from USD 19.33 billion in 2023, at a CAGR of 11.9% from 2022 to 2029.
FRP Grating Market
The global FRP grating market is expected to grow at a 9.89% CAGR from 2022 to 2029. It is expected to reach above USD 578.9 million by 2029 from USD 247.7 million in 2023.
Car Care Products Market
The Car care products market size was valued at USD 10.31 billion in 2023 and is projected to reach USD 15.05 billion by 2029, growing at a CAGR of 4.3% from 2022 to 2029.
Brake Friction Products Market
The Brake friction product market size was valued at USD 9.98 billion in 2023 and is projected to reach USD 14.58 billion by 2029, growing at a CAGR of 4.3% from 2022 to 2029.
Automotive PCB Market
The global automotive PCB market is expected to grow at a 6.34% CAGR from 2022 to 2029. It is expected to reach above USD 12.4 billion by 2029 from USD 7.13 billion in 2023.
Automotive Relay Market
The global automotive relay market is expected to grow at a 4.89% CAGR from 2022 to 2029. It is expected to reach above USD 22.6 billion by 2029 from USD 14.7 billion in 2023.
Automotive Electronic Control Unit Market
The global Automotive Electronic Control Unit market is expected to grow at 5.8 % CAGR from 2022 to 2029. It is expected to reach above USD 148.67 billion by 2029 from USD 94.7 billion in 2021.
Automotive Engine Belt & Hose Market
The global Automotive Engine Belt & Hose Market is expected to grow at 6.69% CAGR from 2022 to 2029. It is expected to reach above USD 36.18 billion by 2029 from USD 20.2 billion in 2021.
Diesel Engines for Constructions and Earth Moving Market
The global Diesel engines for constructions and earth moving market is expected to grow at 7.1 % CAGR from 2021 to 2029. It is expected to reach above USD 21.65 billion by 2029 from USD 12.51 billion in 2021.
About Us:
Exactitude Consultancy is a Market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our professional team works hard to fetch the most authentic research reports backed with impeccable data figures which guarantee outstanding results every time for you. So, whether it is the latest report from the researchers or an accustom requirement, our team is here to help you in the best possible way.
Contact
...
Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN03092024003118003196ID1108628929