DUBLIN--(BUSINESS WIRE)--The "E-Mountain Bike Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The e-mountain bike market was valued at around USD 5 billion in 2020, and it is expected to reach over USD 10 billion by 2026, projecting a CAGR of more than 12% during the forecast period
It can be stated that the COVID-19 had a slightly positive impact on the E-Mountain Bike Market as compared to the negative impact it vastly had on different markets. With the preference for personal mobility that is to take a rise and the need to overcome traffic congestions, the demand for personal vehicles is going to rise.
Also, with the growing environmental impact and concerns over rising temperatures due to emissions, E-Bikes are a great alternative to conventional bicycles and motorcycles.
However, COVID-19 set back the industry with zero mobility of people and halting manufacturing of new e-bikes. Post COVID-19, with the recreational activities and health awareness among the consumers, the market is set to for a good rise in terms of economy.
The e-mountain is growing rapidly as the younger generation showing great interest in the trekking and recreational activities. However, factors, such as government regulations regarding speed and safety issues associated with these bikes, are likely to hinder the growth of the market. For instance, The UCI (Union Cycliste Internationale) has adopted strict regulations regarding the electric motors on E-mountain bikes, which must not exceed 250 watts. Pedaling assistance is only permitted to a maximum speed of 25kph.
There is an increasing interest of people toward performance-based adventurous sports, which, in turn, is projected to increase the demand for e-mountain bikes. Owing to this, the sales of conventional mountain bike is likely to be at stake over the forecast period.
Key Market Trends
Growing Demand of E-Mountain Bike (eMTB)
Over the years, the sales of e-bike have increased rapidly due to the rise in fuel costs, which has led to the growth of the implementation of electric bicycles as a daily means of transport. Switzerland is considered one of the best trekking places.
According to the Swiss Bicycle Suppliers' Association, in 2017, approximately 90,000 e-bikes were snapped up by riders looking for battery-powered assistance.
The highest rise was in the eMTB category, with around 29,000 put to use on trails, an increase of 38.3%, compared to 2016.
All-terrain and cyclo-cross bike sales decreased, while demand for racing bikes stagnated. Specialty bikes like tandems or cargo bicycles also fell sharply by 20.4%.
eMTB motor manufacturer Bosch conducted a survey with more than 5,421 people in six European countries in mid-2017. As per the results of the survey, 10% of the participants already owned a pedelec, and 16% were looking into buying one in the coming year. The demand for mountain bicycling is also growing in the United States. In 2018, the number of participants (aged six years and above) in mountain/non-paved surface biking amounted to approximately 8.69 million.
Europe is leading the E-Mountain Bike Market
The E-Mountain bike market is led by Europe and followed by North America and Asia-Pacific. E-bikes are again setting trends in the industry, as there is a great demand for lighter and smaller bikes with more performance. The sale figures show that e-bikes are becoming popular among recreational cyclists who prefer to enjoy longer rides without getting exhausted after trekking.
The market for e-mountain bikes in France is growing. Some of the major factors driving the market are the rise in the category of e-cargo bikes and e-mountain bikes, increasing traffic, and increasing focus on reducing exhaust emissions.
Competitive Landscape
The e-mountain bike market is growing, and some of the major players in the market are Yamaha Motor, Pedego Electric Bikes, BH Bikes, and CUBE. The companies are expanding their presence across the world by launching new products with the latest technology. As the market is growing, various major players from other sectors of industries are entering the market.
Company Profiles
- Giant Manufacturing Co. Ltd
- Pivot Cycles
- Scott Sports SA
- Trek Bicycle Corporation
- Trinx Bikes
- CUBE GmbH & Co. KG
- Yamaha Motor Co. Ltd
- Pedego Electric Bikes
- BH Bikes
For more information about this report visit https://www.researchandmarkets.com/r/70rl9w
