DUBLIN--(BUSINESS WIRE)--The "Global e-Bike Market by Class (Class-I, II, III), Battery (Li-Ion, Li-Ion Polymer, Lead Acid, Other), Motor (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed (&lessThan;25, 25-45 kmph) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global e-bike market is projected to grow to USD 70 billion by 2027 from USD 41.1 billion in 2020, at a CAGR of 7.9%. Government support and initiatives to increase the sale of e-Bike would drive the global e-Bike market.
Class-III e-Bike is estimated to be the fastest-growing e-Bike market globally
Class-III e-bikes have a potential solution for car replacement to avoid traffic and reduce emissions. Therefore, the market for Class-III e-bikes is expected to grow during the forecast period. Class-III e-bikes currently don't have in the Asia Pacific region. Whereas, in Europe, Switzerland is the largest market for Class-III e-bikes, followed by Belgium and Italy. The North American region presently has a limited penetration of Class-III e-bikes, with only six states authorizing their operation. Also, Class-III e-bikes in both Europe and North America have a minimum age restriction of 16 years.
Folding and fat-tire e-Bike is estimated to be the fastest-growing e-Bike market globally
Folding e-Bike is becoming a popular choice among almost urban commuters. Major conventional bicycle manufacturers are also launching their e-bike with the latest technology and innovative design in the Indian market. For instance, in the 2020 Auto Expo, Hero Cycle its e-bikes lineup, which includes a folding bike (Easy Step, a straphanger), and an electric fat bike (Essentia). Presently, the market for folding and fat-tire e-Bikes is limited in Asia Pacific, Europe, and North America. However, we expect the market for folding and fat-tire e-Bike to be the fastest-growing e-Bike market globally over the forecast period.
North America is expected to be the fastest-growing market globally
Currently, the North American region has a minimal presence of e-bike manufacturers, resulting in a limited market for e-bikes. However, public awareness about e-bikes and the involvement/ interest of traditional bicycle brands towards e-Bike has created a buzz about e-bikes in the market. Pedego Electric Bikes and Trek Bicycle Corporation are the major manufacturers of e-bikes in North America. Therefore, over the forecast period, North America is expected to be the fastest-growing market.
Market Dynamics
Drivers
- Positive Impact of COVID-19 on e-Bike Sales Globally
- Government Support & Initiatives to Increase the Sale of e-Bikes
- Growing Popularity of e-MTB
Restraints
- International Trade Policies and Regulations
- Government Regulations and Lack of Infrastructure
Opportunities
- Trend Towards Connected e-Bikes
Challenges
- Technology Challenges
- High Cost of e-Bike
Companies Mentioned
- Accell Group N.V.
- Aima Technology Group Co. Ltd.
- Bafang
- BH Bikes
- BMZ GmbH
- Bosch
- Brompton Bicycle Ltd.
- Brose Fahrzeugteile
- Electric Bike Company
- Giant Manufacturing Co. Ltd.
- Hero Lectro E-Cycles
- Johnson Matthey Battery Systems
- Merida Industry Co. Ltd
- Panasonic Corporation
- Pedego Electric Bikes
- Pon.Bike
- Promovec A/S
- Rad Power Bikes LLC
- Riese & Muller GmbH
- Samsung SDI Co. Ltd.
- Shimano
- Specialized Bicycle Components, Inc.
- Trek Bicycle Corporation
- Vanmoof
- Wuxi Truckrun Motor Co.
- Yadea Group Holdings Ltd.
- Yamaha Motor Company
For more information about this report visit https://www.researchandmarkets.com/r/n9xhr1
