DUBLIN--(BUSINESS WIRE)--The "Global E-Bike Market by Class (Class-I, II & III), Battery Type (Li-Ion, Li-Ion Polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Component and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The e-bike market is projected to reach USD 79.7 billion by 2026 from USD 47.0 billion in 2021, at a CAGR of 11.1%.
The Asia Pacific region is expected to be the largest market for e-bikes during the forecast period. In this region, India, Japan, South Korea, and Taiwan are potential markets owing to the increasing e-bike sales in these countries.
The mountain e-bike is expected to account for a significant share of the e-bike market during the forecast period due to its robustness and high-performance design. Class I e-bike is expected to be the largest market during the forecast period as countries such as China, Japan, South Korea, and Taiwan allow only class-I e-bikes as they are without throttle assist and have a maximum speed of 25 Km/h.
Globally, the mountain/trekking e-bike segment is expected to be the fastest-growing segment during the forecast period
The demand for mountain/trekking e-bikes is growing rapidly as consumers increasingly show interest in trekking and recreational activities. There is a growing interest in performance-based adventurous sports, which, in turn, increase the demand for mountain/trekking e-bikes.
Sports and physical activities are becoming more adaptable through electric motors. In many countries, mountain e-bikes are not only used for mountain trekking but also for daily commutation. The main reason for the growing popularity of mountain e-bikes is their robustness.
Asia Pacific is projected to be the largest regional market
Asia Pacific was the largest e-bike market in 2020, and China was the largest market in the region, with a share of ~97% share, by volume, of the Asia Pacific e-bike market. The e-bike market in Asia Pacific region has evolved over the years.
Japan was the first country to introduce e-bike. The region is home to major e-bike manufacturers and component suppliers, such as Giant Manufacturing, Merida, AIMA, Yadea Group, Panasonic, Shimano, and Yamaha Motor Company. City/Urban bikes are mostly used by working professionals and teenagers for daily commutation in the region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this 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
- Development of lightweight electrical energy storage systems
Challenges
- Technology challenges
- High cost of E-bikes
Companies Mentioned
- Accell Group N.V.
- Aima Technology Group Co. Ltd.
- Ananda Drive Techniques (Shanghai) Co., Ltd.
- BH Bikes
- BMZ GmbH
- Bafang
- Bosch
- Brompton Bicycle Ltd.
- Brose Fahrzeugteile
- Cowboy
- Electric Bike Company
- Fuji-Ta Bicycle Co., Ltd.
- 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.
- Stormer
- 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/dsa2jr
