Global E-Bike Market Outlook to 2027

Market Overview:

A fragmented market with immense growth potential Global E-Bike market is being driven bythe growing popularity of E-bikes and the rising trend of individuals opting for eco-friendly vehicle options as a result of both climate change concerns & rising fuel prices. The market is seeing an upsurge in the unit sales of electric bikes owing to their beneficial consumer characteristics, such as health benefits, economic mobility options, and convenience in riding.

The total addressable market for E-Bike has been expanding globally. Various factors supporting growth include heavy expenditure by companies towards their own brand promotion, celebrity promotions, newspaper advertisement so as to promote the eco-friendly vehicle options, increase in fuel prices has been the largest end-user segment of the market. Growing climate-conscious population, increased inclination for e-bikes, rising awareness regarding air pollution catalysts has been the major key factors which drives the demand for global E-Bike market globally.

The Global E-bike Market is fragmented, with the top five companies occupying 25.60%. The major players in this market are Aima Technology Group Co. Ltd, Giant Manufacturing Co. Ltd, Merida Industry Co. Ltd, Yadea Group Holdings Ltd and Yamaha Bicycles (sorted alphabetically).

Global E-Bike Market Analysis

The global electric bike market size was valued at over $35 Bn in 2022 & is projected to grow over $110 Bn by 2030.

Governments of various countries are taking initiatives to reduce the carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles, owing to increase in awareness toward the hazardous effects of using vehicles running on fossil fuels.

Increase in global carbon emission by fuel combustion has been one of the major concerns for governments and environmentalists from the past few decades. This, in turn, boosts the demand for electric vehicles across the globe, thereby supplementing the growth of the market.

Key Trends by Market Segment:

By Propulsion Type: The market is sub-segmented by propulsion into pedal assist & throttle. As of 2022, the pedal assist held the largest market share owing to its better battery life, lower servicing need, & the ability of consumers to choose from three to five modes of pedal assist. The throttle segment is expected to register a higher CAGR in the upcoming years.

By Battery Type: The market is segmented by battery type into, lead-acid, li-ion, nickel-metal hydride & others. Li-ion has proven to be the most effective & popular type of battery owing to a best combination of element & capacity as they offer higher battery efficiency & optimal capacity. Moreover, they have twice the voltage when compared to other segments.

Competitive Landscape:

• Accell Group is one of the leading players. The company operated in almost 15 countries
• The other major market players include, Yadea Group, Giant manufacturing, Yamaha
• Yadea has been making progress in terms of market expansion & product innovativenenss

Recent Developments:

As part of its 2023 national dealership promotion plan, Yadea has joined with New U.S. Partner Recruitment Drive for its Ebike Products. Yadea's Ebike is looking for local agents and distributors in the US as part of its plans for global expansion.

The Cyclery in Dubai was opened by the Emsons Group, a family-owned business. their vast industry knowledge and local experience allowing Cannondale to extend its reach across the UAE.

Cannondale and Stella McCartney introduced the new Stella Shared 3x Cannondale customs bike collection.

Future Outlook:

• The market will grow at a CAGR of 10.3% during 2022-2027 due to increase in fuel cost & rising customer preference
• Europe is expected to become one of the leading regional segments in the upcoming years

The market is expected to reach over $ 110 Bn by 2030.

 

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