NEW YORK, Nov. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global E-bike market size is estimated to grow by USD 16.48 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.95% during the forecast period. Increasing sustainability and environmental concerns is driving market growth, with a trend towards popularity of connected e-bikes. However, product recalls due to possible failures of e-bikes poses a challenge.Key market players include Accell Group NV, Avon Cycles Ltd., BH BIKES Europe SL, Cortina Bikes, Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Hero Ecotech Ltd., Kalkhoff Werke GmbH, Klever Mobility Europe GmbH, myStromer AG, PEDEGO Inc., PIERER Mobility AG, Riese and Muller GmbH, SCOTT Sports SA, SHIMANO INC., Trek Bicycle Corp., TVS Motor Co. Ltd., Yamaha Motor Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd..
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF
E-bike Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.95% |
Market growth 2024-2028 |
USD 16.48 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
6.7 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 50% |
Key countries |
US, China, Japan, Germany, and The Netherlands |
Key companies profiled |
Accell Group NV, Avon Cycles Ltd., BH BIKES Europe SL, Cortina Bikes, Giant Manufacturing Co. Ltd., Greenwit Technologies Ltd., Hero Cycles Ltd., Hero Ecotech Ltd., Kalkhoff Werke GmbH, Klever Mobility Europe GmbH, myStromer AG, PEDEGO Inc., PIERER Mobility AG, Riese and Muller GmbH, SCOTT Sports SA, SHIMANO INC., Trek Bicycle Corp., TVS Motor Co. Ltd., Yamaha Motor Co. Ltd., and Zhejiang Luyuan Electric Vehicle Co. Ltd. |
Market Driver
The E-Bike Market is experiencing significant growth due to its eco-friendly solution as fuel prices rise. With the increasing popularity of e-bikes, governments and national regulations are implementing e-bike regulations, turning them into a viable alternative to cars. E-bikes offer various types and modes, including Class-II and Class-III, catering to different needs of riders. However, the lack of infrastructure, such as bike lanes, poses a challenge. The E-Bike Market Ecosystem consists of raw material suppliers, component manufacturers, e-bike manufacturers, and end users. Hub motor drives and mid-drive motors are common motor drive technologies, while lithium-ion batteries are increasingly preferred over lead acid-equipped e-bikes. E-bikes are popular among young adults, males, and females, with off-road sports, mountain biking, and Crossroad biking gaining traction. Governments offer incentives to promote e-bikes as an alternative to motorcycles and cars, reducing CO2 emissions and air pollution. E-bike manufacturers like Shimano Inc focus on build quality, performance, and pricing incentives to meet consumer needs. Advancements in technologies, such as lithium-ion batteries and connected e-bikes, add features and benefits, making e-bikes a preferred choice for commuting and adventure. Despite the benefits, challenges like noise pollution and the need for motor regulations persist. The global economic slowdown and inflation may cause overstocks, affecting market players and their models. The E-Bike market continues to evolve, offering a range of vehicles for various uses, from cargo to fitness.
The rise of ride-sharing, ride-hailing, and vehicle rental services has significantly boosted the adoption of connected vehicles, including e-bikes. The widespread use of e-bike-sharing services in various regions has given birth to connected e-bikes. These connected e-bikes enable real-time location tracking for both the bike-sharing companies and users. By integrating connectivity features, e-bikes can enhance the bike-sharing business model and become a crucial component of urban mobility. Connected e-bikes can be easily tracked, booked, and paid for through smartphone applications, making them an essential part of the Mobility-as-a-Service (MaaS) network.
Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!
Market Challenges
Discover how AI is revolutionizing market trends- Get your access now!
Segment Overview
This e-bike market report extensively covers market segmentation by
1.1 SLA batteries- SLA batteries, also known as sealed lead-acid (SLA) batteries or gel cells, are a common choice for electric bikes (e-bikes) due to their affordability and ease of maintenance. These batteries have a coagulated sulfuric acid electrolyte and are partially sealed, with vents to release gases formed during overcharging. SLA batteries are heavier and larger than lithium-ion batteries, impacting the overall weight and handling of the e-bike. They also have a lower energy density and capacity compared to lithium-ion batteries. Despite these functional disadvantages, SLA batteries remain popular due to their low cost and wide availability. However, they contain 70% lead, which can negatively impact the environment during manufacturing, usage, recycling, and disposal. The SLA batteries segment is expected to maintain its leading position in the global e-bike market due to their affordability and accessibility.
Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics
Research Analysis
The e-bike market is experiencing significant growth as more people seek eco-friendly solutions for commuting and transportation. Fuel prices and environmental concerns are driving the demand for electric bicycles, which offer a cost-effective and sustainable alternative to cars and motorcycles. Governments around the world are investing in bicycle highway lanes and incentives to encourage the use of e-bikes, reducing traffic congestion and noise pollution. E-bikes come in various types and modes, including cargo bikes, mountain bikes, and commuting models. Their benefits include the ability to tackle hills and long distances with ease, thanks to powerful motors and lithium-ion batteries. Consumers appreciate the lack of need for a driver's license or insurance, as well as the low weight and ease of use. Despite the advancements in e-bike technology, there are challenges, such as regulations, overstocks, and the occasional lack of infrastructure. However, the market continues to evolve, with new models and components, such as throttle controls, being introduced regularly to meet the needs of riders. Overall, e-bikes offer a versatile and efficient transportation solution for people looking to reduce their carbon footprint and save money on fuel costs.
Market Research Overview
The E-Bike Market is experiencing significant growth as more people seek eco-friendly solutions for transportation due to rising fuel prices and government regulations aimed at reducing CO2 emissions and air pollution. The popularity of e-bikes is on the rise, especially among young adults, males, and cyclist organizations, as they offer a convenient and cost-effective alternative to cars for commuting and recreational activities like mountain biking, off-road sports, and adventure. However, the market faces challenges such as a lack of infrastructure, including bike lanes, and regulatory hurdles in various countries. The E-Bike Market Ecosystem consists of raw material suppliers, component manufacturers, e-bike manufacturers, and end users. The market offers various types of e-bikes, including Class-II and Class-III e-Bikes, mopeds, and cargo e-bikes, powered by hub motor drives or mid-drive motors and lithium-ion batteries. The market is also witnessing advancements in technologies, such as connected e-bikes, and new modes of transportation, such as e-bike sharing services. Governments worldwide are offering incentives to promote the adoption of e-bikes and e-scooters to reduce congestion and carbon footprints. Despite these advantages, challenges such as the lack of standardization, safety concerns, and competition from traditional modes of transportation, such as motorcycles, persist. The E-Bike Market is expected to continue growing, driven by increasing consumer awareness of the health benefits, maintenance advantages, and environmental friendliness of e-bikes. The market is expected to face competition from traditional bicycles and motorcycles, as well as new entrants, such as electric scooters and mopeds. The market is also witnessing a shift towards more advanced features, such as throttle control, better build quality, and performance pricing incentives. The E-Bike Market is expected to continue growing, driven by increasing consumer awareness of the health benefits, maintenance advantages, and environmental friendliness of e-bikes. The market is expected to face competition from traditional bicycles and motorcycles, as well as new entrants, such as electric scooters and mopeds. The market is also witnessing a shift towards more advanced features, such as throttle control, better build quality, and performance pricing incentives. Despite the challenges, the E-Bike Market is poised for growth, driven by the need for sustainable transportation solutions, government regulations, and consumer demand. The market is expected to witness significant advancements in technologies, such as motor drive technologies, battery technologies, and connectivity features, which will make e-bikes more accessible, affordable, and convenient for consumers. In conclusion, the E-Bike Market is an exciting and dynamic space, driven by the need for sustainable transportation solutions, consumer demand, and government regulations. The market offers a range of e-bike types, from city/urban e-bikes to cargo e-bikes, and is witnessing significant advancements in technologies, such as motor drive technologies, battery technologies, and connectivity features. Despite the challenges, the market is expected to continue growing, driven by the benefits of e-bikes, such as cost savings, health benefits, and environmental sustainability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/e-bike-market-to-grow-by-usd-16-48-billion-2024-2028-driven-by-sustainability-and-environmental-concerns-ai-impacting-market-trends---technavio-302314314.html
SOURCE Technavio