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In 2022, the worldwide market for electric bicycles was estimated to be worth USD 37.46 billion. The market is expected to increase at a CAGR of 15.5% between 2023 and 2030, rising from an estimated USD 43.31 billion. An electric bike is a type of bicycle that uses a motor and rechargeable batteries to make riding easier. With an electric bike, you can ride for longer and more frequently without feeling fatigued. They're more cost-effective than driving and more convenient for people with mobility issues. The widespread availability of quickly rechargeable batteries, lightweight motors, and other technological advancements in bicycle components have all contributed to the rise in popularity of electric bicycles.
Report Coverage
Global Electric Bike research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Bike report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Bike competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Bike market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
Bicycle commuting has become increasingly popular over the past decade as the price of petrol has skyrocketed. Increases in the price of crude oil, which are mostly under the control of the countries that make up the Organisation of the Petroleum Exporting Countries (OPEC), are the primary cause of the price increases at the pump. For example, in September 2021, due to rising car demand and supply limitations, the price of a barrel of crude oil was USD 79. In addition, further price increases are anticipated due to crude oil's scarcity. In addition, the government is working hard to build the charging infrastructure essential for widespread use of electric bicycles. As an added bonus, the federations provide overall savings on e-bikes through various programmes, discounts, and subsidies. Because of its many advantages and their little impact on the environment, consumers are increasingly drawn to electric bicycles. Electric-powered bicycles are more stable at higher speeds and more pleasant to ride across difficult terrain. As a result, the rising price of petrol is predicted to enhance people's interest in using electric bicycles, which will drive the expansion of the electric bike market.
CAUSES OF RESTRICTIONS
The expensive price of e-bikes is a major barrier to their widespread adoption. A survey of North American e-bike users conducted in 2020 indicated that the average cost of an e-bike varied widely based on its mode of propulsion and the quality of its components and frames. The disparity is enormous and varies greatly from one country to the next. According to Bicycle Retailer and Industry News 2019, the wholesale price of a mountain bike in the United States is USD 620. Furthermore, there is no international agreement on a unified system of e-bike categories. Class 1, 2, and 3 are used to categorise motorcycles in 22 of the 30 countries in the United States. This is because federal, state, and municipal regulations in the United States often contradict one another and are not standardised. Furthermore, the use of e-bikes is restricted in some Chinese cities based on their power rating. Similar classification systems are used in European countries to categorise e-bikes by power rating, speed (mph), and other criteria. Therefore, the expensive price of such bikes and the lack of standardised regulation are reducing their global market share.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Bike market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Bike market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Giant Bicycle, Inc.
• Hero Cycles Ltd
• Accell Group
• Robert Bosch GmbH
• Kalkhoff Werke GmbH
• Pedego Electric Bikes
• Panasonic Corporation
• Mobility Holdings, Ltd.
• Trek Bicycle Corporation
• Shimano Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Electric Bike market based on the below-mentioned segments:
Global Electric Bike Market, By Propulsion Type
Global Electric Bike market, By Battery Type
Global Electric Bike Market, By Application
Global Electric Bike market, Regional Analysis
Report Coverage
Global Electric Bike research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Electric Bike report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Electric Bike competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Electric Bike market players and analyses their core competencies in each global market sub-segments.
EFFECTIVE CAUSES
Bicycle commuting has become increasingly popular over the past decade as the price of petrol has skyrocketed. Increases in the price of crude oil, which are mostly under the control of the countries that make up the Organisation of the Petroleum Exporting Countries (OPEC), are the primary cause of the price increases at the pump. For example, in September 2021, due to rising car demand and supply limitations, the price of a barrel of crude oil was USD 79. In addition, further price increases are anticipated due to crude oil's scarcity. In addition, the government is working hard to build the charging infrastructure essential for widespread use of electric bicycles. As an added bonus, the federations provide overall savings on e-bikes through various programmes, discounts, and subsidies. Because of its many advantages and their little impact on the environment, consumers are increasingly drawn to electric bicycles. Electric-powered bicycles are more stable at higher speeds and more pleasant to ride across difficult terrain. As a result, the rising price of petrol is predicted to enhance people's interest in using electric bicycles, which will drive the expansion of the electric bike market.
CAUSES OF RESTRICTIONS
The expensive price of e-bikes is a major barrier to their widespread adoption. A survey of North American e-bike users conducted in 2020 indicated that the average cost of an e-bike varied widely based on its mode of propulsion and the quality of its components and frames. The disparity is enormous and varies greatly from one country to the next. According to Bicycle Retailer and Industry News 2019, the wholesale price of a mountain bike in the United States is USD 620. Furthermore, there is no international agreement on a unified system of e-bike categories. Class 1, 2, and 3 are used to categorise motorcycles in 22 of the 30 countries in the United States. This is because federal, state, and municipal regulations in the United States often contradict one another and are not standardised. Furthermore, the use of e-bikes is restricted in some Chinese cities based on their power rating. Similar classification systems are used in European countries to categorise e-bikes by power rating, speed (mph), and other criteria. Therefore, the expensive price of such bikes and the lack of standardised regulation are reducing their global market share.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Giant Bicycle, Inc., Hero Cycles Ltd, Accell Group, Robert Bosch GmbH, Kalkhoff Werke GmbH, Pedego Electric Bikes, Panasonic Corporation, Mobility Holdings, Ltd., Trek Bicycle Corporation, Shimano Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Electric Bike Market from 2021 to 2030.
- Market Forecast for Electric Bike Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Electric Bike competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Electric Bike
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Electric Bike market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Electric Bike market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
• Giant Bicycle, Inc.
• Hero Cycles Ltd
• Accell Group
• Robert Bosch GmbH
• Kalkhoff Werke GmbH
• Pedego Electric Bikes
• Panasonic Corporation
• Mobility Holdings, Ltd.
• Trek Bicycle Corporation
• Shimano Inc.
Primary Target Market
- Market Players of Electric Bike
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Electric Bike market based on the below-mentioned segments:
Global Electric Bike Market, By Propulsion Type
- Pedal Assist
- Throttle
Global Electric Bike market, By Battery Type
- Lead Acid
- Lithium-ion
- Nickel Metal Hydride
Global Electric Bike Market, By Application
- City/Urban
- Mountain/Trekking
- Cargo/Luggage
Global Electric Bike market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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