The global electric bikes market size was valued at $16.34 billion in 2017 and is expected to reach $23.83 billion by 2025, registering a CAGR of 4.9% from 2018 to 2025.
Electric bikes are bicycles with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Various kinds of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes that produce power to completely drive the bike using the throttle.
Electric bikes are a flexible, versatile, eco-friendly, and trendy mode of transport. Consumers look up to them as an ideal substitute for scooters, smart cars, and public transport. Consumers are benefited because they better tackle traffic congestion owing to the smaller size of e-bikes, attain higher speeds with lesser effort, and gain from the advantages of peddling. These factors have led to the growing popularity of electric bikes across the globe.
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The major players operating in the global electric bikes market focus on key market strategies, such as mergers, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the market include Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co., Ltd, Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle Co., Ltd.
Other key players operating in the market include Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, Prodecotech, LLC, and Tianjin Golden Wheel Group Co., Ltd.
KEY MARKET SEGMENTS
By product type
- Pedelecs
- Throttle on demand
- Scooter & motorcycle
By drive mechanism
- Hub motor
- Mid-drive
- Others
By battery type
- Lead-acid
- Lithium-ion
- Nickel-metal hydride (NiMH)
- Others
Leveraging the throttle on-demand drive mode, users reach the destination effortlessly. Electric scooters and motorcycles have been competing with conventional scooters and motorcycles running on fossil fuels. The advantages offered by electric scooters and motorcycles are lower operating costs and eco-friendly nature.
The different types of drive mechanisms of e-bikes are hub motor, mid drive, and others. The hub motor is the most common drive mechanism in which either of the wheel is replaced with one having a hub motor connected by a wire to a battery or motor controller. Majority of e-bike companies use batteries, such as Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and others. The lead acid battery is the leading type used in electric bikes, owing to its low cost and ease of recycling. However, popularity of Li-ion batteries has been growing at the highest rate because of their higher capacity with lesser size and weight.
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The global electric bikes market growth is driven by government support and stern rules in favor of electric bikes coupled with growing consumer inclination toward use of e-bikes as an eco-friendly and efficient solution for commute and increasing fuel costs. Moreover, rising interest in cycling as a fitness and recreational activity further augments the growth of the market. However, high costs of e-bikes and ban on use of e-bikes in major cities in China are anticipated to restrict the market growth.
The global electric bikes industry is segmented on the basis of product type, drive mechanism, battery type, and region. On the basis of product type, the market is segmented into pedelecs, throttle on-demand, and scooter & motorcycle. By drive mechanism, the market is segmented into hub motor, mid-drive, and others. Battery-wise, the market is classified into Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Electric Bikes Market Report allows you to:
– Formulate significant Electric Bikes competitor information, analysis, and insights to improve R&D strategies
– Identify emerging Electric Bikes players with the potentially strong product portfolio and create effective counter-strategies to gain competitive advantage
– Identify and understand important and diverse types of Electric Bikes under development
– Develop global Electric Bikes market-entry and market expansion strategies
– Plan mergers and acquisitions effectively by identifying major Electric Bikes players with the most promising pipeline
– In-depth analysis of the product’s current stage of Electric Bikes development, territory and estimated launch date
Reason to Buy
To describe define and analyses the Electric Bikes Industry centered on product type, application, and region.
To forecast and analyses the Global Electric Bikes market at country-level in each region.
To analyze each Sub-market with respect to individual growth trends and its particular participation to the Electric Bikes Market.
To strategically profile key players in the Electric Bikes Industry and comprehensively analyze their growth strategies
To identify important Electric Bikes market Trends and factors driving or preventing the growth of the market.
To examine changes in the Electric Bikes Industry for investors by identifying high-growth segments of the market.
To assess competitive progress for example Expansions, risks, brand new services/products launches, and acquisitions in the Electric Bikes Industry.
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