The global E-bikes market predicted to grow with a noteworthy rate during the forecast period 2020-2027, owing to the surge in adoption of the electric vehicle approaches from the fuel vehicle approach. The global E-bikes market will bolster by the growth in demand because of the youth focusing on a fitness regime, sports, fully integrated battery vehicle, and appealing design. These growth drivers are the reason for witnessing higher demand mainly across the globe.
Additionally, youth has started adopting the e-bikes market mainly for leisure and recreational activities (mountain trekking) to promote fitness habits. With e-bikes, ease of traveling has increased, and also less strength is applied while pedaling the bicycle has increased the demand in the market. Due to urbanization, the population is rising, and mobility is getting more comfortable with the growing automotive sector. Therefore, pollution caused by the automotive segment has alerted the automotive manufacturer to produce battery-based products. Therefore, e-bikes help in reducing pollution, and with hub motors attach in, and it provides a pleasant ride and experience to the rider.
Moreover, increasing environmental concern and reduce pollution pooling of vehicles is the new trend in the market. Therefore, sectors like logistics and e-bike rental services are expected to drive the e-bikes market. Additionally, the government in many regions is very keen on investing huge amounts and started taking the initiative to implement various schemes related to e-bikes. Therefore, e-bikes market demand expected to increase in the forecast period 2020-2027.
Product Type Overview in the E-bikes market
Based on Product Type, the global E-bike Market categorized into a pedal-assist bicycle and Throttle assist bicycles. Throttle assist mode expected to boost the market in the forecast period. Owing to factors similar function performed in e-bikes like scooter and motorcycle where motor provides power and moves the bike forward without any pedaling at all. Moreover, pedaling e-bikes provide a burst of power with the electric motor to make it feel like riding a regular bike and gives the rider a more intuitive feel compared to throttle assistance.
Battery Type Overview in the E-bikes market
Based on the battery type, the market classified into Lithium-ion, Lithium-ion polymer, and Lead Acid, and others (Nickel Metal hydride, Lithium Titanate, Lithium-ion Phosphate). Lead-acid expected to boost the market among other battery types e-bikes. The lead-acid battery used in e-bikes as these batteries can be recycled easily and low in cost; also, they are readily available in the market and provide a better experience to the rider during trekking as well.
Motor Type Overview in the E-bikes market
Based on the motor type, the global E-bikes market classified into Hub Motor, Mid Motor, Friction Drive Motor, and Others. The hub motor anticipated to capture the market in the forecast period due to the torque in e-bikes that helps in providing smooth and effortless riding experience.
Controllers Type Overview in the E-bikes market
Based on controllers, the global E-bikes market bifurcated into the brushed motor and Brushless motor. The brushless motor segment has created demand in the market due to high torque applied initially, which improves the speed of e-bikes and reduce stress on pedaling.
Application Type Overview in the E-bikes market
Based on the Application, the global E-bikes market classified into Urban City, Trekking/Mountain bike, Sports-bike, and others. Trekking/ mountain bike majorly captured the market share of e-bikes in 2019. Recreational activities like trekking, racing is preferred by the riders who prefer adventure and fitness of the body.
Regional Insights Overview in the E-bikes market
Based on the region, the Global E-bikes market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is anticipated to generate maximum revenue in the global E-bikes market. Owing to, promote an environment-friendly vehicle with new technology, and a reduction in the price of the battery is likely to increase significant growth areas in different regions.
Competitive Landscape
Companies such as Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Aima Technology Group Co., Ltd, Yadea Group Holdings Ltd, Pedego Electric Bikes, Merida Industry Co. Ltd, X- Treme, IZIP e-bikes, Specialized Bicycle Components, Rad power bikes, Riese & Muller and others the key players in the Global E-bikes market.
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