E-Bike Market Size
USD 11.94 Billion USD 21.90 Billion 7.9%
Growing consumer awareness amongst the people for ecofriendly vehicles, different government policies that are boosting the use of E-Bikes in order to combat air pollution and climate change, rising disposable income and increasing health awareness amongst people are some of the factors driving the growth of the E-Bikes market.
COVID-19 Impact on E-Bike market:
Covid-19 pandemic has affected almost all the countries across the globe. Government has restricted public transport and has limited public gatherings. In such cases, E-Bikes are considered as the safest, affordable and convenient option to commute in public. Also, E-Bikes are much cheaper as compared to any other transportation as it does not require any huge investment or any supportive infrastructure. All these factors are expected to boost the E-Bikes market till 2021. However, post Covid-19, the market is expected to return to the normal state.
The pandemic scenario did affect the E-Bike market in a negative manner. All the E-Bike sale was dampened during the first quarter of 2020, as all the shops were closed. But now that the lockdown has been lifted up, many of the countries like U.S., France, India, Japan, China have gradually increased the sales which has boosted the overall market for E-Bikes globally.
The sale of E-Bikes market is expected to increase exponentially after the COVID-19 pandemic in 2021. Considering the comeback of safer private and public transportation like cabs, buses or metros, the demand for E-Bikes expected to grow at a moderate rate.
"Final Report will cover a detailed analysis regarding the impact of COVID-19 on this industry."
Class-III segment of class type is projected to grow with the fastest CAGR of 8.9% of the global E-Bike market during 2020 to 2027
Class-III segment is projected to grow at a fastest CAGR of the global E-Bike market during the forecast period. Class-III E-Bikes are pedal assisted electric bikes and have a high speed. It provides assistance only when the rider is pedaling and stops it when 28-mph speed is reached.
Due to its high speed, these bikes are expected to gradually replace the cars in various countries. Due to its high-power class than the other two classes, these E-Bikes are restricted to run on certain bike paths and bike trails. Class-III E-Bikes are currently allowed to run only on private properties, adjacent bike lanes and on the roads. These factors will lead to the high growth of Class-III E-Bikes in the forecast period.
Mid motor segment of the global E-Bike market is expected to grow at the fastest CAGR of 8.7% during 2020 to 2027
Mid motor segment offers various benefits when compared to the hub motor market, thus leading for the fastest growth rate. Mid motor has a nicer weight distribution wherein the motor is positioned at the bottom bracket of the bike in between the pedals. This ensures a central and low center of gravity and the riders don't get a feeling of the additional weight.
This gives the E-Bike having the mid motor a greater tracking stability and a higher efficiency. Majority of the North American and European E-Bike manufacturers are now shifting to mid motors from hub motors due to the advantages it offers. Its seamless integration, lesser noise, light weight and smaller size makes the mid motor to grow with a faster pace in the forecast period.
Pedal assisted E-Bikes segment of the E-Bikes market to grow with a higher CAGR during the forecast period
Pedal assisted E-Bikes are expected to grow gradually with a high CAGR during the forecast period of 2020 to 2027. Various developing as well as developed countries have started providing services with pedal assisted bikes replacing the two-wheeler ride sharing, thus making it a lot cheaper. Government in these countries is also taking initiatives and promoting for eco-friendly commute by proving the consumers with various tax benefits.
Pedal assist unlike the throttle mode is allowed on any paved surface. Also, pedal assist offers various options having plenty of power and range for most uses. People who are health conscious prefer pedal assisted E-Bikes over the throttle ones, as the pedal assist E-Bike replicates the natural pedaling movement that of the conventional bicycle and gives strong legs with lot more muscle power.
Some of the best Companies in E-Bikes Market analysis
Pon.Bike (US), Trek Bicycle corporation (U.S.), Pedego Electric Bikes (U.S.), Bionx International Corporation (Canada), Derby Cycle Holding Gmbh (Germany), Robert Bosch GmbH (Germany), Energica Motor Company (Italy), Accell Group N.V. (Netherlands), Mahindra & Mahindra ltd (India), Merida Industry Co., Ltd. (China), Yamaha Motor Corporation (Japan), Panasonic Corporation (Japan), Shimano Inc. (Japan), Giant Manufacturing Co., Ltd. (Taiwan), Others
Asia Pacific to be the largest E-Bike market during the forecast period of 2020 to 2027
Asia Pacific acquired the largest share in 2019 and is expected to dominate the market in the forecast period. However, North America is projected to grow with the highest CAGR throughout the forecast period. Other regions like Latin America and MEA are also expected to show a significant rise in the near future due to the growing awareness of using the ecofriendly products.
Europe acquired around 33.2% of the global E-Bike market in 2019
European region is expected to be the second largest region in the global E-Bike market. This region was dominated by the countries like Germany, which is later followed by France and Italy. Due to the stringent policies by government to follow social distancing and the public transport being reduced during the pandemic, these countries have started getting an inclination towards the E-Bikes.
E-Bikes are a preferred mode of mobility in the countries like Germany, Italy and France. Various innovative characteristics, stylish designs, fully integrated batteries and usage of high-quality materials are some of the factors responsible for attracting more customers towards the E-Bikes. E-Bikes are also considered affordable, convenient and the safest alternative to the increasing air pollution.
A sudden increase in the sales is observed in the European countries during the pandemic which is expected to help this region in maintaining its second highest position in the global markethttps://www.marketwatch.com/press-release/europe-e-bike-market-size-growth-analysis-industry-report-2021-2027-2020-12-29?tesla=y