With the growth in automotive industry, there has been rise in the air pollution. To control the emission rate, inclination towards green and clean mobility solutions for daily commute is growing. This is leading to increased demand for e-Bikes globally.
New York, July 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-Bike Market by Class, Speed, Battery Type, Motor Type, Mode, Component, Usage, Ownership and Region - Forecast to 2027" - https://www.reportlinker.com/p05754128/?utm_source=GNW
Asia Oceania is forecasted to lead the e-Bike market.
e-Bikes assist in optimum utilization of space and helps in faster commute in urban and highly populated areas. Governments of many countries in Europe, North America, and Asia Oceania are working toward supporting the usage of e-Bikes through subsidies and regulatory changes to reduce the stress of traffic congestion which is ultimately helping to decrease the emissions and improving the air quality. For instance, in Italy, the government offers a subsidy of up to USD 527 in municipalities with a population of over 50,000 inhabitants to purchase new bicycles and e-Bikes. Therefore, such initiatives are attracting the consumers for the use of e-Bikes.
Rising popularity for last mile delivery to spur the adoption of cargo e-Bikes
Due to growing competition, customer satisfaction is majorly focused by delivery companies. To attain the same, companies are opting for faster and last mile delivery solutions. A study by the World Economic Forum estimates that the demand for last-mile delivery is expected to increase by nearly 78% till 2030 across the world. Due to its sleek design and small size compared to other delivery vehicles, cargo e-Bikes have come up as a solution for the last mile delivery process. In December 2021, Toronto ran a pilot project for cargo e-Bikes and received positive results, with e-Bikes proving nearly 6% faster than the electric vans in city areas.
The government of different countries have also stepped in to support the usage of cargo e-Bikes as it helps to regulate the emissions and also reduce the traffic congestion situations.For example, the French government provides the highest incentive of USD 1,400 for purchasing cargo e-Bikes.
Thus, the rising popularity of the last mile delivery would drive the growth of cargo e-Bikes segment.
Increased demand for low maintenance commute to lead the adoption of Pedal Assist e-Bikes
In pedal assist mode, the major advantage is the prolonged life of both battery and the motor because in full throttle assist mode, a lot of strain is developed on the motor and the battery, impacting the life cycle of the battery.Many major e-Bike manufacturers and new startups are developing the best-performing pedal assist e-Bikes.
For instance, in January 2022, VAAN Electric Moto (India) launched new series of pedal assist e-Bikes in India. Thus, as pedal-assist e-Bikes have a longer life and require low maintenance, there is an increased demand for the adoption of pedal assist e-Bikes.
Europe is anticipated to be the second largest market for e-Bikes in 2022
According to MarketsandMarkets statistics, Europe is projected to hold the second largest share of the e-Bikes market by 2027 because of the European consumers’ preference for greener e-mobility solutions over buying cars and using public transport for the daily commute.This has resulted in nearly 52% increase in sales in 2020.
Europe has been among the most developed market in terms of development of infrastructure such as bicycle paths for the usage of e-Bikes. As per the Confederation of the European Bicycle Industry (CONEBI), investments in innovations and development in Europe for the e-Bike market topped an amount of nearly USD 1.72 billion, up from USD 1.6 billion in 2019. Rising air pollution, fuel prices, traffic congestions and government incentives for purchase of e-Bikes are some of the primary factors leading to the high penetration of e-Bikes in the European mobility ecosystem. The technology transfer has led to growth in the number of local players which is expected to reduce the cost of e-Bikes adaptation in the region. Hence the region is expected to increase its share during the forecast period.
In-depth interviews were conducted with CXOs, VPs, directors from business development, marketing, product development/innovation teams, independent consultants, and executives from various key organizations operating in this market.
• By Company Type: OEM - 70%, Tier I - 30%
• By Designation: D Level - 30%, C Level - 60%, and Others - 10%
• By Region: Asia Oceania - 50%, Europe - 20%, and North America - 30%
The e-Bike market comprises of prominent players such as Accell Group NV (Netherlands), Pon.Bike (US), Merida Industry Co. Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Company (Japan).
The study segments the e-Bike market and forecasts the market size based on Class (Class-I, Class-II, Class-III), Speed (Up to 25 km/h, 25-45 km/h), Battery Type (Lithium-ion, Lithium-ion Polymer, Lead Acid, and Others), Motor Type (Hub, Mid), Mode (Pedal Assist, Throttle), Component (Batteries, Electric Motors, Frames With Forks, Wheels, Crank Gears, Brake Systems, and Motor Controller), Usage (Mountain, Trekking, City/Urban, Cargo, and Others), Ownership (Shared, Personal) and Region (Asia Oceania, Europe and North America).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall e-Bike market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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