Chicago, Illinois--(Newsfile Corp. - October 18, 2021) - According to the new market research report "E-Bike Market by Class (Class-I, II & III), Battery Type (Li-Ion, Li-Ion Polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Component and Region - Global Forecast to 2026", Published by MarketsandMarkets™, the E-Bike Market is projected to reach USD 79.7 billion by 2026 from USD 47.0 billion in 2021, at a CAGR of 11.1%.
Government support and initiatives and positive impact of COVID-19 pandemic on sales of e-bikes will drive the Electric Bike Market.
Browse in-depth TOC on "E-Bike Market"
362 - Tables
58 - Figures
274 - Pages
Accell Group N.V. (Netherlands), Pon.Bike (US), Merida Industry Co., Ltd. (Taiwan), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Corporation (Japan). are the leading manufacturers of e-bikes in the global market. These companies adopted new product development, and expansion strategies to gain traction in the E-Bike Market.
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Class-I segment is expected to be the largest segment during the forecast period
Class-I segment, by class type in e-bikes is expected to be the largest segment during the forecast period as Asia Pacific countries. which is a major market for e-bikes, such as China, Japan, South Korea, and Taiwan allow only Class-I e-bikes. This results in the Class-I e-bikes occupying the largest market share in the Asia Pacific region.
The mountain/trekking e-bike segment by usage is expected to be the fastest-growing market
The demand for mountain/trekking e-bikes is growing rapidly as consumers increasingly show interest in trekking and recreational activities. There is a growing interest in performance-based adventurous sports, which, in turn, increase the demand for mountain/trekking e-bikes. Sports and physical activities are becoming more adaptable through electric motors. In many countries, mountain e-bikes are not only used for mountain trekking but also for daily commutation. The main reason for the growing popularity of mountain e-bikes is their robustness.
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Asia Pacific is estimated to be the dominant regional market
Asia Pacific is anticipated to lead the Electric Bike Market during the forecast period due to the high sales of e-bikes in the region. According to MarketsandMarkets analysis, in terms of volume, Asia Pacific contributed about ~88% to the global E-Bike Market in 2020 by volume. Key e-bike manufacturers in this region include Yadea Group Holdings Ltd., AIMA Technology Group Co., Ltd., and Merida Industry Co., Ltd. Class-I e-bikes accounted for the largest market in Asia Pacific, as government regulations permit only Class-I e-bikes, except for India where the market for Class-II e-bikes exists due to lack of strict regulations.
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