Favorable government regulations and policies, surge in fuel costs, and rise in interest in cycling as a fitness & recreational activity drive the growth of the global electric bicycle market. However, surge in purchase and maintenance cost of electric bicycles restrains the market growth. On the other hand, improvements in bicycling infrastructure & battery technology and rise in trend of connected electric bicycles present new opportunities in the coming years.
The global electric bicycle market size generated $24.90 billion in 2020, and is estimated to reach $66.53 billion by 2030, witnessing a CAGR of 10.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
The electric bicycle has an integrated electric motor, pedals, and rechargeable batteries for forwarding propulsion. E-bicycle allow commuters to travel greater distances and at higher speed than conventional bicycles. They are less expensive than electric scooters, motorcycles, and mopeds, and do not require insurance or a license. E-bicycle is an upcoming technology that has already gained traction in various countries, including the U.S., Netherland, China, India, and Japan. Furthermore, various initiatives by governments for adoption of small electric mobility is expected to create numerous opportunities for key players operating worldwide.
Electric Bicycle Market Segment Overview
The report offers detailed segmentation of the global electric bicycle market based on motor type, battery type, application, consumer segment, power output, and region.
Based on battery type, the lithium ion (Li-ion) segment contributed to the highest share in 2020, accounting for more than three-fourths of the total market share, and is estimated to maintain its dominant share by 2030. Moreover, this segment is projected to manifest the highest CAGR of 11.2% from 2021 to 2030. The report also analyzes the segments lead acid and others.
Request Sample Report: https://www.alliedmarketresearch.com/request-sample/A11765
Based on application, the daily commute segment held the largest share in 2020, accounting for more than half of the global electric bicycle market. However, the fitness segment is estimated to witness the fastest CAGR of 13.3% during the forecast period.
Based on region, Asia-Pacific accounted for the highest share in 2020, contributing to more than half of the total market share, and is projected to continue its leadership status by 2030. However, LAMEA is projected to portray the fastest CAGR of 14.6% during the forecast period.
Electric Bicycle Market Key Players
Leading players of the global electric bicycle market analyzed in the research include Accell Group N.V., Derby Cycle, CSE EV Group Co. Ltd., Fuji-ta Bicycle Co. Ltd., Merida Bikes, Giant Group, Trek Bicycle Corporation, Yadea Technology Group Co., Ltd., Royal Gazelle, and Yamaha Motor Corporation.
The report provides a detailed analysis of these key players in the global market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in the country. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/A11765
Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
