Electric Bicycles Market Overview:
The electric bicycle market has seen significant growth in recent years, driven by increasing concerns about the environment, traffic congestion, and the desire for a healthier lifestyle. Electric bicycles, also known as e-bikes, are a type of bicycle that is equipped with an electric motor to assist the rider in pedaling. This allows riders to cover greater distances with less effort and tackle hills with ease.
The e-bike market can be segmented into three main categories: pedal-assist, throttle-controlled, and hybrid. Pedal-assist e-bikes rely on the rider to pedal in order to activate the motor, while throttle-controlled e-bikes can be powered solely by the motor. Hybrid e-bikes offer both options and are often the most popular.
Market Research Future Insights
According to MRFR analysis, the global Electric Bicycles market is expected to register a CAGR of ~ 11% from 2022 to 2030 and hold a value of over ~USD 67 Billion by 2030.
E-bicycles are becoming increasingly popular because it can travel long distances and are easy to transport. Since the outbreak of COVID-19, people have been increasingly avoiding using public transportation to protect themselves from the virus. As a result, many people have begun purchasing their automobiles and working from them instead. E-bicycles are becoming a popular alternative to cars, as they are more comfortable and cost-effective. This charging solution is simple to use and very affordable.
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Regional Analysis
The Asia Pacific region dominates the e-bicycles market due to factors such as the extensive bicycle infrastructure in developed and developing countries, including China and Japan, and the increasing stringency of emission regulations for gasoline motorcycles. North America is also expected to show good growth in the market, with several cities lowering speed limits, closing certain roads to traffic, and adding dedicated lanes for two-wheelers.
Market Segmentation
The global Electric Bicycles market has been segmented into type, and battery type.
Based on type, the market has been segmented into Pedal Assist/ Pedelecs, Power on Demand, and Pedal Assist with Power on Demand. The pedal assist feature is the most popular among bike users because it offers a longer battery life, requires less servicing, and allows users to choose from three to five different modes of pedal assist, depending on the model.
Based on battery type, the market has been segmented into Sealed Lead Acid and Li-Ion Batteries. Lithium-ion batteries are anticipated to grow at a higher rate during the forecast period, due to their superior battery chemistry, higher power-to-weight ratio, efficient charging, higher energy density, and longer battery life cycle.
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Key Players
Some of the key market players are Giant Manufacturing Co., Ltd. (Taiwan), Derby Cycle, Easy Motion (USA), Accell Group N.V. (Netherlands), and Yamaha Motor Corporation (Japan). Merida Industry Co., Ltd. (China). Moustache Bicycles Bike (US), NYCeWheels.
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