Market Research Future Insights
According to MRFR analysis, the global Bike Market is expected to register a CAGR of ~7.89% from 2022 to 2030 and hold a value of over USD 84.26 billion by 2030.
Bike are bicycles with an integrated electric motor drive system and a battery that generates electricity for propulsion or propulsion assistance. Electric bikes come in many varieties, from those with a modest motor to help the rider's pedal to more powerful models that may be throttled to operate the bike as its whole.
Bike are a convenient, adaptable, environmentally responsible, and stylish form of transportation. They are viewed as the best replacement for scooters, smart vehicles, and public transportation by consumers. Due to their lower size, ability to travel farther on a single charge, and positive effects on health, Bike can help reduce traffic congestion. These elements contribute to the global increase in the popularity of electric motorcycles.
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Regional Analysis
Europe holds the biggest market share for Bike. Severe government regulations on car emissions and the quick adoption of Bike throughout the area will further increase demand for Bike in the European region. Additionally, the UK's e-bike market was the one in Europe with the quickest rate of growth, while Germany's e-bike market had the greatest market share.
The Asia-Pacific Bike Market is anticipated to see the quickest CAGR growth. This is brought on by rising sales of electric cars and the accessibility of low-cost raw materials. Additionally, the Indian e-bike market had the highest rate of growth in the Asia-Pacific region, while China's e-bike market had the greatest market share.
Market Segmentation
The Global Bike Market has been segmented into Battery, Type, Frame Material, and Consumer Group
Based on the Battery, the market has been segmented into Lithium-Ion, Sealed Lead-Acid, and Others.
Based on the Type, the market has been segmented into Pedal Assist, Throttle Control, and Others.
Based on the Frame Material, the market has been segmented into Carbon Fiber, Carbon Steel, Aluminum, Aluminum Alloy, and Others.
Based on the Consumer Group, the market has been segmented into Men, Women, and Children.
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Key Players
Some of the key market players are Accell Group N.V., Pon Bike, Merida Industry Co. Ltd, Giant Manufacturing Co. Ltd, Yamaha Motor Corporation, and others.
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