Electric Bike Market is Expected to Reach a Valuation of US$122.1 Billion by 2032, at a CAGR of 10% | Future Market Insights, Inc.

NEWARK, Del, Sept. 15, 2022 (GLOBE NEWSWIRE) — The global e-bike market is expected to reach a value of US$122.1 billion in 2032, with sales growing at a robust CAGR of 10% over the period. forecast from 2022 to 2032. In 2022, the electric bicycle market is expected to reach approximately US$52.05 billion. The convenient, adaptable and environment-friendly transportation made possible by e-bikes propels the target market to grow over the projected period.

Small in size, e-bikes are gaining popularity with consumers as an alternative to scooters, mass transit and smart cars. These bikes are practical, stylish and have the ability to travel long distances on a single charge, reduce traffic congestion and are environmentally friendly. Rising fuel costs, favorable government policies, and changing consumer preferences are some of the factors driving the growth of the e-bike market.

Furthermore, the implementation of conducive policies for the provision of relevant infrastructure is expected to complement the growth of the market. Many European countries such as Germany, France and Spain are focusing on making the construction of e-bike infrastructure a priority and are also trying to increase annual expenditure to accelerate the creation of a network of e-bikes. connected and secure. These initiatives are helpful in removing barriers to cycling and promoting multiple opportunities for e-bike manufacturers. Thus, the growing legislative contribution is likely to boost the e-bike market.

Other factors fostering a growth environment for the e-bike market are municipal bike-sharing programs across the globe, awareness of the health benefits of riding an e-bike, and the rise of micro-mobility shared electricity. Despite a promising future, the market is likely to face some challenging factors. High purchase costs are expected to hamper the market growth of the e-bike market over the projected period.

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Favorable government policies and initiatives coupled with growing awareness of attendant health benefits will propel the growth of the electric bicycle market during the forecast period,” says an IMF analyst.

Key points to remember:

  • Increase shared mobility to generate more market opportunities.
  • High purchase costs are hampering the growth of the market.
  • North America is expected to show impressive market growth over the forecast period.
  • The Asia-Pacific region is likely to dominate the market over the assessment period.
  • By product type, pedestals are expected to grow at a CAGR of 3.2%.
  • The lead-acid battery segment will account for 85% of the overall market share.

Competitive landscape

ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd . ., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company SpA, Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle, and Accell Group, among others, are some of the major electric bicycle players. market which are presented in the full version of the report.

The major players in the market are focusing on product development, establishment of new facilities and portfolio expansion. These companies also use tactics such as mergers and acquisitions to improve their position in the market.

More information about the Electric Bikes market report

In its latest report, FMI offers an unbiased analysis of the global Electric Bicycle market, providing historic data from 2017 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented on the basis of product type (electric scooter, electric motorcycle, e-bike), battery type (Li-Ion, NiMH, lead-based), technology (plug-in, battery) and region .

According to the latest IMF reports, based on the region, the Asia-Pacific e-bike market is expected to dominate the global space. This is due to the immense popularity of two-wheelers as a mode of transport in the APEJ region. It is the largest market for e-bikes and is expected to grow at a CAGR of 3.2% while presenting a market opportunity of US$6.1 billion during the forecast period.

The e-bike market in Europe is expected to flourish during this observation period. Sales of e-bikes are expected to reach around 13.1 million units, with around 60% of these bikes made in Europe, during the forecast period.

Based on the segmentation, by product type, the e-bike segment is expected to lead the market growth. Additionally, the lead-acid battery segment will show strong growth, accounting for around 85% of the market share.

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Contents

1. Summary

1.1. Insight

1.2. Market analysis

1.3. MFI analysis and recommendations

1.4. Wheel of Fortune

2. Presentation of the market

2.1. Market Taxonomy

2.2. Market definition

3. Market perspective

3.1. Macroeconomic factors

3.1.1. Global industry added value

3.1.2. Global GDP Growth Prospects

3.2. Opportunity analysis

4. Global Electric Bicycle Market Analysis 2017-2021 and Forecast 2022-2032

4.1. Introduction

4.1.1. Market Volume Projections

4.1.2. Market size and annual growth

4.1.3. Absolute $ Opportunity

4.2. Value chain

5. Prediction factors: relevance and impact

The table of contents continued…!

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