Market Research Future's study of the global e-bike market has uncovered various important details of the market and has detailed factors likely to influence the market both positively and negatively for the forecast period from 2017 to 2022. Secondary data in MRFR's research reveals the growth of the market at more than 4% after 2022.
E-bikes or electric bikes have Li-ion chargeable batteries which provide the rider with nearly 100 miles in a charge, making it highly convenient for day to day use. Increasing environmental consciousness and the increasing shift toward the adoption of environmentally responsible vehicle options are expected to contribute significantly to the growth of the global e-bikes market. Moreover, increasingly, urban consumers are adopting adventurous activities into their lifestyles, and e-bikes are a huge part of that. Urban consumers have high disposable incomes which have been conducive to market growth in recent years. The increased interest in e-bikes has led manufacturers to invest in the development of e-bikes and focus on changing the design to create more demand in the coming years. The latest in e-bikes can provide real-time information regarding current speed and the battery status so that consumers can be mindful. Additionally, startups are popping up in big cities to set up e-bike rental services which will lead to market growth.
However, the high expense associated with e-bikes is likely to deter demand. Notably, manufacturers are taking this into account and are looking for ways to cut costs without compromising on quality to increase sales during the review period. This is likely to result in market opportunity during the coming years. Additionally, stringent government laws regarding e-bikes are restraining market growth. However, the potential e-bikes offer to relieve traffic in congested cities is expected to offer the market room to grow.
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the market divides it on the basis of type, battery frame material, a consumer group, design, and region. Types of e-bikes have been segmented into pedal assist, throttle control, and others.
Battery types used in e-bikes include sealed lead-acid, lithium ion, and others.
The frame material for e-bikes has been segmented into carbon steel, aluminum, aluminum alloy, carbon fiber, and others.
Consumer groups targetted in the market have been segmented into men, women, and children.
Designs of e-bikes have largely been segmented into foldable, and non-foldable.
The European market is expected to make a significant impact on the global e-bike market due to the high presence of bike riders in the region and the growing adoption of e-bikes by consumers in the region. Europe has highly supportive laws regarding environmentally conscious products and as such are promoting the adoption of e-bikes.
The North American market is also significant due to the high traffic congestion in large cities present in the region. These cities are looking for alternative methods which are convenient and do not add to the existing problem. Moreover, the demand for environmentally conscious modes of transport are increasing sales of e-bikes.
MRFR's analysis of the market includes the study of the competition in the market and the strategies that they use. Pedego, Easy Motion Electric Bikes, Stromer, Jiangsu Xinri E-Vehicle Co. Ltd, Panasonic, Yadea Technology Group Co. Ltd, BTS machinery Co., Ltd, Derby Cycle AG, and Accell Group are among the prominent market players that have been included in the report.
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