The electric bicycle market is driven by a growing
preference for active and eco-friendly transportation. Advancements
in motor technology and subscription models are making e-bikes more
accessible and appealing to consumers. The market is expected to
see significant growth in Asia,
particularly in Japan (5.3% CAGR)
and China (5.1% CAGR), alongside
increasing popularity of electric cargo bikes for deliveries and
mountain bikes for recreational use.
NEWARK, Del., May 6, 2024 /PRNewswire/ -- The global
electric bicycle market will reach a valuation of
US$ 4.0 billion in 2024,
attributed to factors including global expansion opportunities. The
trend is set to create new opportunities for the market, leading to
a projected CAGR of 5.1% between 2024 and 2034, and reaching
a total valuation of approximately US$
6.6 billion by 2034.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19578
Subscription based models for e-bikes are emerging, allowing
consumers to access high quality electric bicycles without the
upfront cost of ownership. The services often include maintenance,
repairs, and insurance, providing a hassle free experience for
users.
Advances in electric motor and drive system technology are
leading to more efficient and reliable e-bikes with improved
performance and range. Brushless motors, regenerative braking
systems, and integrated torque sensors are some examples of
innovations driving market growth.
Changing consumer preferences towards active transportation
modes, such as walking, cycling, and e-biking, are driving demand
for e-bikes as a convenient and eco-friendly alternative to cars.
The demand for electric cargo bikes is increasing, driven by the
growing need for sustainable last mile delivery solutions in urban
areas.
Electric cargo bikes offer businesses a cost effective and
environmentally friendly alternative to traditional delivery
vehicles. Electric mountain bikes, equipped with powerful motors
and robust suspension systems, are gaining popularity among outdoor
enthusiasts.
The segment represents a niche market within the broader e-bike
industry and offers opportunities for specialized product
development. Manufacturers are exploring the use of sustainable
materials in e-bike production, such as recycled metals, bio based
plastics, and bamboo frames. The trend aligns with consumer
preferences for eco-friendly products and contributes to the
overall sustainability of the industry.
Key Takeaways from the Market Study
- Global electric bicycle market was valued at US$ 3.8 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of
4.6%.
- The market in Japan to expand
at a CAGR of 5.3% through 2034.
- By battery type, the li-ion segment to account for a share of
40.6% in 2024.
- The market in China will
expand at a CAGR of 5.1% through 2034.
- In terms of mode, the throttle assist segment to account for a
share of 60.4% in 2024.
"Collaborations between e-bike manufacturers, technology
companies, and other industry stakeholders can drive innovation and
expand market reach," says Nikhil Kaitwade (Associate Vice
President at Future Market Insights, Inc.).
Competitive Landscape
Prominent players in the electric bicycle market are Accell
Group, CSE EV GROUP CO LTD, Derby Cycle, Fuji-ta Bicycle Co. Ltd.,
Giant Manufacturing Co., Ltd., Merida Industry Co, Ltd, Royal Dutch
Gazelle, Trek Bicycle Corporation, Yadea Group Holdings Ltd, and
Yamaha Motor Co. Ltd., among others.
Key Development
- In 2021, Merida Bikes enhanced its eBIG.TOUR bicycle,
introducing the eBIG.NINE 400 EQ, a specialized and comfortable
touring e-bike. The model features Shimano's EP8 motor, renowned
for its powerful and exceptionally smooth power delivery. The
system boasts overall quietness, providing riders with a serene and
enjoyable cycling experience.
Company Portfolio
- Derby Cycle is a prominent player in the electric bicycle
market, offering a portfolio of brands such as Kalkhoff, Focus,
Raleigh, and Univega. Their
electric bike range includes city bikes, trekking bikes, mountain
bikes, and cargo bikes, designed to provide comfort, performance,
and reliability for urban and off road riding.
- Fuji-ta Bicycle Co. Ltd. is a leading manufacturer of bicycles,
including electric bicycles, offering a wide range of models
tailored to different consumer segments and market preferences.
Their electric bicycles feature innovative designs, quality
components, and competitive pricing, making them popular choices
among riders worldwide.
Purchase now and gain full access to
the Electric Bicycle Battery Industry report, featuring
comprehensive Market Forecast, Company Share Analysis, Competition
Intelligence, DROT Analysis, Market Dynamics and Challenges, and
Strategic Growth Initiatives.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global
electric bicycle market, providing historical data for 2019 to
2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the electric bicycle market, the
market is segmented on the basis of class (class I, class II, class
III), battery type (li-ion, li-ion polymer, lead acid), and motor
type (hub motor, mid motor), mode (throttle assist, pedal assist)
and usage (city, trekking, cargo), across seven major regions
(North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
About the Automotive Division at Future Market
Insights
The automotive team at Future Market Insights offers expert
analysis, time efficient research, and strategic recommendations
with the objective to provide authentic insights and accurate
results to help clients worldwide. With a repertoire of over 100+
reports and 1 Billion+ data points, the team has been analyzing the
market lucidly in 50+ countries for over a decade. The team
provides a brief analysis on key trends including competitive
landscape, profit margin, and research development efforts.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
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