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The Global E-bike Market Projected to Surge at $49731.01 Million by 2028

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The Global E-bike Market Projected to Surge at $49731.01 Million by 2028

June 07
19:00 2022
The Global E-bike Market Projected to Surge at $49731.01 Million by 2028
E-Bike Market
As per Triton’s research report, the global e-bike market gathered $25239.55 million in 2021 and is estimated to advance at a CAGR of 10.12% by 2028.

A recent study by Triton Market Research titled ‘Global E-bike Market,’ includes the Global Analysis and Forecasts by Drive Mechanism (Mid-drive, Hub Motor), by Product (Scooters, Throttle on Demand, Pedelecs, Motorcycles), by Power (Less than & Equal to 250 W, Above 250 W), by Application (Cargo, City/Urban, Trekking), by Battery (Lead-Acid, Lithium-Ion), and Regional Outlook (North America, Asia-Pacific, Latin America, Europe, Middle East and Africa).

An electric bike is a bicycle integrated with an electric motor that allows the rider to pedal easily. These bikes are eco-friendly, versatile, flexible, and trendy modes of transport that substitute for scooters, public transport, and even cars.

 

Request a Free Sample of the Global E-bike Market Report @ https://www.tritonmarketresearch.com/reports/e-bike-market#request-free-sample

 

Triton’s report signifies that the global e-bike market is likely to exhibit growth at a CAGR of 10.12% and 9.97% (by revenue and volume) during the considered years 2022-2028. It is predicted to account for $49731.01 million and 61161 thousand unit sales by 2028.

The customers’ perception of e-bikes as an ideal substitute for public transport, scooters, and smart cars has significantly raised the demand for e-bikes. Such e-bikes help in dealing with traffic issues owing to their compact size and high speed. Plus, they also offer plenty of health benefits. These factors are enhancing the demand for e-bikes, thus aiding the development of the market. 

On the other hand, unlike traditional motorbikes, e-bikes are becoming more expensive because of their modern design, motor, mini engine, wiring, and battery power. This is negatively affecting the market growth. Also, the high cost of e-bike batteries and their replacement hinders the adoption of electric bikes.

The e-bike market is segmented into drive mechanism, product, power, application, and battery. The drive mechanism segment is divided into mid-drive and hub motor. The product segment is further sectioned into scooters, throttle on demand, pedelecs, and motorcycles. Based on product, the market consists of less than & equal to 250 W and above 250 W. The application segment of the market includes cargo, city/urban, and trekking. Lastly, the battery segment of the market comprises lead-acid and lithium-ion.

Globally, the Asia-Pacific holds the leading position in the global market and is expected to have a stronghold in the forthcoming years. The massive adoption of e-bikes in populated cities of China and Japan is aiding the growth of the market. Also, in these countries, e-bikes serve as a low-cost commute mode. On the other hand, initiatives from the Indian government have supplemented the demand for environment-friendly vehicles, thereby expanding the market’s growth in the APAC. 

The notable companies listed in the e-bike market are Golden Wheel Group, QWIC, Samsung SDI Co Ltd, Jiangsu Xinri E-Vehicle Co Ltd, Robert Bosch GmbH, Stromer, Yadea Group Holdings Ltd, Derby Cycle, Riese & Müller, NIU International, Accell Group, Shimano Inc, BMZ GmbH, Panasonic Corporation, Brose Fahrzeugteile SE & Co KG, LG Chem, Trek Bicycle Corporation, Vanmoof, Giant Manufacturing Co Ltd, Fuji-ta Bicycle Co Ltd, Vmoto Limited, Silence Urban Ecomobility, and Hero Electric.

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/e-bike-market#purchase-option

 

Question & Answer: E-bike Market

Question 1: What factors are aiding the development of the e-bike market?

Answer: The customers’ perception of e-bikes as an ideal substitute for public transport, scooters, and smart cars has significantly raised the demand for e-bikes. Such e-bikes help in dealing with traffic issues owing to their compact size and high speed. Plus, they also offer plenty of health benefits. These factors are enhancing the demand for e-bikes, thus aiding the development of the market. 

Question 2: What elements are hindering the growth of the market?

Answer: Unlike traditional motorbikes, e-bikes are becoming more expensive because of their modern design, motor, mini engine, wiring, and battery power. This is negatively affecting the market growth. Also, the high cost of e-bike batteries and their replacement hinders the adoption of electric bikes.

Question 3: Which region holds the leading position in the global market?

Answer: Globally, the Asia-Pacific holds the leading position in the global market and is expected to have a stronghold in the forthcoming years. The massive adoption of e-bikes in populated cities of China and Japan is aiding the growth of the market. Also, in these countries, e-bikes serve as a low-cost commute mode. On the other hand, initiatives from the Indian government have supplemented the demand for environment-friendly vehicles, thereby expanding the market’s growth in the APAC. 

Question 4: What are the notable companies listed in the e-bike market?

Answer: The notable companies listed in the e-bike market are Golden Wheel Group, QWIC, Samsung SDI Co Ltd, Jiangsu Xinri E-Vehicle Co Ltd, Robert Bosch GmbH, Stromer, Yadea Group Holdings Ltd, Derby Cycle, Riese & Müller, NIU International, Accell Group, Shimano Inc, BMZ GmbH, Panasonic Corporation, Brose Fahrzeugteile SE & Co KG, LG Chem, Trek Bicycle Corporation, Vanmoof, Giant Manufacturing Co Ltd, Fuji-ta Bicycle Co Ltd, Vmoto Limited, Silence Urban Ecomobility, and Hero Electric.

 

Related Report: 

Global Electric Vehicle Market

The global electric vehicle market is likely to propel at a CAGR of 20.95% during the period from 2019-to 2027, while garnering $747.17 billion worth of revenue by 2027.

The upsurge in the fuel prices and environmental impact of traditional gasoline vehicles has encouraged the adoption of electric vehicles. Unlike traditional automobiles, buyers are inclined to use battery-powered or hybrid vehicles that offer cost-effectiveness. Globally, governments are implementing strict vehicle emission regulations to counteract the amount of greenhouse gas, which has boosted the demand for EVs in the market.

However, the high manufacturing cost of electric vehicles and the lack of EV charging stations have posed a threat to the market’s growth. But government initiatives to limit the impact of greenhouse gas are expected to provide fruitful opportunities for the market’s growth.

 

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