Global E-mountain Bike Market- Market Size & Forecasting To 2032

Global E-mountain Bike Market- Market Size & Forecasting To 2032

The E-Mountain Bike Market is estimated to be USD 8.73 billion in 2023 and is projected to reach USD 24.94 billion by 2032, at a CAGR of 12.37% during the forecast period. As the younger generation is showing great interest in trekking and leisure activities, the e-mountain is rising rapidly. Similarly, people are increasingly interested in performance-based adventure sports, which are expected to increase the demand for e- mountain bikes.

Sports and physical activity, through electric motors, are becoming more adaptable. Long drives over the hills are becoming easier, and with much less effort, steep terrain can be overcome. With the same amount of effort as on flat land, longer distances can be done - all of which draws even keen mountain bikers to the E-Mountain Bike. Moreover, rising demand for electric vehicles, and technological advancement in two-wheeler bike is expected to create numerous opportunities for this market to grow in the coming years. However, mass production of the E-mountain bike system is expected to reduce the price in the forecast period.

E-Mountain bike market has been divided into class, application, battery and region.

Based on class type, market has been divided into Class-I, Class-II and Class-III. Among these, Class-I E- mountain bike projected to gain significant growth during the forecast period. Rising demand for fuel- efficient vehicles, increasing concern about automotive emissions, growth in electric vehicle propel the demand for the market.

Based on the application, market has been divided into leisure and competitions. Among these, Competitions segment projected to gain significant growth during the forecast period. Younger generation showing great interest in the competitions for e-mountain bike fuelling the market growth.

Based on battery, market has been divided into lithium-ion, lithium-ion polymer, lead acid and others. It is estimated that the lithium-ion battery segment accounts for the largest share of the e-bike market because of the various advantages of lithium-ion batteries. Lithium-ion batteries, for example, are eco- friendly, have a longer life cycle, and yield more power to weight ratios than other types of batteries. In recent years, these batteries have also seen a sharp decline in price.

By region, this market is segmented by North America, Asia Pacific, Europe, Middle East & Africa and South America. North America currently dominates the market owing to the involvement of key industry players and high penetration of electric vehicles. Similarly, US governments are in the process to launch programs and policy namely Tier 3. This is for the emission of motor vehicles and fuel standards, which set strict vehicle emission standards for light and heavy-duty vehicles. US government's laws and regulations on automotive emissions are stringent and it resulted to increase the demand for E-Mountain bike market. However, Asia-Pacific is expected to register highest growth rate during the forecast period. Increasing urbanization has resulted in increased purchasing power and increased penetration in countries such as China, Japan, and South Korea of hybrid and plug-in hybrid electric vehicles.

The competitive scenario highlights the performance of major companies operating in this market. This includes detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in the recent years. Major companies profiled in the market include Yamaha Motor, Pedego Electric Bikes, BH Bikes., Beistegui Hermanos SA, Cycling Sports Group Inc, Derby Cycle Holding GMBH , Dorel Industries Inc. , Giant Manufacturing Co. Ltd., Merida Industry Co. Ltd. , Pivot Cycle , Scott Sports SA., Trek Bicycle Corp, XDS Bikes and others. These companies have adopted product development, expansion, and merger strategies to consolidate market position amongst intense competition.