Asia-pacific E-bike Market 2022-2028

Asia-pacific E-bike Market 2022-2028

MARKET OUTLOOK

A Triton Market Research report depicts that the e-bike market in the Asia-Pacific is likely to grow with CAGRs of 9.54% and 9.63%, by revenue and volume, respectively, in the forecast duration from 2022 to 2028. India, China, Thailand, Japan, South Korea, Vietnam, Australia & New Zealand, Indonesia, and Rest of Asia-Pacific together comprise the market in this region.

China contributes largely to the e-bike market in terms of value. The efforts to tackle the growing vehicular pollution and traffic congestion issues have resulted in the high adoption of electric bikes in the country. Further, gasoline prices have risen considerably and electricity has become more accessible in rural areas, thus resulting in an increased preference for e-bikes. Therefore, the e-bike market in China is anticipated to expand further in the coming years.

Owing to the rising exhaust emissions and volatile fuel prices, coupled with an enhanced focus on health, the demand for bicycles has been on the rise in India. The sale of e-bikes, however, is still e-bikes is still in the nascent stages. The limited adoption of these vehicles can be attributed to their high price and the absence of a well-developed infrastructure. However, with the gradually declining battery prices and an increasing consumer preference for e-bikes, India is expected to gain a higher share in the market.

COMPETITIVE OUTLOOK

The eminent companies in the e-bike market are Derby Cycle, Samsung SDI Co Ltd, Panasonic Corporation, Robert Bosch GmbH, Silence Urban Ecomobility, NIU International, Golden Wheel Group, Vmoto Limited, Shimano Inc, Accell Group, Yadea Group Holdings Ltd, and Jiangsu Xinri E-Vehicle Co Ltd.