Global E-bike Market 2022-2028

Global E-bike Market 2022-2028

MARKET OUTLOOK

Triton Market Research, in its report, states that the global e-bike market would register growth at a CAGR of 10.12% in the forecasted duration from 2022 to 2028.

Factors such as favorable incentives by the government to promote e-bikes, increased demand for eco-friendly transportation, and a growing number of people preferring e-bikes are boosting the growth of the market.

However, their high cost, an increasing number of product recalls in recent times, and problems related to distribution are likely to hamper this progress.

On the other hand, the increased usage of electric bikes for delivery services has created a growth opportunity for the market. Also, with the rise in fuel prices, e-bikes have emerged as an efficient solution. This is expected to aid the market reach the projected growth.

REGIONAL OUTLOOK

The global market for e-bike spans across the Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.

The Asia-Pacific accounts for the largest share of the e-bike market, globally. The users in this region are increasingly preferring electric bikes over conventional transportation modes, as they are eco-friendly, lightweight, cost-effective, and require less power.

Also, a rise in supportive government initiatives for environment-friendly vehicles and bikes is expected to add to the market’s growth. A matter of concern, though, is the lack of a well-developed transport infrastructure, such as separate lanes for bikers and cycle stands, to accommodate their vehicles.

COMPETITIVE OUTLOOK

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

Accell Group is engaged in designing and manufacturing electric & hybrid bikes, mountain & racing bikes, and luxury bicycles. It manufactures its bikes under the Hercules, Batavus, Lapierre, Koga-Miyata, Loekie, Mercier, Winora, and Sparta brands. The group also produces bicycle accessories. Accell has a strong workforce of more than 3,400 employees. Its bikes and other related products are sold to dealers and consumers in over 80 countries, globally.