Electric Bikes Market Size, Share, Growth, and Industry Analysis, By Type (Pedal-assisted & Throttle-assisted), By Downstream Industry (Online Store, Specialty Store, Supermarket, & Others) and Regional Forecast to 2032

Updated On: 04 November 2024

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ELECTRIC BIKES MARKET REPORT OVERVIEW

The Electric Bikes Market Size was Valued at US$ 9664 Million in 2023. The Market is likely to Surpass US$ 13996.7 Million by 2032 at a CAGR of 3.77% During the Forecast period [2024-2032].

Electric bikes, or e-bikes, integrate the ease of conventional bicycles with the delivered benefit of an electric powered motor, that can help with pedaling or even offer full propulsion. This combination makes e-motorcycles an attractive option for a extensive variety of purchasers, consisting of city commuters seeking to avoid traffic congestion, recreational riders in search of to extend their variety and discover new areas, and older adults or those with bodily obstacles who want to revel in cycling without excessive stress. The market's enlargement is also supported by means of advancements in battery generation, that have stepped forward the overall performance, range, and affordability of e-motorcycles.

Moreover, authorities duties and tips promoting sustainable transportation and decreasing carbon emissions have further propelled the e-bikes market. Many towns globally are making an funding in cycling infrastructure, collectively with devoted motorcycle lanes and parking facilities, to inspire using bicycles and e-motorcycles. Subsidies and incentives for purchasing e-motorcycles, along pointers on vehicle usage on the town areas, have moreover contributed to the market's boom. Additionally, the upward thrust of bike-sharing programs that encompass e-bikes has prolonged their visibility and accessibility to a broader goal market.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Factory Shutdowns

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Supply chain disruptions because of lockdowns and manufacturing facility shutdowns brought about delays in manufacturing and distribution of e-bikes and their components. This resulted in inventory shortages and longer waiting instances for customers. Moreover, financial uncertainty and decreased disposable earnings for the duration of the pandemic duration induced a few clients to delay or reconsider discretionary purchases like electric motorcycles. Retail shops and dealerships confronted brief closures, restricting the ability of consumers to bodily try to purchase e-bikes, although this turned into partly mitigated with the aid of a shift to on-line sales channels.

LATEST TRENDS

"Surge in Subscription Models to Drive Market Growth"

The Electric Bike Market is experiencing a surge in subscription models. This approach allows purchasers to get admission to e-motorcycles without a massive prematurely investment, potentially expanding the marketplace attain and ridership. Subscription plans generally involve a lower monthly charge compared to the in advance fee of buying an e-motorbike. This makes e-motorcycles greater reachable to a much wider variety of riders, mainly those who are uncertain approximately lengthy-time period possession or need to try out e-bikes earlier than committing. Subscription fashions frequently offer special levels with access to numerous e-motorbike fashions, allowing customers to pick the choice that fits their needs and riding style. Subscription services can promote a extra sustainable transportation version. By encouraging e-motorcycle use over vehicle possession, these applications can contribute to reduced carbon emissions and traffic congestion in urban areas.

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ELECTRIC BIKES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into pedal-assisted & throttle-assisted:

• Pedal-assisted: Pedal-assisted e-bikes offer motor help handiest whilst the rider is pedaling, enhancing the cycling experience by way of making it less complicated to ride longer distances or address hilly terrain.

• Throttle-assisted: Throttle-assisted e-bikes permit riders to interact with the motor with a throttle, imparting strength on demand without the need to pedal, imparting a greater effortless and scooter-like using revel in.

By Downstream Industry

Based on downstream industry the global market can be categorized into online store, specialty store, supermarket, & others:

• Online Store: Online stores provide a handy platform for purchasers to browse, examine, and buy electric powered bikes from a wide range of manufacturers and models with domestic shipping options.

• Specialty Store: Specialty shops offer expert understanding, personalized carrier, and the possibility for customers to test journey and receive hands-on help with electric powered bikes.

• Supermarket: Supermarkets commonly provide a restrained choice of electric motorcycles, catering to casual purchasers seeking cheap and available transportation solutions.

• Others: Other distribution channels, which include motorcycle-sharing applications and out of doors undertaking stores, make electric bikes reachable for short-time period use and specialized leisure activities.

DRIVING FACTORS

"Increasing Environmental Awareness and Government Support to Boost the Market"

One of the key driving factors in the global Electric Bikes Market growth is the increasing urbanization and limited living spaces in urban areas. The developing challenge over environmental problems, especially air pollution and carbon emissions, has driven clients and governments to search for extra sustainable transportation alternatives. Electric bikes, which produce 0 emissions at some point of operation, are visible as a green opportunity to cars and motorcycles. Governments international are helping this shift through implementing regulations and initiatives that inspire using electric powered bikes. These encompass subsidies and tax incentives for e-bike purchases, investments in biking infrastructure like devoted motorcycle lanes and steady parking, and restrictions on car usage in city areas.

"Technological Advancements and Cost Reductions to Expand the Market"

Technological improvements in battery generation, electric powered automobiles, and substances have significantly stronger the overall performance, range, and durability of electrical bikes. Improvements in lithium-ion batteries, as an example, have led to longer-lasting, lighter, and more efficient strength resources for e-bikes, making them greater sensible for each day commuting and long-distance travel. These technological and price-associated trends are riding the marketplace by means of making electric powered bikes extra accessible and appealing to consumers.

RESTRAINING FACTOR

"Infrastructure and Safety Concerns to Potentially Impede Market Growth"

Despite the boom in electric powered motorbike usage, infrastructure and protection worries continue to be sizable restraining factors. In many regions, the existing cycling infrastructure is insufficient or poorly maintained, making it tough and dangerous for e-bike riders. The lack of committed motorbike lanes, strong parking, and charging stations can deter ability customers from adopting electric motorcycles as a number one mode of transportation. For example, in lots of growing nations, rapid urbanization has no longer been matched with corresponding investments in cycling infrastructure, leading to congested and threatening situations for cyclists. Addressing the ones infrastructure and protection problems is important for the sustained growth of the electric motorcycles marketplace.

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ELECTRIC BIKES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to Presence of a Large Consumer Base"

Asia-Pacific has emerged as the most dominant region in the global Electric Bikes Market share due to several factors. China, especially, is the dominant force in this marketplace, with good sized manufacturing capabilities and a massive domestic customer base. The Chinese authorities’ strong aid for electric mobility, through subsidies, favorable policies, and infrastructure improvement, has appreciably boosted the adoption of electric motorcycles. Moreover, the high population density in city regions and the need for low priced, efficient, and environmentally friendly transportation solutions have further fueled the marketplace's growth. In Japan and India, increasing environmental recognition, authorities’ incentives, and the growing popularity of electric bikes for commuting and recreational purposes contribute to the region's marketplace management. The combination of sturdy production infrastructure, supportive guidelines, and excessive customer demand makes Asia-Pacific the predominant shareholder in the global electric motorcycles marketplace.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The electric motorcycles market is notably motivated by using key enterprise gamers that play a pivotal role in driving market dynamics and shaping client possibilities. These key gamers possess widespread distribution networks and online structures, offering purchasers with smooth access to a wide kind of electric powered bike options. Their sturdy international presence and logo recognition have contributed to extended patron agree with and loyalty, riding product adoption. Moreover, these industry giants constantly invest in studies and improvement, introducing revolutionary designs, advanced battery technologies, and smart features in electric bikes, catering to evolving consumer wishes and preferences. The collective efforts of those essential players substantially affect the aggressive landscape and destiny trajectory of the market, making sure persevered growth and innovation within the sector.

LIST OF MARKET PLAYERS PROFILED

• Mahindra & Mahindra Ltd. (GenZe) (India)
• Jiangsu xinri e-vehicle Co. Ltd. (China)
• Prodecotech LLC (U.S.)
• Bionx International Corporation (Canada)
• Derby Cycle Co. Ltd. (Germany)
• Accell Group (Netherlands)
• Fuji-ta Bicycle Co. Ltd. (China)
• Tianjin Golden Wheel Group Co. Ltd. (China)

INDUSTRIAL DEVELOPMENT

August 2024: The Electric Bike Market is witnessing a surge in smart features and connectivity. A recent development that exemplifies this fashion is the revealing of a brand-new connected e-motorcycle machine via Bosch (Germany).

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis considers both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including the market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.