According to the latest report by IMARC Group
"E-Bike Market: Global Industry Trends, Share, Size, Growth,
Opportunity and Forecast 2023-2028", offers a comprehensive analysis
of the industry, which comprises insights on the global e-bike market share. The global e-bike market size reached US$ 23.2 Billion in 2022.
Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by
2028, exhibiting a growth rate (CAGR) of 6.78% during 2023-2028. This report
can serve as an excellent guide for investors, researchers, consultants,
marketing strategists and all those who are planning to foray into the market
in any form.
E-bikes, also known as electric bicycles, are
a type of two-wheeler equipped with electric motors, batteries, and a
drivetrain for propulsion. They can be operated via pedaling or powered by
rechargeable batteries like lead-acid batteries that can cover long distances
on a single charge. Compared to fuel-driven vehicles, they are highly
cost-effective and energy-efficient, require minimum maintenance, and offer an
emission-free commuting option. They also help reduce traffic congestion on
highways and roads by allowing individuals to ride on sidewalks and bike lanes.
In recent years, e-bikes have gained immense popularity across the globe as
they are more economical, environment-friendly, and provide a hassle-free
traveling experience.
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E-Bike Market Trends:
The global e-bike market is primarily driven
by the surging environmental consciousness among individuals and the rising
preference for electric vehicles (EVs) like e-bikes due to the elevating
pollution levels. Additionally, there has been a significant shift toward
cycling as it offers various mental and physical health benefits, including
improved cardiovascular fitness, enhanced muscle strength, higher flexibility,
and reduced risks of stress and depression. In line with this, the increasing
participation of individuals in adventure sports, especially the young
population, has catalyzed market growth. Furthermore, the leading players are
launching innovative product variants like connected e-bikes embedded with the
internet of things (IoT) and novel features, such as automatic emergency
calling, anti-theft systems, remote diagnostics, and integrated navigation.
Along with this, the introduction of hydrogen-powered bikes and the Smart
E-Bike Monitoring System (SEMS) has propelled market growth. Other factors,
including favorable government initiatives promoting the adoption of e-bikes,
rising product usage by logistics companies for faster package delivery, and
growing penetration of shared micro-mobility, are also anticipated to drive the
market further.
Report Segmentation:
The report has segmented the market into the
following categories:
Mode Insights:
Motor Type Insights:
Battery type Insights:
Class Insights:
Design Insights:
Application Insights:
Breakup by Region:
Competitive Landscape:
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