E-Bike Market worth USD 76467.80 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "E-Bike Market by Product Type, by Drive Mechanism (Hub Motor, Mid Drive, Drive Mechanisms), by Battery Type, By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global E-Bike market size is expected to grow from USD 20130.07 million in 2022 to USD 76467.80 million by 2033, at a CAGR of 12.9% from 2023 to 2033.

The e-bike market consists of sales of e-bike services by entities (organizations, sole traders, and partnerships). Electric bikes, also known as e-bikes, e-bicycles, pedelecs, and power-assisted (bi)cycles, are regular bicycles with an electric motor, a battery, and a drivetrain. These bikes may be propelled by pedalling or by using rechargeable batteries. There are three types of rechargeable batteries: lead acid, lithium-ion (Li-ion), and nickel-metal hydride (NiMH). Several countries are launching projects to reduce carbon footprints by encouraging people to use electric automobiles, electric bikes, and bicycles. This tendency is also being aided by growing awareness of the detrimental impacts of automobiles that operate on fossil fuels. Furthermore, governments are focusing on building bicycle-friendly roadways, which will encourage people to utilise bicycles as a form of transportation. The rising technical improvements in the business can also be linked to the growing demand for e-bikes. On the other hand, the lack of standardized charging infrastructure is hindering the growth of e-bike market over the forecast years. Moreover, the e-bike market is undergoing significant technical improvements to provide more optimizer and dependable goods this will create a huge opportunities in the market for the upcoming forecasting period.

Global E-Bike Market Segmentation

The overall e-bike market has been segmented into product type, drive mechanism, battery type, and region.

• By Product Type (Pedelecs, Throttle on Demand, Scooter, Motorcycle)
• By Drive Mechanism (Hub Motor, Mid Drive, Drive Mechanisms)
• By Battery Type (Lead Acid, Lithium ion (Li-ion), Nickel metal hydride (NiMH), Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Lithium ion (Li-ion) segment is at the highest CAGR during the forecast period

Lithium ion (Li-ion) segment is expected to grow at the highest CAGR during the forthcoming period. According to a European Commission estimate, the price of lithium-ion batteries is expected to fall by approximately 70% by 2030. High charge density, high performance, low weight, and high charging-discharging efficiency are expected to boost adoption of these batteries, consequently encouraging segment growth. However, the lithium-ion battery market for e-bikes is expected to increase rapidly. The lithium-ion battery industry is eclipsing the lead-acid battery market. The transition from lead-acid batteries to Li-ion batteries in e-bikes is happening all around the world.

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The North America to account for the highest CAGR during the forecast period

The North America market is projected to grow rapidly over the forecast priod. The growing number of industrial units and IT enterprises in the region, together with the region's growing tech-savvy and urban population, is predicted to boost regional market growth. Furthermore, the region's low raw material costs and plentiful inexpensive labour are projected to generate lucrative chances for the area market.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the e-bike market. It also consists of the profiles of leading companies such as  Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co., Ltd., Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Yamaha Motor, Prodecotech, LLC and Tianjin Golden Wheel Group Co., Ltd. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

About Market Statsville Group

Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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