Electric Bike Market Recorded Strong Growth in 2021; COVID-19 Pandemic Set to Drop Sales

FMI delivers key insights on the global electric bike market in its latest report titled “Electric Bike Market: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.” The long-term outlook on the global electric bike market remains positive with the market value expected to increase at a CAGR of 3.1% during the forecast period (2017-2027). Among the battery types, the lead-based battery segment in the electric bike market is expected to expand at a CAGR of more than 3% in terms of value over the forecast period. The global market for battery electric bike is estimated to represent a total increment opportunity of 6.1 Bn from 2017 to 2027. Asia Pacific excluding Japan (APEJ) is estimated to account for a value share of 81% in the global electric bike market by the end of 2017, and is also expected to dominate the market during the forecast period. In this report, FMI throws light on the drivers and restraints likely to impact the electric bike market during this period.

Electric Bike Market

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Adoption of Clean Technology Expected to Boost the Electric Bike Market

Government agencies are focusing on electro-mobility and reducing pollution, hence, zero emission vehicles are being increasingly promoted through attractive incentives and schemes. This has led to an enhanced focus on electric bikes and thus, a significant increase in the sales of electric bikes is expected over the forecast period. Apart from curbing air pollution, electric bikes also help reduce the level of noise pollution.

Growth in the transportation sector has severely depleted non-renewable petroleum reserves, and this has increased the prices of fuel. Fuel prices are expected to increase exponentially in the coming years as crude oil reserves will be reduced, which will pave the way for the growth of vehicles running on alternate sources of energy. Moreover, the prices and consumption of petroleum products as fuel in the automotive sector is growing day by day, and to reduce the global consumption of the same, manufacturers and governments are promoting the usage of electric bikes as they are far more fuel-efficient compared to conventional automobiles. These factors are estimated to enhance the electric bike market.

Segmentation Analysis of the Electric Bike Market

The electric bike market is segmented on the basis of product type, battery type and technology.

  • Pedelecs is expected to be the most prominent segment in terms of volume and value over the forecast period. The pedelecs sub-segment of the electric bike market is estimated to grow at a CAGR of 3.2% in terms of value over the forecast period. Pedelecs are expected to represent a total incremental opportunity of US$ 3.9 Bn between 2017 and 2027 in the electric bike market. The electric scooter and motorcycle sub-segments are projected to grow at a relatively low CAGR as compared to pedelecs over the forecast period
  • The most prominent battery type in the electric bike market is estimated to be the lead-based battery. The lead based battery segment is estimated to grow at a steady CAGR over the forecast period in the electric bike market
  • The battery electric scooter segment is the most prominent technology segment in the electric bike market. It is estimated to account for more than 80% of the electric bike market throughout the forecast period.

Regional Market Projections of the Electric Bike Market

The electric bike market in APEJ is expected to represent a significantly high incremental opportunity between 2017 and 2027. The electric bike market in APEJ is expected to represent a total incremental opportunity of US$ 6.1 Bn between 2017 and 2027.

Electric Bike Market Participants

This report highlights some of the top companies operating in the electric bike market, which include ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd., Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co. Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group.

Research Methodology

The report offers an in-depth assessment on the electric bike market, which is based on a tested & proven research methodology that involves comprehensive primary and secondary research approaches. These research methods have helped in arriving at important numbers for the electric bike market. Data collected on the electric bike market by these researches goes through several validation funnels, examination and re-examination prior to its inclusion in the report.

The credibility of the statistics evaluated and data acquired on the electric bike market can be attributed to the unique nature of FMI’s research methodology, which claims to ensure greater accuracy and provision of authentic data. Intelligence obtained from opinion leaders and industry experts in the electric bike market has been extrapolated, meanwhile the contemplation of the data has allowed analysts to develop this analytic and insightful report on the electric bike market.

For Information On The Research Approach Used In The Report, Request Methodology@ https://www.futuremarketinsights.com/askus/rep-gb-4683

Key Segments Covered in the Electric Bike Market Report

On the basis of product type, the electric bike market can be segmented into:

  • Electric Scooter
  • Electric Motorcycles
  • Pedelec

On the basis of battery type, the electric bike market can be segmented into:

  • Li-Ion
  • NiMH
  • Lead-based

On the basis of technology, the electric bike market can be segmented into:

  • Plug-In
  • Battery

On the basis of region, the electric bike market can be segmented into:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

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