E-bikes Market Rising With Growth In New Technology Trends Research By 2030

Posted by Mrudula Karmarkar on July 12th, 2022

The global e-bikes market size is anticipated to reach USD 52.37 billion by 2030, growing at a CAGR of 13.5% over the forecast period, according to a new report published by Grand View Research, Inc. Electric bikes are considered an eco-friendly and flexible mode of transportation. They are an ideal substitute for public transport, scooters, and smart cars as they help avoid traffic jams and achieve high speed with minimal effort. Moreover, they enable riders to maintain a healthy lifestyle through increased physical activity. These factors are contributing to the growth of the global market.

The declining consumer inclination toward cars owing to increased traffic on streets and growing urbanization is expected to offer lucrative growth opportunities for the market across the globe. Additionally, governments of several countries, including India, U.K., and Canada, are focused on developing infrastructures for bicycles owing to the growing consumer preferences for electric bikee-bikes. For instance, in 2017, Bikeep, a commercial bike parking systems and bike racks manufacturer, introduced a smart bicycle rack solution that offers electric bicycle charging. The solution is designed to cater to various popular electric bicycles.

Key players in the market are focused on strategies such as new product launch and geographic expansion to enhance their business operations and product offerings. For instance, in October 2020, Giant Manufacturing Co. Ltd. announced the launch of a full-composite trail bike, Trance X Advanced Pro 29. The bike is equipped with an updated Maestro rear suspension and flip-chip feature that permits riders to modify the frame geometry. Similarly, in October 2020, Pedego Electric Bikes opened a new store in Boca Raton, Florida. The store offers a full range of electric bikes for rental and sale, along with related accessories and services.

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Several governments are undertaking initiatives to mitigate carbon footprints by encouraging the use of electric vehicles, electric bikes, and bicycles. The increasing awareness about the harmful effects of vehicles that run on fossil fuels is also boosting this trend. Furthermore, governments are focused on constructing bicycle-friendly streets, thereby encouraging individuals to choose bicycles as their mode of transport.

E-bikes Market Report Highlights

• The pedal-assisted segment is expected to dominate the market over the forecast period owing to the rising demand for pedal-assisted e-bikes among the youth and elderly population
• The lead-acid battery segment dominated the market with a 45.5% market share in 2021, owing to benefits such as low cost and robustness. However, the share is anticipated to decline as a result of a significant rise in demand for Li-ion batteries
• The Asia Pacific is expected to become the largest regional market over the forecast period owing to significant investments in the vehicle charging infrastructure and government subsidies for battery-powered vehicles

Prominent players in the e-bikes market adopt various growth strategies, such as geographic expansion and new product launches, to strengthen their market presence. Moreover, they focus on enhancing their existing product offerings and improving brand awareness to gain a competitive edge in the market.

Leading players are also taking initiatives such as mergers and acquisitions, agreements and contracts, and partnerships with technology companies. For instance, in November 2022, Pon Bike acquired Urban Arrow, a Dutch e-cargo bike brand. The acquisition enabled the company to enhance its product portfolio.

Some prominent players in the global e-bikes market include:

• Pedego Electric Bikes
• Yamaha Motor Company
• Aima Technology Group Co. Ltd.
• Merida Industry Co. Ltd
• Trek Bicycle Corporation