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Electric Bike Market worth $70.0 billion by 2027


(USGovernment-News.Com, January 04, 2021 ) The global Electric Bike Market size is projected to grow to USD 70.0 billion by 2027 from USD 41.1 billion in 2020, at a CAGR of 7.9%.

Government support and initiatives to increase the sale of e-Bike would drive the global e-Bike industry.

Browse in-depth TOC on "E-Bike Market"

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The E-Bike Market is dominated by global players and comprises several regional players as well. The key players in the e-Bike industry are Accell Group N.V. (Netherlands), Pon. Bike (US), Merida Industry Co., Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Corporation (Japan).

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The mountain e-Bike segment is estimated to hold the largest share in the E-Bike Market by 2027

Till 2024, the city Electric Bike Market is expected to be the largest, by usage, globally. However, the popularity of mountain e-bikes is increasing due to their robustness and suitability for mountain/trekking as well as commuting for work and shopping. Therefore, from 2025, mountain/trekking bikes' demand is expected to be greater than the city/urban e-bikes.

Cargo and folding electric bikes are expected to be the fastest-growing market segment.

Technological advancements and innovative designs have resulted in the introduction of folding and fat-tire e-bikes, which are visually attractive and appealing. The folding e-bikes are flexible, compact, and lightweight. They can be folded while travelling in metros and subways. Therefore, the market for folding and fat-tire e-bikes is expected to grow at a significant rate.

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Asia Pacific: The largest E-Bike Market

In the Asia Pacific, China was the largest market for e-bikes in 2019, followed by Japan, India, South Korea, and Taiwan. The COVID-19 pandemic has boosted the sale of e-bikes in countries such as Japan, India, South Korea, and Taiwan, resulting in a sale increase of 13%, 54%,34%, and 21%, respectively in 2020 compared to 2019. However, China is estimated to witness a decline in e-bike sales in 2020 by ~2% due to new regulations on e-bikes introduced by the government, which will increase their cost. Despite the decline in sales, China is still expected to lead the Asia Pacific E-Bike Market during the forecast period.


Mr. Aashish Mehra


Source: EmailWire.Com


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