E-bike Market Size to grow by USD 16.48 billion between 2024-2028
According to a research report “ E-bike Market” by Battery Type (SLA batteries, Li-ion batteries) Propulsion (Pedal assist, Throttle assist) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 16.48 billion, at a CAGR of 6.95% during the forecast period. In the business context, the growing concern for environmental sustainability and the need to minimize carbon emissions are key drivers propelling the demand for e-bikes as an eco-friendly transportation alternative. These innovative mobility solutions produce zero emissions during use, making them an attractive option for short- to medium-distance travel. As the world transitions towards sustainable transportation, e-bikes present a viable solution that consumes less energy compared to traditional vehicles reliant on fossil fuels. By adopting e-bikes, businesses and individuals can contribute to improving urban air quality and reducing their carbon footprint..
Browse market data tables, figures, and in-depth TOC on “E-bike Market” by Battery Type (SLA batteries, Li-ion batteries) Propulsion (Pedal assist, Throttle assist) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Battery Type, the SLA batteries segment is projected to dominate the market size in 2024
In the e-bike market, Sealed Lead-Acid (SLA) batteries, also referred to as gel cells, represent a cost-effective and dependable power solution. These partially sealed batteries contain coagulated sulfuric acid electrolyte, offering the advantage of minimal maintenance requirements, as they do not necessitate the addition of water or electrolytes. Despite their weight and size being greater than lithium-ion batteries, SLA batteries remain a popular choice for many e-bike manufacturers due to their affordability and reliability. However, the emergence of more sophisticated lithium-ion battery technology, characterized by higher energy density, has led some e-bike models to adopt this advanced power source.
By Propulsion, Pedal assist segment is expected to hold the largest market size for the year 2024
In the e-bike market, pedal-assist technology offers a significant advantage for riders. This feature provides motorized assistance only when the user pedals, allowing them to customize the level of support. Pedal assist enables riders to extend their commuting range with minimal effort, making long-distance travel by bike a more viable option. The motor's additional power aids in tackling inclines, making cycling more accessible and appealing to a broader audience. Furthermore, the adoption of pedal-assist e-bikes contributes positively to the environment by reducing carbon emissions and alleviating traffic congestion.
APAC is forecasted to hold the largest market size by region in 2024
The e-bike market in the Asia-Pacific (APAC) region is experiencing robust growth, with China, Vietnam, Japan, and India being key contributors. Among these, China leads the market with significant unit shipments due to the Chinese government's initiative to limit motorcycles in urban areas. This policy shift has resulted in a surge in e-bike adoption for short-distance commutes, leading to impressive sales growth. In Japan, the market is expanding with the introduction of two- and three-passenger e-bikes, making them an attractive alternative to traditional vehicles for both individual and family use. The e-bike market in the rest of APAC is also growing at a substantial rate, reflecting the region's increasing preference for sustainable and cost-effective transportation solutions.
The E-bike Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The e-bike market has seen significant advancements in recent years, offering commuters an alternative to traditional motorcycles and cars for daily commutes. With increasing concerns over noise pollution and traffic congestion, e-bikes have emerged as a popular choice for riders. These vehicles come in various types and modes, including cargo e-bikes and mountain e-bikes, catering to different consumer needs. Market players have responded to this trend by introducing new models with more powerful motors, longer battery life, and sleeker designs. Lithium-ion batteries have become the go-to choice for e-bike components due to their lightweight and high energy density. Governments around the world have also recognized the benefits of e-bikes as an eco-friendly solution to reduce fuel consumption and emissions. Incentives such as tax credits and subsidies have been introduced to encourage people to switch to e-bikes. Despite the growing popularity of e-bikes, the market is not without challenges. Overstocks and inflations can impact the pricing of e-bikes, while regulations regarding motor power and weight vary from country to country. However, with ongoing advancements in technology and increasing consumer demand, the e-bike market is poised for continued growth. Fuel prices and wars have further fueled the need for e-bikes as an affordable and sustainable commuting option. The development of bicycle highway lanes and the expansion of charging infrastructure have also made e-bikes a more practical and convenient choice for urban commuters. Overall, e-bikes offer a quiet, efficient, and eco-friendly alternative to traditional modes of transportation.
Market Research Overview
The E-Bike market is experiencing significant growth as more people turn to these electric two-wheelers as an alternative to cars for urban travel. Cargo e-bikes and city/urban e-bikes are popular choices due to their ability to carry goods and navigate congested areas with ease. Motor drive technologies, such as mid-drive motors and hub motor drives, offer varying performance levels and build quality. Pricing incentives from governments and utilities are driving down costs for consumers, making e-bikes an attractive option for health-conscious individuals and those looking to reduce their carbon footprints. Leading e-bike manufacturers like Shimano Inc are introducing connected e-bikes with advanced features, safety measures, and improved propulsion technologies. Lithium-ion batteries offer better performance and longer range than lead acid-equipped e-bikes. However, maintenance and replacement costs can be a concern for end users. Urbanization and the need for eco-friendly solutions have led to the popularity of e-bikes in both the U.S. and the world. Regulations and incentives from governments and cyclist organizations are shaping the E-Bike Market Ecosystem, with Class-III and Class-II e-Bikes gaining traction. E-bike manufacturers, component manufacturers, and raw material suppliers are all contributing to the advancements in this industry. Despite the benefits, challenges such as noise pollution, lack of infrastructure, and e-bike regulation persist. However, e-bikes offer a cost-effective, time-saving, and eco-friendly solution for commuters, adventurous riders, and families with kids and women. With continued advancements in motor technologies and battery efficiency, the future of e-bikes looks promising.
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