The e-bike market is projected to reach USD 79.7 billion by 2026 from USD 47.0 billion in 2021, at a CAGR of 11.1%. Asia Pacific is expected to be the largest market for e-bikes during the forecast period. In this region, India, Japan, South Korea, and Taiwan are potential markets owing to the increasing e-bike sales in these countries. The mountain e-bike is expected to account for a significant share of the e-bike market during the forecast period due to its robustness and high-performance design. Class I e-bike is expected to be the largest market during the forecast period as countries such as China, Japan, South Korea, and Taiwan allow only class-I e-bikes as they are without throttle assist and have a maximum speed of 25 Km/h.
“Globally, the mountain/trekking e-bike segment is expected to be the fastest-growing segment during the forecast period.”
The demand for mountain/trekking e-bikes is growing rapidly as consumers increasingly show interest in trekking and recreational activities. There is a growing interest in performance-based adventurous sports, which, in turn, increase the demand for mountain/trekking e-bikes. Sports and physical activities are becoming more adaptable through electric motors. In many countries, mountain e-bikes are not only used for mountain trekking but also for daily commutation. The main reason for the growing popularity of mountain e-bikes is their robustness.
Asia Pacific is projected to be the largest regional market
Asia Pacific was the largest e-bike market in 2020, and China was the largest market in the region, with a share of ~97% share, by volume, of the Asia Pacific e-bike market. The e-bike market in Asia Pacific region has evolved over the years. Japan was the first country to introduce e-bike. The region is home to major e-bike manufacturers and component suppliers, such as Giant Manufacturing, Merida, AIMA, Yadea Group, Panasonic, Shimano, and Yamaha Motor Company. City/Urban bikes are mostly used by working professionals and teenagers for daily commutation in the region.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
- By Company Type: OEMs –70% and Tier 1 – 30%
- By Designation: C Level - 60%, D Level- 30%, and Others – 10%
- By Region: Asia Pacific - 50%,Europe – 20%, North America – 30%
Accell Group N.V. (Netherlands), Pon.Bike (US), Merida Industry Co., Ltd. (Taiwan), Giant Manufacturing Co., Ltd. (Taiwan), and Yamaha Motor Corporation (Japan) are the leading manufacturers of e-bike in the global market.
The e-bike market is segmented based on class (Class-I, Class-II and Class-III), speed (Up to 25 Km/h, 25-45 Km/h), battery type (Li-Ion, Li-Ion Polymer, Lead Acid and Others), mode (Throttle assist and Pedal assist), Usage (Mountain/Trekking, City/Urban, Cargo and Others), component (Batteries, Electric Motor, Wheels, Frame with fork, Crank gears, Brake systems and Others), motor type (Hub motor and Mid motor), ownership (Shared and Personal) and region (Asia Pacific, Europe and North America).
The study also includes an in-depth competitive analysis of the major e-bike manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall e-bike market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market’s pulse and provides them information on key market drivers, restraints, challenges, and opportunities.