WILMINGTON, Del., Dec. 7, 2022 /PRNewswire/ -- The global electric bike industry is estimated to grow at a CAGR of 7.7% from 2021 to 2031. Rise in need for restricting or reducing rising levels of toxic urban pollution has motivated the population to shift focus toward zero emission mobility solutions. This has resulted in increased demand for e-bikes. Manufacturers operating in this domain are focused on designing and producing next generation of electric bikes that are less bulky, feature enhanced engine performance, and boast bigger battery & range. Furthermore, rise in commercialization of electric vehicles in both developed, as well as developing economies, is propelling market development.
Electric Bike Market - Key Findings of the Report
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Electric Bike Market - Growth Drivers
Electric Bike Market - Key Players
Prominent players in the global electric bike market are Harley Davidson, Giant Manufacturing Co. Ltd., Douze Factory SAS, Butchers & Bicycles, Bionx International Corporation, Accell Group N.V., Johammer E-Mobility GmbH, Govecs Group, Energica Motor Company, Derby Cycle Holding GmbH, BMW Group, and AIMA Technology. Original equipment manufacturers in the industry are looking to expand their market share through incorporation of high-performance electric assistance tools and systems in automotive vehicles, including e-bikes, to attract a larger base of customers. Rise in commercialization of e-bikes that feature longer battery life and are lightweight is creating lucrative opportunities for industry stakeholders. Moreover, original equipment manufacturers are working towards enhancing the engine performance in e-bikes, in order to bridge the gap between IC engine operated bikes and electric bikes.
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Electric Bike Market: Regional Growth Assessment
Early and rapid adoption of sustainable methods for everyday commute is an emerging proposition that is estimated to open up new and attractive revenue streams for market players in Europe. A number of start-ups in the region are keen on capitalizing on such emerging market trends to enhance their industry share. Europe accounted for a considerable global market share in 2020. North America is another attractive region that exhibits significant potential for growth in the next decade. Market expansion in the region can be ascribed to increase in number of financial incentive programs funded by governments for automotive electrification, as well as early and increasing adoption of cargo electric bikes in the region.
Electric Bike Market: Segmentation
Electric Bike Market, by Mode
Electric Bike Market, by Class
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Electric Bike Market, by Usage
Electric Bike Market, by Motor Type
Electric Bike Market, by Battery Type
Electric Bike Market, by Region
Power Sports Market Demand - The global power sports market size was valued at US$ 34.6 Bn in 2021, It is estimated to grow at a CAGR of 5.2% from 2022 to 2031 and reach US$ 57.2 Bn by the end of 2031
Automotive Polycarbonate Glazing Market Share - It is estimated to expand at a CAGR of 8.3% from 2022 to 2031 and reach a value of US$ 1.6 Bn by the end of 2031
Automotive Window and Exterior Sealing Market Demand - It is estimated to grow at a CAGR of 4.1% from 2022 to 2031 and reach a value of US$ 40.0 Bn by the end of 2031
Connected Tire Market Size - The global connected tire market is expected to reach US$ 420.8 Mn by the end of 2031
Luxury Yacht Charter Market Forecast Study - The global luxury yacht charter market is expected to reach US$ 19.0 Bn by the end of 2031
Automotive Rear Occupant Alert System Market Growth Study - The global automotive rear occupant alert system market is expected to reach US$ 2.1 Bn by the end of 2031
Off-highway Vehicle Industry Growth - The global off-highway vehicle market is expected to reach US$ 1.3 Trn by the end of 2031
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