According to a new report Global Electric Bike Market, published by KBV research, The Global Electric Bike Market size is expected to reach $73.2 billion by 2026, rising at a market growth of 11.2% CAGR during the forecast period.
Various governments imposed strict regulations regarding the utilization of lead-acid batteries as their chemicals release harmful gases which result in severe environmental issues. Human health could be negatively impacted due to the release of lead in groundwater. Due to these aspects, the growth of the lead-acid segment would be slowed down during the forecast period. E-bikes in China were in-built with lead-acid batteries. On the other hand, owing to the government norms introduced in April 2019, the Chinese market has switched its preference towards lithium-ion batteries, causing a major hike in demand for lithium-ion batteries in the Asia-Pacific region from 2019.
The Hub Motor market dominated the Global Electric Bike Market by Drive Mechanism in 2019. However, the hub motors are relatively heavier than the mid-drives, which could hinder the efficiency of an electric bike suspension. The vehicle uses both rear & front hub motors according to their application; this would fuel the revenue streams of the hub motor segment in the e-bike market. The Mid-drive market is expected to witness a CAGR of 11.9% during (2020 - 2026).
The Asia Pacific market dominated the Global Electric Bike Market by Region in 2019. Europe obtained the second-highest revenue share of the market. The strict vehicular emission regulations formulated by the government in this region would boost the growth of the market. An abrupt spike in sales has been witnessed in Europe during the outbreak of COVID-19, which would help the region to maintain its position in the global market. For instance, as per the Bike-EU, there have been massive sales of e-bikes in Germany when the government relaxed the lockdown norms in the country. The closure of public transportation & norms imposed by the government in order to maintain the social distancing rules in the pandemic period has propelled the demand for e-bikes in this region.
Full Report: https://www.kbvresearch.com/electric-bike-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Accell Group, Mahindra & Mahindra Limited (Mahindra Group), Yamaha Motor Co., Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Derby Cycle AG (Pon Holdings B.V.), Fuji-ta Bicycle Co., Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., and Wuxi Truckrun Motor Co., Ltd.
By Drive Mechanism
By Battery Type
By Product
By Geography
Companies Profiled
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