A recent report published by Infinium Global Research on electric bikes market provides in-depth analysis of segments and sub-segments in global as well as regional electric bikes. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional electric bikes market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electric bikes. According to report the global electric bikes market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024.
Electric bikes, also called e-bikes, are a special type of bikes that are driven or propelled by rechargeable batteries. Electric bikes are similar to regular bikes with slight modification. It primarily contains three important components: motor, battery, and drivetrain. Electric bikes are driven by employing different type electric motors. The drivetrain provides necessary torque and power for the electric bike, and most of the drivetrain provides flexibility to riders in order to shifts gears according to the road situation. Electric bikes are gaining popularity among consumers due to growing awareness about environmental awareness, fluctuation of fuel prices, increasing disposable income among consumers, are the factors boosting the electric bike's market. Electric bikes are becoming a viable transportation option owing to their power, moderate load carrying capacity, long-distance range, and moderate speed. Additionally, increasing government subsidies to manufacturers and a tax incentive to purchasers, continuously rising fuel prices across the globe, and increasing health consciousness among people are driving the electric bike market during the forecast period. However, the high cost of an electric bike, lack of awareness among consumers about electric bikes, its efficiency compared to conventional bikes are hindering the growth of the electric bike market.
Everyday fossils fuel price is increasing, which is forcing the consumers to switch to the cheaper alternative for commuting purpose. In recent time there is high growth in the price of petroleum-based fuel, which is making driving a costly affair. But, electric bikes only consume electricity, and electricity is available through several medium as hydro, air, thermal energy, and convention coal-based. Electricity is cheaper than fossils fuel. Hence, now people are preferring electric bikes instead of conventional motorbikes. As per one study of new brain monitoring, scientists found that Electric vehicles reduce stress for drivers. This study found that drivers are more focused, calmer, and happier when driving the electric version of the taxi, compared to a conventional taxi. Additionally, growing awareness about the health benefits of driving electric bikes/vehicles is helping to grow this market. An electric vehicle has far fewer moving parts than a conventional gasoline-powered vehicle. There’s no need for liquid fuels or oil changes. Hence, no polluting elements are released during the application of electric bike. It is environmentally friendly, which help to protect the environment from several toxic elements as carbon monoxide(CO), Sulfur etc.
North America is leading the E-Bike market globally, due to the presence of e-bike manufacturing companies in this area, more consumer awareness about environmental degradation, government focus on the environmental protection technique and measures. The Asia Pacific holds a major share and is expected to dominate the global electric bike market during the forecast period. China is a major revenue contributor to the market in the Asia Pacific. Stringent regulations regarding emissions and strong imitative for green transportation drive the electric bike market in China.
The report on global electric bikes market covers segments such as product type, drive mechanism, and battery type. On the basis of product type, the global electric bikes market is categorized into pedelec, throttle on demand and scooter or motorcycle. On the basis of the drive mechanism, the global electric bikes market is categorized into hub motor, mid-drive, and other drive mechanisms. On the basis of battery type, the global electric bikes market is categorized into lead-acid, lithium (Li-ion), nickel metal hydride (NiMH) and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global electric bikes market such as, Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co.,Ltd., Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle co., ltd, Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, Prodecotech, LLC and Tianjin Golden Wheel Group Co., Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global electric bikes. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electric bikes. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the electric bikes market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the electric bikes market to understand the present and future trends in this market and formulate their strategies accordingly.
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