Global Electric Bikes Market
Electric Bikes Market Size And Forecast
According to Verified Market Research, The Global Electric Bikes Market was valued at USD 18.62 billion in 2019 and is projected to reach USD 26.41 billion by 2027, growing at a CAGR of 4.82% from 2020 to 2027.
Global Electric Bikes Market Outlook
Owing to its low cost, easy maintainability and easy operability, especially in congested traffic, have traditionally been a very popular mode of transport worldwide. Apart from mobilizing individual people, electric bikes are also used for carrying additional people and cargo. These bikes are claimed to be “greener” and more sustainable transport options resulting in rapid adoption and expansion at a global level. The factors such as accelerating urbanization, increasing demand and income for transportation, traffic congestion, and environmental pollution, as well as underdeveloped public transport system are expected to drive the market. However, Despite the growing popularity of electric bikes, the cost of these bikes has limited their attractiveness thereby restraining the market for e-bikes.
Electric Bike Market, Segment Analysis
The Global Electric Bikes Market is segmented on the basis of Product Type, Drive Mechanism, Battery Type and Geography.
Electric Bike Market, Competitive Landscape
The Global Electric Bike market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include 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), Yamaha Motor, Prodecotech, LLC and Tianjin Golden Wheel Group Co., Ltd. Accell Group is one of the top five players in the Electric Bike market.
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