Global Electric Bicycle Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global Electric Bicycle Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global electric bicycle market report has been segmented on the basis of propulsion, battery type, application, and region.

Global Electric Bicycle Market: Overview

The electric bicycle also known as e-bike and is powered with help of batteries. These bicycle are integrated with electric motor which is used for propulsion through peddle or throttle.

Global Electric Bicycle Market: Dynamics

Rising concerns associated with pollutions generated by fuel-based vehicles is expected to be the key factor to drive growth of the global market over the forecast period. These concerns have increased focus towards electric vehicles and has proliferated across countries through various government initiatives that supports or funds electric vehicles. For instance; according to FAME-India scheme on 12 December 2018, the Government of India has increased its funding of electric and hybrid vehicle manufacturing and promotional activities from over US$ 110 Mn to 125 Mn.

Growing inclination towards use of e-bikes owing to its eco-friendly benefit among individuals across the globe is another factor expected to support growth of the target market. In addition, increasing use of bicycle for fitness and recreational activities is among major factors expected to boost growth of the global market in the near future.

Moreover, growing demand for e-bicycle among tourists which provides small distance rides with less physical effort is another factor expected to fuel growth of the global market during the forecast period.

However, high initial cost associated with advance electric bicycle is a major factor that could decline growth of the target market to a certain extent.

Increasing investments in R&D activities in order to increase the battery life and introduction of new wireless connectivity solutions are some of the revenue growth factors that is expected to boost growth of the target market in the coming 10 years.

Global Electric Bicycle Market: Segment Analysis

The pedal assisted segment is expected to register highest CAGR and dominate in the global market. This growth is attributed primarily to its ability that offers cardio benefits as well as ease of use in steep climbs.

Among the application segments, the city/urban segment is expected account for a high revenue share and is attributed to increasing government initiatives for use of e-bike among various developing countries.

Global Electric Bicycle Market: Regional Analysis

The electric bicycle market in Asia Pacific currently dominates the global market owing to rising environmental hazardous air pollution across various countries in the region.

The North America electric bicycle market is expected to register second highest revenue share in the global market owing to increasing R&D activities, high adoption of electric vehicles, and well developed infrastructure available in countries in this region.

Whereas, market in Europe is expected to register significant growth in the global market in terms of revenue during the forecast period due to increasing presence key player in countries in the region. The market in the Latin America and Middle East & Africa is expected to witness lucrative growth in terms of revenue in countries in the region.

Global Electric Bicycle Market Segmentation:

Segmentation by Propulsion:

• Pedal Assisted
• Throttle Assisted

Segmentation by Battery Type:

• Lead acid
• Lithium ion
• Nickel-Metal Hydride (NiMH)
• Others

Segmentation by Application:

• Cargo
• Racing
• Trekking
• City/Urban

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa