Selbyville, Delaware, Sept. 15, 2022 (GLOBE NEWSWIRE) --
The global e-bikes market is expected to record a valuation of USD 40 billion by 2030, according to the latest research study by Global Market Insights Inc.
Government emphasis on curbing carbon footprint and ensuring a cleaner environment will drive the industry trends. The rising popularity of e-bike sharing due to its easy availability & convenience, along with the emergence of sophisticated batteries, will increase the demand for e-bikes. For instance, in May 2022, OPIUM, a Swiss e-bike startup, announced that it was set to launch two new long-range electric bikes named 6.0 and 4.0. Both these bikes have a range of 340 kilometers, with enough battery span to travel for an entire day. The company has been actively investing in advanced battery technologies to introduce an alternative for cars with exponential carbon emission rates.
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High costs of internal components may emerge as a chief restraining factor for e-bikes market growth. Various e-bikes have different motors with different capabilities, which makes them expensive depending on the capacity they provide. Moreover, the advent of technologically advanced products is encouraging players to enhance the performance and range of e-bikes, which may attract buyers and overcome this limitation.
Growing home delivery trend to propel the demand for cargo e-bikes
The cargo bikes segment accounted for USD 2 billion revenue in 2021 impelled by the burgeoning trend of fast delivery services as well as raising concerns to reduce carbon emissions, fueling the adoption of electric cargo bikes. Additionally, the increasing popularization of home delivery platforms across the globe has lifted the demand for e-bikes among delivery partners for swift deliveries, thereby boosting segmental growth.
NiMH battery segment to depict an appreciable growth
The e-bikes with NiMH batteries held 5% of the market share in 2021 owing to their compatibility with any size of batteries, such as AAA, AA, C, D, and 9V. NiMH batteries possess a high tolerance against overcharging and provide uniform temperature performance.
Gear ratio advantage to accelerate e-bikes demand with mid motors
The mid motor segment in the e-bikes market is poised to register significant growth through 2030 on account of its various advantages compared to hub motors. One of the key benefits that mid-drive motors have is an excellent gear ratio, enabling riders to power the rear wheel through the same chain and gear set of the pedals – essentially, one can ride up steep hills even with low gear. Mid motors also are lighter and smaller as compared to a hub motor of similar power, which makes them a preferable choice for many customers.
Throttle-assist e-bikes to gain positive traction
The e-bikes market from the throttle-assist segment is expected to grow at over 5% CAGR of till 2030. E-bikes with throttle-assist propulsion are easy and safe to ride. They also ensure the security of passengers as they can run without pedaling, encouraging riders with medical conditions to opt for e-bikes with throttled systems.
Increased customer inclination to push offline channel segment growth
The offline sales channel is predicted to observe robust growth rate during the forecast period. Despite the recent shift in sales operations, manufacturers of e-bikes continue to stock physical stores in order to reach new and potential customers. The easy availability of the product enabling customers to opt for a trial run before the actual purchase will continue to help offline segment emerge as a substantial revenue contributor to the industry expansion.
Middle East & Africa to emerge as a pivotal region
The Middle East & Africa e-bikes market size is anticipated to reach USD 100 million by 2030. The soaring focus of manufacturers on expanding their business in the region will impel the regional industry growth. Notably, producers are introducing new products & services to improve their offerings, thereby strengthening the industry outlook.
The Europe e-bikes market is estimated to hold a sizable revenue share through 2030 owing to prominent technological development in e-bikes in the region. Furthermore, the key participants in the industry are converging on new product strategies to expand their customer outreach and market revenues. According to the report, the Europe e-bikes sector will also be driven by escalating automobile demand and government initiatives to control the pollution rate.
Strategic partnerships and product launches to remain a major growth strategy
Top companies operating in the e-bikes market are AIMA Technology Co., Accell Group, Giant Bicycles, Rad Power Bikes, Pedego Electric Bikes, Specialized Bicycle Components, Electric Bike Technologies, Inc., Trek Bicycles, Sunra, and Yadea. These leaders are implementing various growth strategies, such as partnerships, collaborations, and the establishment of new production facilities to bolster their market stature globally.
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Partial Table of Contents (ToC) of the report:
Chapter 3 E-Bikes Market Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Russia-Ukraine war impact
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Industry ecosystem analysis
3.7 Technology and innovation landscape
3.8 Regulatory landscape
3.9 Industry Impact Forces
3.9.1 Growth drivers
3.9.1.1 Rising support from government authorities for the promotion of e-mobility
3.9.1.2 Emergence of e-bike sharing service providers in North America and Europe
3.9.1.3 Shifting focus of commuters toward personal mobility solutions in North America
3.9.1.4 Growing manufacturing and export of e-bikes in Asia Pacific
3.9.1.5 Increasing awareness related to electric mobility in LATAM and the MEA
3.9.2 Industry pitfalls & challenges
3.9.2.1 High initial cost of e-bikes
3.10 Investment portfolio
3.11 Growth potential
3.12 Porter’s analysis
3.13 PESTEL analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
