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Huge Demand of Global E-bikes Market Including Study of CAGR, Companies, Growth & Regional Analysis




(USGovernment-News.Com, June 30, 2021 ) Global E-bikes Market was valued at US$ 24.05 Bn in 2020, estimated to reach US$ 71.50 Bn in 2027 with a CAGR of 12.77% from 2021-2027.



E-bikes is defined as a bicycle with an integrated electric motor drive

mechanism and battery that produces power for causing/assisting propulsion. Various types of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes which produce power to completely drive the bike using throttle.



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The increase in urbanization is one of the key drivers for the global E-bike market. Urban population throughout the world is increasing at higher pace. For instance, As per the United Nations Reports 2018, around 68% of the global population would reside in urban areas by year of 2050. Hyper-urbanization in some countries is hindering the city traffic by raising traffic congestion, parking issues, high travel cost & delays in vehicle movement during traffic jams. Hence, the use of electric-bikes can reduce the number of vehicles on the road & result in fewer traffic jams.



Key Players



Some prominent players are discussed in this report such as Giant Bicycles Co. Ltd, Merida Industry Co. Ltd, Riese & Muller, Yamaha Bicycles, Cannondale Bicycle Corporation, Kalkhoff, VanMoof BV, Coboc, Ampler Bikes, Cowboy, etc.



Impact of COVID-19 on Market



COVID-19 has positively impacted the growth of the Global E-Bike Market. Due to the COVID-19 outbreak, commuters are mostly avoiding public transportation. These bikes are considered as a safe, convenient, and affordable alternative to public transportation. Also, as compared to the other transportation systems, e-bikes are cheaper, easier to charge & do not require huge investments in supportive infrastructure which is expected to drive the sales of e-bikes market.



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Notable Development



In August2019, Merida Industry Co. Ltd had invested 18 million Euro (USD 20.15 Million) in Europe. The aim of this investment is to expand production of E-bike in Europe. According to the information provided by Merida Industry, the multi million Euro investment will raise annual output up to 90,000 units by 2022.



Market Segmentation



On the basis of product, market is segmented into Pedelecs, Speed Pedelecs, Scooter and Motorcycle.



On the basis of drive mechanism, market is segmented into Hub motor, Mid-drive, and Others.



On the basis of battery type, market is segmented into Lead acid, Lithium ion (Li-ion), and Others.



Market Taxonomy



By Product

Pedelecs

Speed Pedelecs

Scooter

Motorcycle



By Drive Mechanism

Hub motor

Mid-drive

Others



By Battery Type

Lead acid

Lithium ion (Li-ion)

Others



By Region

North America

Latin America

Europe

Asia Pacific

Middle East & Africa



Regional Analysis



Based on the region, market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.



North America is fastest growing market, due to the increase in urbanization and traffic congestion have discouraged people from using a car as motorized transportation. As an alternative, many people now wish to use e-bikes for the daily commute in this region. Also, APAC region is expected to be the largest market. In this region, China, India, Japan, and Taiwan are potential markets due to growing e-bike sales in these countries.



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Qualiket Research

Hemant Singh

8208257128

hemant.singh@qualiketresearch.com

Source: EmailWire.Com

Source: EmailWire.com

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