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[Redding, California – Feb 02, 2024] — Meticulous Research®, a leading global market research company, has released a groundbreaking research report titled ‘E-bikes Market by Propulsion Type (Throttle-assisted and Dual Mode), Class, Power Output, E-bike Type, Battery Type, Motor Type (Hub Motors and Mid-drive Motors), Structure, Charging Type, Charging Mode, and End User – Global Forecast to 2030.'
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According to the report, the e-bikes market is poised to surge to $88.3 billion by 2030, registering a robust CAGR of 11.9% during the forecast period. This growth is attributed to the escalating adoption of e-bikes for short commutes, a heightened focus on environmental sustainability, and favorable government policies and regulations. Additionally, the market is expected to benefit from the increasing health consciousness among consumers and the burgeoning popularity of e-bikes in emerging economies.
Despite these positive trends, challenges such as the high cost of e-bikes and the limited lifespan of batteries hinder the market's potential. Issues like e-bike theft, vandalism, and inadequate cycling infrastructure in developing nations pose significant hurdles for industry players. On a positive note, Original Equipment Manufacturers (OEMs) are making strides in producing lightweight bikes, and the rise of connected e-bikes stands out as a notable trend in the market.
The E-bikes market is meticulously segmented by propulsion type, class, power output, e-bike type, battery type, motor type, structure, charging type, charging mode, and end user. The study offers a thorough evaluation of industry competitors and analyzes the market at the regional and country levels.
Key Segmentation Highlights:
Propulsion Type:
- Throttle-assisted e-bikes and dual-mode e-bikes.
- In 2023, the throttle-assisted segment is projected to dominate the global market, driven by the increasing demand for throttle-assisted mountain off-road e-bikes, facilitating fast climbing and reliable commuting.
Class:
- Class 1, class 2, and class 3.
- The class 1 segment is anticipated to hold the largest share in 2023, owing to its flexibility, efficiency, and longer running range compared to other e-bike types.
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Power Output:
- Below 250 W, 250 W–750 W, and more than 750 W.
- Below 250 W segment is expected to lead the market in 2023, fueled by the growing adoption of e-bikes for urban commuting, recreational activities, and government initiatives.
E-bike Type:
- City e-bikes, adventure e-bikes, sports e-bikes, delivery/cargo e-bikes, and other e-bike types.
- The city e-bikes segment is forecasted to command the largest market share in 2023, attributed to rising government initiatives, lower costs, quicker urban commutes, and free parking.
Battery Type:
- Lithium-ion batteries, sealed lead acid batteries, lithium-ion polymer batteries, and other battery types.
- In 2023, the lithium-ion batteries segment is expected to dominate, driven by increasing demand for electric vehicles, advancements in battery technology, and government policies.
Motor Type:
- Hub motors and mid-drive motors (further segmented into geared hub motors and gearless hub motors).
- The hub motors segment is poised to capture a larger market share in 2023, owing to enhanced performance efficiency, increased range, and global sales growth of E-bikes.
Structure:
- Foldable e-bikes and non-foldable e-bikes.
- The non-foldable e-bikes segment is predicted to have a larger market share in 2023, fueled by the rising adoption for short commutes, affordability, and deployment for micromobility.
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Charging Type:
- Connector charging and wireless charging.
- Connector charging is expected to dominate the market in 2023, attributed to rising global e-bike sales, government policies, environmental concerns, and low charging costs.
Charging Mode:
- Plug-in charging, swappable battery, and solar-powered.
- The plug-in charging segment is anticipated to have the largest share in 2023, driven by government initiatives to expand EV charging infrastructure and increased investment in developing economies.
End User:
- Government agencies, academic institutes/universities, business organizations, micromobility service providers, commercial & delivery services, individuals, and other end users.
- Business organizations are projected to account for the largest share in 2023, attributed to growing consumer demand for fuel-efficient and zero-emission vehicles, government incentives, tax rebates, declining battery costs, and rising fuel prices.
Geographical Insights:
- North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
- In 2023, Asia-Pacific is expected to dominate the e-bikes market, followed by North America, Europe, Latin America, and the Middle East & Africa. The rapid growth is fueled by increasing startup solutions, attractive incentives, and the regional core competencies of countries like China, Japan, South Korea, and India.
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Key Players: The key players in the e-bikes market include Robert Bosch GmbH (Germany), Yamaha Motor Co., Ltd. (Japan), Aima Technology Group Co. Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), Merida Industry Co., Ltd. (Taiwan), PEDEGO INC (U.S.), Rad Power Bikes Inc. (U.S.), Yadea Group Holdings Ltd. (China), Aventon (U.S.), Fuji-ta Bicycle Co.,Ltd. (China), Trek Bicycle Corporation (U.S.), Riese & Müller GmbH (Germany), Leon Cycle Ltd. (U.K.), myStromer AG (Switzerland), Magnum Electric Bikes (U.S.), Brompton Bicycle Ltd (U.K.), MAHLE GmbH (Germany), Hero Cycles Ltd. (India), Electric Bike Store Ltd (U.K.), and Juiced Riders, Inc. (U.S.).
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