Global E-Bike Market Anticipated to Surge to $77.6 Billion by 2028: BCC Research
Mar 19, 2024
E-bike markets refer to the buying and selling of electric bicycles. These bikes have a motor that assists with pedaling, making them easier to ride than traditional bicycles. The market involves the production, sale, and distribution of e-bikes to consumers worldwide. As interest in sustainable transportation and health-conscious lifestyles grows, the e-bike market has seen significant expansion, with various companies competing to offer innovative designs and features to meet consumer demands. BOSTON, March 19, 2024 /PRNewswire/ -- "According to the latest research study, the demand for E-Bike: Global Markets expected to grow from $44.9 billion in 2023 and projected to reach $77.6 billion by the end of 2028 at a compound annual growth rate (CAGR) of 11.6% during the forecast period 2023 to 2028." This report analyzes the global e-bike market from 2023 to 2028, with insights gathered from primary and secondary research. It covers market drivers, COVID-19 impact, and regulatory aspects. E-bikes are bicycles with electric motors and rechargeable batteries, offering travel of 35-50 km at speeds of 20-25 mph. The report focuses solely on e-bikes, excluding electric mopeds or scooters. Presented in an easy-to-understand format with tables and charts, it delves into class, configuration, motor, propulsion, battery types, power, and applications globally and regionally. Each segment's current and projected market size with CAGR is examined. Additionally, it features profiles of key e-bike players and their market strategies, along with a competitive landscape chapter. In 2022, the average price of lithium-ion batteries was around $150/kWh, with a 5% decrease in battery pack production costs from 2021 to 2022, signaling a continuing decline. E-bikes enhanced with Smart Assist technology offer seamless riding experiences by automatically adjusting assistance levels, akin to vehicles with automatic transmission. The top markets for e-bike sales include China, Germany, the U.S., Japan, and South Korea, contributing over 85% of global revenue. Discover the insights driving the growth of the e-bike market. Click here to Learn More Key Market Drivers of E-Bike Global Markets: Increasing Electric Mountain Bike (e-MTB) Demand: referring to a rising desire among consumers for electric mountain bikes. This means more people are interested in purchasing and using e-MTBs for their outdoor adventures and mountain biking activities. Government Assistance to Boost e-Bike Sales to Reduce CO2 Emissions: means that the government is offering help or support to encourage more people to buy e-bikes. They're doing this because e-bikes produce fewer carbon dioxide (CO2) emissions compared to traditional vehicles, which helps to reduce air pollution and combat climate change. Favorable Subsidies and Programs from the Government: government is implementing supportive measures and initiatives specifically aimed at the e-bike market on a global scale. These measures could include financial subsidies, tax incentives, infrastructure development, or other programs designed to encourage the adoption and growth of e-bikes worldwide. Growing Demand for Clean Energy: indicates an increasing desire for energy sources that are environmentally friendly within the global e-bike market. It suggests that more people are seeking e-bikes as a means of transportation or recreation because they use clean energy and produce fewer emissions compared to traditional vehicles. Request a Sample Copy of the E-Bike: Global Markets: Report Synopsis Full story available on Benzinga.com
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