- AApart from the increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period.
New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-bike Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05790916/?utm_source=GNW
- The market has been segmented by propulsion type and application type. In 2018, by propulsion type, pedal-assisted e-bikes dominated the market, and accounted for 88.32% of the global market. By application type, city/urban e-bikes dominated the market.
- Asia-Pacific is expected to dominate the global market. In Asia-Pacific, China dominated the regional market. The largest consumption of electric bikes was in China, which boosted the sales figure, and thus influencing the growth of the global market for electric bikes. The import and export volumes in China are also large, and China has always been the largest exporter of electric bikes. The Government of India has also encouraged to use electric bikes. By the end of 2035, the government is looking forward to convert fuel vehicles into electric vehicles.
- Some of the major players in the e-bike market are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and M1 Sporttechnik.
Key Market Trends
Rise in the Demand of Green Transportation
- Mobility plays a vital role in the current society that we live in.
- With the growing concern for preserving and sustaining it for the future generations, especially because of the increasing scarcity of the natural resources and environmental concerns, protecting the environment poses a great challenge on both the society and governments worldwide.
- As a result, the rising demand for e-bikes is proving to be an ideal solution to the challenge.
- With the continually growing environmental and health concerns, due to the increasing emission levels, the governments and international organizations worldwide are enacting stringent emission norms to reduce carbon emission levels.
- Additionally, the depletion of fossil fuel levels at an alarming rate has been creating concerns for sustainability for the future generations. This factor is posing a huge challenge for the governments and society.
- Thus, e-bikes are proving to be an ideal solution for the challenge.
Europe – the Second Fastest Growing Market
The European region accounted approximately 20% of the e-bike market, after Asia-Pacific region.
The European region was dominated by Germany, followed by France and Italy.
In Germany, e-bike is a preferred mode of mobility, as well as for sports and leisure, also as a clean, quiet, and space-saving alternative for city logistics, in the country.
Some of the major factors driving the sales of e-bike market are innovative characters of the product; fully integrated batteries and drives; appealing designs, as well as the use of high-quality materials.
In 2018, the e-bike sales in Germany captured a 23.5% share in the total bicycle market. Out of the total e-bikes sold in Germany, 99.5% are of 250W/25Km/h models. Remaining 0.5% of the total e-bikes sold, are of speed pedelecs; the 45 km/hr models, which are type-approved, and for which, the insurance and helmet obligation applies.
Apart from Germany, countries, like France, Italy, the Netherlands, and Spain, also witnessed high demand for e-bikes. Some of the major reasons considered for adopting e-bike are the health benefits, environmental benefits, reduction in expenditure, avoidance of traffic congestion, and the increase in demand for e-bikes as sports equipment among youth. In the Netherlands, a quarter of all Europeans were found to be willing to commute by e-bikes.
The e-bike market is an extremely fragmented market, with the major players holding low share of the total market share. Some of the major market players are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and M1 Sporttechnik.
Giant Bicycles is expected to be the largest player in this market. The company’s presence is majorly concentrated in China, with Europe and North America being the other important markets. The company is diversifying its product portfolio through innovations and new launches, and is aiming to continue its spot as the market leader.
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