- Apart 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, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-bike Market - Growth, Trends, and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05790916/?utm_source=GNW
- The market has been segmented by propulsion type and application type. In 2019, by propulsion type, pedal-assisted e-bikes dominated the market, and accounted for 88.36% 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. Due to the COVID19 pandemic outbreak and the lockdowns and restrictions that followed, the production of e-bikes witnessed a decline, but the market is again picking up pace owing to the growing demand as more people are exploring options of travel over public transport.
- Some of the major players in the e-bike market are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and M1 Sporttechnik.
Key Market Trends
Growing Demand for Eco-Friendly Transportation
- Mobility plays a vital role in the current society that we live in.With the growing concern for preserving and sustaining it for future generations, mainly because of the increasing scarcity of natural resources and environmental concerns, protecting the environment poses a great challenge to 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 future generations. This factor is posing a huge challenge for governments and society. Thus, e-bikes are proving to be an ideal solution for the challenge.
Europe – the -Fastest Growing Market
The European region accounted for approximately 35% of the e-bike market after the North America 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 the 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 2019, the e-bike sales in Germany captured a 37 % share in the total bicycle market in Europe region. 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 a 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 extremely fragmented, with the major players holding a low share of the total market share. Some of the major market players are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and Fritzmeier Systems GmbH & Co. Kg (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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