During the projection period, the electric bike market share are anticipated to grow at a CAGR of 10%. The electric bike market is expected to grow from US$ 52.05 Billion in 2022 to US$ 122.1 Billion by 2032.

Key Takeaways from Electric bike Market

• With a CAGR of 3.2% over the forecast period, pedestals are predicted to be the most popular product category in the electric bike market.
• The lead-based battery type sector holds a commanding share of more than 85% in the electric bike industry.
• Battery-powered bikes are anticipated to experience a significant sales surge during the projected period, dominating the demand for electric bikes.
• Due to the high prevalence of two-wheelers, APEJ is the largest market for electric bikes. During the projected period, the electric bike market is expected to rise at a robust CAGR of 3.2% and create a US$ 6.1 Bn growth opportunity.
• Electric bike sales in the EU are projected to reach 13.1 million units by 2032, with 60% of those bikes being produced in Europe.
• The electric bike market in North America is expected to grow rapidly.

“Due to the rising consumer trend toward environmentally friendly modes of transportation, the global e-bike market is extremely opportunistic and competitive. Additionally, e-bikes are seen by manufacturers as an affordable alternative to electric automobiles. E-bike sharing services and government organization support to encourage e-bike application and acceptance will blossom industry expansion in the ensuing years. –  FMI Analyst

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Electric motorbike sales are expected to rise as a result of their many benefits. Electric bikes are a practical, versatile, eco-friendly, and fashionable mode of transportation. Consumers believe that e-bikes are the best alternative to scooters, smart cars, and public transportation.

The development of the electric bike market is anticipated to be fueled by government initiatives to promote their use and rising customer demand for them as a dependable and environmentally friendly means of transportation.

Electric motorbike sales are expected to rise as a result of their many benefits. Electric bikes are a practical, versatile, eco-friendly, and fashionable mode of transportation. Consumers believe that e-bikes are the best alternative to scooters, smart cars, and public transportation.

The market for electric bikes is anticipated to grow as a result of government initiatives to promote their use as well as increased customer demand for them as a dependable and environmentally friendly means of transportation.

As the demand for lighter, more durable e-bikes rises, numerous large corporations are developing profitable new revenue sources. To meet the diverse needs of clients on their daily urban commute, manufacturers of electric bikes are also expanding their assortment of automobiles with a choice of mileage and amenities. Sales of electric bikes are anticipated to rise as a result of factors like rising petrol prices, increased interest in cycling as a sport and recreation, and others.

Competition Landscape in the Electric bike Market 

Due to considerable expenditures made to improve the performance of the electric bikes and make them more comfortable to use, the top players in the global electric bike market fiercely compete with one another. The primary objective of these investments is to position e-bikes as the clientele's preferred alternative to private cars and other vehicles. To improve the efficiency of the e-bike drive unit, some of the players have made considerable investments.

The producers of electric bikes are also expected to expand through strategic activities like new launches, expansion, collaborations, and acquisitions.

The top competitors in the electric bike market are Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd.

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Key Segments Covered in the Electric Bike Market Report

By Product type:

• Electric Scooter
• Electric Motorcycles
• Pedelec

By Battery type:

• Li-Ion
• NiMH
• Lead-based

By Technology:

• Plug-In
• Battery

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan