Dec 06, 2019 (Market Insight Reports via COMTEX) —
The global e-bike market was valued at USD 14,755.20 million in 2018, and is expected to grow at a CAGR of 6.39%, during the forecast period, 2019-2024.
E-bike, commonly known, as an electric bicycle, is a bike that has an integrated electric motor aligned to the pedals of the bicycle, which supplies differential force used for forward movement of the bicycle. The electric bikes majorly use Li-ion chargeable battery, and have a range of maximum 99.4 miles (160 km) in one single charge. These bicycles are available with battery type of either 8, 12, or 18-amp hour batteries.
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The global electric bikes industry has been witnessing bright opportunities, owing to government support and strict rules in favor of electric bikes. Moreover, growing consumer inclination towards use of e-bikes as an eco-friendly and efficient solution to commute and increasing fuel costs drive the growth of the global electric bikes market.
The growth in global E-Bikes market market is also influenced by the presence of major players such as Yuneec, Derby Cycle, Liberty, Leader 96, BMW, Zhejiang R&P Industry, Pedego, DK, Twikke, CM Partner, Aodi, E-Rex, Toyota, Alta, Ford, Tonaro, Optibike, FRITZMEIER, IBD, Accell Group, Sanyo system, Klever Mobility, BH BIKES, Elio, Honda, Jinhua
Most important types of E-Bikes market products covered in this report are: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Others
Most widely used downstream fields of E-Bikes market market covered in this report are: Personal, Commercial, Others
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The global E-Bikes market is segmented into six key regions, namely North America, South America, Europe, and Asia Pacific, Japan, China and the Middle East & Africa
Europe – the Second Fastest Growing Market
The European region accounted for 20.12% of the global market, and is expected to witness the fastest growth rate of 6.23%, during the forecast period, 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.
Additionally, e-bikes made in Germany continue to see high demand, as the country's bike manufacturers exported nearly 440,000 e-bikes in 2018, which increased by 51%, when compared to 2017 export total.
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. However, speed pedelecs witnessed a decline in sales from 4,561 units in 2017 to 2,735 units in 2018, primarily because of the infrastructural issue, as they have to share roadways with cars.
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COMTEX_358811235/2599/2019-12-06T23:21:25
