E-BIKE MARKET SIZE IS PROJECTED TO REACH USD 80.6 BILLION BY 2027
According to a research report E-Bike Market* the e-Bike market size is projected to reach USD 80.6 billion by 2027 from an estimated USD 49.7 billion in 2022, at a CAGR of 10.2% from 2022 to 2027.
The growth in the E-Bike industry is expected mainly because E-Bikes offer a healthy, eco-friendly solution for commuting at a much lower price than electric two-wheelers and help deal with increasing traffic congestion.
City/Urban e-Bike segment is expected to be the largest segment from 2022 to 2027.
The city/urban e-Bikes are designed for frequent, short, moderate pace rides through relatively flat urban areas. The city/urban e-Bike segment is estimated to have the market share of ~60% in 2022 and is predicted to grow with by 2027.
Rapid urbanization and traffic congestions are among the key factors contributing to the growth of the city/urban e-Bike market. Most countries are also focusing on boosting the usage of city/urban e-Bikes through subsidies and regulations to reduce the stress on public transportation systems.
China, Japan, India, and South Korea in Asia Oceania face traffic congestion due to high population and vehicle density. Thus, the city/urban e-Bike segment is estimated to have largest market share in Asia Oceania by 2027.
*by Class (Class-I, Class-II, Class-III), Speed (Up to 25km/h, 25-45 km/h), Battery Type (Lithium-ion, Lithium-ion Polymer, Lead Acid), Motor Type, Mode (Pedal Assist, Throttle)
(From the report E-bike Market)