PUBLISHER: Inkwood Research | PRODUCT CODE: 1454786
PUBLISHER: Inkwood Research | PRODUCT CODE: 1454786
The global e-bike market is set to project a CAGR of 11.37% in terms of revenue during the forecast period, 2024-2032. The market growth is driven by supportive government policies promoting sustainable transport options and the rise in consumer inclination towards eco-friendly commuting solutions
Electric motorcycles, bicycles, and scooters have garnered considerable attention as efficient and reliable light motor vehicles (LMVs). Not only do they provide users with a means to reduce their carbon footprint, but they also offer governments an opportunity to incentivize environmentally friendly modes of commuting through reductions in registration taxes and other liabilities.
The escalation of global carbon emissions due to fuel combustion has long been a focal point for environmentalists. This concern has propelled the demand for electric vehicles worldwide, bolstering market growth significantly. Additionally, electric bicycles have experienced a surge in popularity in recent years, driven by economic, environmental, and advancements in design and performance. As a result, their adoption has rapidly expanded across continents, reflecting the growing consciousness towards sustainable transportation solutions.
The global e-bike market growth evaluation entails the assessment of Asia-Pacific, North America, Europe, and Rest of World. The Asia-Pacific is expected to be a key region across the global market. The market's growth in the Asia-Pacific is fueled by favorable demographic shifts such as rising incomes and urbanization, in addition to aspects like worsening air pollution, traffic congestion, and space constraints.
The global e-bike market exhibits significant fragmentation, characterized by the presence of numerous local manufacturers. Innovation plays a pivotal role in establishing sustainable competitive advantages, with manufacturers actively pursuing independent technological advancements. While competition among players is notable, the industry rivalry remains moderate in intensity.
Some of the key companies operating in the global market include Robert Bosch GmbH, Hero Cycles Ltd, Yamaha Motor Group, etc.