19 March 2021
Visiongain has published a new report on E-Bike Market Report to 2031: Forecasts by Usage (Trekking, City/Urban, Cargo and Others), by Electric Motor Type (Hub Motor, Mid Motor), by Mode (Pedal Assist and Throttle), by Battery Type (Lithium-Ion Polymer Battery, Lithium-Ion Battery, Lead-Acid Battery and Others), by Class (Class 1, Class 2, Class 3) and by Region PLUS Profiles of Leading E-Bike Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global E-Bike market was valued at US$ xx billion in 2019 and is projected to reach at a market value of US$ xx billion by 2031. The E-Bike Market witnessing high demand of safety and features in vehicles due to which gradual growth in the market can be seen due to its Class 1 E-bike segment. A Class 1 E-bike is the most efficient and equipped bike among all the classes. It provides assistance only when the driver is pedalling and stops when the speed reaches to 20 mph. Hence, the Class 1 E-Bike market is expected to boost the demand in the market.
COVID-19 Impact on E-Bike Market
As Covid-19 has caused a lot of damage in various industries, the pandemic outbreak and lockdown restrictions has witnessed the decline in production of E-bikes. However, market is picking up again and will surely be seen as fully functional market segment.
Initiatives taken by the companies to develop advanced technologies and applications and government regulations are one of the major drivers for E-bike market segment. Due to traffic congestion on roads of crowded cities/ highly populated countries, governments are promoting the use of E-bikes. The benefit is that, it will occupy less space on roads and hence less traffic jams.
The introduction of new technology and autonomous vehicle has transformed to ease the commute. E-Bike technology in the market has reduced the complexity of driving. Bike sharing is new trend in public and private transportation. It offers sustainable, healthy and quick alternative transportation choice. E-bike reduces the effort of driver and covers the longer distance as compare to traditional bicycles. Sharing electric bike also offers less cost by dividing the fare between the two parties. These E-bike sharing model can boost the E-bike market tremendously.
Competitive LandscapeThe global E-Bike market is dominated by big players such as Yamaha Motor Corporation, Giant Manufacturing Co., Ltd, Accell Group N.V, Aima Technology Group Co., Ltd, and Yadea Group Holdings Ltd.
These companies have secure their position in the market to offer wide range of advanced assistance systems. The key strategies adopted by these companies is to sustain their market position are new technology, new product development, Contract agreement and Collaborations.
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