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E-Bike Market size was valued at USD 36825.19 million in 2019 and is poised to grow from USD 40664 million in 2023 to USD 89736 million by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).

One of the leading key players in this market is Accell Group. Around 3,100 people work for the company in 15 different countries. Additionally, the company sells its products to dealers and customers in more than 80 nations.Through its products such as the Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon, Accell enjoys a solid reputation as a brand in Europe. The company has been able to increase its market share thanks to these brands. 'Accell Group', ' Bosch ', ' Bafang Electric ', ' Giant Manufacturing ', ' Trek Bicycle ', ' Mahindra & Mahindra ', ' Pedego Electric Bikes ', ' Haibike ', ' M1 Sporttechnik ', ' Easy Motion Electric Bikes ', ' Yamaha Motor Corporation ', ' Prodecotech ', ' Stealth Electric Bikes ', ' F.I.V.E. Bianchi ', ' Specialized Bicycle Components ', ' BH Bikes ', ' Merida Industry ', ' Raleigh Electric ', ' Stromer Electric Bikes ', ' Gazelle Bikes ', 'In January 2022, Giant Bicycles announced a new collaboration with Team BikeExchange-Jayco, which will pave the way for the world's leading cycling brand return to professional road racing at the UCI World Tour level.', 'In July 2021, Pedego opened a new facility in Bethesda, Maryland, which offers a full range of e-bike sales, rentals, services, and accessories.'

Europe's Germany, France, and Spain, among others, have given cycling infrastructure development top priority and aim to increase annual investment to speed up the creation of a connected, safe bicycle network.This will support the numerous opportunities for bicycle infrastructure made possible by e-bikes and assist in reducing obstacles to cycling. As a result, expansion of the electric bike market will be fueled by increased policy support. E-bikes are quickly becoming a part of municipal bike sharing programs all over the world. Residents and tourists are using e-bikes more and more as a result of the demand for social distance and the need for more safe and accessible public transportation. Around 80% of Biki bike-sharing system users in Honolulu, Hawaii, stated that riding was the most preferred and safest form of public transportation. In 2019, the most recent year for which statistics were available, e-bikes were utilized in 28% of bike-sharing systems, as stated by the North American Bikeshare Association (NABSA).E-bikes were used 1.7 times more than conventional bikes, according to NABSA.For instance, in 2019, the entire bike-share fleet in Madison, Wisconsin, was replaced by electric models.

Mountain biking has seen a significant rise in popularity as a result of the worldwide increase in demand for cycling over the past two years. According to an analysis, the market for mountain biking and trekking is expected to expand at a rate of 10% annually during the forecast period. The market for e-MTB is expected to expand at a phenomenal rate due to the rise in adventurous sports and tourism. The demand for eco-friendly modes of transportation is growing, and so is the demand for bicycles all over the world. This is primarily due to the numerous advantages of cycling, including lower CO2 emissions, lower air pollution, lower noise pollution compared to other modes of transportation, lower fuel costs, improved public health, less road congestion, and lower construction and maintenance costs for road infrastructure.

The Asia Pacific dominated the market (with China accounting for most of the e-bike market share), and it stood at USD 22.56 billion in 2021. The dominance of the market in this region is attributed to factors such as the extensive bicycle infrastructure in developed and developing nations, such as China and Japan, high vehicle and public transportation congestion, and the increasing stringency of emission regulations for gasoline motorcycles.

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Global E-Bike Market

Product ID: SQMIG25C2047