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MARKET OUTLOOK

Triton Market Research's report denotes that the e-bike market in Asia-Pacific is predicted to progress at a CAGR of 9.35% during the considered period 2021-2028. Vietnam, South Korea, India, China, Indonesia, Australia & New Zealand, Japan, Thailand, and Rest of APAC form the market in the given region.

In 2020, China contributed significantly to the e-bike market, owing to the rise in electric bike adoption rate to tackle heavy traffic conditions and rising vehicle pollution levels. It is further estimated that the demand and adoption of e-bikes will increase due to the drop in the cost of e-bikes over the forecast period. Other than this, due to the rise in gasoline and electricity prices, e-bikes have emerged as a more economically viable alternative to gasoline-powered scooters. Moreover, presently, the country is one of the largest exporters of e-bikes globally. Therefore, these trends are predicted to widen the scope and growth of the e-bike market in the upcoming years. 

In South Korea, the demand for e-bikes is estimated to increase in the near future, owing to the implementation of new laws. Under the new law, people using electric bikes are not required to have a driving license. Moreover, pedal-assist e-bikes may be categorized as regular bikes if they meet the Ministry of Interior and Safety requirements. Hence, such measures by the government favoring the adoption of e-bikes will offer new opportunities to the South Korean e-bike market.

COMPETITIVE OUTLOOK

The well-known enterprises in the e-bike market consist of Trek Bicycle Corporation, Stromer, Robert Bosch GmbH, Golden Wheel Group, Derby Cycle, Fuji-Ta Bicycle Co Ltd, Shimano Inc, Samsung SDI Co Ltd, and Jiangsu Xinri E-Vehicle Co Ltd.