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MARKET OUTLOOK

As stated in Triton Market Research’s report, the e-bike market in North America is anticipated to witness growth at a CAGR of 10.13% in the years 2021-2028. The United States and Canada shape the market in this region.

In Canada, some of the factors supplementing the growth of the studied market are the rising demand among retired consumers and the growing demand for recreational activities. Moreover, e-bikes are gaining immense traction in major cities, such as Toronto and British Columbia. This has resulted in the government introducing new rules and developing new infrastructure to support the growing adoption of e-bikes. For instance, the city of Vancouver introduced the Transportation 2040 plan in which electric bicycles are stated to be among the increasing modes of transport. Besides, Revolution Cycle in Edmonton began pedelec bicycle tours to enhance the sales of e-bikes. Hence, these developments are anticipated to drive the growth of the e-bike market within Canada. 

Furthermore, the ever-growing focus on recreational activities is among the major factors augmenting the growth of the considered market in the US. Moreover, e-bikes are gaining momentum among the geriatric population and recreational riders. Additionally, numerous companies are focusing on the senior population, citing health-related benefits to the target audience. This step is anticipated to influence the demand among older people to use e-bikes without facing multiple issues, including joint pain. Therefore, the growing demand among baby boomers is likely to widen the scope and growth of the e-bike market in the United States. 

COMPETITIVE OUTLOOK

The major companies engaged in the e-bike market are Shimano Inc, Giant Manufacturing Co Ltd, Stromer, Trek Bicycle Corporation, BMZ GmbH, Golden Wheel Group, Vanmoof, Riese & Mueller, and Qwic.