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MARKET OUTLOOK

As stated in Triton’s research report, the global market for e-bike is estimated to advance at a CAGR of 9.95% over the registered phase of 2021-2028. 

The growing demand for eco-friendly transportation, government incentives, and surge in preference for e-bikes are driving the e-bike market on a growth path. Furthermore, the upscale in the use of e-bikes for delivery and e-bikes solving the issue of growing fuel costs are opening new avenues for the e-bike market. 

However, the elevated cost of e-bikes and product recalls, along with problems regarding distribution, negatively impact the overall growth of the e-bike market. 

REGIONAL OUTLOOK

The global e-bike market encompasses the Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa regions. 

Europe is predicted to attain the fastest growth rate in the e-bike market over the forecasted period. In recent years, consumers in the region are choosing e-bikes as a preferred mode of commute, leisure, or sports. Besides, these bikes have emerged as a solution for city logistics problems as they are eco-friendly and save space. This has surged the demand for e-bikes on a large scale. 

Furthermore, in the Netherlands, electric bikes have gained significant traction, outselling conventional bikes. This is primarily owing to the inclination of customers towards maintaining physical fitness. Hence, such factors widen the scope and growth of the e-bike market. 

COMPETITIVE OUTLOOK

The prominent companies in the e-bike market are Stromer, Panasonic Corporation, Riese & Mueller, Shimano Inc, Robert Bosch GmbH, Samsung SDI Co Ltd, Qwic, Derby Cycle, Golden Wheel Group, Accell Group, LG Chem, Brose Fahrzeugteile Se & Co KG, Fuji-Ta Bicycle Co Ltd, Trek Bicycle Corporation, Giant Manufacturing Co Ltd, Vanmoof, BMZ GmbH, and Jiangsu Xinri E-Vehicle Co Ltd.      

Accell Group is involved in designing and manufacturing racing, hybrid, mountain, electric, and luxury bicycles. It manufactures bikes under several brand names, including Sparta, Miyata, and Mercier. Besides, the company develops bicycle accessories and fitness equipment for its wide consumer base. Accell markets its bikes and related products to dealers and consumers across more than 80 countries. It is headquartered in The Netherlands.