Seattle, WA -- (SBWIRE) -- 11/14/2019 -- An electric bike or E-bike is a bicycle with an integrated electric motor, which can be used for propulsion. Some E-bikes use pedals, which supply differential force that used for forward movement of the bicycle to gain momentum. E-bikes are equipped with rechargeable batteries and can travel up to 25 to 32 km/h, depending on a country's government regulation. E-bike makes use of chargeable batteries, which have different capacities that depend upon their size. In most E-bikes, Li-ion chargeable batteries are used that can last a range of around 99.4 miles in a single charge. These E-bikes are available with battery type of either 8, 12, or 18-amp hour batteries. These bikes are categorized on the basis of the power of electric motor such as, peddle assist, speed pedelec throttle on demand and electric moped are the different categories of electric bikes.

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Market Dynamic- Drivers
Increasing Government Initiatives towards Adoption of E-bikes and Rapid Urbanization are the Factors Driving Growth for the Global E-bike Market
Increasing proactive government initiatives to endorse the use of E-bikes and strict norms in favor of electric bikes are expected to drive growth of the global E-bike market during the forecast period. For instance, in May 2017, Government of Andhra Pradesh, Greater Visakhapatnam Municipal Corporation (GVMC), launched India's first state-run mass electric two-wheeler mobility system. Furthermore, growing consumer preference towards use of E-bikes as an efficient and eco-friendly solution to commute coupled with rising costs of fuel is expected to propel growth of the global E-bike market during forecast period.

Moreover, growing interest in cycling as a fitness has driven a major shift in fitness-conscious customers, as riding an E-bike helps to travel longer distances with a same amount of peddling. Furthermore, cycling is a healthy as well as low-impact activity having many mental and physical health benefits such as alleviating stress, enhancing muscle strength, and building endurance.

Furthermore, an increasing urbanization is another factor driving growth of the global E-bike market. Urban population throughout the world is increasing at higher pace. According to the United Nations Reports 2018, 68% of the global population would reside in urban areas by year of 2050. Hyper-urbanization in some countries is hindering the city traffic by increasing traffic congestion, parking issues, high travel cost and delays in vehicle movement during traffic jams. Hence, the use of E-bikes can reduce the number of vehicles on the road and result in fewer traffic jams.

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Market Dynamics- Restraints
Unplanned Infrastructure in emerging economies and high cost of E-bikes are expected to restrain growth of the global E-bike market in the near future. According to Coherent Market insights, in the Netherlands, a quarter of all Europeans were found to be willing to commute by E-bikes. However, speed pedelecs witnessed a decline in sales from 4,561 units in 2017 to 2,735 units in 2018, owing to the infrastructural issue, as they have to share roadways with cars.

Global E-bike Market: Regional Insights
Among regions, Asia Pacific is projected to be the largest in the E-bike market, owing to fastest growing emerging economies such as China and India. The governments of these emerging economies have recognized growth potential of E-bikes and hence, governments have taken several initiatives to attract major original equipment manufacturers (OEMs) to manufacture E-bikes in their domestic markets. For instance, in December 2018, the Government of India announced financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under this scheme, there is a subsidy of up to INR 22,000 (US$ 319) for electric scooters or E-bikes. Thus, such government promotions and schemes have led to an increase in sales of E-bikes during the forecast period.

Moreover, high presence of key players and high purchasing power of consumers in the regions is expected to support the market growth. According to China Bicycle Association (CBA), in 2015, China was one of the world's largest manufacturer of electric bicycles and electric vehicles, with sales of up to 80,000,000 units, which accounted for the major revenue share of global E-bike market turnover. Key players in the global E-bike market are focusing on inorganic growth strategies, in order to expand their presence in the Asia Pacific E-bike market. For instance, in October 2016, Giant Bicycle announced partnership with one of the financial services player 'Affirm'. Through this partnership, Giant Bicycle's shoppers can pay for their bicycle purchases over time with Affirm. The company has also added online shopping capabilities to its website for online buyers.

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Key Players in the Global E-bike Market
Key players operating in the global E-bike market are Yamaha Motor Co., Ltd., Giant Bicycles, AIMA TECHNOLOGY CO., LTD, Accell Group, WUXI YADEA EXPORT-IMPORT CO., LTD., Trek Bicycle Corporation, Fuji-ta Bicycle Co., Ltd., GenZe by Mahindra, BionX International Corporation, ProdecoTech, goldenwheelgroup.com, and Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA).

Global E-bike Market: Taxonomy
By Product Type
-Pedelecs
-Throttle Mode
-Scooter & Motorcycle

By Drive Mechanism
-Hub Motor
-Mid Motor

By Battery Type
-Lead Acid
-Lithium Ion
-Nickel-metal Hydride (NiMH)
-Others

By Region
-North America
-Europe
-Asia Pacific
-Latin America
-Middle East
-Africa

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