E-Bikes: Trends Present Billions of Dollars Worth Opportunity

- Advertisement -

Folding e-Bike is becoming a popular choice among almost urban commuters. Major conventional bicycle manufacturers are also launching their e-bike with the latest technology and innovative design in the Indian market

The global e-bike market, as per a report by Research and Markets, is projected to grow to $70 billion by 2027. The same has been valued at $41.1 billion in 2020. The growth forecast represents a CAGR of 7.9 per cent.

“Government support and initiatives to increase the sale of e-Bike would drive the global e-Bike market,” read the report.

- Advertisement -

It continued, “Class-III e-bikes have a potential solution for car replacement to avoid traffic and reduce emissions. Therefore, the market for Class-III e-bikes is expected to grow during the forecast period. Class-III e-bikes currently don’t have in the Asia Pacific region.”

However, in Europe, Switzerland is the largest market for Class-III e-bikes, followed by Belgium and Italy. The North American region presently has a limited penetration of Class-III e-bikes, with only six states authorizing their operation. Also, Class-III e-bikes in both Europe and North America have a minimum age restriction of 16 years.

Class-III e-Bike estimated to be the fastest-growing e-Bike market globally

Class-III e-bikes, as the report mentions, have a potential solution for car replacement to avoid traffic and reduce emissions. Therefore, the market for Class-III e-bikes is expected to grow during the forecast period. Class-III e-bikes currently don’t have in the Asia Pacific region. Whereas, in Europe, Switzerland is the largest market for Class-III e-bikes, followed by Belgium and Italy.

The North American region presently has a limited penetration of Class-III e-bikes, with only six states authorizing their operation. Also, Class-III e-bikes in both Europe and North America have a minimum age restriction of 16 years.

“Folding e-Bike is becoming a popular choice among almost urban commuters. Major conventional bicycle manufacturers are also launching their e-bike with the latest technology and innovative design in the Indian market. For instance, in the 2020 Auto Expo, Hero Cycle its e-bikes lineup, which includes a folding bike (Easy Step, a straphanger), and an electric fat bike (Essentia),” read the report.

Presently, the market for folding and fat-tire e-Bikes is limited in Asia Pacific, Europe, and North America. However, we expect the market for folding and fat-tire e-Bike to be the fastest-growing e-Bike market globally over the forecast period.

Currently, the North American region has a minimal presence of e-bike manufacturers, resulting in a limited market for e-bikes. However, public awareness about e-bikes and the involvement/ interest of traditional bicycle brands towards e-Bike has created a buzz about e-bikes in the market. Pedego Electric Bikes and Trek Bicycle Corporation are the major manufacturers of e-bikes in North America. Therefore, over the forecast period, North America is expected to be the fastest-growing market.

- Advertisement -

Most Popular Articles

Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

Greaves Cotton Targets ₹15,000 Crore Revenue By 2030

0
Chairman Karan Thapar emphasised Greaves' evolution into a complete mobility solutions provider featuring a strong, varied growth model. Greaves Cotton Ltd. (GCL) has evolved from...

TSMC Grows EUV Share To 56%, Outpaces Rivals

0
Powering ahead, TSMC is dominating EUV market with 56% share reportedly. While it solidifies its lead in semiconductor technology, Samsung Foundry looks to compete...

Bangladesh Unlocking Its $1B Semiconductor Export Potential?

0
Speaking on workforce development, policy support, and global partnerships at a US meeting, the Bangladesh Semiconductor Industry Association has ambitious goals. The Bangladesh Semiconductor...

Vajram Electric Aims To Expand Manufacturing And Global Presence

0
Vajram Electric Ltd is securing financing to enhance its manufacturing plant, increase production, and establish itself as a major supplier of international electric vehicle...

India, Kazakhstan Forge Stronger Ties In Electronics

0
Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups