The momentum is powered by greater acceptance, technological strides, and the inclusion of e-bikes in bike-sharing schemes.
According to recent insights from global market analysis, the e-bike domain is on the brink of an explosive surge worldwide. With its valuation at 35.69 billion USD in 2021, predictions set it at a staggering 91.19 billion by 2029, boasting a compound annual growth rate (CAGR) of 12.6%.
This surge is underpinned by multiple factors. Foremost, there's an evident surge in policy endorsements and an expansion of e-bike sharing initiatives. Moreover, cycling-friendly infrastructures are rapidly taking shape, especially in burgeoning economies and urban localities.
The environmental consciousness wave also steers the shift, as more individuals pivot from conventional vehicles to diminish their carbon footprint. Boosting this trend, numerous regions have unveiled tax reliefs to promote e-bike acquisitions. Notably, recent legislative actions in the U.S. champion enhanced cycling infrastructures and cost-efficient e-bike solutions.
Enhanced technologies have optimized e-bike affordability, increased battery longevity, and cemented e-bikes as a tangible transit solution, the analysis reveals. Despite existing cost impediments, tax reliefs and a growth in e-bike-sharing networks are facilitating easier access.
Prominent players in the e-bike arena encompass Giant Bicycles, Accell Group, Bosch, Pedego Electric Bikes, Panasonic Corporation, Trek Bicycle Corporation, Shimano Inc., VanMoof, and Rad Power Bikes.
Key players steering the helmet industry include Giro, Bern, POC, Kask, and the innovative Xnito. As e-bike popularity surges, these brands are at the forefront of ensuring rider safety with advanced helmet designs and breakthrough technologies.
Asia-Pacific is anticipated to be the epicenter of this growth, catalyzed by China's expanding cycling routes. Amid significant traffic snarls and an overwhelmed public transit system, Chinese commuters are gravitating towards e-bikes. Stricter emission protocols and climate-conscious measures also spur the e-bike ascendancy as traditional fuel vehicles face gradual obsoletion.
Europe too is on a definitive growth trajectory, with e-bike production amplifying.
Although the U.S. displayed a more restrained e-bike adoption, the forecast anticipates a significant uptick in the North American segment, accelerated predominantly by the e-bike bike-sharing model. Post the 2020 pandemic-triggered e-bike sales boom, North America's e-bike market landscape has evolved remarkably.
Source: https://www.cyclingweekly.com/news/e-bike-industry-to-grow-to-dollar9219-billion-by-2029-report-says
Author: Benjamin Dai