The electronic bike is known as an e-bike. It is an integrated electric motor with a battery that generates power for assisting propulsion. Different kinds of available electronic bikes range from e-bikes with pedal power and small motor to powerful one generating intense power to drive the vehicle with the help of throttle. Electric bikes are eco-friendly, versatile, flexible, and trendy transport modes.
The growing initiatives and support from the government to encourage the sales of e-bikes globally will steer the growth of the global e-bike market significantly. The growing urbanization along with constantly increasing traffic congestion is likely to expedite demand for e-bikes globally. Several countries are unanimously working towards supporting the trend of e-bikes with the help of regulatory changes and subsidies to lower the burden on public transports. However, when compared to traditional transportation system, e-bikes are much more cost-effective, convenient, & rechargeable and do not need heavy investments to build a supportive infrastructure. The surging popularity of e-bikes along with ongoing technological advancements is likely to support the growth of the global market in the forthcoming years.
The connected e-bike solutions require a SIM module that enables them to receive and send information to and from the cloud without the help of mobile phones. Several advanced features offered by connected e-bike solutions include remote diagnostics, anti-theft system, social media connection, integrated navigation, and emergency call. Bosch is one such leading company in the global e-bike market offering the facility of connected e-bike solutions. For example, Bosch offers SmartphoneHub which provides the connect e-bikes facility to smartphones and supports the rides throughout the journey. Such an emerging landscape is likely to boost the growth of the e-bike market in the forthcoming years.
The global e-bike market can be segmented into the mode, motor, speed, battery, usage, class, and region.
By mode, the market can be segmented into throttle and pedal assist mode.
By motor, the market can be segmented into hub and motor.
By speed, the market can be segmented into 25 to 45 km per hour and up to 25 km per hour.
By battery, the market can be segmented into the lead, lithium-ion, polymer lithium, and others.
By class, the market can be segmented into class 3, class 2, and class 1.
Bi usage, the market can be segmented into cargo, urban, trekking, and others.
North America accounts for the largest share in the global e-bike market due to the growing consumer inclination towards adopting e-bikes as it has emerged as an efficient and eco-friendly transportation mode. Also, the surge in global carbon emission is one of the key factors compelling the regional government to promote e-bikes. Also, the presence of prominent technology leaders offering advanced and improved e-bike infrastructure along with intensive battery solutions in the region will propel the growth of the regional market.
Asia Pacific is expected to be the fastest-growing region in the global e-bike market due to the growing traffic congestion in the region like China and India.
Some of the significant players in the global e-bike market are Yamaha Motor Co. Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., Prodecotech, LLC, Mahindra & Mahindra Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Giant Manufacturing Co., Ltd., Fuji-ta Bicycle Co., Ltd., Derby Cycle, and Accell Group. To cite, Bikeep, commercial bike racks & bike parking systems manufacturer in 2017 launched a smart bicycle rack solution that offers electric bicycle charging.