The global electric bikes market across the Asia-Pacific has dominated the market. In addition, the European region is anticipated to maintain its dominance throughout the forecast period.
Portland, OR, Nov. 19, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global electric bikes are expected to reach $23.83 billion by 2025, growing at a CAGR of 4.9% by 2025. The report highlights the major segments, market characteristics, top investment pockets, growth by segmentation, and competitive landscape.
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Shankar Bhandalkar, Team Lead Research, Consumer Goods at AMR, highlighted, “Surge in the electric bikes market demand coupled with growing concern among consumers for eco-friendly products significantly influences the rate of electric bikes demand across the world.”
According to the report, the region across the Asia-Pacific dominated the market. In addition, the European region is anticipated to grow significantly. On the other hand, the market across North America is expected to grow at the fastest CAGR throughout the forecast period. At the same time, LAMEA region is also anticipated to witness prominent growth by 2025.
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The global electric bikes market is analyzed across product type drive mechanism, and battery type.
By battery type, the market is classified into lead-acid, lithium-ion, and nickel-metal hydride, and others. The lead acid segment contributed to the highest market revenue, owing to the factors such as low cost and ease of recycling. At the same time, the lithium-ion segment is expected to rise exponentially throughout the forecast period. This is owing to their light weight and high capacity.
By product type, the global electric bikes market is divided into pedelecs, throttle on demand, and scooter & motorcycle. The pedelecs segment contributed for the highest market share. This is due to its high adoption for commute globally.
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The global Electric Bikes market report includes a comprehensive analysis of the major market players such as Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co., Ltd, Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, Prodecotech, LLC, and Tianjin Golden Wheel Group Co., Ltd.
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