E-Bike Market Outlook and Forecast 2020 due to COVID-19 Impact

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The soaring number of government incentives and subsidies aimed at promoting the adoption of electric bikes (e-bikes) is one of the major growth drivers for the demand for e-bikes across the world. For instance, the Swedish government announced a subsidy of 25% per e-bike to all the citizens of the country for up to the next three years, in 2018, which in turn increased the sales of e-bikes in the country from over 67,000 units to more than 100,000 units from 2017 to 2018 respectively. 

The other major factor pushing the demand for e-bikes across the globe is the increasing need for green-energy powered vehicles owing to the rising pollution level in several countries. In countries like the Netherlands, Germany, Japan, and Belgium, there has been a massive rise in the adoption of pedal-assist electric bikes and other low-speed electric vehicles, by people for commuting purposes. Moreover, the surging geriatric population level in many countries is also causing the people to shift to these bikes for short commuting purposes, primarily in order to improve their health and wellness. 

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Due to the above-mentioned factors, the revenue generated from the sales of e-bikes is expected to increase from $14.4 billion in 2019 to more than $25.9 billion by 2025. The global e-bike market is predicted to demonstrate a CAGR of 10.3% during the forecast period (2020—2025).E-bikes can either be owned or shared, of which personal e-bikes recorded higher usage in 2019. This is mainly ascribed to the burgeoning adoption of these bikes by the people for travelling purposes.

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The research offers market size of the global electric bike for the period 2014–2025.

Market Segmentation by Ownership Type

  • Personal
  • Shared

Market Segmentation by Battery

  • Lithium-Ion (Li-Ion)
  • Lead Acid
  • Others

Market Segmentation by Propulsion Type

  • Pedal-Assist
  • Throttle-Based

To Get Full Research Report on Electric Bike Business

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