Dublin, Aug. 25, 2022 (GLOBE NEWSWIRE) -- The "Electric Bikes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Electric Bikes Market to Reach $34.7 Billion by 2026

Amid the COVID-19 crisis, the global market for Electric Bikes estimated at US$26.2 Billion in the year 2022, is projected to reach a revised size of US$34.7 Billion by 2026, growing at a CAGR of 7.1% over the analysis period.

The bike boom can be attributed to confluence of various favorable factors. While shutdown of gyms prompted people to explore other options for physical workouts, various workers started searching for alternatives to subways and buses. In addition, stay-at-home mandates drove families to look for options to keep children stay active, including leisure family-oriented bikes.

Families are investing in bikes to support kids who were unable to go to pools. Bicycles have provided families with the option to stay active and engage in physical exercise during pandemic. The scenario is driving demand for electric-assist bikes. The strong demand for commuter electric bikes has created shortage of these bikes across stores in the US and UK.

Leading manufacturers of these bicycles are finding it challenging to ramp up demand for addressing demand, leading to longer delivery times. The pandemic is anticipated to bring a long-term change in consumer preference and considerably benefit the global e-bikes market in the coming months and years.

The upsurge in the demand can be attributed to user awareness regarding air pollution, technological advancements, and rising investments by government authorities to develop electric vehicles. Advanced batteries, compact, and lightweight mid-drive motors, and chains with improved durability are trending in the e-bikes market.

Pedal Assist, one of the segments analyzed in the report, is projected to grow at a 7.3% CAGR to reach US$32.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Throttle segment is readjusted to a revised 5.4% CAGR for the next 7-year period.

This segment currently accounts for a 12.3% share of the global Electric Bikes market. E-bikes have witnessed growth in the pedal-assist segment because of the convenience of using both the motor as well as the pedals while riding. Pedal assisted electric cycle known as Pedelec offers many benefits such as saving money, improving fitness, helping carry heavy loads easily, providing ease of travelling long distances and are well suited for recreational purposes such as climbing hills.

Additionally, pedal-assist offers riders the option to choose and set the driving mode to low, medium, or high assist as and when needed to efficiently utilize electricity, further helping grow the share of the segment. The throttle-assist electronic bicycles are also gaining acceptance owing to the capacity for long-distance travel without inducing fatigue and simpler riding experience.

Manufacturers are continuously investing in research and development to create improved technologies for electronic bicycles so as to improve efficiency and increase share in the market. The increased costs related to the purchase of electronic bicycles and the restricted driving range of such vehicles are some of the concerns that are constricting the e-bike current market size.

Limited charging infrastructure and long charging sessions for e-bikes are some of the factors that further impede growth in the market. Nevertheless, market players are responding to the concerns by installing fast-charging technologies in e-bikes so that riders can charge bikes much quicker and ride longer distances.

Governments throughout the world have enacted several e-bike related regulations and policies for better safety. For example, the Federal Motor Vehicle Safety Act limits e-bikes with a 500-watt motor to a top speed limit of 32 kmph. The law helps riders shun over-acceleration and hence safeguard the riders as well as the surroundings.

What`s New for 2022?

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS (Total 196 Featured)

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/cg4rn4

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