The latest report by IMARC Group, titled “Asia Pacific E-Bike Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the Asia Pacific e-bike market size reached US$ 12.6 Billion in 2021. Electronic bikes or e-bikes are standard bicycles that are equipped with an electric motor, battery and drivetrain. The integrated electric motor drive mechanism and battery helps in producing power for assisting propulsion. E-bikes are considered an ideal substitute for scooters, cars, and public transportation as they efficiently tackle traffic congestion owing to their small size. They also offer the ability to attain higher speed with less effort and health benefits due to peddling. They usually range from electric bikes with a small motor to e-bikes driven with a throttle. At present, e-bikes are gaining popularity among individuals due to their ability to provide a cost-effective and emission-free commuting option.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Asia Pacific E-Bike Market Trends:
The market is primarily driven by the growing consciousness about the environment and rising inclination toward cycling as a recreational activity that promotes health and fitness. In addition, e-bikes help to improve cardiovascular fitness, muscle strength and flexibility, and reduce the risk of stress and depression, thus fueling the market growth. Furthermore, governments across the Asia Pacific region are implementing regulations to encourage the use of electric bikes to reduce the carbon footprint and promote efficient solutions for daily commute. Furthermore, there has been an increasing inclination toward the development of e-bike infrastructure that has resulted in extensive investments by key manufacturers. This, along with advancements in battery technology, is also creating a positive outlook for the market across the region. Looking forward, the market value is expected to reach US$ 19.1 Billion by 2027, exhibiting a CAGR of 7.0% during the forecast period (2022-2027).
- Based on the mode, the market has been segmented into throttle and pedal assist.
- On the basis of the motor type, the market has been classified into hub motor, mid drive, and others.
- The market has been categorized based on the battery type into lead acid, lithium ion, nickel-metal hydride (NiMH), and others.
- On the basis of the class, the market has been segregated into class I, II, and III.
- Based on the design, the market has been bifurcated into foldable and non-foldable.
- The market has segmented based on the application into mountain/trekking bikes, city/urban, cargo, and others.
- Region-wise, the market has been divided into China, Japan, India, South Korea, Australia, Indonesia, and others.
- The competitive landscape of the market has been examined in the report, with the detailed profiles of the key players operative in the industry.
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