Global e-Bike Market to reach US$ 56,212.3 Mn by end of 2028, Says Coherent Market Insights

SEATTLE, Oct. 22, 2021 /PRNewswire/ -- E-Bikes are basically a modernized version of what was already available years ago. The original electric scooter was a motorized scooter with one wheel, but the e-bikes of today have two or even three wheels and they often have four wheels. The difference between a scooter, moped, and e-bikes is in their operational requirements, prices, styles, benefits, etc. The main difference is that an e-bikes main purpose is to act as a bicycle, where a scooter is primarily used for traveling short distances. You can use the e-bikes for longer distance travel, but it would probably be at a slower rate than you could do on a standard bicycle, without the motorization.

The global e-bike market is estimated to account for 56,212.3 Mn in terms of value by the end of 2028.

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Market Drivers:

Launch of e-bikes is expected to propel growth of the global e-bike market over the forecast period. For instance, in August 2021, Harley-Davidson launched Seria 1 e-bikes in Europe and the US.

Moreover, R&D in light electric vehicles to address climate change is also expected to aid in growth of the market. For instance, in September 2021, LEVA-EU, a non-profit organization, commissioned research from the German Aerospace Centre to examine the potential of light electric vehicles to address climate change.

Market Opportunities:

Emergence of Covid-19 is expected to boost demand for electric bikes, thereby offering lucrative growth opportunities for players in the global e-bike market. For instance, globally, as of 6:08pm CEST, 12 October 2021, there have been 237,655,302 confirmed cases of COVID-19, including 4,846,981 deaths, reported to WHO. As of 10 October 2021, a total of 6,364,021,792 vaccine doses have been administered. Post pandemic, the value of sustainable and cost-efficient vehicles has risen with the demand for social distancing and the never ending need to commute.

Moreover, R&D in safety of light electric vehicles is also expected to aid in growth of the market. For instance, in August 2021, Royal Society for the Prevention of Accidents and See.Sense, a cycling technology company, with funding from Department for Transport, conducted new research to enhance safety of cyclists.