The increased popularity of cycling as a leisure activity throughout the world is the key factor driving market expansion. This is mostly due to the numerous physical and mental health benefits connected with riding. Some of the benefits include less stress and depression, increased physical strength and flexibility, and enhanced cardiovascular fitness. The youthful population is growing interested in adventure sports, which is expected to increase demand for e-bikes throughout the projected period. In response to increased popularity, e-bike producers are focusing on product innovation as well as technology improvements such as the introduction of a SIM module that allows the e-bike to transfer data and information to and from the cloud without the use of a smartphone. These linked e-bikes have remote diagnostics, an anti-theft system, social media connectivity, integrated navigation, and an automated emergency cell. Rising worries about environmental deterioration and air pollution are driving regional growth. This has raised demand for e-bikes in most European nations, including the Netherlands, Germany, and Belgium, because e-bikes can be charged using solar power and emit less carbon.
According to Coherent Market Insights, the global E-Bike Market was valued at US$ 18,223.4 Mn in 2020 and is expected to reach US$ 39,489.5 Mn by 2028, exhibiting a CAGR of 10.4% between 2021 and 2028.
Market Leaders in the E-bike Industry:
1. Accell Group
Accel Group Holdings Limited, an investment holding company, provides electrical and mechanical engineering services in Hong Kong. The company engages in the supply, installation, and maintenance of mechanical ventilation and air-conditioning systems; drainage, water supply, swimming pool, and fountain systems; and electrical and control systems, as well as smart electrical control systems in buildings. The company was founded in 2000 and is headquartered in Kowloon, Hong Kong. On Monday 2022, The Accell Group announced an all-cash offer of €58 per share has been agreed upon in a deal with a consortium led by investment firm KKR and Teslin Alpine Acquisition.
2. Derby Cycle AG
Manufacturer of bicycles headqaurtered in Germany. The company manufactures bicycles under the brand names of Focus, Kalhoff, Raleigh, Univega and Rixe and makes bikes for road riding, mountain biking, triathlons, professional racing, cyclocross and electric-powered. Founded in 1988
3. Electric Bike Technologies LLC
Electric Bike Technologies LLC is a development, sales and marketing company specializing in high performance electric bicycles, electric bike motors, electric bike batteries, electric bike conversion kits and various other electric bicycle products. The company was founded in 2008, founded in Pennsylvania.
4. Giant Bicycles
Giant Manufacturing Co., Ltd., together with its subsidiaries, manufactures and sells bicycles, electric bicycles, and related parts worldwide. It operates through Bicycle, Materials, and others segments. The company offers on-road, x-road, off-road, youth, rider gear, bike gear, and service gear bicycles. It markets its products through approximately 12,000 retail stores. Giant Manufacturing Co., Ltd. was incorporated in 1972 and is headquartered in Taichung City, Taiwan.
5. Jiangsu Xinri E-Vehicle Co. Ltd.
Jiangsu Xinri E-Vehicle Co., Ltd. engages in the research and development, manufacture, and sale of electric vehicles in China. The company offers utility, high speed, moped, bicycle, and E-car related products. It also exports its products to approximately 100 countries and regions. Jiangsu Xinri E-Vehicle Co., Ltd. was founded in 1999 and is based in Wuxi, China.
6. Pedego
In September 2022, Pedego Electric Bikes, the #1 electric bike retailer in America with sixteen unique models and over 220 brick and mortar stores across North America, released a brand-new addition to their lineup of electric bikes. Founded in 2008, Pedego Electric Bikes is an electric bike brand headquartered in the California.
7. Stromer
Stromer AG develops and markets innovative e-bikes. The strength of the company lies in the development of and mechanical components, electric components, software, and the complete system integration. The company was founded in 2009. Headquartered in Switzerland. On 04-Apr-2022 Stromer said the acquisition will help expand its e-bike portfolio and become one of Europe's leading advanced mobility solution providers.
8. Superpedestrian, Trek
Super pedestrian, is a transportation robotics company based in Cambridge, Massachusetts, that develops electrified and AI technologies for micromobility vehicles. In July 2021, Electric scooter operator Superpedestrian has acquired Navmatic, a startup that helps micromobility operators locate vehicles and correct their movements in real time. In February 2022, Superpedestrian gets $125M to expand tech that corrects unsafe scooter riding
9. Yadea Technology Group Co. Ltd.
Yadea Group Holdings Ltd., an investment holding company, researches, develops, manufactures, distributes, and sells electric two-wheeled vehicles and related accessories in the People's Republic of China. The company offers electric scooters, electric bicycles, and batteries and chargers, as well as other electric two-wheeled vehicles parts. The company exports its products in 88 countries. Yadea Group Holdings Ltd. was founded in 2001 and is based in Causeway Bay, Hong Kong. On December 2022, Yadea , announced its 2023 national dealership promotion plan. As part of its goals towards worldwide expansion, Yadea's Ebike is recruiting regional agents and distributors in the United States to join the team with a Dealership Meeting being held during the upcoming CES from January 5-8 in Las Vegas.
*Definition - E-bikes, also known as electronic bicycles, are a sort of ordinary bicycle that includes a battery, electric motor, and transmission. The bike may be moved using a rechargeable battery or by pedalling. E-bikes are practical and easy to use for people of all ages
