Increase awareness towards environment, stringent government regulations, and rising fuel prices are expected to drive the growth of the e-bike market
The global e-bike market was valued at USD 18,241.2 million in 2018 and is expected to reach USD 34,864.3 million in 2026, growing at a CAGR of 8.3% during the forecast period.
According to the International Nickel Study Group, China is the largest exporter for the e-bikes and related component. For instance, Europe imports nearly one-third of the e-bikes, which are primarily from China. Furthermore, China, Japan, Taiwan, and Vietnam are the major exporting countries in the global e-bikes market.
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Considering the current scenario, the cost of the e-bikes are primarily driven by the growth of the market. The price for the e-bikes widely varies from region to region. For instance, the average selling price (ASP) of e-bikes was USD 815 in 2014, which was USD 1,546 in Western Europe. However, the ASP of e-bikes in China was only USD 167, which is the reason for the global leading exporter for the e-bikes. Moreover, the increase in government initiatives to regulate the e-bikes and growth of the bike-sharing industry is expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years.
However, the high cost of e-bikes and underdeveloped aftermarket services are expected to hamper the growth of the global e-bike market during the forecast period. Moreover, the cost of the batteries and raw material costs for the e-bikes are the prime challenges in the global market throughout the forecast period.