A new report is predicting big things for the global electric bike market, expecting a CAGR growth rate of 8.9% to 2026.
The e-Bike market will reach US$ 32.83 billion by 2026, up from US$ 16.88 in 2018, according to Verified Market Research (VMR)
While that total includes pedelecs, throttle, scooter and motorcycle, it is the pedelec market that is expected to be the largest of those. The report also predicts market growth to be largely in the ‘cycling as a recreational activity’ segment.
The Asia Pacific region is projected to account for the largest share in the global market and see the largest growth rate globally, singling out China in particular.
While the totals in VMR’s report vary wildly between reports from different market research businesses – FMI reckoned the e-Bike market will be a more conservative $6.1 billion by 2027 – this latest report is one of a number that predicts significant expansion of the e-Bike market.
You can drill into the detail of VMR’s report by purchasing the full set of data.