LAMEA Electric Bike Market By Drive Mechanism (Hub Motor, Mid-drive and Others), By Battery Type (Lithium ion (Li-ion), Lead Acid and Others), By Product (Scooter/Motorcycle, Pedelecs, Throttle on Demand and Speed Pedelecs), By Country, Industry Analysis and Forecast, 2020 - 2026
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The Latin America, Middle East, and Africa Electric Bike Market would witness market growth of 11.9% CAGR during the forecast period (2020-2026). In the last few years, one of the significant concerns for governments & environmentalists is the surge in carbon emission by fuel combustion on a world scale. This, as a result, fuels the demand for electric vehicles around the world, hence contributing to the growth of the overall market.
Moreover, the popularity of electric bikes has witnessed a spike due to the increasing fuel prices at the global level, rising pollution, and traffic congestion, particularly in urban regions. Further, inflated maintenance & running cost of fuel vehicles contribute to the switch in inclinations towards an electric bike in a day-to-day commute, which, as a result, boosts the E-bikes market growth.
E-bikes are less costly as compared to cars, do not need a license, and can be utilized on available bicycling infrastructure. The global market would witness bright growth prospects due to the quick urbanization & low inclination of consumers to utilize cars owing to high traffic congestion. Additionally, governments of several countries aim to create the infrastructure for e-bikes, including bicycle tracks & public charging stations with the preference of consumers toward e-bikes.
The Brazil market dominated the LAMEA Lead Acid Electric Bike Market by Country in 2019, thereby, achieving a market value of $428.9 million by 2026. The Argentina market would witness a CAGR of 11.4% during (2020 - 2026). Additionally, The UAE market is exhibiting a CAGR of 10.7% during (2020 - 2026).
The Scooter/Motorcycle market dominated the South Africa Electric Bike Market by Product in 2019, and would continue to be a dominant market till 2026. The Pedelecs market is experiencing a CAGR of 11.7% during (2020 - 2026). The Throttle on Demand market is estimated to grow at a CAGR of 14.7% during (2020 - 2026).
Based on Drive Mechanism, the market is segmented into Hub Motor, Mid-drive and Others. Based on Battery Type, the market is segmented into Lithium ion (Li-ion), Lead Acid and Others. Based on Product, the market is segmented into Scooter/Motorcycle, Pedelecs, Throttle on Demand and Speed Pedelecs. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Mahindra & Mahindra Limited (Mahindra Group), Yamaha Motor Co., Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Derby Cycle AG (Pon Holdings B.V.), Fuji-ta Bicycle Co., Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., and Wuxi Truckrun Motor Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Drive Mechanism
- Hub Motor
By Battery Type
- Lithium ion (Li-ion)
- Lead Acid
- Throttle on Demand
- Speed Pedelecs
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Accell Group
- Mahindra & Mahindra Limited (Mahindra Group)
- Yamaha Motor Co., Ltd.
- Giant Manufacturing Co. Ltd.
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Derby Cycle AG (Pon Holdings B.V.)
- Fuji-ta Bicycle Co., Ltd.
- Trek Bicycle Corporation
- Tianjin Golden Wheel Group Co., Ltd.
- Wuxi Truckrun Motor Co., Ltd.
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