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.
Free Valuable Insights: Electric Bike Market in LAMEA is expected to register a CAGR of 11.9% during the forecast period (2020-2026)
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.
By Drive Mechanism
By Battery Type
By Product
By Country
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