The e-bike battery market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The word 'e-bike' applies to bicycles with compact and rechargeable electric motor batteries to support the cyclist's power source. The market growth is further driven by increasing urbanization, rapid economic development, increased tourist operation, and high fuel costs. Moreover, the rising demand for e-bikes as an environmentally friendly and effective transportation option is driving the market growth.
The market is segmented on battery type into the lead-acid battery, li-ion battery, and NiMH battery, out of which the lead-acid battery segment is expected to lead the market owing to its low cost, durability, and maintenance features.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period due to many manufacturers in the region. The region is anticipated to be the fastest-growing market due to increasing urbanization and increasing demand for regular vehicle alternatives such as e-bikes. CLICK TO DOWNLOAD SAMPLE REPORT
The global e-bike battery market is further classified on the basis of region as follows:
Our in-depth analysis of the global e-bike battery market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Exemption from standard traffic rules and guidelines and rising demand for e-bikes are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Decline in oil prices and maintenance of batteries are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the significant business opportunities for the vendors in the region.
The major players dominating the e-bike battery market are LG Chem Ltd., OptimumNano Energy Co. Ltd, Samsung SDI CO. LTD., ZHANGZHOU YOKU ENERGY TECHNOLOGY Co. Ltd., and Kingbo Power Technology Co. Limited among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by battery type, application and region.
With respect to battery type, the lead-acid battery segment is expected to lead the market owing to its low cost, durability, and maintenance features.
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