Report : South & Central America E-Bike Market Forecast to 2030 - Regional Analysis - by Battery Type (Lithium-Ion, Lithium-Ion Polymer, Lead Acid, and Nickel Metal Hydride), Motor Type (Hub Motor and Mid Motor), Class (Class-I, Class-II, and Class-III), and Mode (Pedal Assist Mode and Throttle Mode)
At 15.1% CAGR, the South & Central America E-Bike Market is Projected to be Worth US$ 944.16 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the South & Central America e-bike market was valued at US$ 306.92 million in 2022 and is expected to reach US$ 944.16 million by 2030, registering a CAGR of 15.1% from 2022 to 2030. Development of e-bikes using lightweight material and advanced smart systems and growth of outdoor sports and adventurous activities are among the critical factors attributed to the South & Central America e-bike market expansion.
Key players of e-bikes operating across the world are focused on developing lightweight vehicles for short-distance traveling in urban areas. The rising development of e-bikes with advanced motor systems and in-built smart app facilities will drive the e-bikes market growth in the coming years.
Thus, rising advancements and upsurging developments with in-built software applications-based lightweight e-bike is expected to boost the e-bike market during the forecast period.
On the contrary, high cost of e-bikes and requirement of huge capital investments in their manufacturing hampers the growth South & Central America e-bike market.
Based on battery type, the South & Central America e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held 66.7% share of the South & Central America e-bike market in 2022, amassing US$ 204.60 million. It is projected to garner US$ 658.08 million by 2030 to expand at 15.7% CAGR during 2022-2030.
In terms of motor type, the South & Central America e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held 76.2% share of the South & Central America e-bike market in 2022, amassing US$ 233.82 million. It is projected to garner US$ 729.84 million by 2030 to expand at 15.3% CAGR during 2022-2030.
Based on class, the South & Central America e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held 46.8% share of the South & Central America e-bike market in 2022, amassing US$ 143.52 million. It is projected to garner US$ 451.31 million by 2030 to expand at 15.4% CAGR during 2022-2030.
By mode, the South & Central America e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held 82.4% share of South & Central America e-bike market in 2022, amassing US$ 252.91 million. It is projected to garner US$ 759.11 million by 2030 to expand at 14.7% CAGR during 2022-2030.
Based on country, the South & Central America e-bike market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held 39.3% share of South & Central America e-bike market in 2022, amassing US$ 120.56 million. It is projected to garner US$ 347.45 million by 2030 to expand at 14.1% CAGR during 2022-2030.
Key players operating in the South & Central America e-bike market are Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd, among others.
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