Market by Product, Drive Mechanism, Application, Battery, Power, and Regional Outlook | Forecast 2022-2028
Electric bikes can be defined as battery-assisted or battery-driven
two-wheelers.
According to Triton Market Research’s report, the Global E-Bike Market is likely to grow with a CAGR of 10.12% in the forecast period 2022-2028. The market was valued at $25239.55 million in 2021, and is expected to reach a revenue of $49731.01 million by 2028. In terms of volume, the global e-bike sales in 2021 were 31411 thousand units and are estimated to reach 61161 thousand units by 2028, growing with a CAGR of 9.97%.
In this report, segways and kick scooters that are ridden standing on the vehicle are excluded. The report, however, covers e-bicycle (pedelecs and throttle on demand), e-scooters, and e-motorcycles.
Click here to check out our blog on the Global E-Bike Market
MARKET PERFORMANCE – DRIVERS,
CHALLENGES, AND TRENDS
Increased demand for eco-friendly
transportation, favorable government incentives, and increased preference for
e-bikes are the key drivers supporting the market’s growth. With the growing environmental concerns,
governments in several countries are incentivizing and promoting the use of
electric mobility. Electric bicycles,
scooters, and motorbikes have received a lot of attention from governments as
reliable and efficient light motor vehicles (LMVs) that help reduce carbon
emissions.
For e-bikes specifically, governments are offering incentives, promoting
manufacturing, and helping develop bicycle infrastructure. Moreover, the
consumer focus on e-bikes has been increasing. The popularity of electric
bicycles has significantly increased across every continent in response to
design and performance gains as well as economic or environmental concerns.
Moreover, a shift in preference for electric bikes as an easier and quicker
mode of transportation through traffic for daily commute boosts the market growth.
Hence, e-bikes serve as an efficient solution that reduce traffic congestion
and curb emissions.
The high cost of e-bikes and product recalls
& problems related to distribution are significantly hampering the market’s
growth. E-bikes are
becoming more expensive compared to traditional motorbikes due to the expenses
related to design, wiring, motor or mini engine, and battery power. The cost of
an e-bike majorly depends on its grade and quality. The high costs of new
e-bike batteries and their replacement also hinder the studied market’s growth,
as people prefer spending less money purchasing new e-bike batteries. Moreover,
neither mass retailers nor bike shops presently work towards distributing
e-bikes. This creates challenges for the e-bike market’s growth.
The emergence of cycling as a fitness trend
creates an overall positive outlook for the market. Presently, consumers have become more
health-conscious due to work-related stress and a sedentary lifestyle. Cycling
is considered a healthy and low-impact activity with several physical and
mental health benefits, such as building endurance, alleviating stress,
enhancing muscle strength, and improving cardiovascular fitness. Thus, the
growing interest in cycling as a fitness and recreational activity has increased
the demand for e-bikes, thereby fostering the market growth.
Report scope can be customized per your requirements. Request For Customization
KEY GEOGRAPHIES COVERED:
• North America:
The United States and Canada
• Europe: The
United Kingdom, Germany, France, Spain, Italy, the Netherlands, Belgium, and
Rest of Europe
• Asia-Pacific:
China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia &
New Zealand, and Rest of Asia-Pacific
• Latin America
• Middle East and
Africa
SEGMENTATION ANALYSIS –
E-BIKE MARKET:
• Market by Product:
o Pedelecs
o Throttle
on Demand
o Scooter
o Motorcycle
Pedelecs leads the market by product. In the pedelec class of electric bikes, the
drive system can be activated by the action of pedaling to reach a higher
speed. This class has been categorized as a motor vehicle in many parts of
Europe, thus requiring special licensing, along with an identification plate.
Here, the maximum speed has been set at 28 mph and is restricted to be used on
private property or roads. In the United States, unlike in Europe, this class
of bikes is considered a low-speed electric bicycle and does not require
special licensing.
• Market by Drive Mechanism:
o Hub
Motor
o Mid-drive
Mid-drive e-bikes are is expected to show the
fastest growth in the market by drive mechanism. The mid-drive system is designed such that the
motor is mounted on or near the bottom bracket of the e-bicycle. Because the
motor is placed at the cranks, it offers a better weight distribution than hub
motors, resulting in a lower center of gravity and a more balanced ride.
Mid-drive e-bikes also make minor repairs easier and are compatible with any
wheel type because the electric components are mounted on the frame.
• Market by Application:
o City/Urban
o Trekking
o Cargo
• Market by Battery:
o Lithium-Ion
o Lead-Acid
• Market by Power:
o Less
than & Equal to 250 W
o Above
250 W
COMPETITIVE LANDSCAPE:
The competitive landscape helps dive into data
about the key players in the e-bike market. The strategic initiatives for each
of the companies considered have been covered in detail.
Partnerships (March 2022):
Ola Electric and StoreDot
Ola Electric formed a strategic partnership with StoreDot, an Israeli
business that specializes in ultra-fast charging technologies. Ola Electric
will gain access to StoreDot’s cutting-edge XFC battery technology, which can
charge a battery from 0 to 100% in 5 minutes.
Product Launch (May 2021):
Hero Lectro unveiled the Hero Lectro WINN, its first purpose-built cargo
vehicle, an e-cycle designed specifically to meet the expanding needs of
last-mile e-commerce delivery in India.
Business Expansions (January
2021): Silence Urban Ecomobility
Silence Urban Ecomobility increased its presence in the United Kingdom.
In Solihull, Silence established its ‘urban ecomobility’ headquarters, a
training center, and the UK’s first retail store.
Key Benefits of the Report:
● Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
● Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
● The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
● The scope of the market report comprises the current scenario of
the global E-Bike market, along with the detailed overview of the industry
outlook, market dynamics, segmentation analysis, regional outlook, and
competitive landscape for the period 2022-2028.
FAQs:
Q 1) Which region captures
the largest share in the global e-bike market?
Asia-Pacific captures the largest market share in the global e-bike
market.
Q 2) Does the report provide
information on volume as well?
Yes, we have covered the report in volume terms (thousand units) as
well. However, the volumetric data is available only for regions and countries
and not for segments.
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VIEW REPORT1. GLOBAL
E-BIKE MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY
INSIGHTS
2.1.1. INCREASED
INVESTMENTS IN BICYCLING INFRASTRUCTURE & BATTERY TECHNOLOGY
2.1.2. GROWING
AFFORDABILITY DUE TO THE E-BIKE SHARING SYSTEM
2.1.3. CYCLING
AS A FITNESS TREND IS ON THE RISE
2.2. IMPACT
OF COVID-19 ON THE E-BIKE MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF SUPPLIERS
2.3.4. BARGAINING
POWER OF BUYERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. CONTRACTS
& PARTNERSHIPS
2.6.2. BUSINESS
EXPANSIONS & DIVESTITURES
2.6.3. ACQUISITIONS
& MERGERS
2.6.4. NEW
PRODUCT LAUNCHES & INVESTMENTS
2.7. MARKET
DRIVERS
2.7.1. INCREASED
DEMAND FOR ECO-FRIENDLY TRANSPORTATION
2.7.2. FAVORABLE
GOVERNMENT INCENTIVES
2.7.3. INCREASED
PREFERENCE FOR E-BIKES
2.8. MARKET
CHALLENGES
2.8.1. HIGH
COST OF E-BIKES AND PRODUCT RECALLS
2.8.2. PROBLEMS
RELATED TO DISTRIBUTION
2.9. MARKET
OPPORTUNITIES
2.9.1. INCREASED
USAGE OF E-BIKES FOR DELIVERY SERVICES
2.9.2. E-BIKES
AS A SOLUTION TO RISING FUEL PRICES
3. GLOBAL
E-BIKE MARKET – BY PRODUCT
3.1. PEDELECS
3.2. THROTTLE
ON DEMAND
3.3. SCOOTERS
3.4. MOTORCYCLES
4. GLOBAL
E-BIKE MARKET – BY DRIVE MECHANISM
4.1. HUB
MOTOR
4.2. MID-DRIVE
5. GLOBAL
E-BIKE MARKET – BY APPLICATION
5.1. CITY/URBAN
5.2. TREKKING
5.3. CARGO
6. GLOBAL
E-BIKE MARKET – BY BATTERY
6.1. LITHIUM-ION
6.2. LEAD-ACID
7. GLOBAL
E-BIKE MARKET – BY POWER
7.1. LESS
THAN & EQUAL TO 250 W
7.2. ABOVE
250 W
8. GLOBAL
E-BIKE MARKET – REGIONAL OUTLOOK
8.1. NORTH
AMERICA
8.1.1. MARKET
BY PRODUCT
8.1.2. MARKET
BY DRIVE MECHANISM
8.1.3. MARKET
BY APPLICATION
8.1.4. MARKET
BY BATTERY
8.1.5. MARKET
BY POWER
8.1.6. TOP 5
PLAYERS IN NORTH AMERICA
8.1.7. COUNTRY
ANALYSIS
8.1.7.1. THE
UNITED STATES
8.1.7.1.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN THE UNITED STATES
8.1.7.2. CANADA
8.1.7.2.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN CANADA
8.2. EUROPE
8.2.1. MARKET
BY PRODUCT
8.2.2. MARKET
BY DRIVE MECHANISM
8.2.3. MARKET
BY APPLICATION
8.2.4. MARKET
BY BATTERY
8.2.5. MARKET
BY POWER
8.2.6. TOP 5
PLAYERS IN EUROPE
8.2.7. COUNTRY
ANALYSIS
8.2.7.1. THE
UNITED KINGDOM
8.2.7.1.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN THE UNITED KINGDOM
8.2.7.2. GERMANY
8.2.7.2.1. REGULATIONS
FOR THE E-BIKE MARKET IN GERMANY
8.2.7.3. FRANCE
8.2.7.3.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN FRANCE
8.2.7.4. ITALY
8.2.7.4.1. INCENTIVES
FOR THE E-BIKE MARKET IN ITALY
8.2.7.5. SPAIN
8.2.7.5.1. INVESTMENTS
& INCENTIVES FOR THE E-BIKE MARKET IN SPAIN
8.2.7.6. BELGIUM
8.2.7.6.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN BELGIUM
8.2.7.7. THE NETHERLANDS
8.2.7.7.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN THE NETHERLANDS
8.2.7.8. REST
OF EUROPE
8.3. ASIA-PACIFIC
8.3.1. MARKET
BY PRODUCT
8.3.2. MARKET
BY DRIVE MECHANISM
8.3.3. MARKET
BY APPLICATION
8.3.4. MARKET
BY BATTERY
8.3.5. MARKET
BY POWER
8.3.6. TOP 5
PLAYERS IN THE ASIA-PACIFIC
8.3.7. COUNTRY
ANALYSIS
8.3.7.1. CHINA
8.3.7.1.1. REGULATIONS
FOR THE E-BIKE MARKET IN CHINA
8.3.7.2. JAPAN
8.3.7.2.1. REGULATIONS
FOR THE E-BIKE MARKET IN JAPAN
8.3.7.3. INDIA
8.3.7.3.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN INDIA
8.3.7.4. SOUTH
KOREA
8.3.7.4.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN SOUTH KOREA
8.3.7.5. INDONESIA
8.3.7.5.1. REGULATIONS
FOR THE E-BIKE MARKET IN INDONESIA
8.3.7.6. THAILAND
8.3.7.6.1. INCENTIVES
FOR THE E-BIKE MARKET IN THAILAND
8.3.7.7. VIETNAM
8.3.7.7.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN VIETNAM
8.3.7.8. AUSTRALIA
& NEW ZEALAND
8.3.7.8.1. REGULATIONS
& INCENTIVES FOR THE E-BIKE MARKET IN AUSTRALIA & NEW ZEALAND
8.3.7.9. REST
OF ASIA-PACIFIC
8.4. LATIN
AMERICA
8.5. MIDDLE
EAST AND AFRICA
9. COMPETITIVE
LANDSCAPE
9.1. ACCELL
GROUP
9.2. BMZ
GMBH
9.3. BROSE
FAHRZEUGTEILE SE & CO KG
9.4. DERBY
CYCLE
9.5. FUJI-TA
BICYCLE CO LTD
9.6. GIANT
MANUFACTURING CO LTD
9.7. JIANGSU
XINRI E-VEHICLE CO LTD
9.8. LG
CHEM
9.9. PANASONIC
CORPORATION
9.10. ROBERT
BOSCH GMBH
9.11. SAMSUNG
SDI CO LTD
9.12. SHIMANO
INC
9.13. GOLDEN
WHEEL GROUP
9.14. TREK
BICYCLE CORPORATION
9.15. QWIC
9.16. VANMOOF
9.17. STROMER
9.18. RIESE
& MÜLLER
9.19. YADEA
GROUP HOLDINGS LTD
9.20. NIU
INTERNATIONAL
9.21. SILENCE
URBAN ECOMOBILITY
9.22. HERO
ELECTRIC
9.23. VMOTO
LIMITED
10. METHODOLOGY
& SCOPE
10.1. RESEARCH
SCOPE & DELIVERABLES
10.2. SOURCES
OF DATA
10.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL E-BIKE MARKET,
REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: GLOBAL E-BIKE MARKET,
REGIONAL OUTLOOK, 2022-2028 (IN THOUSAND UNITS)
TABLE 3: MARKET ATTRACTIVENESS
INDEX
TABLE 4: VENDOR SCORECARD
TABLE 5: LIST OF CONTRACTS
& PARTNERSHIPS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: LIST OF ACQUISITIONS
& MERGERS
TABLE 8: LIST OF NEW PRODUCT
LAUNCHES & INVESTMENTS
TABLE 9: GLOBAL E-BIKE MARKET,
BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 10: GLOBAL E-BIKE
MARKET, BY DRIVE MECHANISM, 2022-2028 (IN $ MILLION)
TABLE 11: GLOBAL E-BIKE
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 12: GLOBAL E-BIKE MARKET,
BY BATTERY, 2022-2028 (IN $ MILLION)
TABLE 13: GLOBAL E-BIKE
MARKET, BY POWER, 2022-2028 (IN $ MILLION)
TABLE 14: GLOBAL E-BIKE
MARKET, REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 15: GLOBAL E-BIKE
MARKET, REGIONAL OUTLOOK, 2022-2028 (IN THOUSAND UNITS)
TABLE 16: NORTH AMERICA E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 17: NORTH AMERICA E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN THOUSAND UNITS)
TABLE 18: NORTH AMERICA E-BIKE
MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 19: NORTH AMERICA E-BIKE
MARKET, BY DRIVE MECHANISM, 2022-2028 (IN $ MILLION)
TABLE 20: NORTH AMERICA E-BIKE
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 21: NORTH AMERICA E-BIKE
MARKET, BY BATTERY, 2022-2028 (IN $ MILLION)
TABLE 22: NORTH AMERICA E-BIKE
MARKET, BY POWER, 2022-2028 (IN $ MILLION)
TABLE 23: TOP 5 PLAYERS IN
NORTH AMERICA
TABLE 24: REGULATIONS FOR THE
E-BIKE MARKET IN THE UNITED STATES
TABLE 25: ACTIVE INCENTIVES
FOR THE E-BIKE MARKET IN THE UNITED STATES
TABLE 26: REGULATIONS FOR THE
E-BIKE MARKET IN CANADA
TABLE 27: ACTIVE INCENTIVES
FOR THE E-BIKE MARKET IN CANADA
TABLE 28: EUROPE E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 29: EUROPE E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN THOUSAND UNITS)
TABLE 30: EUROPE E-BIKE
MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 31: EUROPE E-BIKE
MARKET, BY DRIVE MECHANISM, 2022-2028 (IN $ MILLION)
TABLE 32: EUROPE E-BIKE
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 33: EUROPE E-BIKE
MARKET, BY BATTERY, 2022-2028 (IN $ MILLION)
TABLE 34: EUROPE E-BIKE
MARKET, BY POWER, 2022-2028 (IN $ MILLION)
TABLE 35: TOP 5 PLAYERS IN
EUROPE
TABLE 36: ASIA-PACIFIC E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 37: ASIA-PACIFIC E-BIKE
MARKET, COUNTRY OUTLOOK, 2022-2028 (IN THOUSAND UNITS)
TABLE 38: ASIA-PACIFIC E-BIKE
MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)
TABLE 39: ASIA-PACIFIC E-BIKE
MARKET, BY DRIVE MECHANISM, 2022-2028 (IN $ MILLION)
TABLE 40: ASIA-PACIFIC E-BIKE
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 41: ASIA-PACIFIC E-BIKE
MARKET, BY BATTERY, 2022-2028 (IN $ MILLION)
TABLE 42: ASIA-PACIFIC E-BIKE
MARKET, BY POWER, 2022-2028 (IN $ MILLION)
TABLE 43: TOP 5 PLAYERS IN THE
ASIA-PACIFIC
TABLE 44: ARAI REGULATIONS FOR
BATTERY-OPERATED VEHICLES
TABLE 45: STATEWISE INCENTIVES
FOR ELECTRIC TWO-WHEELERS IN INDIA
FIGURE 1: PORTER’S FIVE FORCES
ANALYSIS
FIGURE 2: GLOBAL E-BIKE
MARKET, BY PRODUCT, 2021 (AVERAGE PRICE: $/UNIT)
FIGURE 3: GLOBAL E-BIKE
MARKET, BY PRODUCT, 2021 & 2028 (IN %)
FIGURE 4: GLOBAL E-BIKE
MARKET, BY PEDELECS, 2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL E-BIKE
MARKET, BY THROTTLE ON DEMAND, 2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL E-BIKE
MARKET, BY SCOOTERS, 2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL E-BIKE MARKET,
BY MOTORCYCLES, 2022-2028 (IN $ MILLION)
FIGURE 8: GLOBAL E-BIKE
MARKET, BY DRIVE MECHANISM, 2021 & 2028 (IN %)
FIGURE 9: GLOBAL E-BIKE
MARKET, BY HUB MOTOR, 2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL E-BIKE
MARKET, BY MID-DRIVE, 2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL E-BIKE
MARKET, BY APPLICATION, 2021 & 2028 (IN %)
FIGURE 12: GLOBAL E-BIKE
MARKET, BY CITY/URBAN, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL E-BIKE
MARKET, BY TREKKING, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL E-BIKE
MARKET, BY CARGO, 2022-2028 (IN $ MILLION)
FIGURE 15: GLOBAL E-BIKE
MARKET, BY BATTERY, 2021 & 2028 (IN %)
FIGURE 16: GLOBAL E-BIKE
MARKET, BY LITHIUM-ION, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL E-BIKE
MARKET, BY LEAD-ACID, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL E-BIKE
MARKET, BY POWER, 2021 & 2028 (IN %)
FIGURE 19: GLOBAL E-BIKE
MARKET, BY LESS THAN & EQUAL TO 250 W, 2022-2028 (IN $ MILLION)
FIGURE 20: GLOBAL E-BIKE
MARKET, BY ABOVE 250 W, 2022-2028 (IN $ MILLION)
FIGURE 21: THE UNITED STATES
E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 22: CANADA E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: THE UNITED KINGDOM
E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: GERMANY E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: FRANCE E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: ITALY E-BIKE MARKET
2022-2028 (IN $ MILLION)
FIGURE 27: SPAIN E-BIKE MARKET
2022-2028 (IN $ MILLION)
FIGURE 28: BELGIUM E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: THE NETHERLANDS
E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: REST OF EUROPE
E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: CHINA E-BIKE MARKET
2022-2028 (IN $ MILLION)
FIGURE 32: JAPAN E-BIKE MARKET
2022-2028 (IN $ MILLION)
FIGURE 33: INDIA E-BIKE MARKET
2022-2028 (IN $ MILLION)
FIGURE 34: SOUTH KOREA E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: INDONESIA E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: THAILAND E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: VIETNAM E-BIKE
MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: AUSTRALIA & NEW
ZEALAND E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: REST OF
ASIA-PACIFIC E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: LATIN AMERICA
E-BIKE MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: MIDDLE EAST AND
AFRICA E-BIKE MARKET 2022-2028 (IN $ MILLION)