North American E-Bike Market Expected To Reach $1.62 Billion By 2027, Globally $92 Billion by 2029
September 14, 2022 at 08:55 AM EDT
Palm Beach, FL – September 14, 2022 – FinancialNewsMedia.com News Commentary – E-bikes are bicycles with a battery-powered assist that comes via pedaling and, in some cases, a throttle. E-bikes are bicycles augmented with an electric motor that makes the ride easier. Owing to the COVID-19 pandemic, micro-mobility turned into an essential transportation service. After an initial slump in e-bike sales during lockdowns, the demand for e-bikes skyrocketed, as various dealers in the United States reported more than a 100% increase in sales year-over-year. Governments are investing in bike sharing programs and bike lanes and more pedestrian-friendly streets as part of major initiatives to increase transportation options, enhance road safety, and improve the environment. All these developments are driving the market’s growth. Fortune Business Insights projected Globally the E-Bike market is projected to reach $92 Billion by 2029 whereas a report from Mordor Intelligence said that the North American e-bike market alone is expected to reach USD $1.62 billion by 2027, registering a CAGR of 12.51% during the forecast period (2022 – 2027). The report said: “Electric transportation is not limited only to four wheels as e-bikes are experiencing incredible growth in sales, not only in the European countries but also in the United States, owing to technological advancements in battery packs and drive motors and e-bike sharing. Active Companies in the markets today include American Rebel Holdings, Inc. (NASDAQ: AREB), Volcon Inc. (NASDAQ: VLCN), Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), Canoo (NASDAQ: GOEV), Clarus Corporation (NASDAQ: CLAR).
The article continued: “E-cargo bikes are gaining traction in major cities in the region, as leading logistics companies like DHL Express, Fed-Ex, and UPS are employing e-bikes for their last-mile delivery. These electrically-assisted cycles, which can carry around goods ranging in size from 400 pounds to 800 pounds, are also in use in several pilot projects in US cities. The pedal-assisted segment is expected to dominate the market during the forecast period. Pedal-assist is an operating mode on an electric bike, where once it is activated, the motor kicks in while the rider is pedaling. It is designed to help the rider pedal easier and has varied settings, allowing the users an effortless ride at the desired speed. The major players in the market are adopting various growth strategies, such as partnerships and collaborations, to capture most of the market share. Moreover, product launches are expected to make the regional market more competitive in the pedal-assisted segment.”
American Rebel Holdings, Inc. (NASDAQ: AREB) BREAKING NEWS: American Rebel to Enter the E-Bike Business American Rebel Holdings, Inc. – America’s Patriotic Brand (the “Company”) announces signing a letter of intent with Deerfield, Florida based Sierra E-Life, a full-service USA manufacturer of E-Bikes.
“We are very excited to diversify our product offerings, thereby enhancing American Rebel as a lifestyle brand, by entering the futuristic, technology-savvy market of E-Bikes,” said American Rebel CEO Andy Ross. “We think the E-Bike market is ready for the E-Bike with an attitude! American Rebel’s grit, style and patriotic appeal will carry through to every product we design and put the American Rebel name on.”
American Rebel, in collaboration with Sierra E-Life, has designed three distinct E-Bike models: the Patriot 500, the Freedom 750 and the Rebel 1000. The Patriot 500, the Freedom 750 and the Rebel 1000 are projected to be Made in the USA with global components.
“Sierra E-Life is excited to work with Andy Ross in the production of their American Rebel brand of E-Bikes,” said Robert Provost, CEO of Sierra E-Life. “We believe the bikes are the perfect fit for the American Rebel Patriotic market.” CONTINUED… Read this full release for American Rebel at: www.americanrebel.com/investor-relations
Other recent developments in the markets include:
Volcon Inc. (NASDAQ: VLCN), the first all-electric, off-road powersports company, recently announced that it has officially entered into the e-bike market with the launch of its class 2 e-bike, the Volcon Brat.
From the engineers behind the revolutionary Stag and the legendary Grunt, comes a bike built for any adventure, on or off road. Built like a motorcycle, the Brat integrates Volcon’s unique design elements, utilizing the iconic exo-arch frame that mirrors the same design of Volcon’s Grunt and Stag.
“While our brand was built on the dirt, we have a passion for all things performance and the Brat meets our expectations. We set out to enter the market with not only a high-performance machine, but a bike that had style as well. The e-Bike market is saturated with lookalike products, and we believe the Brat stands out from the crowd in both looks and performance,” said Jordan Davis, CEO of Volcon. “We believe the strong growth in the segment is a unique opportunity to offer a fresh product, grabbing the attention of on-road e-Bike enthusiasts. The proverbial leap from the Brat to the Grunt isn’t far. If you can ride the Brat, you can ride our Grunt, meaning as your riding style changes and experience progresses, we’ll have the product for you.”
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, recently provided a business update as it works to raise additional capital and launch the FF 91.
The Company’s Factory California, in Hanford, California, has made continued progress in a challenging macro environment, and all equipment required for the Start of Production (“SOP”) is on site. Certain equipment needed to fully ramp production is currently scheduled to arrive later this year, as anticipated, and is not expected to materially affect the timing or rate of the production ramp up. With the equipment on site, Faraday Future has made substantial progress with equipment installation in vehicle manufacturing areas of the factory. “The ieFactory California team is producing high-quality production-intent vehicles for testing and validation, and I am very pleased to see the progress we have made readying the production area for SOP. I want to thank our team at Hanford and our outstanding contractors. Together we are building a truly world-class, luxury automotive plant,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future.
Canoo (NASDAQ: GOEV) & Walmart (WMT) InHome recently launched advanced deliveries to finalize their unique configuration for their Lifestyle Delivery Vehicles (LDV) order within two weeks of signing an agreement to purchase 4,500 vehicles. Canoo LDV’s were deployed for real world deliveries in a 7-days-a-week program in the Dallas Fort Worth metroplex (DFW). InHome delivery is an optional add-on for Walmart+ members offering unlimited delivery from Walmart stores to their door and beyond.
“It’s been awesome to work with Walmart’s highly experienced team to rapidly deploy our LDV’s in real world use cases to finalize a configuration for Walmart,” said Tony Aquila, Investor, Chairman & CEO at Canoo. “Our LDV has been engineered to enable a wide range of package deliveries, including refrigerated items, groceries and general merchandise – and do it efficiently, emission free and with a high level of driver comfort and ergonomics. And we have been turning a lot of heads in the neighborhoods when driving by in our uniquely identifiable vehicles.”
Clarus Corporation (NASDAQ: CLAR), a global company focused on the outdoor and consumer enthusiast markets, recently reported financial results for the second quarter ended June 30, 2022.
“Clarus’ ‘Super Fan’ brands continued to perform at a high level in the second quarter,” said Clarus President John Walbrecht. “Our Precision Sport segment delivered another record quarter as our brands’ premium positioning and product innovations have paved the way for continued market share gains. Demand trends in our Outdoor segment remained strong, led by key Black Diamond categories of apparel, headlamps, trekking poles, and core climbing equipment. Within our Adventure segment, Rhino-Rack continued to experience sales momentum in North America, a market we believe is 10-times the size of its home markets of Australia and New Zealand.
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