ASEAN E-Bike Market Size

ASEAN E-Bike Market Analysis

The ASEAN e-bike market is valued at USD 51.79 million in 2021 and is expected to reach USD 85.15 million in value by 2027 at a CAGR of 9.69% during the forecast period.

The electric bike (e-bike) market was positively impacted by COVID-19 because commuters mostly avoided public transportation. E-bikes are being used as a safer, less expensive, and more convenient alternative to public transportation. Due to social-distancing guidelines and government restrictions on public transportation, bicycles became the preferred mode of daily transportation. Despite the easing of restrictions in the post-pandemic period, sales were sluggish during the initial pandemic phase.

Over the long-term, one of the main factors driving the expansion of the electric bike (e-bike) market is the rise in government initiatives to promote the use of electric bikes. These bicycles are regarded as an eco-friendly and effective commute option. The expansion of the market is sped up by the rising preference of consumers for electric or e-bikes. Due to their smaller size, health benefits, and higher speed with less effort, these bikes are widely used. The market is further influenced by the region's growing tourism industry.Electric bikes are in high demand as a result of the rising number of tourists and their impact on traffic.

Additionally, the e-bike market in ASEAN region is also positively impacted by an increase in disposable income, expansion of the e-bike manufacturers in South-East Asia are the growing demand for eco-friendly modes of transportation, government initiatives to reduce emissions, and the growing traffic congestion in major cities.