The global solar e-bike market size was US$ 1.6 billion in 2021. The global solar e-bike market size is estimated to reach US$ 5.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 13.7% during the forecast period from 2022 to 2030.
The solar e-bike is an automobile that operates solar power as its immediate energy resource. These bikes mainly use solar technology including battery packs, solar panels, and nano solar technology (solar cells) to hold the motor working. These cells transform sunlight into the power needed to fuel up the battery of the vehicle. The powering up occurs when photons strike the photovoltaic cells and exhilarate the electrons, forcing them to rush around and create an electric current.

Factors Influencing Market Growth

? The use of solar e-bike applications in various industries like logistics and e-bike rental assistance is anticipated to drive the expansion of the overall market growth.
? Factors such as positive government regulations and policies to promote the usage of solar e-bikes, a rise in fuel prices, and an increase in interest in cycling as a wellness and recreational exercise are anticipated to propel the overall market expansion.
? High investment and maintenance fees of solar e-bikes and low working efficiency as compared to traditional bikes are the elements that impede the overall market expansion.

Effect of the COVID-19 Pandemic

COVID-19 had a severe impact on the expansion of the overall market. Governments of various areas have declared complete lockdown and provisional shutdown of sectors, thereby badly influencing global production and sales. However, due to the pandemic, commuters are mainly ignoring the service of public transportation and solar e-bikes are regarded as a convenient, safe, and inexpensive option to public transportation. Also, the pandemic has transformed the manner individuals commute, and bicycling has risen across the globe.

Regional Analysis

North America is anticipated to maintain a significant market share in the overall market. The rising acquisition of study and growth methods, the use of resolutions, and rising fuel prices in the region. Thus, driving the overall market growth in the region.

Leading Competitors
The prominent players in the global solar e-bike market are:
? Kvaern
? Yamaha Motor
? Yadea Group Holdings
? Trek Bicycle Corporation
? SPECIALIZED BICYCLE COMPONENTS
? Royal Dutch gazelle
? Merida Industry
? KONA BICYCLE COMPANY
? OLYMPUS BIKES
? Accell Group
? Others
Segmentation Analysis
The global solar e-bike market segmentation focuses on Motor Type, Battery Type, Application, Consumer Segment, Power Output, and Region.
Segmentation on the basis of Motor Type
? HUB Motor
? Mid Drive

Segmentation on the basis of Battery type
? Lead-acid
? Others
? Lithium-ion (Li-ion)

Segmentation on the basis of Application

? Sports
? Fitness
? Daily Commute

Segmentation on the basis of Consumer Segment
? Urban
? Rural
Segmentation on the basis of Power Output
? 250W & Less Than 250W
? Above 250W

Segmentation on the basis of End User

? Eye Clinics
? Hospitals
? Others

Segmentation on the basis of Region

? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America