Electric Bike Market overview
Electric bikes, also known
as e-bikes, have emerged as a popular and sustainable alternative to
traditional bicycles, revolutionizing the way people commute and enjoy
recreational cycling. These bikes are equipped with an electric motor and a
battery, providing riders with pedal-assist or full electric propulsion. The
integration of electric components assists cyclists in covering greater
distances with less effort, making commuting more accessible and reducing the
barriers to cycling for individuals of various fitness levels. Electric bikes
come in various styles, including city bikes, mountain bikes, and folding
bikes, catering to diverse preferences and intended uses.
Due to the shutdown, the
market experienced decreases in revenue. Still, with the government orders to
release the shutdown, the Electric Bike Market Size will attain normal CAGR and growth value. The
pandemic has made people decline the use of public vehicles are opting for
their vehicles to safeguard themselves from the virus infection. Electric Bike
are emerging as convenient, safe and affordable means of transport.
The growing popularity of electric bikes is attributed
to their eco-friendly nature, offering a low-carbon transportation option that
reduces reliance on traditional vehicles with internal combustion engines.
Commuters appreciate the ability to effortlessly navigate hills and cover
longer distances, while enthusiasts find joy in the flexibility that electric
assistance provides during recreational rides. As advancements in battery
technology continue, electric bikes are becoming more affordable, with improved
range and performance, contributing to the ongoing shift toward sustainable and
efficient modes of transportation in urban and rural settings alike.
Request Free Sample of Electric Bike Market Report
Health benefits for acquiring
bicycles in place of cars, such as improved blood sugar levels increased
cardiovascular endurance, are the prominent factors for the market growth. The
vehicle with low operation costs rising environmental costs fosters the Electric Bike Market Size. The high
purchase and ownership cost of Electric Bike could hinder the market growth in
the forecast period.
By 2025 the electric vehicle
will be the largest selling vehicle. The wide availability, reduction in
weight, low cost and minimal environmental impacts are some of the growth
factors provided by the electric bicycle. The use of small motors and the
availability of electric bikes are propelling the market growth. The bicycles
provide ease and convenience to the consumers.
Electric Bike Market Key Players
·
Giant
Manufacturing Co. Ltd. (Taiwan)
·
Derby
Cycle
·
Easy
Motion (USA)
·
Accell
Group N.V. (Netherlands)
·
Yamaha
Motor Corporation (Japan)
·
Merida
Industry Co. Ltd. (China).
·
Moustache
Bikes Bike (US)
·
NYCeWheels
Electric Bike Industry news
Yamaha has upgraded its electric bicycle range with the unveiling of its refreshed Wabash RT
and CrossCore RC.
Electric Bike Market Regional
analysis
The Electric Bike Market is studied in North America, Asia Pacific,
Europe, and the rest of the world. The Asia Pacific will hold a huge market
share due to economically growing countries like India China. In addition to
it, high vehicular, public transit congestion stringent government rules are
helping the market for further growth. The presence of small and medium
manufacturers of Electric Bike in Europe boost the market's revenue. Cities
with low-speed limits closed certain roads for traffic, and new lanes for
two-wheelers in the North American region are improving the market.
Electric Bike Market segmentation
The Electric Bike Market is divided by battery type and motor type. The
market is further classified into hub motor and mid-drive electric based on the
motor type segment. By type, the Electric Bike is classified into pedal assist,
pedelecs, power on demand, pedal-assist ith power on demand. The pedal assist
is expected to dominate the market due to its better battery life, low service
needs and several other features.
Other segments are also
expected to register high growth in the forecast period. Sealed Lead Acid and
Li-Ion Battery are the sub-segments of the battery segment. The lead-acid
segment is expected to dominate the market due to the factors like low cost and
easy recycling attributes to the market growth. The li-Ion battery will exhibit
high growth during the forecast period due to the features such as better
power-to-weight ratio, better battery life, efficient charging and superior
battery chemistry.
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