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Thursday, November 30, 2023

Electric Bike Market Trends Analysis | Qualitative Insights on Application & Outlook by Share, Future Growth 2032

 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.

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.

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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 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.

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.

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