At 8.6% CAGR, Global E-Bike Sharing Market to Surpass USD 50.09 Million by 2026: Facts & Factors

According to the Facts and Factors, Research Report, the global e-bike sharing market in 2019 was approximately USD 28.11 Million. The market is expected to grow at a CAGR of 8.6% and is anticipated to reach around USD 50.09 Million by 2026.

An e-bike can be a scooter, bicycle or motorcycle which runs electrically. It may be completely propelled through electric or partly assisted by peddling. E-bikes are environmental friendly and cost effective transport solutions.

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The growing concerns regarding environmental and health across the nations have generated demand for electric vehicles. Moreover, rise in traffic congestion and high fuel prices in APAC region have proliferated the electric vehicle market. Nowadays, to cut down fuel prices, people are opting for sharing their vehicles which is ultimately increasing the demand for this market. Additionally, most of the young generation flies from their own native place to another state, city, or country either for studying, or doing service. In new place, it gets difficult to own bike. Thereby, people look out for convenient travel facilities and they opt for vehicle sharing programs. Hence, such factors are significantly influencing the e-bike sharing market in recent year.

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The e-bike sharing market is segmented based on type and industry. On the basis of type segmentation, the market is classified into public organization & government, private company. In terms of industry segment, the market is bifurcated into internal use, and public use. The public-use has accounted the largest market share presently. Rising health consciousness among consumers are proliferating the demand for e-bike sharing market. Moreover, the invention of electrically powered bicycles has given customers the convenient option of biking without having to strain themselves physically to a large extent. In addition, people are becoming more inclined towards sharing rather than owning. Many people migrate from one place to other for the purpose of education, and job. For them bike sharing is very convenient and as a result, the use of e-bikes among the public will be more and help to expand the e-bike sharing market size.

On the basis of geography, the e-bike sharing market has been segment into North America, Asia Pacific, Europe, Latin America, Middle East and Africa. The Asia Pacific holds the largest market share in 2019. China is having the biggest market share for e-bike sharing owing to increasing number of new entrants into the market, since 2014. In addition, several towns in China do not need a license to run an e-bike sharing system. In this area, massive investment is being done by private operators which have allowed e-bike sharing operators to grow their business rapidly. In Latin America, countries like Brazil and Mexico have high demand for low-cost transportation alternatives. Thereby, companies operating in this region have huge opportunity to earn revenues by facilitating e-bike sharing program to public. Furthermore, the regions are analyzed into major countries U.S., Mexico, Germany, South Africa, Italy, India, Japan, Brazil, UK, Canada, South Korea, UAE, Egypt, France, China, and Kuwait among others.

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Some of the essential players operating in the e-bike sharing market, but not restricted to include Pedego Electric Bikes, Bikeplus, Ofo, Hellobike, Lime Bike, BikeMi, Obike, Mango, Co-bikes, Bonopark, Citi Bike, Journey Matters, Mobike, Zoomcar, and Gobike among others.

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