E-Bike Market SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis, Emerging Trends, Key Players, Future Scope | Accell Group N.V., Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., AIMA Technology Group Co. Ltd.

The increasing provision of government incentives and subsidies in several countries is causing a sharp rise in the sales of e-bikes across the world. Subsidies in the form of price reductions or discounts are encouraging people to buy these bikes. For example, the Swedish government provided a subsidy of as much as 25% (or up to nearly $1,119) per e-bike to all the citizens of the country for up to three years in 2018.

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Because of the provision of this subsidy, more than 100,000 e-bikes were sold in 2018, registering a huge growth from the recorded sales of 67,000 e-bikes in 2017. Apart from this, the increasing concerns being raised in many countries over the escalating pollution levels are also pushing up the sales of eco-friendly modes of transportation such as e-bikes. In various countries such as Netherlands, Belgium, Germany, and Japan, people are increasingly preferring low-speed electric vehicles over the high-speed ones.

As a result, the demand for e-bikes is rising rapidly in these countries, especially for short-distance commuting. Moreover, the pedal-assist electric bikes are very beneficial for the health of geriatric people. Due to these reasons, the popularity of e-bikes is growing quickly all over the world. This is, in turn, driving the progress of the global e-bike market. The market valuation is predicted to surge from $14.4 billion in 2019 to over $25.9 billion by 2025.

According to the estimates of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 10.3%during 2020—2025. Shared and personal are the two most common types of e-bike ownership around the world. Between these, the demand for personally-owned e-bikes was found to be higher in the past years.

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This was because of the extensive utilization of personal or owned bikes by individuals for various sports and transportation activities across the globe.

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This release was published on openPR.