Government Initiatives & Incentives offer favorable opportunities for the Global E-bike Market Growth

Inkwood Research estimates that the Global E-bike Market is evaluated to register a CAGR of 9.16% in terms of revenue during the forecasting years of 2021-2028.

"Browse 39 Market Data Tables and 41 Figures spread over 150 Pages, along with an in-depth TOC on the Global E-bike Market Forecast 2021-2028."

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An electric bike is a bicycle with an integrated electric motor used for assisting propulsion. E-bikes are eco-friendly, versatile, flexible, and trendy mode of transport. They are classified according to the power of their electric motor and control system. The classification also varies across countries and local jurisdictions. They are considered as an ideal substitute for smart cars, public transport, and scooters.

Government Initiatives Fuel Market Growth

Governments across the world are undertaking initiatives for reducing carbon footprints. The use of electric vehicles and electric bikes is one of the encouraging steps for increasing awareness regarding the harmful effects of vehicles that run on fossil fuels. Efforts are also being made to construct more bicycle-friendly streets. This further boosts the demand for the bicycle as a preferred mode of commute. Moreover, in order to promote the use of environment-friendly vehicles, benefits in the form of initiatives, including reduced registration tax, are offered by several governments. The other facilities offered by different governments across the world include, construction of bicycle (express) routes, bicycle parking facilities, the establishment of battery charging stations, etc. Such factors are set to increase the adoption of e-bikes.

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Pedelecs Retains its Highest Market Share throughout 2021-28

The drive system in the pedelec class of an e-bike is activated by pedaling to reach a higher speed. It is categorized as a motor vehicle in several parts of Europe, thereby requiring an identification plate and special licensing. The maximum speed allowed is 28 mph, and the use is restricted to private property or roads. On the contrary, the US considers this class as a low-speed electric bicycle, and thus do not entail special licensing. Also, the throttle-type bikes are clubbed with the pedelec type in the country. At the same time, in Europe, pedelecs offer pedal-assist since throttles are rarely used. Pedal-assist bikes are of two types, torque sensor and cadence sensor.

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Europe is the Leading Region in the Global Market

Cycling as a mode of transportation is a peculiarity of Danish and Dutch cities, which also entail impressive bicycle infrastructure. E-bikes are a preferred mode of commute, along with sports and leisure, among Europeans. Their space-saving and eco-friendly capabilities make it an ideal option and solution for city logistics problem. The Netherlands encompasses the biggest market for the e-bike in Europe, with several other countries witnessing e-bikes taking over conventional bikes. Thus, with the shifting preference and infrastructure, e-bikes are projected to show promising trends in Europe.

The competitive intensity is evaluated to be moderate during the forecast period. With manufacturers coming up with independent technologies, sustainable competitive advantage through innovation is high. The existing companies are enhancing their organized methods with online platforms and physical stores, whereas new players are trying to gain entry into the market. Some of the major players in the market include, Giant Manufacturing, Fuji Ta Bicycle, Derby Cycle, BMZ GmbH, Accel Group, etc.

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This release was published on openPR.