eBike Market Size, Insights, Share, Segmentation, Outlook, Value, Statistics | Valuates Reports

Electric Bike Market:

The global electric bike market was valued at $40,312 million in 2019 and is projected to reach $118,657 million by 2030, registering a CAGR of 10.5% from 2020 to 2030.

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The market is anticipated to grow as a result of factors including the implementation of government regulations to promote the use of electric bikes, consumer preference for using e-bikes as an eco-friendly & efficient commute solution, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity.

Due to their reduced size, ability to go at a higher pace with less effort, and the health advantages of pedaling, electric bikes are a flexible, adaptable, eco-friendly, and fashionable means of transportation that helps reduce traffic congestion. These elements contribute to the global increase in the popularity of electric motorcycles.

Electric bike market trends:

Due to growing knowledge of the harmful impacts of operating fossil fuel-powered vehicles, governments around the world are taking steps to decrease their carbon footprints by promoting the usage of electric bikes, cars, and bicycles. Additionally, governments are building bicycle-friendly streets and lanes, which are enticing people to use bicycles as their primary form of transportation. Many governments are paying close attention to electric bicycles, scooters, and motorbikes as dependable, effective types of light motor vehicles (LMVs) that contribute to lowering carbon emissions. This factor is expected to drive the electric bike market.

According to a Brigham Young University study that was published in the Journal of Medical Internet Research, riding an electric bike provides almost as much exercise as riding a mountain bike without making you feel like you've worked out hard. The fact is that cyclists still have to pedal even with pedal assistance, which results in calorie burning. It's a fantastic cardiovascular workout that can support muscle growth and endurance.

Riders receive a boost from pedal help. It facilitates a smoother ride while assisting with hills, inclination, and rocky terrain, minimizing stress on joints. Additionally, you can ride more powerfully and precisely than on a standard bike. Additionally, it encourages people to ride bikes who might not have done so otherwise due to discomfort from their bodies. You can also ride for extended periods of time without becoming physically exhausted. The market for electric bikes is anticipated to increase as a result of these factors.

The COVID-19 pandemic has most commuters staying away from public transportation. E-bikes are regarded as a reliable, practical, and inexpensive substitute for public transit. E-bikes are becoming more and more popular as a means of mobility in cities across the US and Europe, say industry experts and e-bike manufacturers including Rad Power Bike, VanMoof, and Lectric e-bike. In addition, commuters are choosing the bike as their primary form of transportation due to government limits on public transportation due to social-distancing standards.

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Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid-Drive, and Others), and Battery Type (Lead Acid, Lithium-Ion (Li-ion), and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

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