Press release
Electric Bike Market Forecast to Grow at 6.9% CAGR from 2024 to 2031 | SkyQuest Technology
Skyquest Technology
Electric Bike Market [https://www.skyquestt.com/report/electric-bike-market] size was valued at USD 43.05 billion in 2022 and is poised to grow from USD 46.02 billion in 2023 to USD 78.48 billion by 2031, growing at a CAGR of 6.9% during the forecast period (2024-2031).
In the past few years, the demand for electric bike market has increased as many government bodies are taking initiatives to reduce carbon footprints. The rising awareness about the hazardous effects of vehicles that operate on fossil fuels is also boosting the market. Moreover, governments are emphasizing on developing bicycle-friendly streets, encouraging people to prefer bicycles as their choice of transport. The rising popularity of e-bikes is also attributed to the growing technological developments in the industry. Connected e-bikes even has a SIM module that enables them to send and receive data with the help of cloud without any smartphone connection. These bikes provide remote diagnostics, anti-theft systems, social media connectivity, integrated navigation, and automatic emergency calls. The electric bikes are flexible, eco-friendly, and versatile method transport. Consumers are considering them a perfect substitute for smart cars, scooters, and public transport. They assist in minimizing traffic congestion due to their decreased form, offering better speed. These factors are contributing to the increasing demand for electric bike market.
Download a detailed overview:
https://www.skyquestt.com/sample-request/electric-bike-market
Top Player's Company Profiles
* Accell Group N.V. (Netherlands)
* Giant Manufacturing Co. Ltd. (Taiwan)
* Yadea Group Holdings Ltd. (China)
* Yamaha Motor Company (Japan)
* Pedego Electric Bikes (United States)
* Pon.Bike (Netherlands)
* Aima Technology Group Co. Ltd. (China)
* Merida Industry Co. Ltd. (Taiwan)
* Trek Bicycle Corporation (United States)
* Specialized Bicycle Components, Inc. (United States)
* Hero Lectro E-Cycles (India)
* Fuji-Ta Bicycle Co., Ltd (Japan)
* Electric Bike Company (Status Unknown)
* Rad Power Bikes LLC (United States)
* Vanmoof (Netherlands)
* BH Bikes (Spain)
* Brompton Bicycle Limited (United Kingdom)
* Riese & Muller GMBH (Germany)
* Mystromer AG (Germany)
* Cowboy (Belgium)
* eAdicct Mobility Solutions Pvt.Ltd. (India)
Supply Shortages Leads to Rise in Fuel Expenses to Drive Market
Lately, the adoption of electric bicycles has increased significantly due to the increase in fuel expenses. The high cost of fuel price is because of the surge in crude oil costs that are primarily controlled by the Organization of the Petroleum Exporting countries. Furthermore, limited sources of crude oil are also increasing the prices. Nowadays, governments of many countries are also investing in charging infrastructure that is necessary for charging the bikes. They are also offering various incentives, schemes, and subsidies for attracting manufacturers to increase production and consumers for buying it. The consumers are also shifting towards buying electric bikes due to its advantages and eco-friendly nature. Bikes that have electric motors help in maintaining better high speed and ride comfortably. Therefore, rise in fuel expenses to boost consumer inclination towards the usage of electric bike, driving the market.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/electric-bike-market
Segments covered
Class
CLASS I, CLASS II, CLASS III
Speed Type
UP TO 25 KM/H, 25-45 KM/H
Battery Type
Lithium-ion, Lithium-ion Polymer, Lead Acid, Other Battery Types
Motor Type
Mid Motor, Hub Motor
Mode
Pedal Assist, Throttle
Component
Batteries, Electric Motors, Frames with Forks, Wheels, Crank Gears, Brake Systems, Motor Controllers
Usage
Mountain/Trekking, City/Urban, Cargo, Other Usages
Ownership
Shared, Personal
Battery Capacity
250W-450W-650W
Weight
< 2 KG, > 2 KG - < 2.4 KG, > 2.4 KG
Motor Power
40-70 NM
Incorporation of Smart Features in Electric Bike to Improve User Experience Creating More Market Opportunities
The incorporation of smart features provides many opportunities for market extensions and innovations in electric bike. These features consist of GPS navigation, integrated sensors for tracking performance, and smartphones connectivity. With these electric bikes provide improved user experience whole offering useful data for riders so that they can enhance their journey experience. Such amalgamation of technologies is increasing the appeal of electric bikes to tech-savvy consumers. This is also opening new opportunities for personalized services, data driven insights, and innovative business models in the electric bike settings. Today, smart features are becoming more sophisticated and are smoothly embedded into the electric bike designs. These features will drive the adoption and growth of the market, catering to a wide range of consumer preferences and requirement.
* Montra Electric and Bike Bazaar went into partnership in April 2024. The aim was to offer ground-breaking financing solutions for electric three-wheelers. The collaboration will improve the adoption of sustainable transportation in India.
* Electric Bike Company and Oyster Technologies entered a strategic collaboration in April 2024. It will provide customers insurance at the point of purchase. The company can improve the customer experience by smoothly integrating insurance into the purchasing process of electric bike.
* Ride-hailing giant Bolt partnered with M-KOPA in April 2024 for introducing a fleet of 5,000 electric bikes in Kenya. This strategic collaboration will revolutionize urban mobility by offering cost-efficient and eco-friendly transportation.
* Hindustan Petroleum Corporation Limited went into a strategic alliance with Ultraviolettein February 2024. The aim was to establish a nationwide charging network for electric two-wheelers.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/electric-bike-market
Growing Environmental Concerns to Increase Demand for Eco-Friendly Vehicles to Propel Growth
The increasing awareness of environmental problems, especially regarding air pollution and climate change is driving the electric bike market growth. Today consumers have become more conscious about the environmental impact due to which there is constantly a demand for transportation solutions that merge with sustainability objectives. Electric bikes provide a cleaner substitute compared to the conventional vehicles, releasing no hazardous chemicals and creating less greenhouse gas. This is ultimately propelling the demand for electric bikes as an eco-friendly mode of transportation.
Related Reports:
Artificial Intelligence Market [https://www.skyquestt.com/report/artificial-intelligence-market]
Visit Our Website: https://www.skyquestt.com/
Media Contact
Company Name: Skyquest Technology
Contact Person: Mr. Jagraj Singh
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=electric-bike-market-forecast-to-grow-at-69-cagr-from-2024-to-2031-skyquest-technology]
Phone: +1 351-333-4748
Address:1 Apache Way, Westford,
Country: United States
Website: https://www.skyquestt.com/report/electric-bike-market
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric Bike Market Forecast to Grow at 6.9% CAGR from 2024 to 2031 | SkyQuest Technology here
News-ID: 3643951 • Views: …
More Releases from ABNewswire
Denver's Best Appliance Repair Responds to Rising Demand for Emergency Appliance …
Denver's Best Appliance Repair expands emergency services across the Denver metro with same-day repairs, 7-day availability, 5-year parts warranty, and professional licensed technicians serving residential and commercial clients.
Household appliance failures don't follow a schedule. When a refrigerator stops cooling in the middle of summer or a washing machine floods a basement on a Sunday evening, families need immediate help. Denver's Best Appliance Repair has responded to this growing need by…
Oak Hill Clinic Reaches 30,000 Client Milestone with Results-Driven Deep Tissue …
Deep Relief in Oak Hill, Austin, has served 30,000 clients through specialized massage, chiropractic, and acupuncture care. The clinic accepts insurance and focuses on results-driven treatments for pain relief.
Deep Relief, an Oak Hill-based wellness clinic, has achieved a significant milestone by serving more than 30,000 clients seeking Relief from chronic pain, muscle tension, and mobility issues. The clinic's success stems from its commitment to advanced, results-focused bodywork that goes beyond…
Vertex Fleet Expands Nationwide Network to Combat Growing Trailer Drop Yard Shor …
Vertex Fleet announces major expansion of secure parking facilities nationwide, addressing the critical shortage of commercial vehicle storage with 15+ new locations featuring 24/7 security and technology-driven access.
The freight and logistics industry faces a mounting crisis as demand for secure parking spaces continues to outpace supply across the United States. Vertex Fleet [https://www.vertexfleet.com/], a leading provider of industrial outdoor storage solutions, has announced significant expansion plans to address this critical…
HVAC in Denver Sees Service Enhancement as Denver's Best Heating and AC Repair L …
Denver's Best Heating and AC Repair expands 24/7 emergency services across 23 metro cities, offering A+ rated heating, cooling, and commercial HVAC solutions with rapid response times and multi-brand expertise.
Denver's Best Heating and AC Repair [https://www.denversbestheatingandacrepair.com/]has expanded its service capabilities to meet growing demand for reliable heating and cooling solutions across the Denver Metro area. The A+ rated contractor now provides 24/7 emergency response services to 23 cities, addressing critical…
More Releases for Bike
Europe Bike Sharing Market 2021 Strategic Assessments - Cloud Bike, Rekola, Pony …
The Europe Bike Sharing Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The Europe Bike Sharing…
Biometric Bike Locks Market Trends, Regulations And Competitive Landscape Outloo …
Biometric Bike Locks Market: Market Overview
Security has always been a concern for human beings. Today’s bike owners focus on theft prevention technologies and methods to enhance vehicle security and thus, the demand for biometric bike locks is growing rapidly. Increasing security awareness about bikes is further driving the growth of the biometric bike locks market. Moreover, continuously growing demand for enhanced security and identification systems for triathlon/time trial bikes has…
Bicycle & Components Market Report 2018: Segmentation by Product (Mountain Bike, …
Global Bicycle & Components market research report provides company profile for Campagnolo Srl, Giant Bicycle Inc, Cycleurope AB, Hamilton Industries Ltd, Derby Cycle Corporationand, Atlas Cycles Ltd, Accell Group NV, Caloi Inc, Avon Cycles Ltd, Cannondale Bicycle Corporation Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue,…
Shaft Drive Bike Market Report 2018: Segmentation by Product (Mountain Bike, Roa …
Global Shaft Drive Bike market research report provides company profile for Brikbikes, Beixo, Maruishi Cycle Ltd., ECruiser Bikes, Mobike, TDJDC, Dynamic Bicycles and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also…
Global Carbon Fiber Bike Market 2017 Industry:Merida Bike, Battle-FSD, Trek Bike …
Global Carbon Fiber Bike Market 2017 Industry Research Report by Service spreads across 116 pages profiling 20 companies and supported with tables and figures available at ReportsnReports.com
Global Carbon Fiber Bike Market 2017 Research Report initially provides a basic overview of the industry that covers definition, applications and manufacturing technology, post which the report explores into the international players in the market.
This is a professional and in-depth study on the…
Global Carbon Fiber Bike Market 2017 : Marmot Bike, Cube Bike, Colnago, SOLOMO, …
QY Market Research published, Top Manufacturers Analysis Of Carbon Fiber Bike Research Report. A market study based on the "Carbon Fiber Bike Market" across the globe, recently added to the repository of Market Research, is titled ‘Global Carbon Fiber Bike Market 2017’. The research report analyses the historical as well as present performance of the worldwide Carbon Fiber Bike industry, and makes predictions on the future status of Carbon Fiber…
