Press release
Refurbished E-Bike Market Growth Accelerates Amid Rising Urban Mobility and Environmental Awareness
Refurbished E-Bike Market
According to the latest research by InsightAce Analytic, the Refurbished E-Bike Market is valued at USD 5.0 Bn in 2024, and it is expected to reach USD 11.3 Bn by the year 2034, with a CAGR of 8.6% during the forecast period of 2025-2034.
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Refurbished e-bikes are electric bicycles that have been used or returned in the past, then thoroughly examined, fixed, and tested to ensure they fulfill safety and performance requirements before being put on the market. For commuters, delivery riders, and recreational users looking for high-quality e-bikes at a lesser price, these bikes are popular since they provide more affordable and eco-friendly solutions than buying new ones. The growing need for reasonably priced, environmentally friendly urban mobility solutions and increased environmental consciousness are the main drivers of the refurbished electric bike (e-bike) market. Since most cities across the world promote low carbon footprints and little traffic, e-bikes are being promoted to customers as cleaner alternatives to conventional motor vehicles. However, the high price of new e-bikes often deters prospective purchasers.
List of Prominent Players in the Refurbished E-Bike Market:
• Upway
• The Pro's Closet
• Luckeep
• Rad Power Bikes
• Trek (Red Barn Refresh)
• BikeExchange
• Whizz Mobility
• EBYCCO
• Decathlon
• VanMoof (via Resellers)
• XO Bikes
• Wahu Mobility
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Market Dynamics:
Drivers-
Due to a confluence of economic, environmental, and technological concerns, the market for refurbished e-bikes is experiencing rapid growth. One of the primary factors is the rising customer demand for affordable and eco-friendly transportation solutions. Refurbished e-bikes are a less expensive alternative that allows electric mobility for a larger group of individuals, including younger riders and those with limited funds. Due to their affordability and growing environmental consciousness, refurbished e-bikes are a popular substitute for eco-friendly transportation. Additionally, its market expansion has been enhanced by technical advancements. Concerns regarding e-bikes' short travel distances have been allayed by improvements in battery technology, such as faster charging and improved energy density, which have expanded the bikes' usability and range.
Challenges:
When compared to more contemporary models, some buyers are apprehensive about the performance and durability of e-bikes, which makes them reluctant to acquire them. Because trust must be established, problems with battery life, deterioration, ripping, and warranty restrictions may prevent the market from growing. Moreover, many areas lack standardized certification and quality control for refurbished e-bikes. This discrepancy has the potential to cause customer discontent and undermine market trust, indicating widespread adoption.
Regional Trends:
The North American Refurbished E-Bike market is anticipated to register a major market revenue share in terms of revenue. Rising fuel prices, an urban population, and a shift in culture toward greener modes of transportation are some of the causes driving this trend. Consumers are searching for environmentally friendly mobility solutions as they become more aware of environmental issues. Refurbished e-bikes are a cost-effective and environmentally responsible alternative to new ones for learners, gig workers, and tourists on a low budget. Besides, over the projection period, Asia Pacific is expected to increase at the fastest rate, headed by powerful nations like Indonesia, Japan, China, and India. With a well-established renewal ecosystem that makes component reuse and resale simple, China is already the world's largest e-bike manufacturer and user. Remodeled e-bikes are appealing to lower and middle-class populations in India and Southeast Asia, particularly in light of the growing urban traffic congestion.
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Recent Development:
• October 2024: Wahu Mobility opened Ghana's first electric vehicle plant manufacturing e-bikes that are intended for long-term urban conditions. The bike features smart locks that are operated by a smartphone app and two replaceable batteries.
Segmentation of Refurbished E-Bike Market-
By Type-
• Pedal-Assisted (Pedelec)
• Speed Pedelec
• Throttle-Based
By Motor Type-
• Hub Motor
o Front
o Rear
• Mid-Drive Motor
By Battery Type-
• Lead-Acid Battery
• Lithium-Ion Battery (Li-ion)
• Nickel Metal Hydride (NiMH)
By Application-
• Urban/City Commuting
• Cargo/Delivery
• Leisure/Cruiser
• Off-road/Mountain Biking
• Touring/Trekking
By Sales channel-
• Online Marketplaces
• Offline Stores
By Region-
North America-
• The US
• Canada
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Mexico
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/refurbished-e-bike-market-/3068
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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