Electric Bike Market Accelerates To Hit USD$25.9 billion By 2025 | CAGR 10.3%


Posted September 29, 2020 by Rahul_Gautam

Electric-Bikes (E-Bikes) to Lead the Ride into Future
 
The increasing pollution levels caused because of the large-scale usage of conventional fuels-powered vehicles and bikes are making the people switch to eco-friendly modes of transportation such as e-bikes. Additionally, the governments of several countries are increasingly implementing various incentives and policies such as subsidies or discounts on the prices of e-bikes, for promoting their adoption in the transport fleets. For instance, the Swedish government launched a subsidy of up to nearly $1,119 (or 25%) on the purchase of an e-bike for the following three years.

Due to this subsidy, there was a huge rise in the sales of e-bikes in Sweden, from more than 67,000 units to over 100,000 units from 2017 to 2018”. Besides the government subsidies, the increasing road congestion in urban areas and major cities and rising popularity of low-speed electric vehicles such as the pedal-assist e-bikes, especially for traveling short distances are the other major factors fuelling the sales of e-bikes across the world. These pedal-assist bikes also serve as good alternatives to cycling and are thus, becoming very popular amongst the ageing population.

The incorporation of these bikes in bike sharing services and systems is another important factor fuelling their demand all over the globe. The governments of many countries are enacting policies for promoting the adoption of these bikes in private and public ride sharing services. For example, Mexico City aims to have at least 30% of the total bikes operating in private and public sharing services run on electric power by 2030.

Hence, it can be said with conviction that the demand for e-bikes in market will surge all over the globe in the forthcoming years, mainly because of the increasing pollution levels and the rising enactment of favorable government incentives and policies in many countries around the world.

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Market Size Breakdown by Segment
The electric bike market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2025.
Based on Ownership Type
Personal
Shared
Based on Battery
Lithium-Ion
Lead Acid
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Tags ebike market , ebike market 2020 , electric bike business scope , europe ebike market report , india ebike market share , us aebike market size
Last Updated September 29, 2020