Global E-Bike Market Is Estimated To Witness High Growth Owing To Increasing Rate Of Adoption Rate Of Shared Micro-Mobility And Rising Concerns For The Environment

E-Bike Market
E-Bike Market
Overview:

E-bike are an easy and fun way to get more out of every ride. An E-Bike is an excellent way to enjoy and explore new routes. For those who aren’t conditioned to ride five or 10 miles at a time, E-Bikes can make that distance easily achievable and help in building endurance and confidence.

There are many factors to consider when choosing an E-Bike: motor type, battery size and capacity, frame design, handling and ergonomics, display and controls, accessories, and more. Each of these factors can be adjusted to find the perfect match for riding style, needs and budget. The Core-5 has a powerful Class 3 motor that supports pedal-assisted speeds of up to 28 mph and throttle-only speed up to 20 mph. It is designed to carry a rack for hauling groceries, work gear and more.

Market Dynamics:

Growing investments are estimated to augment growth of the global E-Bike Market during the forecast period. For instance, Motovolt Mobility raised a funding of Rs 16 crore, in a pre-series A round in November 2022. This funding will be used for launching new products, marketing campaigns, and expanding their footprint across India. Moreover, rising cost associated with e-bike and technical limitations are anticipated to restrain growth of the global e-bike for market during the forecast period.

Impact of COVID-19:

During COVID-19 demand for e-bikes decreased owing to the outbreak. Manufacturers of e-bike were facing challenges as there was a shortage of raw materials in many parts of the world. His shortage was cased due to strict nationwide lockdowns imposed in many regions. This restrained the growth h of the global E-Bike Market globally. However, the market is gathering up speed as several restrictions have been relaxed. The pandemic had also helped in the growth of the market as individuals are preferring to use their own vehicle for transportation, for avoiding the chances of contamination.

Key Takeaways:

The global E-Bike Market is expected to witness robust growth, exhibiting CAGR of 10.4 % over the forecast period, due to rising product launches.

For instance, Cannondale launched an Adventure Neo range of commuter e-bikes in March 2021. They are available in four variants and each comes with an alloy frame, Bosch driving system having a battery ranging from 400 to 625Wh.

Asia-Pacific is anticipated to witness robust growth in the global e-bike for market during the forecast period, due to growing presence of key players and rising adoption of advanced technologies.

Key players active in the global E-Bike Market are myStromer AG, Accell Group, JIANGSU XINRI E-VEHICLE CO. LTD., Merida Industry Co., Ltd, GenZe, Giant Bicycles, A2B, Yamaha Motor Corporation, Riese & Müller GmbH, Derby Cycle, F.I.V. E. Bianchi S.p.A., Karbon Kinetics Ltd, Kawasaki Motors Corp., AIMA TECHNOLOGY CO.,LTD.

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