The world is moving towards more sustainable and environmentally friendly transport vehicles, and 2-wheeler is part of that trend. Companies from around the world are making electric bikes (E-bikes), which are environment-friendly and also prove to be cheaper than using regular motorbikes.
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E-bikes (Electric Bikes) Market Size
The global E-bikes market size reached around US$ 18.5 billion, in 2019. The market size is forecasted to reach nearly US$ 22 billion by 2025.
E-bikes (Electric Bikes) market Analysis
The electric bike (E-bikes) comes in various shapes, such as Pedal Assist E-Bikes, On-Demand Throttle Assist, Speed Pedelec, Moped, and all are equipped with the electric motor. The one common thing in all these forms of e-bikes that all are equipped with pedals assist.
The key elements behind the growth of E-bikes include increasing prices of fuel, strict government regulations for emission control, growing inclination towards cycling (especially in youth), and congestion in large cities.
There are also some elements which can restrain the market growth in the E-bike market, such as high price, emerging aftermarket for spare parts, and underdevelop infrastructure in countries. Furthermore, besides the restraining factors in the E-bikes market, the market will see promising growth in its size.
Moreover, the E-bikes with a pedal assistant are expected to grow faster and will increase its market share, due to its various advantages.
Most of the manufacturing companies are headquartered in the US. Some of the top players in E-bikes manufacturing includes Ancheer, Ride1Up, Ecotric, Cyclamatic, SwagCycle, Changzhou Bisek Cycle Co., Ltd, Energica, Johammer, Lightning, Yamaha, and BMW.