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According to The Business Research Company’s research report on the electric bikes market, the implementation of government regulations to encourage the use of electric bikes is expected to propel the growth of the ebikes market in the coming years. Electric bikes have longer range and are easier to use, allowing users to travel without sweating, pull bigger loads, run more errands, and take longer journeys.
For instance, in 2021, the FAME India Scheme (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles) was implemented with a budget of $1.36 billion and it focuses on the electrification of public and shared transportation. Furthermore, in 2021, the California state budget committed $10 million to the Air Resources Board to implement the e-bike rebate program by July 2022. Therefore, the implementation of government regulations to encourage electric bikes drives the ebikes market.
The global electric bikes market is expected to grow from $32.54 billion in 2020 to $36.52 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. The change in growth trend of the electric bikes market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The electric bikes market is expected to reach $53.23 billion in 2025 at a CAGR of 9.9%.
Asia Pacific was the largest region in the electric bikes market in 2020. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Business Research Company’s report titled Electric Bikes Global Market Report 2021 - By Class (Class-I, Class-II, Class-III), By Motor Type (Mid Motor, Hub Motor), By Battery Type (Lead Acid, Lithium Ion (Li-Ion), Nickel-Metal Hydride (NiMH)), By Application (Mountain Or Trekking, City Or Urban, Cargo), COVID-19 Implications And Growth covers major electric bikes companies, electric bikes market share by company, electric bikes manufacturers, electric bikes market size, and electric bikes market forecasts. The report also covers the global electric bikes market and its segments.
Request for a sample of the global electric bikes market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5423&type=smp
Technological advancements are shaping the electric bikes market. Major companies operating in the electric bikes sector are focused on developing technological solutions for electric bikes to meet customer demand and strengthen their position. For instance, in September 2021, Bosch, a Germany-based technology company has unveiled its new Smart System, a comprehensive package that includes innovative digital advances, such as a new mobile app and wireless remote control, to improve the digitalization of bikes utilizing the company's drivetrain system. Riders may set riding modes, automatically record activity, and integrate fitness apps including Apple Health with the new mobile app.
The main types of classes in electric bikes are class-I, class-II, and class-III. Class-I is a type of electric bike that has an electric motor and works only while pedaling. The different motor types include mid-motor, hub motor and have various battery types such as lead-acid, lithium-ion (Li-ion), nickel-metal hydride (NiMH), others. It is used in several applications including mountain or trekking, city or urban, cargo, and others.
In November 2019, Pon Bicycle Holding B.V., the Netherlands-based company acquired Urban Arrow for an undisclosed amount. The acquisition would allow Pon Bicycle Holding B.V to increase its portfolio with the addition of various electric bikes of Urban Arrow. Urban Arrow is a Netherlands-based manufacturer of electric cargo bikes.
Major players in the electric bikes industry are Accell Group, Derby Cycle AG, Tianjin Fuji-ta Group, Giant Bicycles, Mahindra & Mahindra, Merida Industry Co. Ltd., Pedego Electric Bikes, Tianjin Golden Wheel Bicycle Group Co Ltd, Trek Bicycle Corporation, Pon Bicycle Holding B.V., VanMoof, FRITZMEIER Systems GmbH & Co. KG, Gocycle, Klever Mobility, and Panasonic.
Electric Bikes Global Market Report 2021 – COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provide electric bikes market overviews, electric bikes market analyze and forecast market size and growth for the whole market, electric bikes market segments and geographies, electric bikes market trends, electric bikes market drivers, electric bikes market restraints, electric bikes market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Electric Cars Global Market Report 2021 - By Type (Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)), By Battery Type (Lithium-Iron-Phosphate (LFP), Lithium–Nickel–Manganese Cobalt Oxide (Li-NMC), Lithium–Titanate Oxide (LTO) Battery, Lithium–Nickel–Cobalt–Aluminum Oxide (NCA) Battery, Nickel–Metal Hydride (NiMH) Battery, Lead Acid Battery), By Application (Home Use, Commercial Use), COVID-19 Growth And Change
Electric Bikes And Scooters Global Market Report 2020 - By Product (Electric Bikes, Electric Scooters), By Battery (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh)), By Voltage Capacity (48-59V, 60-72V, 73-96V, Above 96V), By Drive Mechanism (Hub Motor, Mid Drive)
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