The E-Bike Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the E-Bike Market highlights the future prediction and the growth alternatives that can be created.
E-Bike Market Review
In its research report, Market Research Future (MRFR), emphasizes that over the review period , the global e-bike market 2020 is expected to grow exponentially, acquiring a substantial market valuation and a healthy CAGR.
E-bikes are basically types of motorized bicycles powered by electric motors. The small added motor assists pedal-power riders and assists with propulsion. Market Research Future 's study of the global e-bike market has revealed various important market details, and has detailed factors likely to have a positive and negative impact on the market for the 2017-2022 forecast period. Secondary data in research by MRFR shows demand growth after 2022 at more than 4 per cent.
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E-bikes or electric bikes are equipped with Li-ion chargable batteries which provide the rider with almost 100 miles in a charge, making it extremely convenient for day-to-day use. It is expected that increased environmental awareness and the growing move towards the adoption of environmentally friendly vehicle options will contribute significantly to the growth of the global e-bike industry. In addition , urban consumers are increasingly taking adventurous activities into their lifestyles, and e-bikes are a huge part of that. Urban consumers have high disposable incomes which in recent years have been conducive to market growth. The increased interest in e-bikes has led producers to invest in e-bike development and to focus on altering the design to create more demand in the years to come. The latest in e-bikes can offer real-time information about current velocity and battery status so consumers can be aware. In addition, startups are popping up to establish e-bike rental services in big cities that will lead to market growth.
The high costs associated with e-bikes, though, are likely to deter demand. Notably, this is taken into account by suppliers and they are looking for ways to cut costs without losing quality to boost revenue during the review period. This would undoubtedly give rise to business opportunities in the years to come. In addition, strict government e-bike laws are restricting market growth. However, the potential offer of e-bikes to alleviate traffic in congested cities is expected to provide growth for the business room.
MRFR's study of the e-bike market includes the study of the competition in the market and the strategies that they use. Easy Motion Electric Bikes, Pedego, Stromer, Jiangsu Xinri E-Vehicle Co. Ltd, Yadea Technology Group Co. Ltd Panasonic,, BTS machinery Co., Ltd, Derby Cycle AG, and Accell Group are among the major market players that have been comprised in the report.
the market divides it on the basis of type, battery frame material, design, a consumer group, and region. Types of e-bikes have been segmented into throttle control, pedal assist, and others.
Battery types used in e-bikes include lithium ion, sealed lead-acid, and others.
The frame material for e-bikes has been divided into carbon fiber, aluminum, carbon steel, aluminum alloy, and others.
Consumer groups targetted in the market have been segmented into women, men, and children.
Designs of e-bikes have essentially been bifurcated into foldable, and non-foldable. COVID-19 Impact
Owing to the high presence of bike riders in the region and the increasing adoption of e-bikes by consumers in the region, the European market is expected to have a considerable impact on the global e-bike market. Europe has highly supportive laws on environmentally conscious products and promotes the adoption of e-bikes as such.
Owing to the high traffic congestion in large cities present in the area, the North American market is also important. These towns are looking for convenient alternative methods that don't add to the existing problem. Additionally, demand for environmentally friendly modes of transport is rising e-bike sales.
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