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Electric Bikes market Report 2021 - COVID-19 Implications And Growth
Electric Bikes Market Report 2021
The Business Research Company's Electric Bikes Global Market Report 2021 - COVID-19 Implications And Growth
LONDON, GREATER LONDON , UK, November 8, 2021 /EINPresswire.com / -- 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.
Major players covered in the global 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.
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The global electric bikes market size 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%.
The implementation of government regulations to encourage the use of electric bikes is expected to propel the growth of the electric bikes market in the coming years. Electric bikes have a 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 electric bikes market.
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.
TBRC's global electric bikes market report is segmented by class into class-I, class-II, class-III, by motor type into mid motor, hub motor, by battery type into lead acid, lithium ion (Li-ion), nickel-metal hydride (NiMH), others, by application into mountain or trekking, city or urban, cargo, others.
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 is one of a series of new reports from The Business Research Company that provides electric bikes global market overview, forecast electric bikes market size and growth for the whole market, electric bikes global market segments, and geographies, electric bikes global market trends, electric bikes global market drivers, restraints, leading competitors' revenues, profiles, and market shares.
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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)
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 Commercial Vehicles Global Market Report 2021 - By Propulsion Type (BEV, PHEV, FCEV), By Vehicle Type (Electric Bus, Electric Truck, Electric Pick-up Truck, Electric Van), By Battery Type (Lithium-iron-phosphate (LFP), Lithium-nickel-manganese-cobalt oxide (NMC)), By Technology (Battery Electric Commercial Vehicles, Plug-in Hybrids, Hybrids, Fuel Cell Electric Commercial Vehicles), COVID-19 Growth And Change
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