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Electric Bike Market By Application
Electric Bike Market Regional Analysis
Electric bikes are becoming increasingly popular as automakers work to reduce their size, increase battery range, and promote better engine performance.
LONDON , UNITED KINGDOM, June 30, 2022 /EINPresswire.com / -- The global electric bike (e-bike) market was valued at USD 26.44 billion in 2021, and it is expected to reach USD 59.26 billion by 2028, registering a CAGR of 12.2% during the forecast period. An e-bike, sometimes known as an electronic bicycle, is a bicycle with an electric motor, a battery, and a drivetrain. The bike can either be pedaled or powered by rechargeable batteries. They mostly used lead-acid batteries, which are capable of covering large distances on a single charge. E-bikes are easy to use, suitable for people of all ages, and a cost-effective alternative to motorized cars as an environmentally responsible mode of transportation.
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The Electric Bike Market - Growth Factors
The rapid expansion of the electric bike market will be fueled by an increase in the adoption rate of shared micro-mobility. The ecology of public transportation includes shared micro-mobility. Shared electric micro-mobility can supplement high-operating transit systems and provides mobility services for numerous travels at a cheaper per-traveler cost as a flexible transit option with low operational expenses and overhead.
The Electric Bike Market – Segmentation
Based on battery type, the electric bike (e-bike) market is categorized into lithium-ion, lithium-ion batteries, and lead-acid batteries. Based on propulsion type, the electric bike (e-bike) market is classified into pedal-assisted, and throttle-assisted. Based on battery power, the electric bike (e-bike) market is bifurcated into Less than and Equal to 250W, Above 250W. Based on application, the electric bike (e-bike) market is segmented into city/urban, trekking (e-mountain bikes/e-mtb), and cargo.
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The Electric Bike Market Trend:
•Advances in bike infrastructure, which have been funded by governments in several nations, have increased revenue potential.
The Electric Bike Market Regional Analysis:-
Asia-Pacific now dominated the electric bike (e-bike) market in terms of revenue and volume, and this dominance is expected to continue during the projected period. This is owing to the region's adoption of sophisticated technologies. Furthermore, the number of large important players in this region will accelerate the electric bike market's growth pace. Europe, on the other hand, is expected to have the fastest growth rate from 2022 to 2028, owing to strict automobile emission requirements and an increase in social alienation as a result of COVID-19 in this region.
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Satya Prabhu
Precision Business Insights
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