Market Trends of e-bike Industry
The steady global increase in e-bike adoption rates reflects a worldwide shift towards sustainable and efficient personal mobility solutions.
- There has been an increase in demand for electric bicycles in many countries over the past several years. Increased gasoline costs, traffic congestion during rush hours, and the health advantages of exercise are driving the usage of e-bikes in several countries, including the United Kingdom and the United States. With a greater adoption rate in 2019 compared to other regions, Europe is the primary market for the selling of electric bikes. The increasing demand for e-bikes accelerated the adoption rate in 2019 compared to 2018.
- The bicycle industry was favorably impacted by the rapid global expansion of the covid cases and wave. E-bikes are one of the most practical and affordable solutions for everyday commutes to work and other local locations compared to other means of transportation, which has revolutionized how consumers commute. This has encouraged people to invest in e-bikes, which accelerated the adoption rate in 2020 over 2019 in various countries across the globe.
- The return of commercial operations and the lifting of trade restrictions like lockout have accelerated the adoption of e-bikes in numerous countries throughout the world. The improvement of import and export activity has been a result of the removal of trade obstacles globally. According to estimates, during the forecast period, the adoption rate of e-bikes will increase in a number of countries around the world due to consumers' growing interest in them as a result of their features and advantages, such as the ability to exercise while riding, the lack of a fuel cost, and cleaner rides.
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A global uptick in 5-15 km commutes underscores a universal shift towards moderate commuting distances, aligning with evolving work-life dynamics and urban planning.
- The global bicycle market is made up of several bicycle-friendly regions, including North America, Europe, and Asia-Pacific. Bicycle demand has grown recently among many countries in various regions. People from different countries and regions are gradually shifting to using bicycles for their everyday commutes of 5 to 15 km or other nearby locations such as offices and commercial districts. The APAC region has witnessed the most daily commuters traveling 5 to 15 km among all regions.
- Following the COVID-19 outbreak, which forced the closing of gyms and public transportation in several countries worldwide, many people discovered bicycles to be a secure and isolated method of transportation. People also preferred to exercise during the pandemic by bicycling or going on weekend runs to neighboring sites, which led to an increase in the number of commuters with a daily journey distance of 5 to 15 km in 2020 over 2019 globally. Consumers who commute 5 to 15 km daily are drawn to e-bikes with cutting-edge battery packs that offer an increased range of up to 40 to 45 km.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- GDP Per Capita & Buying Power of Consumer
- The global bicycle rental market exhibits a robust growth trajectory, with significant contributions from Asia-Pacific and Europe, driving the worldwide market trend upwards.
- The global Hyper-Local Delivery market is on a significant upward trend, driven mainly by substantial volumes in the US and Asia-Pacific regions, especially China.
- The global bicycle trekker market has been experiencing continuous growth, with a substantial increase in the number of trekkers from 2017 to 2029.
- As Traffic and Pollution increase, more individuals are Choosing to Bicycle
- Key countries' varying inflation trajectories underscore the nuanced and multifaceted nature of global economic health.
- The global E-Bike battery price is on a downward trend, influenced by regional dynamics and significant contributions from Asia-Pacific and Europe.
- Government Efforts to Provide Bicycle infrastructure to increase the Use of Bicycles
- Advanced Battery Packs is Attracting Consumers to Opting for E-bikes
