Market Trends of e-cargo 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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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.
- E-bikes are becoming increasingly popular in several countries across the world. Due to the increased online shopping, pollution and traffic congestion have increased significantly over the past five years. Due to these circumstances, online merchants are choosing the quicker and greener option of e-bike deliveries. Globally, APAC recorded the highest number of e-bike deliveries, followed by North America. These factors account for the global increase in the use of e-bikes for local deliveries in 2019 over 2018.
- Focusing on e-bike market expansion, the government's efforts in the form of rebates and subsidies are also supporting the global e-bike market. For instance, in North America, the government provides incentives worth USD 1000, encouraging people to choose e-bikes. These factors are driving the demand for e-bikes, which has led to a 19.70% growth in e-bike deliveries in North American countries in 2021 over 2020. Similar factors drove global growth in e-bike delivery units in 2021 over 2020.
- The e-bike business is exploding in many nations across the world due to the cost advantages of electric bikes over other fuel-powered vehicles. Businesses are investing in e-bikes for local deliveries because of advantages like time efficiency, fuel efficiency, environmental friendliness, and lower maintenance costs. The use of e-bikes for last-mile local deliveries is anticipated to rise during the forecast period due to the aforementioned factors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- GDP Per Capita & Buying Power of Consumer
- 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 E-Bike battery price is on a downward trend, influenced by regional dynamics and significant contributions from Asia-Pacific and Europe.
- Advanced Battery Packs is Attracting Consumers to Opting for E-bikes
- Key countries' varying inflation trajectories underscore the nuanced and multifaceted nature of global economic health.
- The global bicycle rental market exhibits a robust growth trajectory, with significant contributions from Asia-Pacific and Europe, driving the worldwide market trend upwards.
- Government Efforts to Provide Bicycle infrastructure to increase the Use of Bicycles
- As Traffic and Pollution increase, more individuals are Choosing to Bicycle
