The Key Player Releases The Global Electric Bike Market Report 2019-2029 With Regional and National Level Analysis

Thursday 26 September 2019, Amsterdam

The Electric Bike Market size is projected to grow substantially during the forecast time frame owing to the increasing adoption in major economies across the globe fuelled by the consumer preference toward all-electric vehicles and high demand for low maintenance and high operational efficiency. Increasing awareness and government initiatives to promote the use of battery-operated vehicles is resulting in increasing adoption of eco-friendly vehicles by consumers. For instance, the FAME-India scheme in India, electric bike grant scheme in states of Jersey, and grants offered for EVs purchase by Office for Low Emissions in the UK are the government initiatives which were focused on the promotion of e-bike. These initiatives are expected to provide potential growth opportunities for the electric bicycles market throughout the forecast period.

Moreover, health benefits offered by electric bicycles such as cardiac rehabilitation and weight reduction are expected to fuel market growth. According to the National Health Service (NHS), exercise-based rehabilitation programs can reduce deaths risks by 25%, and the adoption of these bikes provide less cardiac exertion for people with existing coronary problems. Patients suffering from obesity who are unable to exercise can comfortably use these bicycles, which allows them taking short breaks from pedalling. Moreover, biking on rough terrains and difficult slopes by bikers is also fuelling the growth of the market.

The report analyst commented "Technological innovations in automotive manufacturing and increasing stress on fossil fuels have created new avenues for Electric Bike market. For instance, Global mobility traffic has grown tremendously over the past few years. Additionally, it is anticipated that, by the end of 2030, the smart and electric vehicle's volume will contribute a major share of the total automotive production. Though conventional diesel-powered vehicles are becoming cleaner and more efficient, the added initial and operating costs associated with these changes are helping to reduce the incremental cost of moving to electric-assisted and all-electric bikes."

Leading companies featured in the report who are developing electric bike market include Accell Group N.V., Yamaha Motor Co., Ltd., Giant Manufacturing Co., Ltd., Yadea Group Holdings Ltd, Honda Motor Co., Ltd., Bayerische Motoren Werke AG (BMW Motorrad International), Pon Holdings BV (Derby Cycle Holding GmbH), Greenwit Technologies Inc., Merida Industry Co., Ltd., Mahindra & Mahindra Ltd. and few others.