Electric Bicycles Market Trends, Comprehensive Analysis, Company Latest News and Forecast to 2027

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Electric Bicycles Market
Electric Bicycles Market

An electric bicycle, also known as an e-bike, is a modified bicycle with an electric motor that provides the rider with pedal assistance. It has the same basic features as a standard pushbike but with electric assistance. Electric Bicycles Market are the world's best-selling electric vehicles, with sales expected to exceed 36 million by 2025. Weight reduction aided by Li-ion battery integration, low cost, wide availability, and minimal environmental impacts are expected to be the major factors driving industry growth over the forecast period. Growing urbanisation and concerns about the environmental impact of motor vehicles in global economies are expected to drive market growth even further.

Rising motor vehicle traffic and pollution levels are expected to propel the Electric Bicycles Market forward. According to a World Health Organization report, increased motor vehicle traffic has resulted in an increase in road accidents over the last decade, accounting for over 1.25 million deaths in 2015. (WHO). Furthermore, as vehicle traffic has increased, pollution levels around the world have increased significantly. According to the Union of Concerned Scientists, trucks and cars account for one-fifth of U.S. emissions that contribute to global warming. Adopting eco-friendly electric bicycles can drastically reduce traffic congestion while emitting negligible carbon emissions, which is expected to propel the growth of the electric bicycles market over the forecast period.

Consumers are increasingly adopting eco-friendly vehicles as a result of increased awareness and government initiatives to promote the use of battery-powered vehicles. FAME-India scheme in India, electric bike grant scheme in states of Jersey, and grants offered for EV purchase by Office for Low Emissions in UK are examples of government initiatives aimed at promoting e-bikes. Throughout the forecast period, these initiatives are expected to provide potential growth opportunities for the Electric Bicycles Market. Electric bicycles' health benefits, such as cardiac rehabilitation and weight loss, are expected to drive market growth. According to the National Health Service (NHS), exercise-based rehabilitation programmes can reduce the risk of death by 25%, and the use of these bikes reduces cardiac exertion for people who already have coronary problems. Obese patients who are unable to exercise can use these bicycles, which allow them to take short breaks from pedalling. Furthermore, biking on rough terrains and difficult slopes by bikers is fueling market growth.

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