Research Nester published a report titled “Electric Bike Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global electric bike market in terms of market segmentation by product, battery type, hub motor location, battery power, usage, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global electric bike market size to grow with a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. The market is segmented by battery type into lithium-ion, lithium-ion polymer, nickel metal hydride, lead acid, sealed lead acid, and others. Amongst these, the lithium-ion segment is projected to grow at the highest rate during the forecast period backed by the very fast charging period of these batteries, good standard of battery chemistry, and zero maintenance necessities.
The global electric bike market is projected to extensively grow owing to the significant hike in fuel prices, followed by the worldwide growing instances of traffic jamming scenarios which is hitting the need to adopt energy efficient vehicles on a large scale. Furthermore, rising urbanization across the globe, and improved efficiency of electric bikes as compared with conventional vehicles are some of the major factors anticipated to drive the growth of the market in the forecast period.
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Geographically, the global electric bike market is segmented into five major regions comprising of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period owing to the newly introduced advance technologies, upsurge in traffic jamming, growing number of protocols to control carbon emission, and hiking ratio of urbanization in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Worldwide Propagation in Air Pollution to Drive the Market Growth
Over 11 million premature deaths worldwide are attributed to pollution, according to statistics from the World Bank.
One of the most serious issues confronting the world today is air pollution. It alludes to the atmosphere becoming contaminated by threatening chemicals or biological substances. Crops, animals, trees, and water sources suffer harm as a result of air pollution. Additionally, it leads to the ozone layer’s reduction, which shields the planet from the sun’s ultraviolet rays. The development of acid rain, which damages plants, soils, rivers, and wildlife, is another adverse consequence of air pollution. Haze, eutrophication, and global climate change are few other environmental effects of air pollution. Such factors are fueling up the requirement of taking some serious takes to tackle the situation from getting worsen. Therefore, adopting the electric bike is a noble start to control the rising level of air pollution in a very profound way. Thus, the increasing air pollution is leading the global electric bike market growth.
However, shortage of groundwork in developing countries, deficit of good roads, and extreme amount of electric bikes are expected to operate as key restraint to the growth of the global electric bikes market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global electric bike market which includes company profiling of Robert Bosch LLC, Johammer e-mobility GmbH, Karbon Kinetics Ltd., Kawasaki Motors Corp., U.S.A., Accell Group, FOCUS & Kalkhoff Holding GmbH, Giant Manufacturing Co., Ltd., Energica Motor Company S.p.A., DOUZE Factory SAS, PEDEGO INC, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global electric bike market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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