“The Infinium Global Research analyzes the [product type (pedelec, throttle on demand and scooter or motorcycle), drive mechanism (hub motor, mid drive and other drive mechanisms), battery type (lead acid, lithiumion (li-ion), nickel metal hydride (NiMH) and others)] over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Electric Bikes Market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global markets of Electric Bikes.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Electric Bikes Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Electric Bikes Market are Trek Bicycle Corporation, Accell Group, Fuji-ta Bicycle Co.,Ltd., Derby Cycle, Giant Manufacturing Co., Ltd., Jiangsu xinri e-vehicle co., ltd, Mahindra & Mahindra Ltd. (GenZe), Bionx International Corporation, Prodecotech, LLC and Tianjin Golden Wheel Group Co., Ltd.”
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North America is dominating the electric bike market segment through 2018-2024
North America is leading the E-Bike market region globally, due to the presence of e-bike manufacturing companies in this area. Additionally, growing consumer awareness about environmental degradation, government focus on the environmental protection technique and measures are helping to grow this market in this region. The Asia Pacific holds a major share and is expected to dominate the global electric bike market during the forecast period. China is a major revenue contributor to the market in the Asia Pacific. Stringent regulations regarding emissions and strong imitative for green transportation are expected to drive the electric bike market in China.
Increasing cost of fossils fuel is boosting the growth of the electric bike market
Everyday fossils fuel price is increasing, which is forcing the consumers to switch to a cheaper alternative for commuting purpose. In recent time there is high growth in the price of petroleum-based fuel. But, electric bikes only consume electricity, and electricity is available through several sources like hydro, air, thermal energy, and convention coal-based. Electricity is cheaper than fossils fuel. Hence, now people are preferring electric bikes instead of conventional motorbikes.
Growing awareness about the health and environmental benefits are helping to grow this market
As per one study of new brain monitoring, scientists found that Electric vehicles reduce the stress during driving. This study found that drivers are more focused, calmer, and happier when driving the electric version of the taxi, compared to a conventional taxi. Additionally, growing awareness about the health benefits of driving electric bikes/vehicles is helping to grow this market. The electric vehicle has far fewer moving parts than a conventional gasoline-powered vehicle. There’s no need for liquid fuels or oil to operate these vehicles. Hence, no polluting elements are released during the application of electric bike. It is an environment-friendly vehicle, that helps to protect the environment from several toxic elements as carbon monoxide(CO), Sulfur etc.
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Recent Development:-
Yamaha launched electric bikes replacing traditional ones
June 2018, Yamaha launched electric bikes to replace traditional bikes and motorcycles. Yamaha Motor Co., Ltd developed the TY-E electric trial bike—taking advantage of unique features of electrical power for Motorcycle trials. This electric bike includes high rotation type compact high-power motor that achieves high off-road performance with both powerful low-speed torque and extended acceleration.
Yamaha Motor Company Limited is a Japanese manufacturer of motorcycles, marine products such as boats and outboard motors, and other motorized products. The company was established in 1955 upon separation from Yamaha Corporation and is headquartered in Iwata, Shizuoka, Japan.