E-Bikes Market To Reach USD 89,736 Million by 2030
The size of the e-bikes market was USD 40,664 million in 2022, and it will power at a rate of 10.4% in the years to come, to reach USD 89,736 million by 2030, as stated by P&S Intelligence.
The lithium-ion battery category will grow at a rate of 13.9% in the future. The growth of the industry will mostly be as a result of these batteries’ fast charging, safety, approximately 55% lower weight than other batteries, which aids to reduce the weight of the vehicle; high productivity, and long life.
The less than or equal to 250 W category will have a considerable rate in the years to come. This is since e-bikes with a power output in this range are extensively employed in cities, accompanied by on rough areas, for example hills and steps, for fitness purposes. Some OEMs that bid ≤250W motors for e-bikes are Brose, Bosch and Shimano.
The e-bikes market is observing the incorporation of smartphones with these bicycles. When combined with an e-bike, the smartphone can offer real-time info associated with speed, rear views, battery status, heart rate, navigation, and other aspects to riders.
The increasing levels of pollution in numerous countries, which has become a thoughtful concern for the individuals, has given a boost to the requirement for green-tech-powered vehicles. Numerous nations have set targets to surge the sales of EVs, for example scooters, bikes, and cars, to decrease pollution.
Moreover, people make use of pedal-assist e-bikes in excess of other low-speed e- two-wheelers in numerous countries, propelling the sales of e-bikes.
Hence, the growing usage of e-bikes because of the concerns of people over ecological and health degradation is snowballing their overall share in the EV sales.
Moreover, governments are presenting targets at the city level for the expansion of e-bike fleets, representing a prospect for manufacturers.
It is because of the increasing government support and incentives regarding the adoption of e-bikes, is powering the demand for the same to grow considerably in the future.