The study, which is based both on desk research and multiple waves of qualitative primary research, is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the electric bike industry in any manner.An electric bike (e-bike) refers to a battery-powered two-wheeler that functions on rechargeable batteries. It is economical, environment-friendly, and considered an ideal substitute for scooters, public transport, smart cars, and several other fuel-based modes of transportation. At present times, individuals prefer e-bikes due to the awareness among them about the harmful effects of vehicles that run on fossil fuels. It offers numerous benefits, such as reducing carbon emissions, saving fossil fuels, etc.
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The rising petrol prices, along with the escalating demand for energy-efficient vehicles, which provide an emission-free commuting option over motored cars, are primarily augmenting the (e-bike) electric bike market across the globe. Furthermore, the increasing sales of two-wheeled electric vehicles, owing to the elevating levels of urbanization and inflating disposable incomes of consumers, are also stimulating the market growth. Apart from this, the implementation of stringent regulations and fuel economy standards by government bodies of numerous nations in order to minimize carbon emissions is acting as another significant growth-inducing factor. Besides this, the extensive investments in promotional activities and the emerging trend of e-bike rental services at tourist places are providing lucrative growth opportunities to the global market. Additionally, continuous technological advancements, which aid in reducing traffic congestion, offer greater speed with marginal effort, and the constantly enhancing bicycling infrastructure and battery capacity are anticipated to cater to the growth of the (e-bike) electric bike market across the globe over the forecasted period.
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