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E-bike Market Trends

Report ID: GMI3525
Published Date: Mar 2024
Report Format: PDF

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E-bike Market Trends

Advancements in battery technology and the integration of smart features are other pivotal trends propelling the industry forward. Improved batteries provide longer range and quicker charging times for addressing range anxiety and convenience concerns. Smart features, such as GPS navigation, app connectivity, and digital displays enhance the user experience, making e-bikes more appealing and user-friendly. These technological advancements improve performance and cater to the evolving needs of modern riders, fueling market growth.

For instance, in November 2023, Orxa Energies unveiled the Mantis electric motorcycle in India, showcasing its bold street naked design. The bike features striking twin pod LED headlamps, a sleek cowl on the tank, and various intricate cuts and creases, embodying an aggressive aesthetic.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of E-bike reached USD 36.6 billion in 2023 and is set to witness 4% CAGR from 2024 to 2032, due to enhanced infrastructure and the heightened emphasis on cost efficiency.

The city/urban bike segment held around 56% market share in 2023, attributed to the practicality and versatility for daily commutes and errands around the city streets.

Asia Pacific dominated the market with a share of over 60% in 2023, owing to the surge in demand for eco-friendly transportation solutions.

Accell Group, Brompton Bicycle Ltd, Giant Bicycles, Merdia Bikes, Polygon Bikes, Rad Power Bikes, LLC, Scott Sports Sa, Tern, Trek Bicycles, and Yadea Technology Group Co., Ltd.