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Electric Bike Kit Market Trends

Report ID: GMI8556
Published Date: Mar 2024
Report Format: PDF

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Electric Bike Kit Market Trends

The emerging preference for lightweight, compact designs and the rising demand for conversion kits are other factors driving the industry expansion. In response to these trends, manufacturers are creating kits that are easier to install and handle, appealing to a wider range of consumers. The need for practical and versatile electric biking solutions has also intensified. The convenience of converting traditional bikes into electric ones without sacrificing portability will also boost the market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric bike kit reached USD 1.2 billion in 2023 and is set to expand at over 9% CAGR between 2024 and 2032, owing to an increase in urbanization and traffic congestion prompting the need for efficient transportation.

The city/urban segment is projected to generate over USD 1.6 billion by 2032, due to its increasing demand to cater to the rising need for practicality and convenience.

Asia Pacific market accounted for more than 60% revenue share in 2023, attributed to the surging government support and a cultural shift towards sustainability across the region.

Some of the top companies engaged in the market are Bafang Electric (Suzhou) Co., Ltd., BionX International, Cyzle Bike Store, Dillenger E-Bikes AU, eBikeling, EUNORAU E-BIKE, EVELO Electric Bicycles, Grin Technologies, Swytch Technology Ltd, and Tongsheng.