E-Bike Global Markets Report 2024: Revenue Data for 2022, Estimates for 2023, Forecasts for 2024 and 2026, and CAGR Projections through 2028
Mar 29, 2024
DUBLIN, March 29, 2024 /PRNewswire/ -- The "E-Bike: Global Markets" report has been added to ResearchAndMarkets.com's offering. The global e-bike market was valued at $41.3 billion in 2022 and should reach $77.6 billion by 2028, with a CAGR of 11.6% during 2023 to 2028. Electric bicycles are experiencing a substantial surge in global recognition and adoption. As many nations and municipalities recognize e-bikes' potential to alleviate traffic congestion, reduce emissions and promote a healthier lifestyle, the global e-bike market has experienced explosive growth. These unique two-wheelers integrate electric power assistance with conventional cycling, providing a more eco-friendly and accessible mode of transportation that caters to a diverse user base. e-Bike sales have increased dramatically in North America, Europe and Asia. Accessibility is a significant factor in this surge in the popularity of this technology. Electric bicycles accommodate a diverse range of users, including elderly individuals who desire to maintain an active lifestyle and city commuters searching for a more environmentally sustainable and efficient mode of transportation to work. Moreover, e-bikes are an intermediary between cycling lovers and individuals who may lack the muscular stamina required to operate a conventional bicycle. Consequently, e-bikes have emerged as a prominent mode of urban transportation, providing a practical resolution for the final lap of travel, mitigation for traffic congestion and an outstanding substitute for public transportation. Technological progress has considerably contributed to the worldwide rise of electric bicycles. The design of electric bikes has undergone a significant transformation, shifting from bulky and primitive to streamlined, lightweight and exceptionally efficient machines. The size reduction and increased power of critical components like batteries and electric motors have enabled e-bikes to travel farther and reach higher velocities. Lithium-ion batteries, which balance weight, energy density and durability, are particularly prevalent. Contemporary electric bicycles frequently incorporate touch screens, smartphone integration and a variety of cycling modes, thereby granting riders the ability to personalize their experience. Additionally, specific models feature regenerative braking, further enhancing their energy efficiency. This report segments the global ...Full story available on Benzinga.com
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