Global Electric Bike Market Overview:
Global Electric Bike Market is witnessing moderate growth and is projected to register a CAGR of XX% during the forecast period of 2015-2023. Electric Bike is one kind of transport tool which uses the battery as the main power energy. The electric bikes usually have treadles, in case of low battery, it can be driven by human. Currently, the battery type is mainly lead-acid batteries, but the lithium ion battery has a tendency to replace lead-acid battery. A combination of various macro-economic and micro-economic factors continue to shape the Global Electric Bike Market. Consistent advancements in technology have enabled the development of comfortable, environment-friendly electric bikes. Demand for electric bikes is also positively influenced by increasing awareness among consumers about the need to reduce their carbon footprint.
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Global Electric Bike Market-Drivers and Restraints:
Extended government support and implementation of strict rules in various geographies has pushed the sales of electric bikes. In metro cities, especially in North America and European countries, the concepts of public charging infrastructure and rental service for electric bikes is on the rise. Increasing investments on the research and developments by several market players, to develop new high-performance vehicles has played a crucial role in fueling the adoption of electric bikes. Moreover, manufacturers are pushing sales of electric bikes by positioning their product as environment friendly, which not only reduces the greenhouse effect as they reflect low tailpipe emissions. However, certain factors pose challenges to the growth of the Global Electric Bike Market. Electric bikes are highly priced and cannot be afforded by all. As these bikes run on batteries, they require frequent charging, which remains a challenge owing to the limited number of charging stations. Also, maintenance of the product is of utmost importance, which also requires proper charging infrastructure. High maintenance cost is another key factor that dissuades consumers from buying electric bikes.
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Global Electric Bike Market-Geographical Segmentation
The electric bikes are geographically segmented into North America, Asia Pacific, Europe, and Rest of the world. Amongst these, the Asia Pacific region is dominating the electric bicycle market. Presence of developing nations such as China, Japan and India is one of the major factors driving the electric bicycle market.
Key Players in this Global Electric Bike Market Report:
The key players in electric bicycle market are NYCeWheels (U.S), Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Moustache Bikes (France), and Jiangsu Xinri e-Vehicle co., Ltd (China). myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K), Pedego Electric Bikes (California), and A2B Electric Bikes (U.K).
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