The regions covered in the electric bikes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Europe is expected to be the fastest-growing region in the forecast period. The electric bikes market is expected to reach $53.23 billion in 2025 at a CAGR of 9.9%.Īsia Pacific was the largest region in the electric bikes market in 2020. The change in growth trend of the electric bikes market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The global electric bikes market is expected to grow from $32.54 billion in 2020 to $36.52 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. Therefore, the implementation of government regulations to encourage electric bikes drives the ebikes market. Furthermore, in 2021, the California state budget committed $10 million to the Air Resources Board to implement the e-bike rebate program by July 2022. Electric bikes have longer range and are easier to use, allowing users to travel without sweating, pull bigger loads, run more errands, and take longer journeys.įor instance, in 2021, the FAME India Scheme (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles) was implemented with a budget of $1.36 billion and it focuses on the electrification of public and shared transportation. 17, 2021 (GLOBE NEWSWIRE) - Huge end-of-the-year sale with discounts on ALL market research reports at The Business Research Company! Grab your deal now.Īccording to The Business Research Company’s research report on the electric bikes market, the implementation of government regulations to encourage the use of electric bikes is expected to propel the growth of the ebikes market in the coming years. It covers three five-year periods, including 2015 to 2020, termed the historic period, 2020-2025 forecast period and 2025-2030 a further forecast period.
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This report describes and evaluates the global electric bikes market.