The electric bike market is expanding globally, driven by eco-friendly tech, government initiatives, and new product launches. The UK and US lead in promoting e-bike usage.
The electric bike market is set to grow and leverage future opportunities. Elelctric bikes are versatile, eco-friendly, trendy, and hence, the demand for these bicycles is increasing. They are looked at as ideal alternative for scooters and public transport. Governments and market players across the world are taking initiatives to leverage the growing demand for electric bikes.
Factors such as the deployment of government regulations, rise in fuel costs, and increasing interest in cycling as fitness & recreational activity is expected to drive the electric bike market growth in the post-COVID world.
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Apart from these factors, trends such as launching new products, improvising and updating existing e-bike technologies, government initiatives, and partnerships are impacting the electric bike sector across the globe. Another exciting trend driving the market is increasing focus on children. Many known bike manufacturers are producing bikes to motivate children to use them. Electric bikes are smart, fast and safe and this is motivating many parents to purchase e-bikes.
Government initiatives:
Governments across the world are making efforts to become a zero-emission country in which people lead an eco-friendly lifestyle. Countries such as the U.K. are leading this trend and motivating many other nations to walk on the same path.
As per the new Welsh Government pilot scheme, residents of Rhyl and the surrounding area can borrow electric bikes for free. The scheme is funded with £1 million and aims towards aiding local residents to swap their car or motorcycle for a bike.
The initiative is backed by an electric bike loan scheme of Sustrans. The project offers a range of battery-powered electric bikes for free, or on long-term loans to local residents. The motto is to motivate them to cycle regularly.
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The scheme is launched for two years at five locations such as Swansea, Rhyl, Newtown, and Barry. The Welsh government will gather all the required data from this project and use it to facilitate the long-term use of electric bikes.
While the U.K. is leading the trend actively, the U.S. is not lagging behind. The country is taking steps to popularize the use of electric bikes among regular bike riders. Missouri Department of Conservation is one example of this.
Electric bicycles riders are a step closer to seeing extended uses on Missouri Department of Conservation areas.
The Conservation Commission has given an initial approval to proposed regulation changes to MDC. Cycling on MDC’s 1,100 conservation areas is presently prohibited on service roads.
The new rules will impact about 300 MDC areas, which would let bicycles and electric bikes use service roads along with multi-use trails.
Dealers’ changing preferences for electric bikes:
Many dealers of bikes are keeping stocks of electric bikes in their store, especially in countries like the U.K. This change in distributors’ behavior is in line with the estimations and expectations of market experts. Many market research reports expect the global electric bike market to grow. As per Allied Market Research, the global electric bike market is expected to reach $118,657 million by 2030, manifesting a CAGR of 10.5% from 2020 to 2030.
Here is an update shading some light on this trend.
As per the recent news, electric motorbikes and scooters are being sold in record numbers in the U.K. The Motorcycle Industry Association (MCIA) calls it a busting performance. The sales figures are more than what they were the previous year.
Most of the sales come from the category of 1-4KW or up to 50cc. Many motorcycle dealers are ready to stock at least a few battery-powered bikes as they wish to leverage this changing customer preference.
One of such leading distributors is the English Electric Motor Co.
This Diss-based company is presently the biggest electric dealer in the U.K. The company offers road and off-road bikes of eleven makers including Niu, Energica, Zero Motorcycles, Super Soco, Horwin and UBCO. It also offers multiple brands of models for children. The company is planning to launch an E-rider training school to introduce users to the bikes of the future.
Futuristic electric bikes are focusing on children:
In Australia, the loss of motocross tracks is threatening many motorcycle lovers. These tracks are getting shut due to the noise they cause in urban areas.
Young MX riders are future motorcyclists. Allowing kids on motorcycles helps them develop hand-eye coordination, alertness, and balance.
However, expanding urban areas are creating hurdles for the presence and extension of motocross tracks in some states of Australia.
However, with the growth of electric motorcycles and balance bikes for children, the problem can be solved.
Many known manufacturers are now launching electric bikes. French motorcycle manufacturer Sherco is one of the leading names in this sector. It offers factory electric enduro models and now expanding to an electric balance bike range.
Talking about the launches of new e-bikes, the latest update comes from BMW. The company has introduced a new electric bike that boasts a futuristic design that will allow it to go at a top speed of 90km/hour in a single charge. This CE-02 mini-bike was introduced by the BMW Motorrad division in Germany. The Motorrad division has been working on a futuristic vehicle concept for many years now.
The article discusses the growth of the global electric bike market driven by eco-friendly technology and new product launches.
Governments are implementing regulations and initiatives to promote e-bike usage, aiming for eco-friendly transportation solutions.
Trends include new product launches, tech updates, and increased focus on children's e-bikes.
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