Electric Bikes Market to Garner $118.65 Bn, Globally, by 2030 at 10.5% CAGR: Allied Market Research
- Increase in fuel costs and advent and implementation government regulations to encourage the use of electric bikes have boosted the growth of the global electric bikes market.
- - Increase in fuel costs and advent and implementation government regulations to encourage the use of electric bikes have boosted the growth of the global electric bikes market.
- As per the report, the global electric bikes industry was pegged at $40.31 billion in 2019, and is projected to reach $118.65 billion by 2030, growing at a CAGR of 10.5% from 2020 to 2030.
- However, ban on use of e-bikes in major cities of China and high cost of e-bikes hinder the market growth.
- On the contrary, improvement in bicycling infrastructure & battery technology is projected to open lucrative opportunities for the market players in the future.