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The global electric bike (e-bike) market size is projected to reach USD 10.90 billion by 2027. The rising traffic congestion in developing countries worldwide is set to surge demand. This information is given by Fortune Business Insights™ in a new report, titled, “Electric Bike (E-bike) Market Size, Share & COVID-19 Impact Analysis, By Battery Type (Lead Acid, Lithium ion, Nickel-Metal Hydride and Others), By Propulsion Type (Pedal Assist and Throttle) and Regional Forecasts, 2020-2027.” The report further states that the global market stood at USD 10.05 billion in 2019. It is set to exhibit a CAGR of 8.4% during the forecast period between 2020 to 2027.
Pedego® Electric Bikes Unveils Pedego Patroller Edition Mountain Bike
In March 2019, Pedego® Electric Bikes, a manufacturer, headquartered in California launched its high-performance electric mountain bike named the Pedego Patroller Edition. It is specially designed to empower safety & security personnel, as well as law enforcement as they protect. The new bike was exhibited at the 29th Annual Conference of International Police Mountain Bike Association (IPMBA). It can reach those places where police motorcycles and cars cannot. Unlike the conventional bikes, it helps officers to cover more distances.
As per a company official, “Our latest Pedego bikes can be used for patrols, especially during summer and spring when the population is high. They can also be used to protect wildlife. Officers can catch deer poachers efficiently.”
To get a detailed report summary and research scope of this market, click here:
Rising Development of Environmentally-friendly Vehicles to Spur Growth
The governments of various countries worldwide are imposing strict rules and regulations on manufacturers and are compelling them to create vehicles with zero emissions. Their main aim is to reduce the emissions of greenhouse gas in the atmosphere. Many original equipment manufacturers (OEMs) are also investing hefty amounts of money in innovating e-bikes. This factor is anticipated to boost the electric bike market growth in the coming years. However, the outbreak of the COVID-19 pandemic may decline the demand these bikes owing to the lockdown and social distancing measures globally.
Key Players Aim to Develop Novel E-bikes to Gain a Competitive Edge
The prominent companies are striving to expand their geographic footprint by launching their e-bike showrooms in the desired locations. Some of the others are trying to study the latest trends and develop new vehicles as per the consumer requirements. Robert Bosch GmbH is a major player in the market. It is constantly developing state-of-the-art electrical components to maintain its position.
Fortune Business Insights™ presents a list of all the reputed e-bike manufacturers operating in the global market. They are as follows:
A Significant Industry Development-
Further Report Findings-
The global market is segmented in the following way:
Value (USD Billion) & Volume (Thousand units)
By Battery Type
By Propulsion Type