The Europe Electric Bike Market would witness market growth of 11.1% CAGR during the forecast period (2020-2026). Bike-sharing is a new & thrilling means of public & private transportation that has witnessed high advancement & popularity in the last few years. One of the key trends in the market is the increasing preference of consumers towards the concept of e-bike sharing. These bikes provide various advantages as compared to traditional bikes.
These advantages include they decrease the energy consumption of the rider, expand the driving distance, & are pretty simple usage in hilly areas. With the rising tourism & adventure sector, bike-sharing is gaining high prominence among companies & universities alike. Various big companies across the world have created a bike-sharing alternative for their workers, which aid them to travel from one manufacturing unit to another.
One of the pressing environmental concerns is the increasing greenhouse gas emissions. Makers face severe regulations which are formulated by numerous governments around the world to create vehicles with zero emissions. Leading OEMs have put hefty investment in R&D activities with an aim to create eco-friendly vehicles. The regulatory bodies of the emerging countries have introduced several subsidies, like tax-free purchases of electric bicycles. Consumers are encouraged to purchase electric bicycles due to the various tax-free concessions given by the government, which, as a result, would fuel the growth of the electric bicycle market during the forecast period.
The Germany market dominated the Europe Pedelecs Electric Bike Market by Country in 2019, growing at a CAGR of 8.9 % during the forecast period. The UK market is exhibiting a CAGR of 9.3% during (2020 - 2026). Additionally, The France market poised to witness a CAGR of 11% during (2020 - 2026).
The Hub Motor market dominated the Spain Electric Bike Market by Drive Mechanism in 2019, thereby, achieving a market value of $1,020.4 million by 2026. The Mid-drive market is showcasing a CAGR of 13.7% during (2020 - 2026). Additionally, The Others market is expected to witness a CAGR of 16.4% during (2020 - 2026).
Based on Drive Mechanism, the market is segmented into Hub Motor, Mid-drive and Others. Based on Battery Type, the market is segmented into Lithium ion (Li-ion), Lead Acid and Others. Based on Product, the market is segmented into Scooter/Motorcycle, Pedelecs, Throttle on Demand and Speed Pedelecs. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: Electric Bike Market in Europe is expected to register a CAGR of 11.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accell Group, Mahindra & Mahindra Limited (Mahindra Group), Yamaha Motor Co., Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Derby Cycle AG (Pon Holdings B.V.), Fuji-ta Bicycle Co., Ltd., Trek Bicycle Corporation, Tianjin Golden Wheel Group Co., Ltd., and Wuxi Truckrun Motor Co., Ltd.
By Drive Mechanism
By Battery Type
By Product
By Country
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