The North America Electric Bike Market would witness market growth of 11% CAGR during the forecast period (2020-2026). An electric bike contains an in-built electric motor, a battery, & a controller and these components play a crucial role in forwarding propulsion. It utilizes rechargeable batteries, and these batteries are of various capacities based on their size.
Electric bikes come in different formats such as peddle assist, throttle on demand, speed pedelecs, and electric moped or motorcycle. Some of the factors that would drive the growth of the electric bikes market are the supportive government initiatives for electric bikes and the formulation of strict laws regarding CO2 emission.
In addition, the market growth is supplemented by the growing consumer preference towards the utilization of e-bikes as an environment-friendly & effective option for commute and rising fuel costs. Moreover, the electric bike market would witness various growth avenues due to the increasing inclination towards cycling as fitness & recreational activity and development in cycling infrastructure & battery technology.
In recent years, the domain of e-bikes has witnessed various technological developments as these bikes are getting highly popular globally. One example of these developments is the connected e-bike, in which the SIM module feature allows the e-bike to send & receive information to & from the cloud without the need for a connected smartphone. Automatic emergency calls, social media connection, in-built navigation, remote diagnostics, & an anti-theft system are some of the prominent features of the connected e-bike. For example, SmartphoneHub by Bosch is capable of connecting electric bikes to a smartphone and help the riders before & after their journey.
The US market dominated the North America Mid-drive Electric Bike Market by Country in 2019, and would continue to be a dominant market till 2026. The Canada market is experiencing a CAGR of 14.2% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 13.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Electric Bike Market in North America is expected to register a CAGR of 11% 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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