According to Precedence Research, the global ebike industry is expected to be roughly US$ 40.98 billion by 2030, with a notable CAGR of 9.6% between 2021 and 2030. In 2021 the ebike market was valued at only US$17.56 billion. The increasing demand shows that people are more likely to buy eBike as a substitute for cars or scooters.
The reason for the popularity of the eBike is manifold. People find it more comfortable, fast and the best alternative to electric cars and motorcycles. Electric bikes come at an affordable price and give faster solutions for its user.
The significant popularity of ebikes has been seen in Canada and USA. In Canada, many companies started renting eBikes for their employees, and many companies started electric bike shops for the prospective users. In the ebike online shops, buyers can get all kinds of electric products. These include conversion kits, electric scooters, parts and accessories, Snowbikes and snow conversion kits.
eBike is environmentally friendly. It reduces carbon emissions that saves our environment from the greenhouse effect. According to another research, If only 8% of Americans replaced their short-distance vehicle trips with electric bikes, it would save 44,000 metric tonnes of CO2 daily. If half of all Americans make a move, reductions of up to 273,000 metric tonnes of CO2 per day might be realized.
When asked, the marketing manager of one of the best eBike shops in Canada said, “ eBike is the next generation vehicle. It offers both sustainability and fast transportation at an affordable price. eBike is the perfect solution for environment lovers who are looking for an affordable solution for their transport. We believe the demand for the electric bikes could increase more if we can facilitate the availability of the eBike resources more. We are happy that our company is taking steps into this where our customers can get all e-bike solutions from the comfort of their home.”
When asked, one ebike user said, “This is my favorite vehicle. I can save my time, the environment, and my health. Nowadays, ebikes provide faster-charging abilities that make them more lucrative for me. With just a single charge, it supports my all-day transportation needs. The best part of the eBike is that I can paddle if it loses its charge in the middle, and it also gets charged by paddling, which means that even if I lose charge, I don’t have to wait in the middle. I still can move to my destination. This is great!”
However, experts think the market for the ebike could be more if barriers in the supply chain could be removed from the market. They suggested that there should be more public charging facilities that could boost the overall consumption of electric bikes. However, ebike accessories and the service station should be more to tackle the market demand. The market could be much higher than expected if all these dots are connected.
CONTACT:
Ajay A.
eBikeBC
1685 Ingleton Ave, Burnaby, BC V5C 3V6
1-604-330-2293