Electric Bike Market Trends Steering the Future of Two-Wheeled Mobility
Fat Wheel Electric Bike Market Overview
Current Market Size and Value
Despite differences in the specific figures provided by fortunebusinessinsights.com and precedenceresearch.com, it is clear that the global fat wheel electric bike market is undergoing significant expansion. According to fortunebusinessinsights.com, the ebike market, valued at USD 37.47 billion in 2022, is anticipated to grow from USD 43.32 billion in 2023 to USD 119.72 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 15.6%. However, precedenceresearch.com offers a different estimate, suggesting that the fat wheel electric bike market, valued at USD 18.66 billion in 2022, is expected to rise to over USD 40.98 billion by 2030, representing a CAGR of 9.6%.
This sharp incline is no doubt influenced by advances in bike technology, especially rechargeable batteries, as well as the rising societal preference for e-bikes as a cost-efficient and environmentally sound means of transportation.The e-bike wave gained momentum amidst the COVID-19 pandemic, as traditional public transportation methods lost appeal. This shift towards a safer, personal mode of transportation was the driver for an increase in e-bike demand and higher sales for major industry players. In turn, this has resulted in a rapidly expanding fat wheel electric bike market, positioning it as a major player in the future of urban mobility.
Regional Market Share Analysis
The fat wheel electric bike market is witnessing varying levels of growth across different regions. Among all regions, Asia-Pacific is observed to be the main protagonist in the growth narrative, having contributed to around 81% of the global fat wheel electric bike market revenue. This region’s dominant position is largely a result of extensive bicycle infrastructure, heavy vehicular traffic, and strict emission regulations, with key market players located in countries such as China, India, and Japan. Notably, China alone is responsible for more than 90% of the world’s e-bike production, making it the primary force in the Asia-Pacific’s e-bike surge.
The Middle East & Africa region, although still in the early stages of e-bike adoption, is showing promising signs of quick development. This is mainly attributed to the fast-paced development of micro-mobility infrastructure and escalating demand for bike-sharing platforms in the region.Lastly, North America is also predicted to observe impressive growth. The rise in e-bike usage, coupled with city landscape alterations and changes in infrastructure to accommodate two-wheelers, is driving this trend.
Opportunities for Growth & Market Expansion
The fat wheel electric bike market has an optimistic future, with promising opportunities in traveling, exercise, and recreational activities. According to a Lucintel report, the global fat wheel electric bike market is expected to grow at a CAGR of 14.1% from 2021 to 2027. And what’s impacting this rise? Well, people are getting health-conscious, traffic jams are a pain, and we all worry about the environment. Not to forget, governments are pushing for more bike riding to cut down those nasty carbon emissions. What’s new on the block? Luxury folding e-bikes and the ones that sync with your smartphone are turning heads. When it comes to the types of e-bikes, cargo e-bikes are in the spotlight. They’re great for delivering parcels on time. And where is this e-bike wave the biggest? In the Asia-Pacific. Thanks to governments promoting healthy living, better cycling facilities, and people choosing e-bikes for clean travel.
The at wheel electric bike (e-bike) is a low-emission mode of transportation that offers benefits in health, time, cost, safety, congestion, air & noise pollution, and energy security. Fat wheel electric bicycle are a more efficient alternative to other means of transportation. In everyday life, the fat wheel electric bike can beused instead of cars in many situations, such as shopping for a cargo. Bicycles and fat wheel electric bike have significantly lower emissions than other modes of transportation.Hence, to meet the carbon emission targets and encourage more and more people to opt for cycling, governments are introducing various incentives and rebate programs. Countries like The Netherlands, Germany, Belgium, Brussels, the UK,France, Paris,Denmark, etc., are taking initiatives to boost e-bike sales.
So Welcome to join low-carbon transportation fat wheel electric bike family!!!
-Gravity Ebikes
info@gravitysz.com
26th/01/24