Market Insights report
As the demand for sustainable transportation options continues to rise, electric bicycles are gaining popularity among consumers. In 2023, the Electric Bicycles market generated a total revenue of US$34 billion. We forecast that revenues will reach a compound annual growth rate (CAGR) of 14.7% between 2015 and 2029.
What's included?
The Electric Bicycles market has experienced notable growth in the past few years. With rising environmental
concerns and the trend towards greener transportation, the market is expected to experience a surge in demand in the coming years.
The report covers the Electric Bicycles market which includes the number of electric bicycles sold, the average price paid per bicycle, revenue, and revenue growth in different regions around the world.
Electric bicycles, or e-bikes, have rapidly gained popularity as a transformative mode of transportation. These innovative two-wheelers seamlessly blend the convenience of traditional bicycles with electric-powered assistance, offering riders an extra boost as they pedal. E-bikes are celebrated for their ability to make commuting more accessible, especially in hilly terrains or over longer distances. In 2023, over 50% of the bicycles sold in Germany were electric showing the growing popularity of electric bicycles around the world.
We forecast that unit sales in the Electric Bicycles market will reach a compound annual growth rate (CAGR) of 14.7% between 2015 and 2029. Among the countries, China generated the highest revenue in 2023.
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