APAC E-Bikes Market To Grab Immense Growth At Fastest CAGR 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on June 29th, 2022 The APAC e-bikes market size is expected to reach USD 125.9 billion by 2030, expanding at a CAGR of 15.6% over the forecast period, according to a study conducted by Grand View Research, Inc. The increasing adoption of e-bikes among the young population, the increasing purchasing power of the middle-class population in developing countries, and rapid urbanization are expected to significantly drive product demand across the region. The demand for e-mountain bikes has significantly increased over varieties such as cargo and city/urban e-bikes over the past few years. This can be attributed to the fact that e-mountain bikes are suitable for off-roading, as their robustness allows for a safe riding experience even on slippery and wet terrain. Moreover, their strength makes them desirable for road traffic, encouraging their use for regular commute for shopping or work purposes in most cities. Increasing urbanization and the low inclination of consumers toward the use of cars due to increased traffic on roads are projected to offer lucrative opportunities for market growth. Furthermore, governments of various countries, including China and India, are focusing on developing bicycle infrastructure due to the increasing preference of consumers toward e-bikes. The infrastructure includes public charging stations and bicycle tracks. For instance, Sanyo introduced two solar parking garages in Tokyo and provided 100 electric hybrid eneloop bikes in Tokyo, Japan. Key players in the Asia Pacific e-bikes market include Merida Industry Co. Ltd, Yamaha Motor Company, Aima Technology Group Co. Ltd., Yadea Group Holdings Ltd., Pedego Electric Bikes. These players focus on new product launches to enhance their product offerings. For instance, In July 2020, Yamaha Bicycles announced the launch of the new electric power-assist bicycle, Civante Class 3. The launch assisted the company in expanding its product line of fitness-focused road bikes. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/asia-pacific-e-bikes-market-report/request/rs1
APAC E-Bikes Market Report Highlights
The prominent players in the APAC market for e-bikes include Aima Technology Group Co. Ltd., Pedego Electric Bikes, Merida Industry Co. Ltd, Yadea Group Holdings Ltd., and Yamaha Motor Company. These players focus on geographic expansion and new product launches to enhance their presence in the market and gain a competitive edge. Such initiatives also assist these companies in enhancing their market presence, product offerings, and brand awareness. Leading market players also focus on initiatives such as mergers and acquisitions, agreements and contracts, and partnerships with technology companies to enhance their positions in the market. For instance, in November 2022, Pon. Bike acquired Urban Arrow, the Dutch e-cargo bike brand. The acquisition assisted the company in enhancing its product portfolio. Similarly, in October 2020, e-bikes provider Pedego Electric Bikes announced the opening of a Pedego E-Bikes store in Boca Raton, Florida. The store offers a wide range of electric bike rentals, sales, accessories, and services. Some of the prominent players operating in the APAC e-bikes market are:
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