Discover APAC E-Bikes Market Upcoming Trends, Growth Drivers And Challenges – Forecast To 2030Posted by Mrudula Karmarkar on January 5th, 2023 The APAC e-bikes market size is expected to reach USD 35.27 billion by 2030, expanding at a CAGR of 11.9% 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 commutes for shopping or work 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., and 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. Governments of several countries in the region, including India and China, are taking initiatives to reduce their carbon footprints by encouraging the use of electric vehicles, electric bikes, and bicycles. The surge in awareness about the harmful effects of vehicles that run on fossil fuels is also encouraging this trend. Additionally, governments emphasize constructing bicycle-friendly streets, thereby encouraging individuals to choose bicycles as a key mode of commute. Electric motorcycles, scooters, and bicycles have gained considerable attention from several governments as efficient and reliable Light Motor Vehicles (LMVs) reduce the carbon footprint. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/asia-pacific-e-bikes-market-report/request/rs1 The Asia Pacific e-bikes market witnessed negative growth during the first half of 2020 due to the escalating number of COVID-19 cases. The varying degrees of lockdowns and movement restrictions implemented globally amid the COVID-19 pandemic led to the temporary closure of several assembly and manufacturing units. However, with an increasing number of travelers preferring to avoid public transportation due to the pandemic, the demand for e-bikes as a convenient, affordable, and safe alternative to public transportation has substantially increased. The demand is also anticipated to benefit from the various technological advancements in the field. Connected e-bikes, for instance, feature the SIM module that allows the e-bike to receive and send data across the cloud without connecting to a smartphone. Connected e-bikes also offer features such as integrated navigation, remote diagnostics, automatic emergency calls, anti-theft systems, and social media connectivity. Robert Bosch GmbH is among the leading players in the e-bike marketplace offering connected electric bikes. For example, Smartphone Hub via Bosch can link e-bikes with a smartphone and support the riders throughout their journey. APAC E-Bikes Market Report Highlights
Electric bikes are a versatile, flexible, trendy, and eco-friendly mode of transport. Users look up to these bikes as an ideal substitute for scooters, public transportation, and smart cars. Electric bikes help minimize traffic congestion due to their smaller form factor, their ability to attain greater speed with minimal effort and offer health benefits accomplished via peddling. These aspects are projected to support the popularity of electric bikes across the region. Factors such as the implementation of government guidelines to boost the use of electric bikes, increasing fuel costs, consumer inclination toward the use of e-bikes as an efficient and eco-friendly solution for commuting, and growing interest in cycling as a recreational and fitness activity are anticipated to drive industry growth. However, the high cost of e-bikes and the ban on the use of these bikes in several major Chinese cities could hamper the market growth. Furthermore, developments in battery technology and bicycling infrastructure are projected to provide lucrative growth opportunities. List of Key Players in the APAC E-bikes Market
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