Latest research by cycling market analysts Persistence forecasts a 6,3% annual growth for the global electric bicycles market. This means that by 2025 this market will grow by more than 60%.
Persistence made a similar study in 2017. The annual growth of the electric bike market was estimated at 3,4%. The adjusted forecast includes the active growth of the US e-bike market.
The boost in the electric bike market is easy to explain. The increase of fuel costs, convenience of using electric bikes in everyday commuting, cheap e-bike service, big variety of e-bike brands – all this influenced the choice of the end consumers.
Another significant reason for the electric bike market boost is the continuous growth of tourism. E-bikes reveal greater logistics opportunities. Europe is in big demand for electric bikes for tourism purposes. Millions of tourists come to Europe annually, which results in growing demand for electric vehicles as alternative transport means. Asia Pacific region demonstrates the strong growth of demand for electric vehicles for tourism purposes too.
Environmental pollution is one more significant reason to go electric. Initiated by governments mostly, people are encouraged to use more eco-friendly transport means.
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