Electric Bikes and Scooters Global Market Report 2023

Major players in the electric bikes and scooters market are Yadea, Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., BMW, Hero Electric, Yamaha, Sunra, Vmoto Limited, AIMA Technology Co. Ltd, Zhejiang Luyuan Electric Vehicle Co.

New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Bikes and Scooters Global Market Report 2023" - https://www.reportlinker.com/p06280938/?utm_source=GNW Ltd., Terra Motors Group, Prodeco Technologies Llc.The global electric bikes and scooters market is expected to grow from $20.71 billion in 2021 to $23.38 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The electric bikes and scooters market is expected to grow to $30.27 billion in 2026 at a CAGR of 6.7%.The electric bikes and scooters market consist of sales of e-moped and e-cycles.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Electric bicycles, often known as e-bikes or eBikes, are motorized bicycles with built-in electric motors that help with propulsion. Electric scooters frequently resemble motorcycles and are plug-in electric vehicles with two or three wheels and an electric motor.Asia Pacific was the largest region in the electric bikes and scooters market in 2022.This region is expected to remain the largest during the next five years.The regions covered in the electric bikes and scooters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.The main types in the electric bike and scooter market are electric bikes and electric scooters.An electric bike is a bicycle equipped with an electric motor that is activated to assist with or replace pedaling.The battery types involved are lead-acid, lithium-ion (li-ion), nickel-metal hydride (NiMH), and others.The voltage capacity involved is 48-59V, 60-72V, 73-96V, and above 96V.The drive mechanism types involved are hub motors, mid-drives, and other mechanisms.Increasing awareness about pollution is a key driver of the electric bike and scooter market.This is because more people now understand the importance of reducing pollution, and this awareness has led them to look for more environmentally friendly modes of transportation that minimise and control pollution.For example, according to a survey published by Forbes, due to an increase in awareness about pollution, the sales of electric bikes (e-bikes) have exceeded those of non-electric bikes in the Netherlands. The growth in the adoption of electric bikes and scooters is expected to continue in the coming years as the carbon dioxide emitted by the burning of fossil fuels remains a major threat to the environment, causing global warming and climate change.The lack of infrastructure for battery charging is a major restraint on the electric bike and scooter market.This is mainly because a lack of sufficient bike or scooter charging stations leads to a scarcity of battery charging stations and discourages people from purchasing electric bikes or scooters.For instance, according to express drive data 2021, electric two-wheelers are popular in India.However, the sales of electric two-wheelers remain way lower than conventional petrol ones.We don’t have an appropriate EV ecosystem and the charging stations are in very small numbers. So, in a bid to encourage people to buy EVs and to develop the EV ecosystem in India, eBikeGo has announced that they will install one lakh smart IoT-enabled charging stations in seven Indian cities.Improving battery technology is an emerging trend in the electric bike and scooter market.One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters.The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes.The electric bike and scooter market is regulated by the U.S. Congress enacted Public Law sections 107-319 and 107-322. This law pertains to the amendments required for the consumer product safety act and defines stern regulations to be followed in retrospect to the speed of electric bikes. According to this law, the electric motor of the vehicle must be less than 750 watts, and the maximum speed of the bike driven by a person weighing 170 pounds should not exceed 20 mph. To comply with this law, the U.S. Consumer Product Safety Commission (CPSC) considers, approves, and certifies bikes that meet this definition for manufacture and sale at the federal level. Hence, regulations such as these regulate the electric bike and scooter market.In July 2022, the Rohatyn Group, a US-based asset management firm, acquired KJK Capital for an undisclosed amount.Through this acquisition, Rohatyn Group will expand in e-bikes.KJK Capital is a Europe-based manufacturer of electric bikes.The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.The electric bikes and scooters market research report is one of a series of new reports that provides electric bike and scooter market statistics, including global market size, regional shares, competitors with an electric bike and scooter market share, detailed electric bike and scooter market segments, market trends and opportunities, and any further data you may need to thrive in the electric bike and scooter industry. This electric bikes and scooters market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06280938/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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