According to the latest report by IMARC Group, titled " India E-Bike Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Indian e-bike market exhibited robust growth during 2016-2021. E-bike refers to a type of bicycle that is generally equipped with rechargeable batteries and electric motors to produce power for propulsion. Additionally, it also consists of throttles, display, pedals, sensors and a motor controller. An eco-friendly mode of transportation that usually operates on electric power, it offers excellent speed and safety in a cost-efficient manner. In India, the rising participation of individuals in sports and recreational activities and the easy availability of e-bikes through online and offline organized retail channels are creating a positive outlook for the market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India E-Bike Market Trends:???
The market in India is primarily driven by the rising environmental concerns among individuals. This, along with the widespread prominence of adventure activities across the country, has propelled the demand for bicycles as a preferred mode of transportation, which is acting as a major growth-inducing factor. This is supported by increasing investments by leading players for manufacturing efficient product variants with improved mobility and durability. Moreover, there has been a considerable rise in traffic congestion across the country, which has contributed to the widespread adoption of e-bikes among the masses. Furthermore, the increasing health consciousness and the rising awareness regarding the benefits of leading a healthy lifestyle has also provided a boost to the uptake of e-bikes among the common mass. Other factors, including the inflating disposable income level and extensive research and development (R&D) activities conducted by key players to introduce improved product variants, are further contributing to the market growth across India. On account of the aforementioned factors,?the market is anticipated to grow at a CAGR of 12.9% during 2022-2027.
- On the basis of the propulsion type, the market has been bifurcated into pedal-assisted and throttle-assisted e-bikes.
- Based on the battery type, the market has been segmented into lithium-ion and lead-acid batteries.
- On the basis of the power, the market has been classified into less than and equal to 250W and above 250W.
- Based on the application, the market has been categorized into the city and urban, trekking and cargo.
- On the basis of the region, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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