PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269662
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269662
Global E-bike Charging Station Market is valued at approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. An electric bike is a combined motor-driven mechanism and a battery that generates energy for locomotion. Electric bikes are available all over the world, ranging from those with small electric motors that aid the rider's pedal force to more powerful motorcycles that can create energy to propel the bike using the throttle. They are a fashionable, versatile, adaptable, and environmentally responsible mode of transportation. Customers think of them as a great alternative to cars, scooters, and public transportation. These bikes serve to alleviate traffic congestion because they are smaller in size, reach higher speeds with less effort, and provide health advantages through cycling. The E-bike Charging Station Market is expanding because of factors such as growing demand for electric vehicles and stringent emission restrictions are driving market demand across the world.
According to the International Energy Agency (IEA), over 2.1 million electric vehicles were sold in 2019, accounting for around 2.6% of the worldwide vehicle. Additionally, they represented roughly one per cent of global automotive stock in 2019, representing a 40% year-on-year rise over 2018. Furthermore, advances in technology, particularly in battery technology, are permitting the rapid electrification of trucks, buses, and other vehicles. Also, the government subsidies for charging infrastructure and increasing demand for eco-friendly transportation will provide lucrative growth opportunities for the market during the forecast period. However, a slow charging mode of electric bike charging stations stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global E-bike Charging Station Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. In terms of revenue, Asia Pacific dominated the market owing to the region's early adoption of innovative technologies as well as the presence of large businesses in this region, low-cost batteries, and cost-effective components essential for e-bike charging infrastructure have been developed. China is the largest manufacturer of electronic components; it is expected to dominate the market during the projection period. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period owing to an increase at an exponential rate. The development of a dockless charging infrastructure for an e-bike is a priority for key players in this region. Some of the primary factors driving the market include product innovation, eye-catching design, fully integrated batteries, and the use of high-quality materials. Companies such as Bosch are partnering with local governments to construct charging stations, particularly for mountaineers who need to charge their e-bikes outside of city borders because there are no charging stations available. North America is expected to have significant market expansion. Increasing government initiatives and a growing customer preference for zero-emission automobiles would increase the industry in this region.