Global electric bicycle market is anticipated to grow at a CAGR of 4.8% during the forecast period (2024-2031). The growing investment in Gigafactories to produce e-bicycle to meet the growing demand for alternative mode of transportation is a key factor driving the growth of the global electric bicycle market. For instance, in May 2024 EMotorad e-cycles announced setting up world's largest electric bicycle manufacturing plant in Maharashtra, India. Covering a 2,40,000 sq ft in Phase 1, EMotorad's gigafactory will produce all giga components, including batteries, motors, displays, and chargers critical elements in EV production and a significant leap forward for the startup. With an initial production capacity exceeding 5,00,000 e-cycles annually, the gigafactory aims to meet the growing demand for alternative modes of transportation.
Browse the full report description of “Electric Bicycle Market Size, Share & Trends Analysis Report by Propulsion Type (Pedal Assist, and Throttle), by Battery Type (Lead Acid, Lithium-ion, and Others), and by Application (City/Urban, Mountain/Trekking, and Cargo/Luggage) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/electric-bicycle-market
Further, in May 2024, DYNEM announced to manufacture EV components like batteries, motors, displays, and chargers in-house starting by August 2024. In line with industry 4.0 standards and built on Gen-2 platforms, the gigafactory is slated to amp up production to 4X by the end of its four-year completion.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Propulsion Type
o By Battery Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Aima Technology Co. Ltd., Yadeo Group Holdings Ltd., Giant Manufacturing Co. Ltd., Hero Cycles Ltd., and Robert Bosch GmBH, among others.
Key questions addressed by the report.
Global Electric Bicycle Market Report Segment
By Propulsion Type
By Battery Type
By Application
Global Electric Bicycle Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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