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Several countries are improving urban transportation and logistics' environmental and economic sustainability. This lays a crucial foundation for electric bike manufacturers to expand their footprints. Thus, the introduction of e-bikes has enabled commuters to opt for an eco-friendly yet affordable mobility solution, resulting in growth for the e-bike market. Because of the growing awareness of climate change, governments are expected to invest in large-scale cycling infrastructure in the near future, increasing the expansion of e-bikes. Electric bikes have also shown to be a potential form of logistics for crucial commodities during natural disasters, as government disaster relief agencies have witnessed. Furthermore, E-mobility has risen to prominence due to the growing trend of sustainable tourism. In recent months, as economic activity had picked up with the relaxation of COVID-19 limitations in several countries, the need for low-carbon micro-mobility for covering crucial short distances has increased. The prospects for e-bikes have improved as a result of this. Several tourists visiting developed-country cities have expressed an interest in e-bikes. The expanding footprint of two-wheelers' sales in developing economies is also likely to generate substantial opportunities in the electric bike market.
Many product developments are initiated by the companies, which also accelerate the growth of the e-bike market. For example, in July 2018, Accell Group (OTCMKTS: ACGPF) acquired Velosophy. Velosophy is a Dutch company focusing on e-cargo bike solutions. This acquisition allowed Accell group to increase the production of cargo bikes and increased the company's product portfolio and customer base.
Market Analysis by Type, Drive Units, Battery, Applications, and Countries:
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The major players in the Europe e-bike industry are Accell Group, Riese & Müller GmbH, Derby Cycle, Powabyke UK Ltd, and QWIC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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