The electric bicycle market is projected to reach 27,187.9 million USD by 2023, at a CAGR of 8.8% between 2023 and 2030. The growth in the market size is driven by the increasing demand for eco friendly and efficient solution for commuting as well as owing to government support and strict rules in favor of electric bikes.The growth is also associated with the steady demand in US and Europe, decrease in the cost of manufacturing with the advancement of cutting edge technologies and outsourcing manufacturing thus decreasing costs of production.

Published Date : 06-01-23 | Pages : 125 | Price : US 4500