Revolutionary Electric Bikes Flood the Market: Widespread Adoption to Propel Market Growth

There is an increasing adoption of clean technology observed across the world. The growing awareness pertaining to carbon emission coupled with the key regulatory actions carried out by governments in an attempt to reduced pollution and promote electro-mobility are further fostering the efforts towards environment-friendly transportation. As a result of this scenario, the consumers are largely attracted to electric vehicles such as electric bike, electric scooters, and electric cars, thereby boosting the sales of these variants. Amongst these alternatives, electric bikes are an effective solution for tackling not just air pollution, but even noise pollution.

The ever-expanding automotive industry and transportation sector have resulted in the depletion of non-renewable petroleum reserves, thereby resulted in the escalated fuel prices. This scenario will majorly contribute to the increasing adoption of electrically-powered vehicles.

Novel Offerings Raise Performance Standards

With a globally increasing focus on electric bike variants, automotive manufacturers are taking constant efforts to introduce new and highly-efficient electric vehicles. The electric bike market is likely to witness an enormous number of innovations as companies compete to offer best-in-class products to consumers in favor of electrically-powered bikes.

  • Lightweight Electric Bike Introduced to Capture Consumer Attention

Lightweight vehicle trend has emerged a consumers’ favorite, owing to which motorcycle manufacturers are shifting focus towards lightweight electric bike designs.

Harley-Davidson revealed its two new electric bike concepts in an attempt to expand its consumer base. The two electric bikes feature agile handling, premium materials, greater acceleration, and are well suited for city-usage.

  • Foldable Electric Bike: Future of Mobility

Automotive manufacturers are putting ideas into actions with the power of technology. Next-gen vehicles are becoming easy-to-handle, easy-to-carry, and far more efficient than ever. A foldable electric bike is one such revolutionary concept that has been brought to reality.

Backed by its expertise in making foldable bikes, Gocycle has recently unveiled its all-new foldable electric bike that is even more capable compared to its previous models. The electric bike—Gocycle GX is foldable within a few minutes and is designed for people who want to save up space in their offices and homes. From a 300Wh battery to Bluetooth connectivity, the electric bike a break-through offering to the market.

Another effort was taken by a team of engineers from the Chandigarh University, Gharaun in India who designed a portable, lightweight, cost-effective, and durable electric bike. The electric bike is designed with foldable frame and handles, reducing its length to nearly 2 feet 5 inches.

Electronics Companies Foray in the Lucrative Electric Bike Business

The electric bike business is eyed by various companies outside the market, considering the future scope exhibited by the market. Mobile manufacturers are amongst some of these who are foraying into the electric bike market.

Micromax co-founder—Rahul Sharma unveiled plans to venture into the electric motorcycle business under a new entity. The aim is to disrupt the two-wheeler industry by offering an electric alternative to vehicles running on petrol. Sharma believes that the new electric bike would not only be environment-friendly but also a low-cost alternative.

Micromax is not the only electronics product provider eyeing on the electric bike market. Xiaomi entered into the electric bike market in 2018 with the launch of its first electric bike. Ahead of that, the company recently launched its new electric bike— HIMO C20 under the ultra-budget electric bike category. This new electric bike is powered by a rear hub motor, reaching a top speed of 25 km per hour. Moreover, features such as a concealed air pump in the seat tube, LED display, and front and rear LED lights makes it better than the company’s previous model.

Vast Opportunities Sighted in the Asian Market: New Product Launches Observed

The Asian market has offered notable opportunities for the electric bike market owing to which various companies are introducing electric bikes on Asian economies such as India. Companies aim to capture a considerable share of the expanding two-wheeler and bicycle market in India.

With the Indian government’s focus on electric mobility in the wake of elevated pollution levels, a UK-based electric bike maker, GoZero Mobility announced its entry into the electric vehicle market in India. The company unveiled two flagship products—‘One’ and ‘Mile’ electric bikes. The products launch is based on the company’s year-long technology and design development in the UK.

A China-based two-wheeler manufacturer—Evoke Motorcycles also revealed its plan to enter into the Indian market with electric bikes. With initial plans to set up a design center and production hub in India, the company plans to introduce an electric motorcycle which would use locally assembled components and an outsourced powertrain. The first forthcoming electric motorcycle—Project M1 which will be an entry-level electric bike engineered for the masses is presently under development.

Readers can access a study on electric bike market to know more about the future opportunities offered by the market. The report also provides exclusive insights and findings pertaining to the report.

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