Major Trend Leading The Electric Bikes and Scooters Market 2024: Advancements In Battery Technology

The Business Research Company's Electric Bikes and Scooters Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The electric bikes and scooters market has seen significant growth in recent years and is expected to increase from $28.08 billion in 2023 to $30.27 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. Growth in the past period can be attributed to rising fuel prices, government initiatives, early market adoption, urbanization and congestion, and shifts in consumer behavior.

How Big Is the Global Electric Bikes and Scooters Market Expected to Grow, and What Is Its Annual Growth Rate?
The electric bikes and scooters market is anticipated to see strong growth in the coming years, expected to reach $39.1 billion by 2028 with a compound annual growth rate (CAGR) of 6.6%. This growth can be attributed to factors such as environmental concerns, economic trends, global market expansion, a competitive landscape, infrastructure development, and increasing consumer adoption. Key trends during the forecast period include urban mobility solutions, regulatory support and incentives, heightened environmental awareness, last-mile connectivity solutions, and consumer preferences for customization.

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What Is Driving the Growth of the Electric Bikes and Scooters Market?
Rising awareness about pollution is a major factor driving the electric bikes and scooters market. As more people recognize the importance of reducing pollution, they are increasingly seeking eco-friendly transportation options that help minimize and control environmental impact.

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Which Leading Companies Are Driving The Growth Of The Electric Bikes and Scooters Market Share?
Major companies operating in the market report are Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Suzuki Motor Corporation, Mahindra & Mahindra Limited, Polaris Industries Inc., Govecs AG, Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., AIMA Technology Co. Ltd.

What Are The Key Trends Driving The Growth Of The Electric Bikes and Scooters Market Size?
Advancements in battery technology are a rising trend in the electric bikes and scooters market. A notable improvement is the increasing use of graphene batteries, which utilize electrolytes based on the ultra-thin material graphene. This allows for faster charging times, higher capacity, and reduced vehicle weight.

How Is the Global Electric Bikes and Scooters Market Segmented?
1) By Product: Electric Bikes, Electric Scooters
2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Other Batteries
3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V
4) By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms

Asia-Pacific: The Leading Region in the Electric Bikes and Scooters Market
Asia-Pacific was the largest region in the electric bikes and scooters market in 2023. This region is expected to remain the largest during the next five years. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

What Is the Electric Bikes and Scooters Market?
Electric bicycles, commonly referred to as e-bikes or eBikes, are motorized bicycles equipped with built-in electric motors to assist with propulsion. Electric scooters, which often resemble motorcycles, are plug-in electric vehicles with two or three wheels and an electric motor.

The Electric Bikes and Scooters Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Electric Bikes and Scooters Market Report: Trends, Opportunities, Strategies, and More
The Electric Bikes and Scooters Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into electric bikes and scooters market size, electric bikes and scooters market drivers and trends, electric bikes and scooters global market major players, electric bikes and scooters competitors' revenues, electric bikes and scooters global market positioning, and electric bikes and scooters market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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