Electric Bikes Market: A $23.83 Billion Contender by 2025

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Electric bikes are a category of vehicles, which includes two-wheel bikes that are propelled using human pedaling assisted by electrical power from a battery or propelled almost completely using electric power. Electric bikes have been used as a popular mode of transportation in many countries including China, the Netherlands, and Germany. The global electric bikes market size was valued at $16.34 billion in 2017, and is expected to reach $23.83 billion by 2025, registering a CAGR of 4.9% from 2018 to 2025.

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Addition of electric power to a bicycle provides multiple benefits of cycling, thereby significantly increasing its usability. The key benefits of electric bikes are additional power for long distance commute at higher speeds, better time usage, ability to carry additional cargo, and thrift as compared to the other modes of transport.