The Growth Of The E-Bicycle Market

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The Growth Of The E-Bicycle Market

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The Growth Of The E-Bicycle Market

The Electric Bicycle is no stranger to India, however its popularity, once was questioned. It might come as a surprise that they have been around for almost a decade, though their introduction then was met with lots of skepticism which limited sales. The first few e-bicycle went out of the market almost as quickly as they appeared. Reasons contributing to their decline other than people’s skepticism, included heavy lead-acid batteries, a high price point and lack of knowledge. However, the last 3 years has seen a drastic change in this segment. 

Introduction of e-bikes from well-known names in the Indian cycling industry, coupled with people’s growing “eco-consciousness”, increased popularity and knowledge of cycling has led to electric bicycles gaining popularity among urban cyclists in the country. Another major contribution to this would be Lithium ion batteries which are comparatively lightweight and have a higher capacity, thereby enabling longer distances on a single charge. 

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India, along with China has highly contributed to the growth of the electric bicycle market in the Asia Pacific Excluding Japan(APEJ) region. APEJ is a lucrative region and is expected to show high market share by the end of 2022. This region has higher potential and several players are setting up manufacturing plants in this region due to easy labor availability and low cost. Moreover, this region has experienced high government support, with the Indian electric bicycle market receiving significantly favourable policies. The pedal assist segment is expected to lead the global market in terms of high market share. 

The introduction of several more e-bicycle manufacturers’ post 2011, such as Hero with Lectro, Hullikal, Light Speed and Being Human e-bikes, it is a steady indicator that the electric bicycle market is gaining popularity in the country, and has the potential for large growth in the years to come. 

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Conclusion

In conclusion, Electric bicycles require less work on the part of rider and makes it easier to negotiate inclines, tolerate riding in hot weather, making it a popular choice with many urban commuters across all ages over the last couple of years. Additionally, with increasing health and environmental consciousness and also the awareness for the need to reduce traffic congestion on roads, people have taken to e-bicycles across the country. 

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