North America E-bike Market Forecast 2021-2028
The North America e-bike market is set to record a CAGR of 10.29% during the forecast period, 2021-2028. Infrastructure development in the region enables the use of e-bikes. Also, the depleting natural resources and the less availability of fuel has resulted in people opting for electric bicycles. There is also an increasing consumer awareness in terms of health and environmental issues, which further propels the sales of electric bikes in the region.
The United States and Canada are assessed for the North America e-bike market growth analysis. There is an increasing demand for e-bikes among the retired population and among those engaged in recreational travel activities, along with the young population. Several cities, like British Columbia and Toronto, are recognizing e-bikes as a new mode of transportation. Consequently, new rules are being enacted, and infrastructure developed, for supplementing the rising growth. For instance, Vancouver has the highest number of retail stores specializing in e-bikes in British Columbia. The City of Vancouver (CoV) presented their Transportation 2040 Plan, in 2012, as part of advocating active transportation. The plan entails the recognition of electric-assist bicycles as a growing mode of transport under the Encourage and Promotion section of transportation choices. Such factors are expected to fuel market growth in Canada.
Some of the top players present in the market include, Robert Bosch GmbH, Golden Wheel Group, Shimano Inc, Samsung SDI Co Ltd, Trek Bicycle Corporation, etc.
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