What percentage of bike sales are e-bikes?

What percentage of bike sales are e-bikes?

Once the outlier with less than 1 percent of the cycling market in 2012, e-bike sales have climbed steadily over the past decade — accounting for nearly 15 percent of the market in 2019 and reaching a fever pitch during the pandemic.

How many electric bicycles are sold in India?

The start-up has reportedly sold around 3,758 units this year,compared to 2,972 e-scooters in 2020 and 2,290 units in 2019. In terms of month-wise sales, March 2021 saw the highest sales in the past two years, at 9,875 units.

Is there a market for e-bikes?

E-Bikes Market Statistics 2021-2030: The global electric bike market was valued at $40,312 million in 2019, and is projected to reach $118,657 million by 2030, registering a CAGR of 10.5\% from 2020 to 2030.

Are e-bike prices coming down?

E-bikes will certainly become cheaper in the end like any other gadget or piece of technology. Just do not expect its prices to settle down in just a matter of a few months or even years.

What is the e-bike market valuation in India?

Market Overview The India E-Bike market was valued at USD 1.02 million in 2020, and it is expected to reach USD 2.08 million by 2026, projecting CAGR of 12.69 \% during the forecast period. (2021-2026). Recent COVID-19 has resulted in reduced sales of e-bikes in India.

What is driving the market growth of electric bikes in India?

Apart from increasing customer preference towards electric bikes for recreational and adventure activities, the adoption of e-bikes in several other sectors such as logistics, and rentals is driving the market growth of electric bikes in India.

How covid-19 has affected the e-bike market in India?

Recent COVID-19 has resulted in reduced sales of e-bikes in India. In 2020, the market generated a revenue of USD 1.02 million, as compared to USD 1.70 million in 2019. These reduced sales were the result of lockdowns and economic slowdown in India.

How will Hero Cycles reduce the price of electric bikes in India?

To decrease the price of electric bikes in India, Hero Cycles has invested heavily in research and development as well as localization of the critical components. The plan is to localize the entire production including controllers and the battery.