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Asia Pacific E-Bike Market Forecast 2021-2028

The Asia Pacific e-bike market is expected to project a CAGR of 8.07% during the forecast period, 2021-2028. The governments of the region are launching several initiatives like road taxes for electric bike consumers. This is set to be one of the important factors propelling the market growth of the region.

Indonesia, Japan, China, South Korea, Thailand, Australia & New Zealand, Vietnam, India, and the rest of Asia Pacific, are evaluated for the Asia Pacific e-bike market growth assessment. In Japan, the expanding consumer base that includes all age groups, and the arrival of electric sports bicycles, are fueling the market growth. The sales of e-bikes are increasing in the country. In India, the rising exhaust emissions, volatile fuel prices, increasing focus on health, have contributed to the growing demand for bicycles. Though, the demand for e-bikes is still in nascent stages. The inadequate availability of infrastructure and the high costs of e-bikes have hindered the adoption of e-bikes. But, with declining battery prices and shifting preference of consumers, e-bikes are gaining market share in gradual terms. E-bike sales in Australia are witnessing significant growth. The e-bike imports have increased threefold in the past three years. The sales are also growing faster, with more than 50 brands offering varied models. However, the country is yet to catch up with Europe. Such factors are expected to influence market growth.

Some of the distinguished companies in the market include, Jiangsu Xinri E-Vehicle Co Ltd, Panasonic Corporation, Shimano Inc, Samsung SDI Co Ltd, Fuji-Ta Bicycle Co Ltd, etc.

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Asia Pacific E-Bike Market Forecast 2021-2028
Published By :Inkwood Research
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