E-Bike Market Outlook and Forecast 2020 due to COVID-19 Impact
The soaring number of government incentives and subsidies aimed at promoting the adoption of electric bikes (e-bikes) is one of the major growth drivers for the demand for e-bikes across the world. For instance, the Swedish government announced a subsidy of 25% per e-bike to all the citizens of the country for up to the next three years, in 2018, which in turn increased the sales of e-bikes in the country from over 67,000 units to more than 100,000 units from 2017 to 2018 respectively. The other major factor pushing the demand for e-bikes across the globe is the increasing need for green-energy powered vehicles owing to the rising pollution level in several countries. In countries like the Netherlands, Germany, Japan, and Belgium, there has been a massive rise in the adoption of pedal-assist electric bikes and other low-speed electric vehicles, by people for commuting purposes. Moreover, the surging geriatric population level in many countries is also causing the people to shift ...