Exploring Growth and Technological Advancements in the Electric Bike Industry

Over the past few years, there has been a steady increase in demand for electric bikes because of the need for eco-friendly transportation and the rise in popularity of the active lifestyle. An electric bike is essentially a bicycle with a motor attached along with rechargeable batteries lowering the pressure on the pedal. This innovation allows the users to cycle further and more often without getting tired; hence, they are preferred for people who have limited mobility. Another reason is that electric bikes are an affordable alternative to car travel. A combination of high-performance, rechargeable batteries with lightweight motors and pedal assistance has delivered electric bikes into the most efficient, sustainable and convenient mode of transportation.

According to a new report published by Allied Market Research, the electric bike market is anticipated to showcase a notable CAGR of 10.5% during the forecast period.

The role of smart connectivity in modern e-bikes

Nowadays, electric bikes are incorporating advanced technologies such as GPS tracking, intelligent connectivity and mobile app integration. This permits riders to track their e-bikes' performance, control specific features, and access location services through smartphone apps. They also integrate smart connectivity features, enabling riders to connect their bikes to mobile apps through Bluetooth or Wi-Fi. These apps offer several features, which include battery status monitoring, real-time bike location tracking, adjustment of pedal-assist levels and recording ride data.

For example, in February 2023, Trek Bicycle Corporation introduced two new electric cargo-bikes developed for children and cargo vendors. Both versions use the company’s cargo-specific mid-pressure motor range and Bosch Smart System (BES3). These motors are customized for 250 W and 750 W continuous power. In the U.S., the motors are typically limited to a maximum speed of 20 mph (32 km/h), and the throttle-less layout ensures they remain classified as Class 1 e-bikes. Therefore. These advancements contribute to the expansion of the global electric bike sector.

Major advancements in the electric bike industry

Many leading companies in the industry have made great progress by implementing various strategies to expand worldwide. These strategies consist of releasing new products and services, expanding into new geographic areas and forming alliances to strengthen their dominance globally. For instance, in November 2023, Giant Group introduced its initial electric bike with a throttle, called the Cito E+. This bike is part of the Momentum brand, which offers low-cost bikes for daily activities encompassing commuting and visiting local stores. The new Momentum Cito E+ also includes a glovebox.

Another advancement, in March 2023, Bharat Forge Limited, through its E-Mobility branch, Kalyani Powertrain Ltd., launched its inaugural e-bike factory at Maharashtra Industrial Development Corporation, Chakan. The plant had an initial capacity of producing 60,000 units per year, with the scope to expand to 100,000 units per year. The plant primarily focused on assembling electric bikes for Tork Motors Private Limited, which was mostly owned by Kalyani Powertrain Ltd.

To wrap up, the electric bike industry is witnessing rapid growth due to the demand for eco-friendly transportation and the convenience of electric assist. With advancements in smart connectivity, including GPS and mobile app integration, e-bikes are becoming increasingly efficient and user-friendly. Moreover, new product launches, expanded manufacturing capacity and geographic growth are providing profitable opportunities for expansion in the sector.

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