How Popular Have Electric Bikes Become?

The popularity of electric bikes nowadays has reached heights no one could ever imagine. This is mostly because of the change of times today and innovation and improvement of modern technology. The advancements have led an essential change of facade over the years enabling the electric bikes to have gained more opportunities than traditional bikes. The transformation of these traditional bikes did not lose its essence as these e-bikes have actually gotten the inspiration from these old traditional bikes.

What changes of the modern world led to its success?

  • Market
  • Changing needs of transportation
  • Environmental concerns
  • Technological advancements

Market

Along with the modern changes of the world, the market and business in reality have also changed. Needs have changed, market size has changed and the demand and supply essentials have also changed big time. These are the factors that have contributed in the change and modification of the traditional bikes.

According to recent stats, the market has expanded deliberately. Five years ago, the market actually had a value of approximately $18 billion. However, in the current studies and research, it is projected to be reaching around $52 billion by 2029. The market has increased grossly that traditional bikes would have to keep up.

Changing needs of transportation

With everything that has happened in the world, change of needs of transportation has been apparent. COVID has also given a different impact and with all the quarantine requirements during COVID, ebike became more sought for. After COVID, the world went back to its fast paced nature and e-bikes even had higher demand. COVID made the world realize how easy things was without any  cars and motorcycles being able to transport from one place to another that easily. E-bikes had become the last resort.

Environmental Concerns

Apart from technology and the modern world, there have been a lot of issues going on about belching and smoke emission. This positions vehicles that are operated by gasoline in a bad light. Because of the convenience of e-bikes, these have come into play in a better light. Apart from this, there has also been a world wide discussion as to how friendly these bikes are to the environment.

Technological advancements

More so, the changes of technology today has contributed so much to how traditional bikes work. Because of how modern, forward and advanced the world is today, the standard nature of things had to keep up. One of the ways to keep up is the transformation of these bikes to fit the current needs of the world. It cannot stay its traditional way as it has to keep up and cater the needs of the modern world.