KSA Electric Bike Market Size 2024, Revenue, Rising Trends, Growth Strategy, Key Manufacturers, Challenges, Opportunities, and Future Forecast Till 2033: SPER Market Research
Saudi Arabia Electric Bike Market is projected to be worth USD 3.15 billion by 2033 and is anticipated to surge at a CAGR of 6.25%.
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A bicycle that combines human force and an electric motor for propulsion is called an electric bike, or e-bike. Picture a standard bicycle that has an electric motor, battery, and controller built right into the frame. These parts give riders more support during cycling, which makes navigating hills and headwinds easier and enables them to go farther without getting exhausted. Although some models offer throttle-controlled alternatives for a moped-like experience, most e-bikes require the rider to pedal in order to activate the motor, unlike electric motorcycles or scooters. E-bikes are a well-liked option for fitness, leisure, and commuting because of their reputation for being quiet, efficient, and clean.
According to SPER Market Research, ‘Saudi Arabia Electric Bike Market Size- By Propulsion Type, By Battery Type, By Power Type, - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Saudi Arabia Electric Bike Market is estimated to `reach USD 3.15 million by 2033 with a CAGR of 6.25%.
People can now travel to their desired destination more quickly and easily thanks to motor vehicles. The most popular forms of transportation are cars and motorbikes, which are used daily by most households for commuting. However, these vehicles produce harmful emissions and increase carbon footprints, which have negative effects on the environment, including global warming and ozone layer depletion. As a result, people are becoming more conscious of the environment and feeling compelled to drive environmentally friendly vehicles, which has led to a growth in the market.
Several obstacles limit the expansion of the electric bike market in Saudi Arabia. The high initial cost in comparison to conventional bicycles is a significant barrier. Because of their electric motors and lithium-ion batteries, e-bikes are more expensive than traditional bicycles, which may put off consumers on a tight budget, especially since ordinary bicycles are more accessible and less priced. An further major barrier is the absence of infrastructure specifically designed for cycling. Saudi Arabia has fewer authorized bike lanes and charging stations than certain European or Asian nations. Potential riders are deterred by this shortage because they may feel uncomfortable or unsafe negotiating traffic without enough space between them or easily available e-bike charging stations. Lastly, a particular difficulty is the year-round extreme heat that many places experience.
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The electric bike market in Saudi Arabia was impacted by COVID-19 in two ways. Growth was first hindered by supply chain problems and lockdowns. On the other hand, the epidemic increased interest in environmentally friendly, personal transportation. As regulations loosened, there may have been a surge in demand for e-bikes due to this change in consumer priorities. Although the full impact is still being felt, the market is anticipated to adjust and expand in the upcoming years.
The Central Region's Riyadh is becoming a hub for the adoption of electric bikes and the world's largest market for them due to its rising emphasis on contemporary, environmentally friendly modes of transportation. Major players in the market are Accell Group, Brompton Bicycle Ltd, Cube Bikes, Giant Manufacturing Co. Ltd, Merida Industry Co. Ltd, Rad Power Bikes, Riese & Müller, Specialized Bicycle Components, Inc, Trek Bicycle Corporation, TRINX Bikes, Others.
Saudi Arabia Electric Bike Market Segmentation
By Propulsion Type:
- Pedal Assisted
- Throttle Assisted
By Battery Type:
- Lithium-ion
- Lead Acid Battery
- Others
By Power Type:
- Less Than and Equal to 250W
- Above 250W
By Region:
- Central Region
- Northern Region
- Southern Region
For More Information, refer to below link:-
Saudi Arabia E-Bike Market Outlook
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