PUBLISHER: Inkwood Research | PRODUCT CODE: 1087416
PUBLISHER: Inkwood Research | PRODUCT CODE: 1087416
The North America e-bike market is predicted to record a CAGR of 10.14% in terms of revenue and 10.75% in terms of volume during the forecasting years 2022-2030. Tax benefits and subsidies provided by the government and the low availability of fuel and other natural sources drive the market growth.
The North America e-bike market growth analysis includes the assessment of Canada and United States. Some of the factors driving the market in the country are increasing demand among retired consumers, an increase in recreational travel and activities, and growing demand among youth. E-bikes are being recognized as a new mode of transportation in different cities of Canada, such as Toronto and British Columbia. As a result, new rules are being recognized, and infrastructure is being developed to support these pedal-assisted bicycles.
Furthermore, electric-assist bicycles are recognized as a growing mode of transport under the Encourage and Promotion section to protect and enhance safety for vulnerable road users. Additionally, to create awareness among people, improve the sales of the e-bike, and provide an enhanced experience, further boosting the growth of the Canada e-bike market.
Major players operating in the market include: Trek Bicycle Corporation, Rad Power, VanMoof, Chargebikes, Aventon, etc.