Global E-Bike Charging Station Market Size Expanding Steadily to Touch USD 3.6 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global e-bike charging station market size at USD 2,783.71 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global e-bike charging station market size to grow at a CAGR of 3.71% reaching a value of USD 3,565.43 million by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global e-bike charging station market size at USD 2,783.71 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global e-bike charging station market size to grow at a CAGR of 3.71% reaching a value of USD 3,565.43 million by 2029. Numerous e-bikes are being used worldwide as a result of rising gasoline prices and growing consumer awareness of their carbon footprint, which are significant growth drivers for the global e-bike charging station market. Governments across countries are investing in e-bike charging stations in response to the rising demand for them, which is accelerating the expansion of the market.
Global E-Bike Charging Station Market – Overview
Most electric bicycle (e-bike) charging stations function like a regular power outlet. The owner only needs to park the electric bike and attach the charging cord. The battery must be taken out and charged separately at certain charging stations, though. The electric charging station is supported by applications that let all owners of electric vehicles (EVs) find and instantly verify the status of the closest charging stations. Additionally, the charging stations can be installed in residential areas, commercial and office buildings, and other places.
Global E-Bike Charging Station Market – By Battery Type
Based on battery type, the global e-bike charging station market is segmented into lead acid, lithium-ion, and others. The lithium-ion battery accounts for the highest market share. Compared to lead-acid or nickel-metal hydride batteries, lithium-ion batteries offer better energy densities, making it feasible to reduce battery size while maintaining storage capacity. They also have an excellent high-temperature performance, a high power-to-weight ratio, great energy efficiency, and minimal self-discharge. Although it is possible to recycle the majority of lithium-ion battery parts, the cost of material recovery continues to be an issue for the sector.
Impact of COVID-19 on Global E-Bike Charging Station Market
The global e-bike charging station market's growth was adversely affected by the COVID 19 pandemic during 2020–2021. The demand for charging stations during this period decreased as a result of the lockdown that was imposed in various nations to stop the virus' spread since the lockdown restricted consumer regular commutes. Additionally, the pandemic forced governments to refocus their investments from charging station infrastructure to healthcare. However, the market is expected to gain traction in the post-pandemic period owing to increasing consumer awareness about sustainability and sustainable mobility.
Major players operating in the global e-bike charging station market include Bosch eBike Systems, Trek Bicycle Corporation, Giant Manufacturing Co. Ltd., Accell Group, Bafang Electric (Suzhou) Co., Ltd., Shimano Inc., Panasonic Corporation, Brose Fahrzeugteile GmbH & Co. KG, Specialized Bicycle Components, Inc., Derby Cycle Holding GmbH, Mahindra Electric Mobility Limited, Yamaha Motor Co., Ltd., Mahle GmbH, SRAM LLC, and Go SwissDrive AG. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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