E-bike Charging Station Market to Hit USD 3500 Million in 2028; Emergence of Connected Electric Bike
Pune, India, June 22, 2021 (GLOBE NEWSWIRE) -- According to the report, E-bike Charging Station market size is projected to grow from USD 2715.23 in 2021 to USD 3498.13 Million in 2028 at a CAGR of 3.7% in the forecast period. It stood at USD 248.10 billion in 2020. The global e-bike charging station market is set to gain traction from the high popularity of electric bikes because of the ongoing technological advancements. The emergence of connected e-bikes is one of development. These bikes help to send and receive information from the cloud without the usage of smartphones. In May 2021, for instance, GreenAer, a retailer of e-bikes, announced its plan to broaden its presence by opening three new outlets in Ireland. The company aims to cater to the demand for load-carrying e-bikes from families. COVID-19 Pandemic: High Demand for Alternatives to Public Transport to Aid Growth
The outbreak of the COVID-19 pandemic has severely impacted this industry because of the surging implementation of lockdown measures by governments of various countries across the globe. But, the rising demand for alternatives to public transportation is set to propel growth amid the pandemic. At the same time, the closure of health clubs and gyms to prevent transmission has rapidly increased the demand for e-bikes as it is considered to be a socially distanced outdoor activity.
Commercial Segment Held 20.2% Share in 2020: Fortune Business Insights™
Based on the type, the market is bifurcated into commercial and residential. Amongst these, the commercial segment generated 20.2% in terms of the e-bike charging station market share in 2020. This growth is attributable to the rising demand for bike-sharing practices. The residential segment is set to dominate in the upcoming years because of the ease of charging of e-bikes and the availability of a wide range of extender batteries.
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