Bicycles that have electric motors and additional battery capabilities to help the rider while pedalling are known as electric bicycles, or E-bicycles. Due to their low cost, lack of fuel use, and sustainability, these electric bicycles are an effective mode of transportation.
According to SPER market research, ‘Latin America Electric Bicycle Market Size- By Battery Type, By Battery Capacity, By Propulsion, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Latin America Electric Bicycle Market is predicted to reach USD XX Billion by 2033 with a CAGR of 7.7%.
Technology breakthroughs have made it possible to incorporate Internet of Things and artificial intelligence into electric bicycles, particularly for cargo and mountaineering applications. Users can access features including display and navigation functions, surface topography information, automatic locking capabilities, over-the-air updates, foldability for easy bicycle transportation, and many more. As a result, the region's population is drawing in greater numbers due to these new features, which is fueling the expansion of the electric bicycle market.
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However, there is a vast array of alternatives to electric bicycles, such as conventional bicycles, low-power electric bikes and scooters, and electric mopeds. In addition to offering the advantages of an e-bike, like reduced efficiency, cheap maintenance, avoiding traffic jams, and many more, these alternatives are perfect for use. As a result, the expansion of the electric bicycle market in Latin America is hampered by consumers' ability to quickly switch to other options while purchasing electric bikes.
Impact of COVID-19 on Latin America Electric Bicycle Market
Latin America, now the primary COVID-19 epicenter, surpassed Europe and the U.S. in daily infections despite strict measures. Supply chains, commodity prices, and tourism suffered disruptions. However, cities like Bogota, Lima, Quito, and Buenos Aires responded by promoting cycling, expanding bike lanes, and restricting car access to reduce public transport crowding. The pandemic also instigated a behavioral shift towards health consciousness, prompting increased adoption of electric bicycles.
A sizable portion of the Latin American electric bicycle market is occupied by Brazil. The country's sales of electric bicycles are being boosted by factors like greater urbanisation, more traffic, and citizens' and the government's increasing focus and knowledge on choosing sustainable mobility. Furthermore, the nation's urbanisation has resulted in a rise in the prevalence of lifestyle-related conditions like obesity, diabetes, hypertension, etc. Consequently, a greater number of these people are using electric bicycles to maintain their physical fitness.
Latin America Electric Bicycle Market Key Players:
Additionally, some of the market key players are Brazil Electric Bikes, Caloi, E Mov Inc., E-Moving, Haibike, Lev Bicycle, Merida Bikes, Ridley Bikes, Trek Bike Corporation, Vela Bikes and Others.
Latin America Electric Bicycle Market Segmentation:
By Battery Type: Based on the Battery Type, Latin America Electric Bicycle Market is segmented as; Lead Acid Battery, Lithium Ion Battery, Nickel Cadmium, Nickel Metal Hydride, Others.
By Battery Capacity: Based on the Battery Capacity, Latin America Electric Bicycle Market is segmented as; Less than 250 W, 251 W to 450 W, 451 W to 650 W, Above 651 W.
By Propulsion: Based on the Propulsion, Latin America Electric Bicycle Market is segmented as; Pedal Assisted, Throttle Assisted.
By Application: Based on the Application, Latin America Electric Bicycle Market is segmented as; Cargo, Trekking, Urban Commute.
By Region: This research also includes data for Argentina, Brazil, Columbia, Mexico and rest of Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
Latin America Electric Bicycle Market Size
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