According to a new report published by Allied Market Research, titled, โSolar E-Bike Market,” The solar e-bike market was valued at $1.66 billion in 2030, and is estimated to reach $6.01 billion by 2040, growing at a CAGR of 13.7% from 2030 to 2040.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/10436
Solar e-bike is a type of bike that combines electric and solar energy to supply power to the vehicle for propulsion. It is one of the most eco-friendly innovations in the world along with convenient solar charging option, which offer a better option for charging solar electric bike batteries. At present, improvements in solar cell technology (nanocrystal solar cells), combined with ingenious placement of solar cells, offers convenient solar charging option by delivering opportunity for placing solar cells or solar panels on electric bikes to help charge batteries.
For instance, Ele launched a solar e-bike with solar panels on its wheels that rotate 30 degrees on both sides, to face toward sun. This is to absorb as much sun-power that it can. This hybrid bike can be charged via electricity and the sun. Moreover, over time, various connectivity solutions have been developed by manufacturers and service providers to improve security, safety and serviceability of these bikes. For instance, in 2019, engineering and technology company Bosch, unveiled new Smartphone Hub for solar e-bikes which offers wide range of functions including everything from navigation, music control, fitness tracking, making calls, performing diagnostics on the solar e-bike and using smartphone services and apps such as Strava or komoot.
๐๐ป๐๐ฒ๐ฟ๐ฒ๐๐๐ฒ๐ฑ ๐๐ผ ๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐๐ต๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐? ๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐๐๐ถ๐ป๐ด – https://www.alliedmarketresearch.com/purchase-enquiry/10436
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global solar e-bike market, owing to implementation of the global lockdown which led to lesser use of public transportation and solar e-bikes.
- Temporary closure of e-bikes manufacturing facilities as well as bikes stores adversely affected the overall production and sales of solar e-bike during the initial stage of the pandemic.
- The pandemic also resulted in flight cancellations, travel bans, and quarantines, which led to massive slowing of the supply chain and logistics activities across the world.
- Nevertheless, the globalย solar e-bike marketย has recovered soon in the post-pandemic as solar e-bikes are considered a safe, convenient, and affordable alternative to public transportation. In addition, the pandemic has changed the way people commute, and bicycling has become even more popular around the world.
In addition, the solar e-bike market has witnessed significant growth in recent years, owing to the various initiatives by governments for adoption of small electric mobility is expected to create numerous opportunities for key players operating worldwide. Furthermore, the companies operating in the market have adopted several contracts, investments, and product launches to increase their market share and expand their geographical presence.ย
For instance, in March 2022, the Indian Government has announced the setting up of solar thermal plants at major government hospitals & financial assistance for purchase of electric vehicles. The government proposes to set up concentric solar thermal plants at the GMC, Asilo and Hospicio (hospitals) to substitute the use of fossil fuels. Similarly, Sanyo (Japan) opened two solar parking lots in Tokyo where around 100 electric bicycles can be recharged from solar panels.
Factors such as positive government regulations and policies to encourage the use of solar e-bikes, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity is expected to drive the solar e-bike market growth. However, high purchase & and maintenance cost of solar e-bikes and low operating efficiency of solar e-bikes as compared to traditional bikes are some of the factors that hinders the market growth. Furthermore, technology advancement in solar e-bikes and improvement in the bicycle infrastructure are expected to offer lucrative opportunities for market growth.
Accell Group, CSE EV Group Co., Ltd., Derby Cycle, Fuji-Ta Bicycle Co., Lt., Giant Group, Merida Bikes, Royal Gazelle, Trek Bicycle Corporation, Yadea Technology Group Co, Ltd., Yamaha Motor Corporation, Kona Bikes, The Sun Trip, Vintage Electric Bikes, Charge And Bottecchia Cicli S.r.l are some of the leading key players operating in the solar e-bikes market.
๐ฃ๐ฟ๐ผ๐ฐ๐๐ฟ๐ฒ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ฎ๐ https://www.alliedmarketresearch.com/solar-e-bike-market/purchase-options