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Dublin, April 15, 2022 (GLOBE NEWSWIRE) — The “Europe E-Bike Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Battery Type, Class Type, Motor Type, and Mode” report has been added to ResearchAndMarkets.com’s offering.
The European e-Bike market is expected to grow from US$ 11,706.81 million in 2021 to US$ 48,810.57 million by 2028; it is estimated to grow at a CAGR of 22.6% from 2021 to 2028.
Since most cities in Europe experience traffic congestion every day due to ever-increasing vehicle numbers on the road, policymakers are focusing more on transforming cities under their jurisdiction into “Cycling Cities.” The illumination of the role of cycling in the overall city mobility strategies crucial for creating an efficient ecosystem for cyclists. Local, regional, and national authorities in the EU member states aim to accelerate the shift toward zero-emissions vehicles through various incentives to encourage the purchase and use of EVs – including vans, buses, bicycles , and motorcycles.
The 2017 EU Cycling Strategy lays out four primary objectives for the promotion of cycling in mobility systems by putting an equal emphasis on it. The strategy further focuses on encouraging the use of cycles by 50%, and cutting the rates of fatalities and serious injuries among cyclists by 50% during 2020-2030. Furthermore, the 2017 EU Cycling Strategy also emphasizes raising the EU’s investments in cycling to ~US$ 3.4 billion during 2021-2027 and ~US$ 6.8 billion from 2028 to 2034. Such strategies and frameworks by governments drive the growth of the e-bike market in Europe.
Notably, the COVID-19 pandemic has accelerated the sales …
Full story available on Benzinga.com
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