- The global pedal-assist ebike market is expected to reach more than $18.65 billion by 2024, and is expected to see the fastest growth rate among types of electric bikes.
- The demand for ebikes is increasing among youth as their interests turn to adventure sports including cycling.
- The migration of battery manufacturing to emerging markets like China has brought battery costs down significantly over the past few years. This has trickled down to lower ebike prices at the retail level.
- Manufacturers of pedal-assist ebikes are focusing on enhancing the overall user interface by developing pedal-assist ebikes that can integrate with the rider's smartphone and provide them real-time information on their speed and battery status.