Pedal To The Future: Evolution of E-Bicycle And Its Widespread Adoption In India
The Indian electric bicycle market is expanding quickly as a result of favourable government laws and incentives as well as a rapidly rising demand.
By Tushaar Bajaj
As we navigate through the technological era, one thing is for certain: the future of mobility is electric. In India, the rise of electric vehicles (EVs) is the outcome of rising pollution and high import bills for crude oil. As a result, several segments, including 2W, 3W, and 4W, in Indian electric mobility have emerged. However, one segment that has been emerging swiftly in the mobility segment is the electric bicycle, or e-bicycle, which is gaining ground in the Indian markets.
A report by BlueWeave Consulting projects that the market will expand at a CAGR of 15.7 per cent by 2028. This is due to the fact that they are an economic, cleaner, and more efficient means of transport for a country that is dependent on two-wheelers for commuting. The Indian electric bicycle market is expanding quickly as a result of favourable government laws and incentives as well as a rapidly rising demand for environmentally friendly bicycles for commuting, leisure, and adventure activities.
The Rise Of E-Bicycles
The covid-induced pandemic had a long-lasting, profitable effect and functioned as a spur for the e-bike market's expansion. During the period, many were hesitant to use public transport, which in turn raised the demand for e-bikes.
The government's electrification programme and consumers starting to understand the importance of climate change have both contributed to the growth in demand. The hazardous gases that ICE vehicles release, including carbon dioxide, nitrogen oxides, particulate matter, and others, are particularly bad for the environment.
Therefore, adopting a sustainable strategy is crucial in order to reduce this pollution.
E-bicycles have become a practical solution in this regard. Furthermore, India is facing traffic issues owing to its increasing population and continuous development. Therefore, with the use of e-bikes, daily commuters are reaching their destinations on time, which is why they are preferring this mobility segment.
Affordable For Everyone
ICE vehicles have a higher TCO (total cost of ownership) when compared to e-bicycles. On the one hand, in the case of ICE vehicles, where consumers have to constantly pay from their pockets for expenses like petrol or diesel, maintenance, insurance, or more, the latter does not burn a hole in their pockets. Furthermore, as the prices of fuel are spiking almost every other day, these e-cycles have been attracting Indian consumers with no fuel costs.
When compared to other forms of transportation, e-cycles are far more affordable, low-maintenance, and have a much lower cost per mile, making them an inescapably wise investment. In totality, their affordability makes them popular among the masses.
Aiding In Sustainability
The adverse effects of climate change are visible today, and the need of the hour is to address them. However, the fact that the country is becoming more environmentally aware and embracing sustainable practices cannot be stressed enough.
According to a recent study by Bain & Company, Indian customers are also becoming more concerned about sustainability; 20 per cent of Indian consumers are socially and ecologically conscious, and 49 per cent are concerned about their health. The e-bikes address both of these issues. E-cycles have long-lasting batteries, no need for fossil fuel, and produce no harmful pollutants.
As a result, it has become a viable option for transportation that promotes environmental protection, lowers pollution, and ensures that people live healthy lives.
An Easy Riding Option
For many people, using a four-wheeler for little errands might be stressful. A bicycle appears to be a viable option in this situation. Although they are frequently used for transportation, bicycles can also be used for leisure and physical fitness.
While complimenting the uses of traditional bicycles, an electric bike, however, has its own benefits. With an e-bike, travelling a short distance to work is easy-going and stress-free, while lowering concerns about getting stopped in traffic.
Additionally, e-bikes are appropriate for everyone regardless of age or gender, in contrast to conventional bicycles. Both older people and kids may ride them and find them to be easy, enjoyable, and comfortable.
E-bikes combine the comfort of a car with the thrill of riding, making them a great option for recreational activities while also being a great form of transportation. They are also anticipated to soon overtake pedal-assist bicycles as the most useful option for short distances. Due to their accessibility, sustainability, and convenience of use, e-bikes are becoming increasingly popular among Indian consumers.
With technological advancements, increasing range, and developing infrastructure, e-bikes have the potential to become India's top mode of transportation.
(The author is the Co-founder and Director, Virtus Motors)
Disclaimer: The opinions, beliefs, and views expressed by the various authors and forum participants on this website are personal and do not reflect the opinions, beliefs, and views of ABP Network Pvt. Ltd.
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