Electric bicycles are definitely a better investment, and not just for environmental reasons. E-cycles are easy to ride and provide great value in the long run. However, the decision to buy an e-cycle should largely depend on your needs.
New Delhi. The e-bicycle market is booming all over the world. People are turning to eco-friendly bikes to reduce vehicular emissions and dependence on fossil fuels. These e-cycles also offer several health benefits and are pocket-friendly at a time when fuel prices are skyrocketing. In India, the e-cycle market is still in a nascent stage, but many local companies have entered the segment offering multiple options to the customers.
According to a report by Mordor Intelligence, the Indian e-cycle market was worth USD 1.02 million in 2020 and is projected to grow to USD 2.08 million by 2026 with a compound annual growth rate of 12.69 per cent during the forecast period.
How does an e-bike work?
An electric bicycle is a bicycle with an inbuilt electric motor. Which can be used to help with propulsion. As the name suggests. Electric bikes have pedal assist and the motor activates only when the pedals are in motion. Hence a rider has to pedal the cycle. But pedaling gets an extra boost to make the ride quicker and less tiring. In this way, e-bikes offer the fun of cycling along with automobiles. Additionally, the e-bike allows users to navigate rough terrains.
The three main components of an e-cycle are the
electric motor: This motor provides torque when you pedal.
Battery: This battery drives the motor. A fully charged battery gives the e-bike a driving range of 5 to 6 hours.
Sensor: Once you start pedaling, the sensor drives the motor and provides assistance to the rider.
Advantages and Disadvantages
There is no doubt that e-bicycle is an excellent means of eco-friendly transportation. In a country like India, where two-wheelers account for 75% of the pollution, the adoption of e-cycles will significantly reduce carbon emissions.
However, due to various problems including lack of cycle lanes, lack of charging infrastructure and initial cost, the e-bike market in India is slowly growing. Currently, the average price of an e-bike is similar to that of a basic scooter in India. Thus, customers prefer scooters over e-cycles. The price of e-cycle in India ranges from Rs 20,000 to Rs 3 lakh. In addition, e-bicycle technology is still evolving. And for those who have to travel long distances every day, an e-bike is not a better option.
Growth prospects
Despite many roadblocks, e-cycles continue to enthrall customers, and it is generally predicted that in future years, they will become the most popular means of personal transport.
In India too many companies are driving innovation in this segment. For example, Hero Cycles is investing heavily in research and development as well as localization of key components of the e-bike.
In the last two years, a lot of power e-cycles have become available in the Indian market. These include Hero Lectro, GoZero Mobility’s Skilling series, Yamaha’s new Civent Class 3, Z Bikes, Being Human, and others. These bikes offer high speed and high range on a single charge.
Are e-bikes a good investment?
An electric bicycle is definitely a better investment, and not just for environmental reasons. E-cycles are easy to ride and provide great value in the long run. However, the decision to buy an e-cycle should largely depend on your needs.
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