The E-Bike Business Faces a few Hurdles but has much Promise

The E-Bike Business Faces a few Hurdles but has much Promise
Abstract
Worldwide e-bikes is at a strategic position to take advantage of the prevailing market conditions that is in demand of clean energy. The concept of the e-bike is quite ingenious, considering the added benefits that it brings along. This business needs to get an abroad audience transformed into an attractive idea for the market that will help it realize growth. There is a need to understand the market to expand this business, especially when everything is embracing technology. The Australian market provides an excellent opportunity for e-bikes due to the great potential offered by the younger portion of the population.
Introduction
Global warming is a serious existential threat to the survival of humankind and the long-term sustainability of any life on earth. Automobiles are among the world's biggest emitters of greenhouse gases and are some of the main contributors to global warming. The only way to reduce global warming is to cut down on these emissions, and the only way to cut emissions is by coming up with alternative methods of transportation. With this in mind, several efforts have been made to ensure that its causes and impacts are curtailed significantly. One of the main proposals was to reduce the emission of greenhouse gases into the atmosphere. This is where the e-bikes come in; a hybrid electric bike set to help reduce human reliance on cars. The concept of the e-bike is quite ingenious, considering the added benefits that it brings along. To do so, a strategic digital marketing plan report is essential for the management of the business.
Market Opportunity
There has been increased embracement of electricity and its appliances, thanks to increased awareness and consciousness about global warming and the detrimental impacts of fossil fuels. The goal proposed in most global climate and environmental conventions has always been to move towards zero emissions within a certain period. Zero emissions mean a collective shift in usage of appliances, from fossil fuels to clean energy ones. This has provided several companies, such as Worldwide E-bikes, with a chance to get into and thrive in business by producing electric bikes and becoming essential players therein.
Globally, the potential is still quite high as the market for clean energy is still largely unexplored. According to Prasad and Mittal (2021), the global market for clean energy will grow by 8.4% yearly from 2021 to 2030. This is a clear indicator of the huge potential in the clean energy segment due to the slow but steady embracement of the same. Companies are slowly embarking on measures and efforts that will eventually see them become innovative for the future. The untapped potential in this market segment is what Worldwide E-bikes need to capitalize on and exploit most positively.
Graph showing the projections for the global electric bike market between 2018 and 2028. Link /statistics/1261084/global-e-bike-market-forecast/
Locally, there is a gradual embracement of clean energy. Even though there is still a significant reliance on fossil fuels, people are slowly shifting towards clean energy, thanks to the awareness of climate change. In countries such as the U.S., U.K, and ...