Technology for Ideas

Electric bikes have become the latest craze in the world of cycling. The popularity of these vehicles has seen their sales increase significantly in recent years. The global electric bike market is expected to grow from $9 billion in 2016 to $23 billion in 2022, at a CAGR of 29%.1 The United States is one of the leading countries in terms of the sales of electric bicycles, with an estimated 20,000 units sold in 2016.2 The country is also one of the largest consumers of petroleum in the world, with an average American consuming approximately 16 gallons of gasoline each year.3 The rising popularity of electric bicycles has the potential to address both of these issues by providing an easy way for people to get around without having to As the name suggests, an electric bike is a bicycle that uses electricity as its primary source of propulsion. Today, we look at Best Electric Bikes under 500 means electric bikes that cost less than $500. These bikes are increasingly popular among commute