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Increasing motor vehicles traffic levels have led to increased road accidents over the past decade, accounting for over 1.25 million deaths in 2015, according to report published by World Health Organization (WHO). Moreover, pollution levels across the globe have witnessed significant surge, owing to increasing vehicle traffic. According to Union of Concerned Scientist, one fifth of the U.S. emissions responsible for global warming are generated due to trucks and cars. Reduction in emissions and traffic levels can be achieved by adopting eco-friendly electric bicycles that can drastically decrease traffic congestion along with negligible carbon emissions, which is expected to propel growth of the electric bicycles market over the forecast period.