The growth of the global electric bicycles market can be attributed to various driving factors such as strict government regulations coupled with the emergence of eco-friendly vehicles and the increasing fuel prices. Electric Bicycle Market is segmented by Type (Pedal Assist/ Pedelecs, Power on Demand, Pedal Assist with Power on Demand), Battery Type (Sealed Lead Acid, Li-Ion Battery), Motor Type (Hub Motor, Mid Drive Electric), Regions– Forecast till 2023.
Electric Bicycles Key Companies Market Analyzed For This Research Report Are: NYCeWheels (U.S.), Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Moustache Bikes (France), and Jiangsu Xinri E-Vehicle Co., Ltd. (China). myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K.), Pedego Electric Bikes (California), and A2B Electric Bikes (U.K) are among others.
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The electric bicycle market is garnering elevated demand levels, due to the trends relating to smart transportation and maintaining a healthy lifestyle. Moreover, there has been an increasing level of emphasis on reducing the reliance on automobiles that consume depleting energy resources on an increased scale. Electric bicycles are also seeing an escalation in demand due to contemporary tourism practices that involve conveyance options such as that of self-driving options. Increase in logistical activities is also projected to benefit overall market expansion considerably.
Furthermore, the market is expected to witness growth opportunities over the forecast period as various governing bodies have launched initiatives with the purpose to build bicycle highway lanes for e-bikes and motorized vehicles. The schemes are funded with a huge budget, and it will also focus on improving the biking infrastructure. There have been proposals to develop two-way bike lanes on one-way streets to ensure quick commuting of cycles. This will ensure a higher use of bikes than the metro, for daily commute.
On the basis of type, the market has been segmented as Pedal Assist (or Pedelecs), Pedal Assist with Power on Demand and Power on Demand. Amongst these, Pedal Assist segment accounted for the largest share. Pedal Assist is the mode of cycling where the power is provided only when you pedal. The pedal assist mode is more comfortable and more widely adopted than throttle when one is used to riding the bicycle. In pedal assist mode, the rider can mainly focus on pedalling and doesn’t have to control the throttle. Pedal assist bicycles have different levels of assistance such as low, medium, and high. Depending on the level of assistance, the rider can experience the comfort of the ride.
The regional analysis of the electric bicycles market is segmented into Asia Pacific, North America, Europe, and Rest of the World. The Asia Pacific region is controlling the electric bicycle market. The presence of emerging nations such as Japan, China, and India are one of the major countries compelling the electric bicycle market. China is the major market for electric bicycle in the Asia Pacific region. Since 2015, the sales have grown immensely in China. Expanding market in the U.S., China is one of the most attractive countries for electric bicycles globally. China has reinforced its industry leadership by making profits across all sides of the supply chain of electric bicycles based on the current and projected production of electric bicycle and their components, such as lithium-ion battery cells and electric motors.
The report for Global Electric Bicycles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
The Electric Bicycles market is witnessing intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations, as key factors that confront market growth. The vendors compete in terms of cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality Electric Bicycles, to survive and succeed in an intensely competitive market environment.
Major Table of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Proces
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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