Electric Bicycles Market Research Report - Forecast to 2023

Global Electric Bicycle Market Expected to Garner a CAGR of 5.91% and reach a Valuation of USD 21,347 Million by 2023. Electric bicycles are e-bikes that comprise integrated electric motors that can be used the purpose of propulsion. These bikes use rechargeable batteries and can travel at a speed of up to 25 to 32 km per hour. However, the speed limit depends upon the individual country’s government regulations. The global electric bicycle market is slated to grow at a decent pace in the coming years according to the study undertaken by Market Research Future (MRFR). The study mentions that the global valuation of the market will reach a projected figure of USD 21,347 million by the end of the forecast period at a compound annual growth rate of 5.91% between 2015 and 2023.

The market growth of electric bicycles can be attributed to a vast pool of factors. The strict regulations imposed by government in regards to the environment, the emergence of a number of eco-friendly vehicles, and an increasing fuel pricing rate are some of the major market drivers. With the help of e-bikes, cyclists the opportunity to enjoy the fresh air without spending much energy as compared to a traditional bicycle. The comfort and convenience offered by electric bicycles is a key growth driver of the market. The expanding number of transport projects in various emerging nations are expected to open far-wider logistical opportunities and push the demand for both commercial as well as passenger vehicles in regions like Asia Pacific. Moreover, the market is expected grow globally due to the number of initiatives launched by various government bodies has led to the development of bicycle highway lanes for electric as well as motorized vehicles.

Browse more information at: https://www.marketresearchfuture.com/reports/electric-bicycles-market-4186

Market Segmentation

The global electric bicycle market segmentation is based upon key dynamics like type, motor type, and battery type.

By type, the market segments into Pedal Assist with Power on Demand, Pedal Assist (or Pedelecs), and Power on Demand. The pedal assist segment holds the largest share of the market in this category. Pedal assist is a mode available in e-bikes wherein the power is provided only when you pedal. This mode is highly comfortable and is adopted widely across the globe than throttle. Under this mode, the rider doesn’t require to control the throttle and can solely focus upon pedaling. These pedal assist bicycles boast different assistance levels like medium, high, and low. Based on the level of assistance required, a rider can experience the comfort that is available with the rides.

By battery type, the market divides into sealed lead acid and Li-on battery.

By motor type, the market breaks down into mid-drive electric and hub motor.

Regional Analysis

The global electric bicycle market is regionally distributed across the following geographical areas: Asia Pacific, Europe, North America, and the Rest of the World (RoW).

Globally, the Asia Pacific region holds the stand out positioning and is expected to be the case in the coming years. The presence of various emerging developing economies like India, Japan, and China is pushing the growth of the market. China is one of the key players in the global market and is considerably contributing to the overall growth of the Asia Pacific region. Elsewhere, the US region is contributing significantly to the expansion of the North American regional market.

Competitive Landscape

The global electric bicycle market includes key and prominent players like Derby Cycle (Germany), Accell Group (Netherlands), Easy Motion USA (California), NYCeWheels (U.S.), Pedego Electric Bikes (California), Moustache Bikes (France), myStromer AG (Switzerland), Jiangsu Xinri E-Vehicle Co., Ltd. (China), Karbon Kinetics Limited (KKL) (U.K.), and), A2B Electric Bikes (U.K) among others.

June 5th, 2019, Delfast made a breaking announcement for the electric cycling industry when it updated its newest high-speed electric bicycle. The bicycle named Top 2.0 holds the potential to push the limits of any other e-bike and can reach a top speed of 50 mph.

May 17th, 2019, Nua Bikes, a Barcelona-based biking company, announced the launch of its new e-bike named Zehus Bike+. The company mentions that the bike holds a range of 30km if the rider is using the pedal assisted mode and limits the speed to 25km.

For more news visit:

https://www.marketwatch.com/press-release/electric-bicycle-market-2019-industry-analysis-by-global-size-share-trends-key-players-growth-opportunities-driving-factors-forecast-to-2023-2019-02-08

https://www.reuters.com/brandfeatures/venture-capital/article?id=72017

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