Electric Bicycle Market Analysis From 2019 To 2023 Report, Global Electric Bicycle Market To Hit 21,347 Million By 2023.
— 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. Because of e-bikes, cyclists get to enjoy fresh air and countryside holiday without breaking a sweat. Riding an e-bike can be less exhausting than a traditional bicycle. Global Electric Bicycle Market Research Report, 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
The key players in electric bicycle market 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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Global Electric Bicycle Market Overview:
Electric bicycles (or e-bikes) contain integrated electric motors that can be used for propulsion. E-bikes use rechargeable batteries that can travel up to 25 to 32 km/h, depending on the country’s government regulation. This increase in the demand for riding e-bicycles, will result in the growth of global e-bicycle market. Modern tourism is closely linked to development and covers the high number of new destinations. These dynamics have turned tourism into a key driver for the automotive industry. The expanding transport projects in emerging nations are expected to reveal greater logistics opportunities and raise the demand for both, commercial and passenger vehicles in Asia Pacific over the forecast period.
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.
The circumstances for development plans have fortified the market for potential new entrants. The advance in the products and services is the leading factor escalating the market's output and directing the trends that are acquiring distinction in the market. The changes seen in terms of strategy execution and creation are varying the growth pace of the market. The deficits in the market are filled due to the application of appropriate supply chain strategies. The growth patterns are reviewed in tandem to the customer preferences to gather maximum growth, and in the long run, productivity. The progress in the products and services is the leading factor in growing the market's productivity and monitoring the trends that are obtaining standing in the market. The critical success factors and players’ tendencies are gradually escalating by the strategies being used by market competitors.
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.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
List Of Figures:
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 VALUE CHAIN ANALYSIS
FIGURE 8 GLOBAL ELECTRIC BICYCLE MARKET SHARE, BY TYPE, 2016 (%)
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