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 with global Forecast till 2023.
The significant companies in electric bicycle market globally are Accell Group (Netherlands), NYCeWheels (U.S.), Derby Cycle (Germany), Easy Motion USA (California), myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K.), Moustache Bikes (France), and Jiangsu Xinri E-Vehicle Co., Ltd. (China), Pedego Electric Bikes (California), and A2B Electric Bikes (U.K) are among others.
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Electric Bicycles Market Overview:
The traffic levels are burgeoning worldwide; this has created a potential market opportunity for electric vehicles globally. Market reports linked to the automobile industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to gross income worth USD 21,347 million while developing with a CAGR of 5.91% in the duration of 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 segmentation of the electric bicycles is segmented on the basis of type, battery type, motor type and regions.
On the basis of type, the electric bicycle market is segmented into power on demand, pedal assist/ pedelecs, pedal assist with power on demand.
On the basis of battery type, the market is segmented into Li-ion battery and sealed lead acid.
On the basis of motor type, the electric bicycles market is segmented into mid drive electric and hub motor. By Regions, the market is segmented into Asia Pacific, Europe, North America and rest of the world.
Detailed Regional Analysis:
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 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.
Sep 2018 Uber has lately declared that it is moving more of its emphasis towards light electric vehicles such as electric scooters and bicycles. As a result, Uber has declared that it plans to fix electric bicycle charging stations for its brand of Jump electric bicycles. Uber had earlier this year purchased the electric bicycle-sharing company Jump in a $100M purchase deal that signaled the company’s entry into the communal e-bike and e-scooter market.
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