Mar 17, 2020 (Heraldkeepers) -- Electric Bicycles Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation 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 significant competitors in electric bicycle market globally are –
Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Karbon Kinetics Limited (KKL) (U.K.), Jiangsu Xinri E-Vehicle Co., Ltd. (China), Moustache Bikes (France), NYCeWheels (U.S.), Pedego Electric Bikes (California), myStromer AG (Switzerland), and A2B Electric Bikes (U.K) are among others.
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Electric Bicycles Market- Overview
Increased concern and awareness about the concepts of health and wellness and the scale of impact that standard vehicles have on the environment has boosted the demand for electric bicycles. Market reports related to the automobile industry have been offered by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market stands to gain USD 21,347 million in revenues while growing with a CAGR of 5.91% in the forecast period.
The Global Electric Bicycle Market has been considerably boosted due to the strict government policies that have been in effect. The concept of eco-friendly vehicles has also gained significant traction that translates positively for the development of the electric bicycle market. The rise in bicycle tourism is also projected to positively influence the growth of the market in the upcoming forecast period.
The strategic goals intended for the market are reinforced due to favorable product differentiation carried out by market competitors. The growth of the market is moving in a favorable direction due to new product launches or rising gross revenue of the players in the market. Significant reductions in administrative costs is inducing further expansion of the market. The vertical additions and product tactics of the market are boosting the potential of the market players. The development of a robust value chain is further motivating the development of the market. Increased adaptability of market players to new market trends and customers inclinations are lifting the growth curve of the market and will continue do so in the forecast period. The successful implementation of strategies is expected to motivate the market in the coming years.
June 5 th , 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 17 th , 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.
Dec 2018 Jump, which is an Uber-owned bike rental company has recently revealed the design for its newest electric bicycles, which has a phone dock for comfortable navigation and a retractable lock to deter vandalism. The bikes which are scheduled to roll out in cities where Jump is active from January 2019.
Dec 2018 Mobycy, which started in Gurugram, India is gearing up to unveil its new e-scooter sharing in Hyderabad and is working with the city's metro service operator to offer last-mile connectivity to stations.
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.
The segmental analysis of the electric bicycle market is carried out 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 with power on demand and pedal assist/ pedelecs. Based on battery type, the electric bicycle market is segmented into Li-Ion Battery and sealed lead acid. Based on motor type, the electric bicycle market is segmented into mid drive electric and hub motor. The regions considered in the electric vehicle market are North America, Europe, Asia Pacific and rest of the world.
Detailed Regional Analysis
The region-based assessment of the electric bicycle consists of regions such as Asia Pacific, Europe, North America, and Rest of the World. Amongst these regions, the Asia Pacific region is directing the electric bicycle market. The presence of developing nations such as Japan, China, and India is one of the foremost factors motivating the electric bicycle market globally. China is the foremost market for electric bicycles. Since 2015, the sales for electric bicycles have escalated rapidly in China while outgrowing the U.S. China is currently the most appealing market for electric bicycles. China has also further strengthened its industry leadership by making profits across all areas of the supply side of electric bicycles as well as current and projected production of electric bicycle and their parts, such as lithium-ion battery cells and electric motors.