Sep 25, 2019 (WiredRelease via COMTEX) -- Market.us has published a new deep-dive market assessment study on “ Global Bicycle Motors Market Increased Growth Rate, Revenue, Share, Analysis and Forecast 2018-2028″ Intensive research on the market showcases promising growth trajectory of the market. The Global Bicycle Motors Market is projected to be US$ 9,693.4 Mn in 2018 to reach US$ 17,561.4 Mn by 2028 at a CAGR of 3.5%.
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SWOT Analysis by Leading Key Players Includes:
Robert Bosch GmbH
Yamaha Motor Co.Ltd.
Brose Fahrzeugteile GmbH & Co. Kommanditgesellschaft
Derby Cycle AG
Accell Group NV.
A bicycle motor is an electric instrument that provides power to an e-Bicycle or electrified bicycle. Bicycle motors are of various types such as hub motors, that are directly attached to the wheels of the bicycle or crank motors, that generally work in concert with the gear of the bicycle and other types. Rise in the number of traffic jams in the metro cities and the increasing prices of four-wheelers, two-wheelers, petrol and diesel also play an essential role in the growth of the market.
Apart from being environment-friendly and budget-friendly, e-Bicycles are fast too as compared to conventional bicycles. Owing to all these advantages, the usage of e-Bicycles is increasing globally.
A rapid increase in the number of cities worldwide and hence the increase in the number of vehicles are responsible for the rise in traffic jams. Thus, people prefer to use e-Bicycle which is an easy way to escape the traffic jam and heavy traffic of cities.
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Global Bicycle Motors Market Revenue (US$ Mn), 2018-2028
However, High price range of e-Bicycles restricts several customers from buying these bicycles. Nonetheless, Governments in various countries are promoting cycling and walking as a means to commute, keeping in consideration the health issues of their citizens due to the lack of physical activity. Governmental bodies in some countries organize various sports events that include cycling, while in some countries governments provide funding to provide cycle proficiency training to children. All these measures cumulatively are forecasted to increase the sale of e-bicycles worldwide.
Key Questions That the Report Answers From Product Type Standpoint:
On the basis of product type, the market is segmented Hub Motors and Crank Motors. The Hub Motor accounts for the majority share in the global Bicycle Motors market, and the same segment is expected to register the highest growth rate over the forecast period.
Key Questions That the Report Answers From Application Standpoint: