Electric Bicycle Industry - 2018 Global Market Analysis To 2023 By Size, Trends, Share, Growth, Share, And Region

Electric Bicycle Market 2018 - Global Industry Forecast to 2024, is latest report on Global Electric Bicycle Market Size, Trends, Share, Growth, And Regional Outlook To 2023. Global Electric Bicycle Market 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.

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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.

Market Highlights:

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.

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. This comfort of riding enables people to adopt this type of bicycles. 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.

Electric Bicycle Market is expected to reach a market size of USD 21,347 million by 2023, with a CAGR of 5.91%.

Furthermore, the market is expected to witness growth opportunities over the forecast period as various governing bodies have launched initiatives with the purpose to build bicycle highway lanes for e-bikes and motorized vehicles. The schemes are funded with a huge budget, and it will also focus on improving the biking infrastructure. There have been proposals to develop two-way bike lanes on one-way streets to ensure quick commuting of cycles. This will ensure a higher use of bikes than the metro, for daily commute. 

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Amongst these, the Asia Pacific region is dominating the electric bicycle market. Presence of developing nations such as China, Japan and India is one of the major factors driving the electric bicycle market. China is the largest market for electric bicycle. Since 2015, the sales have grown massively in China. Outgrowing U.S., China is now the most attractive country for electric bicycles. China has strengthened its industry leadership by making profits across all scopes of the supply side of electric bicycles including current and projected production of electric bicycle and their components, such as electric motors and lithium-ion battery cells.

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