Electric Bicycles Market Research Report shows Unparalleled Surge in Industry at 4.5% CAGR, Forecast to 2023

Global Electric Bicycles Market Information Report, By Electric Bicycle Type (Pedal Assist Or Pedelecs, Power On Demand and Pedal Assist With Power On Demand), By Battery Type (Sealed Lead Acid Battery, Li-Ion Battery Type), By Motor Type (Hub Motor, Mid Drive Electric) and By Region - Global Forecast to 2023

The Electric bicycle market is expected to grow over the CAGR of around 4.5% during the period 2017 to 2023.

Market Highlights

Global electric bicycle market is witnessing a strong growth with many companies are manufacturing new electric bicycle for variety of purposes. The electric bicycle are majorly used for daily commuting and tourism purposes. With the motor enabling propulsion, it is very easy to travel long distances and with advancement in the battery technologies, recharging is also very easy. There are increased government initiatives for the sales of electric bicycle because use of electric bicycle reduce traffic congestion, and also they reduce vehicular carbon emissions.

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Market Research Analysis

Electric bicycle or pedelecs are increasingly becoming popular among cyclists. The electric bicycle are a promising alternative option for new form of urban transport in cities. The main advantage of using an e-bike is the fact that they are as fun as regular bicycles, they have zero emissions, and they are easy to ride and park and has lot of power than traditional bicycles. The electric motor in the e-bike provides additional power assistance when pedaling up a hill or trekking on a mountain trip. The E-MTB (Mountain Bike) segment is the fastest growing segment in the e-bike market and they appeal to younger age people. The electric bicycle are gaining popularity because of same legal status like conventional bicycles and motorcycles and are an attractive alternative for cars. There are wide range of e-bike models to choose from and like traditional bicycles, electric bicycle can be carried in public transportation systems like buses, trains and trams.

Key Players

The key players of the global electric bicycle market are NYCeWheels (USA), Accell Group , (Netherlands), A2B Electric Bikes (UK), Derby Cycle (Germany), Easy Motion (USA), Moustache Bikes (USA), Jiangsu Xinri E-Vehicle Co. Ltd (China), myStromer AG (Switzerland), GoCycle (UK) and Pedego Electric Bikes (USA).

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Scope of the Report

This study provides an overview of the global Electric bicycle market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Electric bicycle market by E-Bike Type, by battery type, by motor type and by regions.

By E-bike type
• Pedal assist (Pedelecs)
• Power demand with pedal assist
• Power demand only

By Battery Type
• Sealed Lead Acid Battery
• Li-ion battery type

By Motor Type
• Hub motor
• Mid drive electric motor

By Regions
• North America
• Asia Pacific
• Europe
• Rest of the World

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This release was published on openPR.