Electric Bicycles Market: 2018 Global Industry Size, Share Forecast to 2023
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Electric Bicycles Market Report 2018: Global Industry Size, Share, Growth, Manufactures Analysis To 2023of 100 pages expands comprehensive information on Global Electric Bicycles Market Information by Type (Pedal Assist or Pedelecs, Power On Demand, And Pedal Assist With Power On Demand), Battery Type (Sealed Lead Acid and Li-Ion Battery), Motor Type (Hub Motor and Mid Drive Electric) and region Global Forecast To 2023.
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Electric Bicycles Companies analyzed in report are:
NYCeWheels (U.S.), Accell Group (Netherlands), Derby Cycle (Germany), Easy Motion USA (California), Moustache Bikes (France), 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).
Electric Bicycles Industry 2018 To 2023 Market Analysis:
Electric bicycles are also known as e-bike. The electric bicycle contains an integrated electric motor that can be used for propulsion. There are various types of e-bike across the globe such as pedal assist or pedelecs, power on demand, and pedal assist with power on demand. They use rechargeable batteries which can travel up to 25 to 32 km/h depending on the government regulations of the country. The electric bicycle market is expected to grow over the CAGR of around 5.91% during the period 2017 to 2023.
The factors that are responsible for the growth of electric bicycle market are growing demand for E-Bikes among tourist, growing demand for E-Bikes among tourists, provides rides with less physical effort, and increase in fuel price. Due to the rising concerns regarding environmental pollution, many governments across the world have implemented several regulations and policies to reduce vehicle emission during the last few years. Global warming has also created a major threat to the environment and human life.
Moreover, the emergence of eco-friendly vehicles has also been played a major role in the increasing sales of e-bike. In Europe, people are more encouraged and have created much awareness for eco-friendly vehicles. Additionally, the rising health concerns, and growing demand for e-bike from tourists, have propelled the European market for e-bike. Along with this, governments along with agencies such as European Environment Agency and others, have set certain regulations on vehicles to reduce the emission. As a result, a large pool of population have shifted their preferences towards electric vehicles such as e-bikes.
According to California standard, the electric bicycle is equipped with fully operated pedals and electric motors of less than 750 watts are segregated in three classes, as:
Class 1: Low-Speed pedal-assisted electric bicycle.
Class 2: low-speed throttle-assisted electric bicycle.
Class 3: speed pedal-assisted electric bicycles.
On the basis of region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific region has accounted for the largest market share due to the presence of China, Japan and India. They are one of the major factors that is driving the electric bicycle market. China is the largest market for electric bicycle. Since 2015, the sales have grown massively in China. However, it has created an ample scope for the automakers to cover the region. With the global economy witnessing extraordinary growth in major emerging countries such as China, India, Thailand, and Indonesia are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, more and more people are able to own bicycles, particularly in emerging Asian economies such as China and India. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for electric bicycle will also rise. Europe is second largest market in the global electric bicycle market due to the increased demand of electric bicycle in this region. Europe is one of the most visited places where e-bikes are increasingly becoming the choice of travel, for tourists. Cycle tourism is increasingly becoming synonymous with active tourism. People indulge in cycling activity to experience nature and also enjoy it as a sporting activity. The e-bikes are extremely popular among older female cycle tourist, especially over the age of 50. They are evidently becoming an important choice of holiday destinations in Europe. Due to this the market is expected to grow during the forecast period. The Netherland is the ultimate destination for cycling enthusiasts. The country has excellent infrastructure, mild climate, and shorter distances and also has flat landscape which makes cycling a predominant form of transport. The country has 35,000 kilometers of dedicated bicycle paths and cycling contributes to 27% of all trips made by the Dutch. This growth in the cycling have led to the growth of the market during the forecast period.
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Target Audience of Report:
This report mainly focuses on Electric Bicycles market Distributer & Supplier companies, and end Users. Investment bankers and consultants with end user for Electric Bicycles market also analyzed. And finally Government and Independent Regulatory Authorities involved with Global Electric Bicycles market studied.
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