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Electric Bicycles Market By Component (Controllers, Motors & Drivertrains, Batteries, Li-ion Batteries, SLA Batteries, Others), By Control System (Throttle Control, Pedal Assist), By Age Group (Below 15 Years, Above 15 Years), By Sales Channel (Online, Offline) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Demand for electric bicycles will be positively influenced by rising concerns among people about environmental preservation.

From 2018 to 2026, the electric bicycle market is expected to grow at a compound annual growth rate (CAGR) of 6.5%, reaching US$ 25.64 billion. What distinguishes an electric bicycle from a traditional bicycle is the presence of an integrated electric motor. The functionality of the motor lies in its ability to assist the rider's pedal power. These bicycles run on rechargeable batteries and can reach speeds of more than 25 km/h.In the last couple of decades, the popularity of e-bicycles has grown manifold, and there were around 210 million such bicycles used daily in 2016. China holds a major share of the overall market, and the trend is expected to continue in the years to come. One of the most important factors influencing the adoption of e-bikes is people's growing concern for environmental preservation. The use of electric bicycles greatly reduces ecological footprints, air contamination, and carbon emissions. The fact that these bicycles are not very expensive further aids their adoption among people. Recent crises and the rise in the price of oil have promoted the use of ecological means of transportation, such as the electric bicycle.

Market Synopsis

Current Trends in the Electric Bicycle Market

With the e-bike market booming, people are becoming more and more demanding as far as features and looks are concerned. As per recent trends, e-bicycles are becoming lighter and better looking. Lighter-weight bicycles are made of light materials such as carbon or aluminum. Moreover, in order to give the frame an attractive appearance, the manufacturers are integrating the battery into the frame. In the coming years, additional batteries are expected to become a common trend in order to extend the range of the e-bike. A Germany-based company, Haibike, already has a model with the same concept.

In the coming years, a growing number of urban and suburban residents will seek greener modes of transportation, thereby complementing the e-bike market's growth. This is how electric bicycles will be used as a pillar to support individual public transportation in large cities around the world. According to statistics, about half of the trips and procedures of a normal urban person don't cross 15 km from his or her house, thereby helping the electric bicycle market to flourish further.

In the coming years, research and development efforts will be focused on battery advancements.

A rechargeable battery acts as the source of power for every electric bicycle. With technological improvements, these batteries tend to get smaller, lighter, and more powerful. Therefore, keeping the weight of a battery down while at the same time providing a substantial range remains the top focus for electric bicycle battery manufacturers. Lithium batteries and lead acid batteries are the two most common types of batteries used in electric bicycles. Lead-acid batteries, owing to their low cost, are finding application in entry-level electric bicycle models. However, in the coming years, lithium-ion batteries are expected to find increased application in electric bicycles. One of the most important factors supporting the aforementioned sentence can be attributed to the fact that lithium-ion batteries last longer and generate more power for their weight as compared to other batteries. However, the high price of lithium-ion batteries is an important factor offsetting its application in electric bicycles.

Asia Pacific is expected to remain the largest market throughout the forecast period.

Asia Pacific represents the largest market for electric bicycles worldwide and is expected to register the fastest growth throughout the forecast period. China and India are expected to remain at the forefront in terms of this growth. Moreover, the demand for electric bicycles in China is further supported by the low cost of these bicycles in the country. In recent years, China has exported a large number of electric bicycles to the United States and Europe.

Europe and North America are expected to remain important markets for electric bicycles in the coming years. The presence of a large number of bicycle manufacturers headquartered in the region has helped the market flourish. Moreover, in terms of technology, these regions have always remained at the forefront.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The report elucidates the detailed outline of the global electric bicycle market by categorizing the market in terms of components, control systems, age groups, sales channels, and geography.

Key players profiled in the report include Accell Group, NYCeWheels, Easy Motion USA, Derby Cycle, Jiangsu Xinri E-Vehicle Co., Ltd., Moustache Bikes, Karbon Kinetics Limited, myStromer AG, A2B Electric Bikes, and Pedego Electric Bikes, among others.

Key questions are answered in this report.

  • What was the global electric bicycle market size in 2017, and what is the forecast for 2026?
  • What are the current trends in the electric bicycle market?
  • What are the various valuable opportunities for the players in the market?
  • Which is the largest regional market for electric bicycles?
  • Which region is expected to have the fastest growth and why?
  • What are the future prospects for the electric bicycle market?
  • What are the major drivers and restraints influencing the market's growth?
  • What are the new innovations by the leading players?
  • What are the key strategies adopted by the leading players in the market?

Frequently Asked Questions:

The market for Electric Bicycles is expected to reach US$ 25.64 Bn in 2026.

The Electric Bicycles market is expected to see significant CAGR growth over the coming years, at 6.5% .

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Accell Group,NYCeWheels,Easy Motion USA,Derby Cycle,Jiangsu Xinri E-Vehicle Co. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2018
Category:  Automotive & Transportation
Report ID:   59463
Report Format:   PDF
Pages:   120
Rating:    4.2 (69)
Delivery Time: 24 Hours to 48 Hours   
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