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Electric Bicycles Market Research Report - Forecast to 2023
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Electric Bicycles Market Research Report - Forecast to 2023

Global Electric Bicycle Market Expected to Garner a CAGR of 5.91% and reach a Valuation of USD 21.347 Million by 2023. Electric bicycles are e-bikes that included integrated electric motors that can be used for the purpose of propulsion. These bikes use rechargeable batteries and a speed of up to 25 to 32 km per hour. However, the speed limit depends on the individual country's government regulations. Market Research Future (MRFR) is a market leader in the growth of the market. The study mentions that the global valuation of the market will reach a projected figure of USD 21.347 million by the end of the forecast period and a compound annual growth rate of 5.91% between 2015 and 2023.

The market growth of electric bicycles can be attributed to a large pool of factors. The increasing number of eco-friendly vehicles in the world, and rising prices are some of the major market drivers. With the help of e-bikes, cyclists the opportunity to enjoy the air. The comfort and convenience offered by electric bicycles is a key growth driver of the market. The growing number of transport projects in various countries are expected to open up to Asia Pacific. Moreover,

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Market Segmentation

The global electric bicycle market segmentation is based on key dynamics like type, motor type, and battery type.

By type, the market segments in Pedal Assist with Power on Demand, Pedal Assist (or Pedelecs), and Power on Demand. The segment assists the largest share of the market in this category. Pedal assist is a mode available in e-bikes where the power is provided only when you pedal. This mode is highly comfortable and widespread across the globe than throttle. Under this mode, the rider does not need to control the throttle and can only focus on pedaling. These pedal assist bicycles boast different levels like medium, high, and low. Based on the level of assistance required, a rider can experience the comfort that is available with wrinkles.

By battery type, Li-on battery.

By motor type, the market breaks down into an electric motor.

Regional Analysis

The global electric bicycle market is regionally distributed across the following geographical areas: Asia Pacific, Europe, North America, and the Rest of the World (RoW).

Globally, the Asia Pacific region holds the stand out positioning and is expected to be the case in the coming years. The presence of various emerging developing economies like India, Japan, and China is pushing the growth of the market. China is one of the key players in the global market and is considerably contributing to the overall growth of the Asia Pacific region. Elsewhere, the US region is contributing significantly to the expansion of the North American regional market. 

Competitive Landscape

The global electric bicycle market includes key and prominent players like Derby Cycle (Germany), Accell Group (Netherlands), Easy Motion USA (California), NYCeWheels (U.S.), Pedego Electric Bikes (California), Moustache Bikes (France), myStromer AG (Switzerland), Jiangsu Xinri E-Vehicle Co., Ltd. (China), Karbon Kinetics Limited (KKL) (U.K.), and), A2B Electric Bikes (U.K) among others.

June 5th, 2019, Delfast made a breaking announcement for the electric cycling industry when it updated its newest high-speed electric bicycle. The bicycle named Top 2.0 holds the potential to push the limits of any other e-bike and can reach a top speed of 50 mph.

May 17 th , 2019, Nua Bikes, a Barcelona-based biking company, announced the launch of its new e-bike named Zehus Bike +. The company mentions that the bike holds a range of 30km if the rider is using the pedal assisted mode and limits the speed to 25km.

For more news visit: to-2023-2019-02-08

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