Industry Growth, Trends, Opportunities & Forecasts – EcoChunk
According to the recent report by IMARC Group, the global electric bicycle market size reached US $ 20.1 billion in 2020. Looking ahead, IMARC Group expects the market to show moderate growth over the course of the year. for the period 2021-2026.
Baseline year: 2020
Forecast year: 2021-2026
Download a free sample of the report: https://www.imarcgroup.com/e-bike-market/requestsample
Definition and application of industry:
An electric bicycle refers to a bicycle with several electrical components such as a motor, a battery, and a controller. With the addition of an electric motor, the rider can easily overcome obstacles and climb slopes without much difficulty. It works on rechargeable batteries as well as while pedaling. A single charge of the batteries can help the rider to cover long distances, which is why these bikes have become a cost effective option for commuters. Moreover, it is an environmentally friendly means of transportation compared to other vehicles like cars and motorcycles.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
Global Electric Bicycle Market Trends:
One of the major factors influencing the demand for electric bikes is the growing awareness of the health benefits of cycling among the masses. A lack of physical activity and a change in eating habits have led to an increase in the prevalence of lifestyle-related diseases such as obesity and diabetes. As a result, people tend to ride a bicycle to improve their health, combat weight gain issues, and improve their aerobic fitness. Apart from this, several cities are facing the problem of traffic congestion due to the presence of more automobiles. With this in mind, several governments and civic organizations are taking initiatives to reduce traffic jams by promoting the use of electric bicycles. In addition, rental services have emerged in several countries in recent years, due to the rise of shared micromobility services. For example, electric bikes are widely available for rental in metropolitan areas of the United States, China, Japan, and India, among others. In addition, technological advancements have led to the advent of hydrogen bicycles and the Intelligent Electric Bicycle Monitoring System (SEMS), which are creating positive prospects for the market.
The competitive landscape of the market has been analyzed in the report, with some of the major players being
- Continental SA,
- Tianjin Fuji-ta Group, P
- rodecotech LLC,
- Trek Bicycle Corporation,
- Shimano, Inc.,
- Pedego Electric Bikes,
- Giant Manufacturing Co. Ltd.,
- Klever Mobility,
- Merida Industry Co. Ltd.,
- Samsung SDI Co.,
- Accell Group,
- Robert Bosch GmbH,
- Yamaha Motor Company,
- Derby Cycle AG.
Browse the full report with the table of contents and the list of figures and tables: https://bit.ly/3vVx4Na
- Based on the mode, the market has been divided into pedal assist and accelerator assist.
Based on the type of motor, the market has been divided into mid-drive, hub motor, and others.
Based on battery type, the market has been segmented into lithium ion, lead acid, nickel metal hydride (NiMH), and others.
- On the basis of the class, the market has been separated into classes I, II and III.
Based on the design, the market has been categorized into foldable and non-foldable categories.
Based on the app, the market has been categorized into Mountain / Trekking, Cargo, City / Urban, and others.
- Regionally, the market has been separated into North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe.
Browse related reports:
US Electric Bicycle Market Share: https://www.imarcgroup.com/united-states-e-bike-market
Market share of electric bicycles in Europe: https://www.imarcgroup.com/europe-e-bike-market
Asia-Pacific e-bike market share: https://www.imarcgroup.com/asia-pacific-e-bike-market
China Electric Bicycle Market Share: https://www.imarcgroup.com/china-e-bike-market
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