Assessment of the Global Electric Bike Market
The recent study on the Electric Bike market is a comprehensive analysis of the various parameters that are likely to influence the growth of the Electric Bike market. The historical and current market trends are taken into consideration while predicting the future prospects of the Electric Bike market. Further, the study introspects the major trends that are likely to impact the growth of the Electric Bike market during the forecast period, 20XX-20XX.
The investors, stakeholders, emerging and established players can leverage the data included in the report to develop impactful growth strategies and improve their position in the current Electric Bike market landscape. The report provides a thorough assessment of the micro and macro-economic factors that are expected to impact the growth of the Electric Bike market.
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The competitive assessment section provides insights related to the developments made by leading players in the Electric Bike market in terms of product development, mergers, collaborations, and more. The product portfolio of each company is evaluated along with its pricing structure and marketing strategies.
The regional assessment chapter of the report offers an in-depth understanding of the growth prospects of the Electric Bike market across different geographies such as:
The adoption pattern of the Electric Bike across various end-use industries is highlighted in the report and represented using informative graphs, figures, and tables. The different end-use industries studied in the report include:
manufacturers are involved in the reduction of the overall weight of the electric bikes with a view to enhance the performance, with the help of new techniques and by using alternative raw materials. The pedelec product segment is estimated to be the largest segment by product type and is expected to dominate the global market throughout the period of forecast. The rising health awareness among people is the main reason supporting the growth of the pedelecs segment. Asia Pacific excluding Japan (APEJ) region is expected to hold more than 4/5th of the global market throughout the period of forecast. The differentiating strategy that the manufacturers could apply is expansion of the product portfolio by enhancing the current product line; and expanding the product range with improved specifications with the help of NPD (new product developments).
The global electric bike market is expected to grow at a steady growth rate and is poised to register a CAGR of 3.1% during the period of forecast of 2017 to 2027. The global market will reflect a value of more than US$ 27 Bn by the end of 2027. Several opportunities, trends, restraining factors, etc., decide the fate of the market, its growth path and hence the future prospects within the market that could be exploited by the players present in the global electric bike market.
Electric bicycles to move faster than motorcycles
Pedelec (or electric bicycles) segment by product type is anticipated to grow at a higher growth rate as compared to other segments in the product category. The pedelec segment is expected to reach a value of more than US$ 14 Bn by the end of 2027 representing a CAGR of 3.2% during the period of forecast. The popularity of the pedelec category is rising owing to the health benefits pedelecs offer, such as lowering the risk of metabolic syndrome, obesity, as well as hypertension. With this growth rate, it can be inferred that the number of units of pedelecs manufactured in 2017 and 2027 are likely to be more than other segments, hence establishing dominance in the global electric bike market with respect to value as well as volume.
Following the pedelec segment, the electric scooter segment is expected to show moderate growth – a shade less than the pedelec segment – and is more inclined towards high growth and moderate value in 2017. However, considering its growth rate, this trend is expected to change and it would shift towards high growth and high value throughout the period of forecast of the global electric bike market.
Several drivers are expected to influence the growth of the global electric bike market in the coming decade.
- Increasing government subsidies and incentives on the purchase of electric bikes, thereby attracting more customers
- Silent operation, less sound emission, very less fuel requirement and hence less air pollution
- Considered as an alternative to fuel operated vehicles, and considered as a clean technology in the automotive sector. This has spurred the consumption of electric bikes
- Rising fuel prices due to never ending demand for fuel has triggered an increase in the adoption of electric bikes as a convenient and better alternative
- Increasing purchasing power of consumers owing to rising disposable income
- Reduction in the overall percentage of air pollutants as compared to conventional vehicles
- Increased health consciousness among people that has spurred the use of pedelecs that serve transportation needs as well as offer health benefits
- Better conservation of fuel along with better efficiency pushing the demand for electric bikes, thereby influencing the growth of the global electric bike market
APEJ remains the most lucrative regional market with a high market attractiveness for the electric scooter, electric motorcycle and mostly for the electric bicycles or pedelecs segments as compared to other regions. As far as product types are concerned, the APEJ region is favourable for the growth of the pedelecs segment, which is expected to grow at a higher CAGR of 3.3% as compared to the pedelecs segment in North America that is poised to register a CAGR of 2.7% during the period of forecast.
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Valuable Market Insights Included in the Report
- Recent collaborations, mergers, acquisitions, and partnerships
- Revenue growth of the Electric Bike market over the assessment period
- Value chain analysis of prominent players in the Electric Bike market
- Regulatory framework across different regions impacting the Electric Bike market trajectory
- Recent technological advances and innovations influencing the Electric Bike market
The report addresses the following queries related to the Electric Bike market
- How have the production techniques evolved in recent years?
- How can the emerging players in the Electric Bike market establish their foothold in the current Electric Bike market landscape?
- The market in which region is expected to witness the highest growth during the forecast period?
- What is the projected value of the Electric Bike market in 2019?
- How can the emerging players in the Electric Bike market solidify their position in the Electric Bike market?
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