According to a new market report published by
Lucintel, the future of the global electric bicycle (e-bike) market looks
promising with opportunities in the areas of travelling, exercise/fitness, and
recreational activities. The global electric bicycle market is expected to
reach an estimated $21 billion by 2024 with a CAGR of 12.5% from 2019 to 2024.
The major drivers for this market are increasing health conscious consumers, high
traffic congestion, environmental concerns, and increasing government
initiatives to promote cycling in order to reduce carbon emissions.
In this market, various e bicycles, such as
cargo, fat tire, mountain, and standard bikes are used for travelling,
exercise, and other purpose. On the basis of its comprehensive research, Lucintel
forecasts that cargo e-bikes will remain the largest segment and it is also
expected to witness the highest growth over the forecast period due to increasing
use in time-critical deliveries, such as parcels, mail and smaller shipments in
the industries of food, building, and logistics.
Within the e-bicycle market, travelling will
remain the largest segment over the forecast period due to rapid urbanization
and increasing traffic congestion around the world. Lucintel forecasts that, e-bicycle
for exercise/fitness is expected to witness the highest growth over the
forecast period due to increasing heath awareness among consumers.
Asia Pacific will remain the largest region
over the forecast period due to the government initiatives to promote healthier
lifestyles of citizens, development of cycling infrastructure, and increasing
usage of bicycles as a sustainable mode of transportation.
Emerging trends, which have a direct impact on
the dynamics of the market, include development of luxury folding e-bikes and high
tech electric bike with smartphone integration. Giant Manufacturing, Accell,
Merida Industry, Pedego Electric Bikes, Ideal Bike, Leder 96, Cannondale, BH
Bikes, Zhonglu, and Prodeco Tech are the major manufacturer in the global electric
bicycle market.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global electric bicycle market by bicycle type, propulsion
type, usage type, motor type, battery type, and region. Lucintel has compiled a
comprehensive research report entitled “Growth
Opportunities in the Global Electric Bicycle Market 2019-2024: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as a
catalyst for growth strategy, as it provides comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast for the
global electric bicycle market by bicycle type, propulsion type, usage type, motor
type, battery type, and region, as follows:
By Bicycle Type ($ Billion from 2013 to 2024):
- Cargo
- Fat Tire
- Mountain
- Standard
- Others
By Propulsion Type ($ Billion from 2013 to
2024):
- Pedal Assisted Electric Bicycles
- Throttle on demand Electric Bicycles
By Usage Type ($ Billion from 2013 to 2024):
- Travelling
- Social
- Exercise/Fitness
- Others
By Motor Type ($ Billion from 2013 to 2024):
- Hub Motor
- Mid Drive
- Others
By Battery Type ($ Billion from 2013 to 2024):
- Lead Acid
- Lithium Acid
- Nickel Metal Hydride
- Nickel Cadmium
- Others
By Region ([Volume (Million Units) and $B Shipment
analysis from 2013 to 2024]:
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
United Kingdom
o
France
o
Spain
o
Italy
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Australia
- The Rest of the World
o
Brazil
This
217-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel
offerings include Consumer
Goods Report, Consumer
Market Report, Merger
& Acquisition, Due Diligence and
Strategic
Growth Consulting.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. We offer market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers the following 11 key questions:
Q.1. What are some of the most promising, high growth
opportunities for the electric bicycle market by bicycle type (cargo, fat tire,
mountain, standard, and others), by propulsion type (pedal assisted electric
bicycle and throttle on demand electric bicycle), by usage type (traveling,
social, exercise, and others), by motor type (hub motor, mid drive, and
others), by battery type (lead acid, lithium acid, nickel metal hydride, nickel
cadmium, and others), and region (North America, Europe, Asia Pacific, and the
Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market? Which companies are
leading these developments?
Q.9. Who are the major players in this market? What strategic
initiatives are key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big
of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
