According to a new market report published by Lucintel, the future of the electric bicycle (e-bike) market looks promising with opportunities in the areas of travelling, exercise/fitness, and recreational activities. The 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.
Browse 121 market data tables and 167 figures spread through 217 pages and in-depth TOC on “Electric Bicycle Market"
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In this market, different types of electric bicycle such as cargo, fat tire, mountain, standard, and others are used as bicycle type. On the basis of comprehensive research, 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.
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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.
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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 among the major electric bicycle manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the electric bicycle market by bicycle type, propulsion type, usage type, motor type, battery type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Electric Bicycle Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the 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 [Value ($ Million) and Volume (Million Units) from 2013 to 2024]:
- North America
– United States
– Canada
– Mexico
- Europe
– Germany
– United Kingdom
– France
– Spain
– Italy
- Asia Pacific
– China
– Japan
– India
– South Korea
– Australia
- The Rest of the World
– Brazil
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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 click on this link https://www.lucintel.com/electric-bicycle-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers 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 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 by 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 regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some 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 being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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