Global Electric Bicycle Market Research Report, by Type (Pedal Assist/ Pedelecs, Power on Demand, Pedal Assist with Power on Demand), Battery Type (Sealed Lead Acid, Li-Ion Battery), Motor Type (Hub Motor, Mid Drive Electric), Regions– Forecast till 2023
The electric bikes, also known as the e-bikes includes integrated electric motors which could be used for propulsion purpose. This type of bikes make use of the rechargeable batteries which could travel 25- 32 kilometer per hour. However, this depends on the rules and regulation set by the government of the region. The global electric bicycle market is growing owing to factors like the advent of the eco-friendly vehicles, government mandates on pollution, rising cost of fuel and others. Also, people enjoy riding e-bikes because they are more health-conscious. Modern tourism is also another factor that is leading to the growing demand for the e-bikes. The global electric Bicycle Market is projected to reach a market size of USD 21,347 million by the year 2023, with a CAGR of 5.91% during the estimated period (2017-2023).
The global electric bicycle market is categorized on the basis of its type, battery type, motor type and regional demand. On the basis of its type, the ,market is classified into power on demand, pedelecs or pedal assist, pedal assist with power on demand. On the basis of its battery type, the market is segmented as Li-ion battery and sealed lead acid. Based on its motor type, the market is classified as mid drive electric and hub motor.
Geographically, the global electric bicycle market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Easy Motion USA (California), Moustache Bikes (France), NYCeWheels (U.S.), Accell Group (Netherlands), Derby Cycle (Germany), and Jiangsu Xinri E-Vehicle Co., Ltd. (China,. Pedego Electric Bikes (California), myStromer AG (Switzerland), Karbon Kinetics Limited (KKL) (U.K.), and A2B Electric Bikes (U.K) are some of the key players in the global electric bicycle market.