Opportunities for the electric bicycle market to reach $18.2 billion by 2025
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. Theglobal electric bicycle market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $18.2 billion by 2025 with a CAGR of 7% to 9% from 2020 to 2025. 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”
To download report brochure, please go to https://www.lucintel.com/electric-bicycle-market.aspx and click “report brochure” tab from the menu.
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.
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 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 2020-2025: 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 2014 to 2025):
- Fat Tire
By Propulsion Type ($ Billion from 2014 to 2025):
- Pedal Assisted Electric Bicycles
- Throttle on demand Electric Bicycles
By Usage Type ($ Billion from 2014 to 2025):
By Motor Type ($ Billion from 2014 to 2025):
- Hub Motor
- Mid Drive
By Battery Type ($ Billion from 2014 to 2025):
- Lead Acid
- Lithium Acid
- Nickel Metal Hydride
- Nickel Cadmium
By Region [Value ($ Million) and Volume (Million Units) from 2014 to 2025]:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- The Rest of the World
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 firstname.lastname@example.org.
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.
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