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Pedelec Market

Lithium-Ion Battery Powered Pedelecs to Yield Over 2/5th of Global Revenue: Fact.MR Study

Published : 06 Oct 2021 Industry: Automotive

Fact.MR’s report predicts the global sales for pedelecs to exceed US$ 55 Bn by registering a positive a CAGR of 7% for the forecast period 2021-2031. Consumers are becoming extremely conscious about the environment and their physical fitness is auguring well for pedelec market players. This, in turn, has spurred the demand for pedelecs.

Historically, between 2016 and 2020, sales of pedelecs surpassed US$ 26 Bn in 2019, experiencing a CAGR of over 3% across the aforementioned period. While initial projections during 2020 appeared glum, amid production crunches experienced during the height of COVID-19. Eventually, however, this translated into an opportunity as consumers began working on their fitness regimes, impelling sales of electric bikes and pedelecs.

Technological advancements in batteries and fuel cells are bringing in new varieties and improved efficiencies of electric motors used in pedelecs, thereby, enabling pedelec market players to launch more energy-efficient models. In addition, pedelecs are space and cost effective. These factors have increased the popularity of pedelecs amongst consumers.

Key Takeaways from the Market Study

  • Asia is expected to possess nearly 80% market share for pedelecs until 2031
  • Europe to account for over 45% of market share from 2021 to 2031
  • By battery type, lithium-ion batteries expected to possess 50% market share
  • Foldable pedelecs expected to surge at a CAGR of 7% across the forecast period
  • China, Germany and France top three countries driving sales of pedelecs market

“Mounting concerns regarding increasing carbon footprints left by conventional fossil fuel driven vehicles is prompting users to switch over to more sustainable transport alternatives, impelling pedelec sales,” opines a Fact.MR analyst. 

Competitive Landscape

Prominent players in the pedelec industry include Giant Bicycle Inc., Yamaha Corporation, Derby Cycle AG, M1-Sporttechink, Helkama Velox, Pedego Electric Bikes, Magnum Bikes USA, Panther International GmbH, Visiobike, and BH Bikes among others.

  • In July 2018, Yamaha Corporation launched the new Civante Class 3 electric power assist bicycles which derives its power from the company’s PWSeries SE motor, which delivers a seamless e-bike assist experience
  • In September 2021, Giant Bicycles Inc. reported that its Defy Advanced Pro, comprising of a lightweight composite frameset engineered for smooth-riding compliance, cleared the Cycling Plus/BikeRadar endurance road bike test, earning the moniker of the ideal top-class endurance bike
  • Shimano, Inc., a cycling component manufacturer, announced that in the second half of the year 2018, it will introduce innovative products to expand the range of Shimano STEPS pedelec systems, mainly focusing on its top model of e-bikes – E800.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global pedelec market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.

The study indulges essential insights on the market on the basis of batter type (nickel- cadmium battery, lithium-ion battery, sealed lead acid battery and nickel metal hydride battery), product type (e-MTB, race pedelec, cross pedelec, urban pedelec and foldable pedelec) and motor topology (centre motor, rear motor and front motor) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

About the Automotive Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant - Industrial Goods and Automotive

E-mail: Shubham@factmr.com

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Pedelec Market to Grow With the Rising Popularity of Lithium-Ion Battery Powered Pedelec during 2021-2031