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I AgreeAnalysis of Pedelec market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Fact.MR- a market research & competitive intelligence provider- establishes that the global market for pedelecs is anticipated to reach US$ 55 Bn by the end of the 2021-2031 forecast period. As of 2021, the market is expected to be valued at US$ 28 Bn. As per the report, the industry is slated to witness an expansion rate of nearly 2x.
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According to Fact.MR’s report, over the last five years, from 2016 to 2020, the sales of pedelecs exceeded US$ 26 Bn in 2019, registering a growth of 3.1% y-o-y compared to 2018. Overall, the CAGR across the historical period amounted to over 3% in value terms.
Manufacturers of pedelecs are focusing on making pedelecs light-weight. In addition, newer noiseless pedelecs are driving the sales of pedelec. Also, companies are innovating pedelecs that need less maintenance. During the COVID-19 pandemic, rising importance of physical fitness prompted consumers to invest in pedelecs and e-bikes, largely expanding sales in the previous fiscal.
Thus, due to the aforementioned factors, the sales of pedelec market is expected to surpass US$ 55 Bn by registering a CAGR of 7% by the end of the 2021-2031 assessment period.
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With the growing awareness about the negative effects of internal combustion engines in conventional vehicles on the environment, consumers are making a shift away from petrol/diesel vehicles. Unlike IC engines in vehicles, pedelecs generate no harmful emissions and do not contribute to air pollution, thereby, providing a sustainable mode of transportation. Thus, the environmental relevance of pedelecs is one of the most important factors accelerating growth of the market.
While increased environmental awareness has provided a fillip to the global sales of electric vehicles, health-conscious consumers are more inclined towards purchasing pedelec. Owing to their positive impacts on the environmental health as well as physical health, the number of pedelecs sold across the world is expected to surge in the coming years.
Along with its minimal carbon footprint, pedelecs are gaining popularity among consumers as they provide a convenient solution to their fitness needs and urban congestion. Manufacturers are shifting their focus on research & development of advanced solutions to eliminate drawbacks of pedelecs associated with an imbalance between torque and speed.
Pedelec market players are aiming to introduce advanced technological solutions, such as intelligent control systems, which can enable the implementation of automatic or semi-automatic transmission for optimized energy utilization in pedelecs. Technological developments like these are likely to become predominant trends in the pedelecs market in upcoming years.
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The market for pedelecs is experiencing positive growth since the past few years, however, with the increasing sales of pedelecs across the world, governing bodies have developed some standards and regulations to ensure safety of the bicycles.
Governing organizations across the globe have developed some legal criteria that all the pedelecs manufactured and marketed must conform to, which have influenced pedelec market players to modify their salient business strategies. This, in turn, is propelling the sales of pedelec as they adhere to the safety norms.
For instance, The U.K government recently made amendment in the Electrically Assisted Pedal Cycles Regulations 1983, which modified the maximum permitted power of the electric motor in pedelecs and weight limits. Likewise, the European Commission has imposed the Motor Insurance Directive on pedelecs launched in the European markets.
The Australian government has published a document on ‘Vehicle standards information’, which covers rules and regulations on mopeds and power-assisted pedal cycles (pedelecs). In addition, in the U.S., the Consumer Product Safety Commission (CPSC) has developed some guidelines and standards to regulate the manufacturing and sales of electric bikes, including pedelecs, to protect the consumer health from risks of injury or death associated with the use of pedelecs.
According to the Fact.MR’s study, Asia is expected to lead the market for pedelecs, capturing nearly 80% of global market demand. The industry is gaining momentum on account of burgeoning production of batteries, ongoing R&D by pedelec market leaders, and favorable regulatory framework in the region.
China and India are amongst the most lucrative growth regions for growth for pedelec market players. Especially in China, over 200 million consumers have registered their electric bikes and approximately 30 million new electric bikes are sold each year, according to statistics published by the Ministry of Industry and Information Technology (MIIT).
Likewise, according to GoZero Mobility, the market for e-bikes in India is likely to surge to as much as 200,000 units by 2022, up from a mere 6,500 units in FY 2019-20. This 3x increase is expected to be driven by rising consciousness about maintaining personal fitness.
Europe is likely to generate more lucrative opportunities for pedelec industry with growing environmental and health concerns among consumers. In addition, leading manufacturers are introducing space-effective pedelecs. The EU Mobility Atlas, e-bike sales represent about 17% of EU bicycle sales, going up by 50% in some countries.
This spike in sales is majorly attributed to the fact that pedelecs are effective substitutes to conventional motor vehicles, especially while travelling short distances, while possessing all the benefits of conventional bicycles. Additionally, reduced maintenance costs are further fuelling pedelec adoption prospects across the continent.
Countries such as Germany, the Netherlands, France and Italy are creating huge demand for pedelec manufacturers. Not only are these countries using pedelecs on large scale but they are also exporting pedelecs to other countries. Thus, Europe is expected to possess more than 45% of market share for pedelecs.
Lithium-ion batteries are environmentally friendly. Thus, its adoption is taking place on a large scale. Moreover, they have a longer life cycle. This, in turn, reduces the expense of buying new batteries or replacing the old ones. Also, manufacturers of lithium-ion batteries are focusing on reducing the price of the batteries.
Thus, the factors mentioned above are playing a crucial part for the popularity of lithium-ion batteries that are expected to hold more than 50% market share in the market for pedelecs.
Foldable pedelecs are gaining rapid traction among biking enthusiasts, especially due to its ease of portability and mobility. As per Fact.MR’s data, foldable pedelecs sales are anticipated to rise at a CAGR of 7% from 2021 to 2031.
With their small wheels, easy acceleration and sharp manoeuvrability, these bikes offer a convenient alternative to cars, conventional bikes, buses and other means of transport. Furthermore, portable pedelecs occupy less space across commercial and residential buildings.
Manufacturers are capitalizing on introducing new product lines, equipped with the latest mobility technologies. These innovations are aimed at providing a seamless biking experience by providing smooth ergonomics and enhance riding efficiency.
Attribute |
Details |
Market size value in 2021 |
USD 28 Billion |
Market forecast value in 2031 |
USD 55 Billion |
Growth Rate |
CAGR of 7% from 2021 to 2031 |
Forecast Period |
2021-2031 |
Historical Data Available for |
2016-2020 |
Market Analysis |
US$ Mn for Value & Units for Volume |
Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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As of 2021, the market for pedelecs will reach nearly US$ 28 Bn
The pedelec industry is expected to surpass a CAGR of 7% from 2021-2031.
The pedelec market is expected to reach nearly US$ 55 Bn by 2031
Rising inclination towards e-mobility with a view to reduce environmental footprints is spurring pedelec sales
Asia and Europe are the most lucrative regions for pedelec sales.
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 are prominent pedelec market players.
China, Germany and France are amongst the top countries driving demand for pedelecs
Lithium-Ion battery is expected to hold 50% of market share for pedelec industry
The pedelec industry is expected to hold 80% market share throughout Asia.
The pedelec industry is expected to hold around 45% market share throughout Europe.