Pedelec Market

Pedelec Market Outlook

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.

Key Points Covered in Pedelec Industry Analysis

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Pedelec Market and How to Navigate
• Recommendation on Key Winning Strategies

Pedelec Revenue Analysis 2016-2020 in Comparison to Future Outlook 2021-2031

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.

How are Environmental and Physical Benefits Improving Sales of Pedelecs?

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.

How are Technological Advancements Defining the Future for Pedelecs?

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.

Are Safety Concerns Regarding Pedelecs Triggering Stringent Regulatory Actions Worldwide?

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.

Country-wise Analysis

How is the Transition towards E-Mobility Impelling Pedelec Sales in Asia?

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.

Why is Europe Attracting Pedelec Manufacturers?

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.

Category-wise Insights

Why is Lithium-Ion Battery Gaining Popularity?

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.

What are the Growth Prospects for Foldable 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.

Competitive Landscape

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.

• 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.

Report Scope

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	North America Latin America Europe East Asia South Asia Oceania  Middle East & Africa
Key Countries Covered	U.S Canada Brazil Mexico Germany UK Spain France Italy Russia India China Japan South Korea Australia New Zealand GCC South Africa
Key Market Segments Covered	Battery Type Product Type Motor Topology Region
Key Companies Profiled	Giant Bicycle Inc. Yamaha Corporation Derby Cycle AG M1-Sporttechink Helkama Velox Pedego Electric Bikes Magnum Bikes USA Panther International GmbH Visiobike BH Bikes
Pricing	Available upon Request

Key Segments Covered

• Battery Type

  • Nickel-Cadmium Battery Powered Pedelec
  • Lithium-Ion Battery Powered Pedelec
  • Sealed Lead Acid Battery Powered Pedelec
  • Nickel Metal Hydride Battery Powered Pedelec

• Product Type

  • e-MTB Pedelec
  • Race Pedelec
  • Cross Pedelec
  • Urban Pedelec
  • Foldable Pedelec

• Motor Topology

  • Center Motor Pedelec
  • Rear Motor Pedelec
  • Front Motor Pedelec