Pedelec Market Analysis By Product Type (e-MTB, Race, Cross, Urban, Foldable), By Battery Type (Nickel-Cadmium, Lithium-Ion, Sealed Lead Acid, Nickel Metal Hydride), By Motor Topology (Center, Rear, Front) & By Region – Global Market Insights 2023 to 2033
Analysis of Pedelec Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Pedelec Market Outlook (2023 to 2033)
The global pedelec market, as reported by Fact.MR, reached a valuation of US$ 30.12 billion in 2022 with worldwide sales of pedelecs registering a CAGR of 7.5% from 2018 to 2022. Over the forecast period (2023 to 2033), demand for pedelecs is projected to rise at a noteworthy CAGR of 7.1% and reach a market valuation of US$ 64.05 billion by 2033-end.
Increasing importance of physical fitness is estimated to stimulate health-conscious consumers to invest in e-bikes and pedelecs around the world. The recently developed pedelecs come with noiseless features that are also fueling opportunities for players. Manufacturers’ increasing focus on making lightweight pedelecs combining electric and manual transportation modes is also projected to open up lucrative opportunities for them in the coming 10 years.
- Sales of pedelecs fitted with lithium-ion batteries are projected to rise at a CAGR of 7.5% and reach US$ 37.72 billion by 2033-end.
- Demand for pedelecs in Germany is forecasted to register 7.8% CAGR and reach a market value of US$ 5.06 billion by 2033.
Increasing cost of fuel over the past decade has led to the rising adoption of bicycles as an efficient mode of daily commuting. Growing fuel prices are an outcome of the surging cost of crude oil that is prominently controlled by OPEC.
Crude oil prices are projected to keep growing because of their limited sources and also due to production cuts by leading companies. Thus, demand for pedelecs is predicted to increase at a noteworthy rate in the coming decade. In addition, many consumers are inclined towards using bicycles due to rising environmental consciousness. The high demand for pedelecs is increasing globally as they help in maintaining good physical health.
Demand for pedelecs is growing due to their ability to reduce air, noise, and air pollution. Many people are becoming aware of the benefits of pedelecs with their ability to toggle from manual to electric propulsion according to requirements. For example, speed pedelecs do not emit any harmful gases and operate silently.
Fact.MR, a provider of market research and competitive intelligence, recently published a research report about the market dynamics of pedelecs. Market growth opportunities, competitiveness, regional analysis, etc. are covered in this report.
Pedelec Market Size (2023)
US$ 32.26 Billion
Projected Market Value (2033)
US$ 64.05 Billion
Global Market Growth Rate (2023 to 2033)
Foldable Pedelec Segment Growth Rate (2023 to 2033)
China Market Value (2033)
US$ 12.68 Billion
Japan Market Growth Rate (2023 to 2033)
United States Market Value (2033)
US$ 15.56 Billion
Key Companies Profiled
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Which are the Factors Driving the Sales of Pedelecs around the World?
“Rising Environmental Concerns about Emissions from Fuel-based Vehicles Driving Shift towards Sustainable Transportation Modes”
Awareness of the adverse impact of emissions from internal combustion engines on the environment is rising. This has prompted a shift from petrol and diesel vehicles to their electric counterparts. Pedelecs do not generate any harmful emissions, unlike internal combustion engines. Pedelecs are a sustainable transportation mode.
Rising environmental concerns have led to wide adoption of electric vehicles.
“Stringent Environmental Safety Regulations Boosting Demand for Pedelecs”
Governing bodies establish regulations and standards to guarantee the safety of pedelecs. Pedelec manufacturers are required to comply with specific legal criteria developed by governing organizations worldwide. This has prompted players in the industry to adapt their prominent business strategies, ultimately driving the sales of pedelecs.
- An example of this can be seen in the publication of the Vehicle Standards Information by the Australian government, which outlines specific rules and regulations about power-assisted pedal cycles and mopeds.
- The Consumer Product Safety Commission in the United States has also established standards and guidelines that govern the manufacturing and sale of electric bikes. These regulations are in place to safeguard consumer well-being and minimize the risks of death or injury associated with the adoption and use of pedelecs.
Which are the Challenges Encountered by Pedelec Manufacturers?
“Lengthy Charging Times and Shortage of Charging Facilities”
The complete charging time for pedelec batteries typically ranges from 3 to 5 hours, which may require consumers to wait before being able to ride to their desired destinations. This aspect is projected to have negative effects on the market growth.
While pedelecs serve as an efficient mode of transportation for shorter distances, they are not ideal for long trips as users would need to stop and locate charging facilities along the way. Certain offices currently do not offer charging facilities, which limits the viability of pedelecs as an option for commuting in such areas.
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What are the Measures Being Taken by New Companies to Enhance Their Profitability?
“Focus of Start-ups on Development of Advanced Pedelecs to Eliminate Drawbacks Due to Imbalance between Speed and Torque”
More people are now adopting pedelecs for their eco-friendly nature and capability to solve urban congestion and meet their fitness requirements, leading start-ups to focus on research and development to address challenges related to speed-torque imbalance. New entrants are striving to develop advanced technological solutions, such as intelligent control systems, enabling automatic or semi-automatic transmission of pedelecs to optimize energy usage, indicating emerging trends in the market.
What Makes the United States a Profitable Market for Pedelec Suppliers?
“Rapid Adoption of Efficient and Powerful Pedelecs as Green Transportation Solutions”
The United States market is anticipated to expand at a CAGR of 7.3% and reach US$ 15.56 billion by 2033-end. Introduction of pedelecs as more efficient and powerful vehicles is predicted to bolster their sales in the United States. It is adopted at a noteworthy rate as a greener and cleaner transportation mode for short distances. Long-term advantages of riding pedelecs include working out while traveling.
How is Demand for Pedelecs Shaping Up in Germany?
“Rising Health and Environmental Consciousness Driving Demand for Pedelecs as Substitute for Traditional Vehicles for Short Distances”
Demand for pedelecs in Germany is forecasted to advance at a 7.8% CAGR and reach a value of US$ 5.06 billion by 2033.
Increasing awareness among various consumers about health and the environment is boosting demand for pedelecs in Germany. They are opted as substitutes for traditional motor vehicles, particularly for short distances. The reduced maintenance cost of pedelecs is also stimulating their adoption. Introduction of space-efficient pedelecs is also driving lucrative opportunities for players in Germany.
What is the Demand Outlook for Pedelecs in South Korea and Japan?
“Increased Battery Production and Favorable Regulatory Framework Pushing Demand for Pedelecs”
Demand for pedelecs in Japan is predicted to rise at a CAGR of 7.5% and reach US$ 5.25 billion by the end of 2033. The South Korean market is projected to advance at a 5.8% CAGR and reach a value of US$ 3.91 billion by 2033-end.
Rising production of various types of batteries and favorable regulatory frameworks in these countries are expected to drive up demand for pedelecs. In addition, increasing R&D activities by prominent pedelec suppliers are also contributing to market growth. An increased inclination towards electric bikes is also contributing to market growth.
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Why Do Foldable Pedelecs Account for Higher Sales Across the Globe?
“Easy Portability of Foldable Pedelecs Huge Plus Point”
Sales of foldable pedelecs are forecasted to advance at a CAGR of 6.9% and reach a valuation of US$ 20.88 billion by 2033. Foldable pedelecs are becoming popular among biking enthusiasts because of their mobility and easy portability.
They are used as a convenient alternative to buses, conventional bikes, cars, and other transportation means. Portable pedelecs require less space across residential and commercial buildings, which is further contributing to increased sales.
How are Pedelecs with Lithium-ion Batteries Contributing to Market Growth?
“Extended Lifespan of Lithium-ion Batteries Leading to Cost Reduction for Pedelec Manufacturers”
Demand for pedelecs with lithium batteries is estimated to rise at a 7.5% CAGR and reach US$ 37.72 billion by 2033-end. These batteries are adopted at a larger scale due to their environmentally friendly nature.
The extended lifespan of lithium-ion batteries decreases the expenses associated with purchasing new batteries or replacing older ones, leading manufacturers to focus on cost reduction, thereby creating favorable prospects for industry players.
Key Market Players
Industry players are making investments in product standards, new developments, supply chain management systems, and quality assurance to enhance their offerings.
Pedelec manufacturers are leveraging new advancements and incorporating cutting-edge technologies into their products, striving to deliver seamless biking experiences with improved riding efficiency and enhanced ergonomics.
- In September 2021, Giant Bicycles announced that their product the Defy Advanced Pro passed the endurance road bike test conducted by BikeRadar/Cycling Plus. The Defy Advanced Pro features a lightweight composite frameset designed to provide a smooth and compliant ride experience.
Key players in the pedelec market include Giant Bicycle Inc., BH Bikes, Yamaha Corporation, Visiobike, Derby Cycle AG, Panther International GmbH, Pedego Electric Bikes, M1-Sporttechink, Magnum Bikes USA, and Helkama Velox.
Segmentation of Pedelec Industry Research
By Product Type :
By Battery Type :
- Sealed Lead Acid
- Nickel Metal Hydride
By Motor Topology :
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global pedelec market stands at US$ 32.26 billion in 2023.
Worldwide demand for pedelecs is predicted to increase at a CAGR of 7.1% from 2023 to 2033.
Sales of pedelecs in the United States are projected to reach US$ 1.56 billion by 2033-end.
Demand for foldable pedelecs is higher and is estimated to rise at 6.9% CAGR from 2023 to 2033.
Sales of pedelecs in Japan are forecasted to reach US$ 5.25 billion by 2033.
The market in China is set to advance at a CAGR of 7.3% from 2023 to 2033.
The market for pedelecs is projected to reach US$ 64.05 billion by 2033-end.