Bicycle Crank Motor: Introduction
- A crank motor is used to rotate the crank which is connected to the crankshaft through interlocking gears. Bicycle crank motor is found in electric bikes (e-bikes) and is available in various power ranges to suit different cycling experiences. A crank motor eases the cycling experience as it puts the power at the pedal.
- The bicycle crank motor market is expected to expand during the forecast period due to growing trend of cycling, adoption of e-bikes, and awareness about pollution. Bicycles are considered an easy mode of transport in busy areas, and the increasing adoption of e-bikes is projected to be a major factor driving the bicycle crank motor market during the forecast period.
Key Drivers and Opportunities of the Global Bicycle Crank Motor Market
- Electronic bikes are widely accepted in many countries around the world as it is an easy mode of transport and saves considerable money spent on fuel. The rising fuel prices coupled with its harmful effects on the environment through production & consumption has led to the growing adoption of e-bikes. Further, investment by governments around the world to build suitable infrastructure for e-bikes will lead to market growth of e-bikes, which in turn is expected to drive the bicycle crank motor market.
- Growing population and urbanization has resulted in frequent traffic congestion, creating a situation of chaos and pollution. Hence, many developed countries have adopted clean energy transportation, which drives the bicycle crank motor market. Covid-19 had a positive impact on the bicycle market, as numerous manufacturers have registered an increase in sales of bicycles during the peak pandemic period.
- Manufacturers are coming up with high performance crank motors to ease the riding experience in hilly regions and are investing in R&D to improve the bikes. Innovation and entering new geographies is likely to create business opportunities during the forecast period. However, the cost of bikes and maintenance of crank motors may act as a restraint to market growth.
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Asia Pacific to Hold Major Share of the Global Bicycle Crank Motor Market
- In terms of geography, the global bicycle crank motor market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific dominates the bicycle crank motor as China and Japan are amongst the highest consumers of e-bikes in the world. The bicycle crank motor market is expected to expand at a rapid pace during the forecast period with many developing nations in the region.
- The market in Asia Pacific is expected to be followed by Europe and North America. Germany, Netherlands, France, Italy, and Austria are the countries dominating the bicycle crank motor market in Europe. Sales of traditional bicycles are decreasing and e-bikes are increasingly popular in Europe, which indicates the market growth for bicycle crank motors during the forecast period.
Key Players Operating in the Global Market
Major players operating in the global bicycle crank motor market include:
- BionX International Corp.
- Brose Fahrzeugteile SE & Co. KG
- Continental AG
- Derby Cycle Holding GmbH
- Panasonic Corp.
- Robert Bosch GmbH
- Shimano Inc.
- Sunstar Suisse SA
- Yamaha Corp.
- ZF Friedrichshafen AG
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Global Bicycle Crank Motor Market: Research Scope
Global Bicycle Crank Motor Market, by Product Type
- Hub Motor
- Crank Drive Motor
Global Bicycle Crank Motor Market, by Power
Global Bicycle Crank Motor Market, by Distribution Channel
Global Bicycle Crank Motor Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.