A Pedelec which is also called as low powered pedal electric cycle, is a bicycle where the small electric motor controls the rider's pedaling. An electric controller is included in the Pedelecs to control the speed by cutting power to the motor when the rider is not pedaling or when a certain speed (16 mph) is reached. People living in hilly areas or strong headwinds find Pedelecs to be very useful. They rely on the pedelec rather than using fully motorized transport. Pedelec electric cycle is particularly useful to the elderly people who may no longer have the capacity to perform the strong effort that climbing demands.
Major drivers of the global pedelec market includes advantages, such as energy saving by using electronic controllers for automatically cutting down the motor's power whenever the rider stops pedaling or breaches the bike's set speed limit. There has been increasing demand for eco-friendly transportation such as Pedelec due to growing emphasis towards the development of the sustainable environment for the future generation. Also, increasing health concerns among the consumers, especially baby boomers and working professionals is propelling the growth of this pedelec market share. Pedelec cycles offer health benefits as the driver has to pedal to move forward, taking the aid from the electric motor. As the government is focusing on pollution reduction, and electro mobility, zero emission vehicles are being rapidly promoted through incentives. This will indeed lead to increasing focus on electric bikes and thus, a significant rise in the sales of electric bikes is expected over the forecast period. Market challenge for the pedelec market has been the cost of the vehicle which is comparatively higher than normal cycles.
The global pedelec market can be segmented based on Cycle type, Battery Types, and region. Based on Cycle type, the pedelec market can be bifurcated into MTB, Race, Cross, Urban, Portable. Based on Battery Type, the global pedelec market can be segmented into SLA, Nimh, and SCiB.In terms of distribution channel, the market can be classified into online and offline. The online segment is sub-segmented into company websites, and e-commerce sites.
Based on region, the pedelec market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In North America, a variety of factors contributed, such as the ongoing headwinds for diesel technology and increasing customer interest in EVs. European market is expected to be boosted by the government regulations related to the use of electric vehicles which will help to curb environmental pollution. Also, rise in demand for electric vehicles fuels the market growth. Increasing spending power of consumers has propelled the sales of Pedelec in Asia Pacific.
Also, rapid growth in urbanization across the region has boost for purchasing of Pedelec across the region. All these factors are expected to drive the market in Middle East & Africa. In South America, new steps are being taken by the governments of various countries, to increase the acceptance of electric vehicles, ex: Step for building convenient charging stations, have added to the growth of the electric vehicle market in the region. Electric Vehicles are also free from excise tax, in countries like Argentina. Asia Pacific region is expected to grow at a higher rate and will dominates the global pedelec market, throughout the forecast period
Major players operating in the global pedelec market include Derby Cycle AG (Germany), Yamaha corporation (Japan), BH Bikes (Great Britain), Panther International GmbH (Germany), Giant Bicycle Inc. (U.S.), Helkama Velox (Finland), M1-Sporttechnik (Germany) Pedego Electric Bikes (U.S.), Magnum Bikes USA (U.S.) and Visiobike (Croatia). Leading manufacturers of Pedelec are involved in the manufacturing of cost-effective and lightweight vehicles to improve the overall performance of vehicles.
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