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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.