Global Pedelec Market

Pedelec Market Size, Share, Growth Analysis, By Product(Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle), By Application Type(Cargo/Utility, City/Urban, and Trekking), By Battery Type(Lead Acid, Lithium-ion (Li-ion), and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25J2060 | Region: Global | Published Date: March, 2024
Pages: 223 | Tables: 91 | Figures: 76

Pedelec Market Regional Insights

The European region was dominating the global pedelec market. Europe had established itself as a major hub for electric bicycle production, consumption, and innovation. Factors contributing to Europe's dominance included a strong cycling culture, well-developed cycling infrastructure, and favorable government policies promoting electric mobility. Additionally, European consumers had shown a significant appetite for pedelecs due to their practicality in urban environments and environmental benefits.

However, in terms of the fastest-growing region, Asia Pacific was experiencing remarkable growth in the pedelec market. This growth was driven by the region's vast population, increasing urbanization, and efforts to combat air pollution and traffic congestion in densely populated cities. Furthermore, Asia Pacific has become a manufacturing hub for electric bicycles, making them more accessible and affordable to a broader consumer base.

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Pedelec market size was valued at USD 37.47 billion in 2022 and is poised to grow from USD 43.32 billion in 2023 to USD 138.14 billion by 2031, growing at a CAGR of 15.6% in the forecast period (2024-2031).

The competitive landscape of the pedelec market is characterized by intense rivalry among manufacturers and a growing number of new entrants seeking to capitalize on the rising demand for electric bicycles. 'Giant Bicycle, Inc. (Taiwan)', 'Hero Cycles Ltd (India)', 'Accell Group (Netherlands)', 'Robert Bosch GmbH (Germany)', 'Kalkhoff Werke GmbH (Germany)', 'Pedego Electric Bikes (US)', 'Panasonic Corporation (Japan)', 'Mobility Holdings, Ltd. (Tern) (Taiwan)', 'Trek Bicycle Corporation (US)', 'Shimano Inc. (Japan)', 'Brompton Bicycle Ltd (UK)', 'Cube Bikes (Germany)', 'Yamaha Motor Co., Ltd. (Japan)', 'Specialized Bicycle Components, Inc. (US)', 'M1 Sporttechnik (Germany)', 'Bulls Bikes (Germany)', 'Gazelle (Netherlands)', 'Raleigh Bicycles (US)', 'Stromer (Switzerland)', 'BH Bikes (Spain)'

One major key driver in the pedelec market is the increasing emphasis on sustainable urban mobility. As cities worldwide grapple with issues like traffic congestion, air pollution, and the need to reduce carbon emissions, pedelecs offer an eco-friendly and efficient solution for urban transportation. Governments and city planners are actively promoting the use of electric bicycles, including pedelecs, as they align with sustainability goals and help address urban mobility challenges. This driver is pushing the adoption of pedelecs in urban environments and propelling market growth.

Sustainable Commuting Solutions: A significant trend in the pedelec market is the growing emphasis on sustainable commuting options. As urbanization continues to increase and environmental concerns escalate, more people are turning to pedelecs as a green alternative for short to medium-distance travel. This trend is reinforced by advancements in battery technology, improved infrastructure for cyclists, and government incentives promoting eco-friendly transportation. As a result, pedelecs are becoming an integral part of urban mobility solutions, aligning with the push towards a more sustainable future.

The European region was dominating the pedelec market. Europe had established itself as a major hub for electric bicycle production, consumption, and innovation. Factors contributing to Europe's dominance included a strong cycling culture, well-developed cycling infrastructure, and favorable government policies promoting electric mobility. Additionally, European consumers had shown a significant appetite for pedelecs due to their practicality in urban environments and environmental benefits.

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Global Pedelec Market

Report ID: SQMIG25J2060

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