PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515405
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515405
Speed Pedelec E-Bike Market size was valued at USD 1,542.2 Million in 2023, expanding at a CAGR of 9.20% from 2024 to 2032.
Speed pedal electric bicycles" are electric bikes designed to provide pedal assistance at faster speeds. These e-bikes offer an eco-friendly and comfortable mode of transportation, combining human pedaling with electric motor support for greater mobility.
Speed Pedelec E-Bike Market- Market Dynamics
Increased Fuel Costs due to Supply Shortages will Propel Market Growth
Increased gasoline costs over the last decade have increased the use of bicycles as a form of daily transportation. The increase in fuel prices is the result of a hike in crude oil costs, which are largely regulated by the Organization of Petroleum Exporting Countries (OPEC). For instance, in September 2021, rising car demand, along with supply bottlenecks, drove crude oil prices to USD 79 per barrel. Furthermore, prices are projected to rise in the future due to restricted crude oil supply.
Speed Pedelec E-Bike Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 9.20% from 2024 to 2032.
Based on Application Type segmentation, the city/urban category is the largest and fastest-growing.
Based on Battery Type segmentation, in 2023, the lead acid industry had the highest market share.
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Speed Pedelec E-Bike Market is segmented on the basis of Application Type, Battery Type, and Region.
The market is divided into three categories based on Application Type: Cargo/Utility, City/Urban, and Trekking. The city/urban category is the largest and fastest-growing. The growing desire for environmentally friendly transportation, combined with government initiatives, has increased the number of city bicycles utilized for daily commutes.
The market is divided into three categories based on Battery Type: Lead Acid Battery, Lithium-ion Battery, and Others. In 2023, the lead acid industry held the largest market share. The majority of e-bikes on the market today rely on lead-acid batteries, which are inexpensive, easy to recycle, and practical. Even though they are less expensive, lithium-ion batteries are increasingly replacing older kinds because to their higher efficiency, range, and durability. Lead acid batteries, unlike lithium-ion batteries, are less durable and have been criticized for being environmentally unfriendly.
Speed Pedelec E-Bike Market- Geographical Insights
Geographically, this market is present in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These zones are further split based on which countries bring business. Asia-Pacific is the region with the most contribution to global revenue. E-bikes are becoming increasingly popular in Asia and the Pacific region as an alternative mode of transportation due to its low electricity requirements, affordability, and environmental friendliness. Furthermore, it is expected that an increase in government programs to encourage environmentally friendly automobiles and bicycles, as well as the construction of relevant infrastructure, will accelerate the development of the electric bike sector.
During the forecast period, Europe is expected to have the fastest CAGR for Speed Pedelec E-Bike are increasingly popular in Europe, with individuals using them for commuting, entertainment, and sports. The European government and environmental authorities are establishing tight emission standards and laws in response to growing environmental concerns, which is increasing demand for electric bikes across the continent.
The Speed Pedelec E-Bike Market has a strong competitive landscape. Several companies, including Bosch, Cannondale Bicycle Corporation, Fritzmeier Systems GmbH & Co. KG (M1 Sporttechnik), Kalkhoff Werke GmbH, and Royal Dutch Gazelle. These firms are dedicated to creating creative designs, advanced electric power systems, and integrated technologies to improve the riding experience and meet the growing demand for electric bicycles. The market is evolving, with a focus on increasing battery efficiency, range, and overall performance. Collaboration between e-bike makers and technology providers is frequent, which promotes competitiveness and advances in speed pedelec e-bikes.
In December 2022, Hero Motors and Yamaha Motor Co. have struck an agreement to establish a 'Global E-Cycle Drive Unit Company' at Hero E-Cycle Valley in Ludhiana. The 100-acre Hero E-Cycle Valley now produces both conventional and electric cycles for Global Cycle OEMs, as well as cycle components like alloy rims, aluminum frames, and handlebars. It will also produce HYM Drive Systems, with a capacity of one million units per year.
GLOBAL SPEED PEDELEC E-BIKE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Bosch
Cannondale Bicycle Corporation
Fritzmeier Systems GmbH & Co. KG (M1 Sporttechnik)
Kalkhoff Werke GmbH
Royal Dutch Gazelle
Specialized Bicycle Components
Tianjin Fuji-Ta Bicycle Co. Ltd.
Trek Bicycle Corporation
VanMoof BV
Yamaha Motor Co., Ltd
Others