Lithium-Ion Battery Is Expected To Hold 50% of Market Share for Pedelec Industry: Fact.MR Study
According to
Fact.MR's by 2021–2031, the global sales of pedelecs are expected to exceed US$
55 billion, with a positive CAGR of 7%. Consumers' increased environmental
awareness and physical fitness bode well for players in the pedelec market. In
turn, this has increased demand for pedelecs.
Historically,
sales of pedelecs
exceeded US$ 26 billion in 2019, with a CAGR of over 3 percent over the
aforementioned period from 2016 to 2020. Initial predictions for 2020 were
depressing due to production problems encountered at the height of COVID-19.
However, as consumers started to focus on their fitness regimens, this
eventually turned into an opportunity and propelled sales of electric bikes and
pedelecs.
Electric
motors used in pedelecs are becoming more diverse and efficient thanks to
technological developments in fuel cells and batteries. This has allowed
pedelec market players to introduce models that are more energy-efficient.
Additionally, pedelecs save money and space. These elements have increased
pedelecs' appeal to consumers.
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How is the future of pedelecs being defined
by technological advancements?
Customers
are becoming more familiar with pedelecs as they offer a practical solution to
their fitness needs and urban congestion, in addition to having a low carbon
footprint. In order to overcome the drawbacks of pedelecs related to an
imbalance between torque and speed, manufacturers are refocusing their efforts
on research and development of cutting-edge solutions.
Players in
the pedelec market are working to introduce cutting-edge technological
innovations like intelligent control systems, which can be used to implement
automatic or semi-automatic transmission for pedelecs that have the best energy
efficiency. In the coming years, technological advancements like these are
likely to dominate the pedelecs market.
Key Segments Covered
Battery Type
·
Nickel-Cadmium Battery Powered Pedelec
·
Lithium-Ion Battery Powered Pedelec
·
Sealed Lead Acid Battery Powered Pedelec
·
Nickel Metal Hydride Battery Powered Pedelec
Product Type
·
e-MTB Pedelec
·
Race Pedelec
·
Cross Pedelec
·
Urban Pedelec
·
Foldable Pedelec
Motor Topology
·
Center Motor Pedelec
·
Rear Motor Pedelec
·
Front Motor Pedelec
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Competitive Landscape
The launch
of new product lines with the newest mobility technologies is paying off for
manufacturers. By offering comfortable ergonomics and improving riding
efficiency, these innovations seek to provide a seamless biking experience.
·
The Yamaha Corporation introduced the Civante
Class 3 electric power assist bicycles in July 2018. These bikes are powered by
the company's PWSeries SE motor and provide a smooth e-bike assist ride.
·
Giant Bicycles Inc. announced in September 2021
that its Defy Advanced Pro, which features a lightweight composite frameset
designed for smooth-riding compliance, passed the Cycling Plus/BikeRadar
endurance road bike test and was named the ideal top-tier endurance bike.
·
Manufacturer of bicycle parts Shimano, Inc., has
announced that it will expand the range of Shimano STEPS pedelec systems in the
second half of 2018, focusing primarily on its top model of e-bikes, the E800.
Key Companies Profiled
·
Giant Bicycle Inc.
·
Yamaha Corporation
·
Derby Cycle AG
·
M1-Sporttechink
·
Helkama Velox
·
Pedego Electric Bikes
·
Magnum Bikes USA
·
Panther International GmbH
·
Visiobike
·
BH Bikes
Category-wise Insights
Why Are Lithium-Ion Batteries Becoming More
Popular?
Environmentally
friendly lithium-ion batteries are available. This means that it is being
adopted widely. They also have a longer life span. This consequently lowers the
cost of purchasing new batteries or changing out the old ones. Additionally,
lithium-ion battery producers are concentrating on lowering the cost of the
batteries.
As a result,
the aforementioned factors are significantly influencing the popularity of
lithium-ion batteries, which are anticipated to account for more than 50% of the
pedelecs market.
What are the chances of folding pedal bikes
growing?
Because of
their portability and mobility, foldable pedelecs are quickly gaining
popularity among biking enthusiasts. According to Fact.MR's sales of foldable
pedal bikes are projected to grow at a CAGR of 7% between 2021 and 2031.
These bikes
provide a practical alternative to cars, regular bikes, buses, and other modes
of transportation thanks to their small wheels, easy acceleration, and sharp
manoeuvrability. Additionally, portable pedelecs take up less room in both
residential and commercial structures.
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other brands? Purchase a copy of report on Pedelec Market at- https://www.factmr.com/checkout/2068
Important conclusions from the market study
·
Up until 2031, Asia is anticipated to hold a
market share of close to 80% for pedelecs.
·
From 2021 to 2031, Europe will hold a market
share of over 45%.
·
Lithium-ion batteries are anticipated to hold a
50% market share by battery type.
·
Foldable bicycles are anticipated to soar at a
CAGR of 7% over the course of the forecast period.
·
China, Germany, and France are the top three nations
driving the market for pedelecs.
PR Newswire
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