Pedelec Market Size, Share, Growth, and Industry Growth by Type (Urban Pedelec, Touring Pedelec, Mountain Pedelec and Others) By Application (Leisure and Commuting) Regional Forecast By 2031

Pedelec Market Report Overview

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The global pedelec market size is expected to be USD 13.5 billion in 2021 & the market is projected to touch USD 64,052.92 million in 2031, exhibiting a CAGR of 16.1% during the forecast period. Accell, BF Bikes, Trek Bicycle and Riese & Müller are the top companies operating the pedelec market.

The global COVID-19 pandemic has been unprecedented and staggering, with pedelec experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Bicycles with an assistive motor and rechargeable batteries that take part of the strain off the rider's pedaling efforts are referred to as pedelecs. Users of pedelecs are able to ride more frequently and for longer distances without feeling weary. Furthermore, it provides a more affordable option to driving than a car and is useful for individuals with limited mobility. Electric mopeds are now more commonly used as an effective, environmentally beneficial, and practical mode of transportation because to quickly rechargeable batteries, lightweight motors, and technical advancements in bicycle components.

COVID-19 Impact: Increased Consumer Demands to Accelerate the Market

In New York City alone, subway train usage decreased as a result of the pandemic, therefore the city started deploying fleets of electric mopeds as public transportation dwindled. In many locations, pedelecs have replaced non-motorized bikes as their use has grown tremendously. Samantha Herr, Executive Director of the North American Bikeshare Association, claims that the pandemic brought micro-mobility to light as a crucial transportation service, filling in where transit service ceased or gaps existed and assisting vital employees in getting to work.

LATEST TRENDS

"Increasing Health Concerns to Boost the Market"

Customers are becoming more familiar with pedelecs since they offer a practical answer to their fitness demands and urban congestion, in addition to having a low carbon impact. In order to overcome the limitations of pedelecs related to an imbalance between torque and speed, manufacturers are refocusing their efforts on research and development of cutting-edge technologies.

Players in the pedelec industry are working to bring cutting-edge technical innovations including intelligent control systems, which may be used to create automated or semi-automatic transmission for pedelecs that have the best energy efficiency. In the approaching years, technological advancements like these are anticipated to dominate the pedelecs industry.

Pedelec Market Segmentation

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• By Type Analysis

By type, market is segmented into urban pedelec, touring pedelec, mountain pedelec and others. The urban pedelec segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into leisure and commuting. The leisure segment will lead the global share through 2031.

DRIVING FACTORS

"Choice for Environmentally Friendly Transportation to Propel the Market Growth"

Consumers are moving away from petrol/diesel automobiles as a result of rising knowledge of the damaging impact of internal combustion engines in conventional vehicles on the environment. Pedelecs are an environmentally friendly form of transportation since they produce no hazardous emissions and do not contribute to air pollution, in contrast to internal combustion engines in cars. In light of this, one of the key drivers boosting market growth is the importance of pedelecs to the environment.

Health-conscious consumers are more likely to choose pedelecs than electric cars, even though growing environmental consciousness has boosted sales of electric vehicles worldwide. The sale of pedelecs is anticipated to soar worldwide in the upcoming years due to their favorable effects on both physical and environmental health.

"Government Subsidies to Augment the Demands"

In particular for everyday commuting, pedal bikes offer a faster and safer mode of transportation. The use of pedal-powered vehicles is encouraged by governments worldwide. Many governments organize awareness campaigns in partnership with commercial and nonprofit entities to promote pedelecs. Reducing the rate of carbon dioxide emission is the ultimate purpose of these actions. To encourage the selling of pedelecs, the governments of many nations are providing subsidies. The sale of pedelecs would be fueled by supportive actions and government initiatives.

RESTRAINING FACTORS

"High Pricing and Import- Export Laws to Impede the Market"

According to the nation, different laws and rules apply to the production, import, and export of pedelecs. The two nations' political ties influence the international trade policy in a similar manner. Market growth and sales of pedelecs are hindered in many nations due to the effects of international trade rules and restrictions.

The pricing is a key consideration when purchasing a pedelec. The price of a traditional bicycle is around one-fourth that of a pedelec. Due to their greater technological sophistication and focus on technology, Europe and North America command higher pedelec prices. A possible buyer hurdle is the pedelec's price sensitivity in the Asia-Oceania area. The cost of pedelecs is mostly driven by the motor and batteries. The price of pedelecs has gone up due to the adoption of cutting-edge lithium-ion batteries. Therefore, it is difficult for producers to lower the price of pedelecs without sacrificing the quality of their construction.

Pedelec Market Regional Insights

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"Asia Pacific to Hold the Largest Global Pedelecs Market Share"

China accounted for the majority of the market share for pedelecs, which was driven by the Asia Pacific region. The market dominance in this region is attributed to a number of factors, including the extensive bicycle infrastructure in developed and developing nations alike, including China and Japan, the high levels of traffic and public transportation congestion, and the increasingly strict emission regulations for gasoline motorcycles.

The market is predicted to increase significantly throughout Europe. There are significant small and medium-sized businesses (SMEs) that employ a sizable number of people directly and indirectly and spend billions of euros on research and development.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP PEDELEC COMPANIES

• BBF Bike (Japan)
• Accell (Netherlands)
• Derby Cycle (Germany)
• Giant Bicycle (China)
• Merida (China)
• Trek Bicycle (U.S.)
• BMC Group (U.S.)
• Specialized (U.S.)
• Riese & Müller (Germany)
• Stevens (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.