Technavio Expects the Market Size of Global Pedelec Market to Reach 37 Million Units by 2019

LONDON--()--The global pedelec market was valued at 28 million units in 2014, in terms of unit shipments, and is expected to reach around 37 million units by 2019, growing at a CAGR of close to 6%.

Technavio covers the market outlook and growth prospects of the pedelec market for 2014-2019, including an insight on the key vendors and bicycle manufacturers. To calculate the market size, Technavio’s market analysts have considered the unit shipments of pedelecs by the original equipment manufacturers (OEMs).

The global pedelec market is segmented into the following three regions:

  • EMEA
  • Americas
  • APAC

EMEA: largest pedelec market

EMEA occupied the largest market share of the global pedelec market and accounted for about 50% share in 2014. This trend is expected to continue during the forecast period.

Pedelecs were introduced in Europe in the early 2000’s, and since then, the market has witnessed a significant number of technological innovations across the globe. Europe remains the largest market for pedelecs with the highest number of pedelecs in the Netherlands, Germany, and France. Pedelecs are popular in Europe because of the large number of bicyclists and fitness enthusiasts, who prefer pedelecs as they are easy to ride on hills and against strong winds.

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The major vendors of the global pedelec market are:

  • BH Bikes
  • Kalkhoff
  • M1-Sporttechnik
  • Panther International
  • Yamaha

BH Bikes, Kalkhoff, M1-Sporttechnik, and Panther International are headquartered in the EMEA region, whereas Yamaha is headquartered in Japan.

Giant Bicycle, Helkama, Pedego Electric Bikes, and Visiobike are the other prominent vendors in this market. Giant Bicycle and Pedego Electric Bikes are US-based companies, whereas Helkama is a Finland-based company and Visiobike is a Croatia-based company.

Americas holds the second largest market share: Greater awareness about health and a sustainable environment.

The Americas is the second largest market for pedelecs. The sportier perception of pedelecs is appealing to American consumers, thus encouraging the use of pedelecs in this region. Many consumers are choosing pedelecs over public transportation or a conventional bicycle due to its ease of use and the convenience.

Technavio’s market analysts expect the demand for and sales of pedelecs to increase considerably also because of the sustained focus on the development of a sustainable environment for the future generation. This means that there will be more demand for eco-friendly transportation like electric bikes and pedelecs. Additionally, the perceived health benefits of pedelecs will attract a more fitness-oriented demographic, especially among professionals and baby boomers.

Definition of the pedelec market:

An e-bike, commonly known as an electric bicycle, has an integrated electric motor aligned to the pedals of the bicycle, which supplies the differential force used for forward movement of the bicycle. Electric bikes use Li-ion chargeable batteries, which have a range of maximum 99.4 miles (160 km) in one single charge. These bicycles are available with battery types 8, 12, or 18 amp hours.

Another type of e-bike, the pedal assist electric bike, also known as pedelec, is a combination of the electric bike and conventional bicycle. The pedelecs are equipped with hub motors, which transmit power and force to the wheel with the help of the driving chain, as and when pressure is applied on the pedal.

Pedelec, an acronym for a pedal-assisted electric cycle, is an electric motor-supported bicycle. The chargeable battery-supported electric motor is intended to aid in pedaling.

The advantages of the pedelec are listed in the exhibit below:

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630-333-9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global pedelec market was valued at 28 million units in 2014, in terms of unit shipments, and is expected to reach around 37 million units by 2019, growing at a CAGR of close to 6%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630-333-9501
UK: +44 208 123 1770
www.technavio.com