LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global pedelec market to grow at a CAGR of close to 8% during 2018-2022. The shift toward compact crank motors is a key trend, which is expected to impact the growth of the market.
Most e-bikes and pedelecs across the world are equipped with hub motors. However, hub motors have two major limitations which are that they make the wheels heavy and the sealed nature of the hub motors increases the chances of overheating. These limitations have led to the development of crank motors which are light-weight and are especially useful when climbing steep hills and riding at high speed on flat roads. Moreover, pedelecs with crank motors are also easier to maintain as these motors are not attached to wheels.
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In this report, Technavio researchers identify the growing demand for eco-friendly transportation as one of the key factors contributing to the growth of the global pedelec market:
Growing demand for eco-friendly transportation
Mobility plays a vital role in present-day society; however, most modes of transportation contribute significantly to environmental damage. Therefore, there is an increasing need to develop eco-friendly means of transportation. Pedelecs are gradually becoming the bicycle of the future as they are eco-friendly and reliable modes of transportation which combine the fun of cycling with some of the advantages of automobiles.
“The electric motors fitted on pedelecs allow the riders to ride with ease on rough terrains. Moreover, pedelecs are noiseless and emission free and they promote health. In addition, these pedelecs required minimum parking space and incur significantly low running and maintenance costs. All these factors will lead to the growing popularity of pedelecs during the forecast period,” says a senior analyst at Technavio for automotive manufacturing research.”
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Global pedelec market - segmentation and analysis
This market research report segments the global pedelec market by product type (conventional pedelec and S-pedelec) and key regions (Americas, APAC, and EMEA).
The conventional pedelec segment accounted for close to 99% of the market in 2017. The market share of this segment is expected to witness a 2% decrease in favor of the S-pedelec segment by 2022.
In 2017, the APAC dominated the global pedelec market with a revenue share of more than 85%, followed by EMEA and the Americas. However, the market share of APAC is expected to witness a significant decline of close to 6% while EMEA is expected to witness a corresponding increase in its market share by 2022.
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