The global e-bike market produced close to 34 million units in 2016 and is expected to surpass 45 million units by 2021, says Technavio.
Technavio has announced its latest market research report on the global e-bike market, under its automotive manufacturing portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Currie Technologies, Derby Cycle, Jiangsu Xinri, and Zhejiang Luyuan.
According to Siddharth Jaiswal, a lead analyst for automotive manufacturing research at Technavio, “The growing demand for eco-friendly transportation systems is driving the growth of the global e-bike market. The growing scarcity of natural resources and efforts towards the preservation of the environment is driving the demand for these products in the global market. The initiatives undertaken by the government to prevent pollution will increase the adoption of these vehicles during the forecast period.”
E-bikes are eco-friendly, reliable, and recreational modes of transportation as they offer both the fun of cycling and some of the advantages of automobiles. Furthermore, these are noiseless and emission-free, promote health, require minimal space for parking, and have significantly low costs.
Shift toward compact crank motors
The vendors are increasing their focus toward designing and developing a compact, and lightweight motors called crank motors. This motor is attached to the rotating rod of the pedal assembly and offers a balance of weight on the bike. This system is developed to ensure the smooth functioning of the gears are useful for climbing steep hills and for riding at high speed on flat roads. Some of the motors also come with sensors that measure the gears as and when the rider changes the gear, reducing the force required to ensure a smooth change of gear.
Shifting focus toward the usage of lightweight materials such as carbon fibers in e-bike frames
The manufacturers in the market are focusing using lightweight materials like carbon fiber for the production of e-bikes. The properties of design flexibility, strength, and light weight of carbon materials makes it the optimum choice for manufacturing eco-friendly e-bikes. Additionally, carbon fiber frames more crash resistant, giving them an added advantage over steel and aluminum frames.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
Other related reports:
- Global High-performance Electric Motorcycle Market 2016-2020
- Global Sports Bicycle Market 2016-2020
- Children’s Bicycle Market in the US 2016-2020
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