World News: 12:43 GMT Friday 10th August 2018. [Technavio Research via Businesswire via SPi World News]
Technavio analysts forecast the global E-bike market to grow at a CAGR of nearly 6% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global e-bike market from 2018-2022. (Graphic: Business Wire)
Integration of e-bikes with smartphones is one of the major trends being witnessed in the global E-bike market 2018-2022. The demand for cycle connectivity and telematics is increasing steadily and improving the overall riding experience of the cyclists. With an increase in riders’ interaction with personal mobile devices, their demand for better user interfaces in e-bikes is also increasing. The need for connectivity to access enhanced entertainment and information systems while on-the-go is also accelerating the demand for connected e-bikes.
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According to Technavio analysts, one of the key factors contributing to the growth of the global E-bike market is the increased concerns regarding health and environment among consumers:
Global E-bike market: Increased concerns regarding health and environment among consumers
Vehicle emissions are a root cause of various health and environmental concerns. Carbon dioxide emission from vehicles in the primary cause of global warming, which is the world’s greatest environment concern. Several governments globally have imposed regulations to reduce emissions from vehicles and many consumers are switching to electric such as e-bikes that are pollution-free and keep the environment clean.
According to a senior analyst at Technavio for research on automotive manufacturing, “Apart from being environment-friendly, e-bikes are also considered a mode of exercising, which enable people to become healthier. E-bikes make cycling easier for more individuals by providing motorized assistance in certain situations, such as riding uphill and can be used in cardiac rehabilitation programs. Exercise-based cardiac rehabilitation programs can significantly reduce the chance of cardiac disease-related deaths in people.”
Global E-bike market: Segmentation analysis
The global E-bike market research report provides market segmentation by product (conventional e-bikes and AWD e-bikes) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The conventional e-bikes segment held the largest market share in 2017, accounting for nearly 97% of the market. This product segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 89%. The region is expected to dominate the market through 2022, however, there will be a decrease in its market share by nearly 4%.
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Some of the key topics covered in the report include:
Five Forces Analysis
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Business Wire: 12:43 GMT Friday 10th August 2018
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