Electric Bike Market:Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027
There is a lot of focus on research and development activities in the global electric bike market in order to bring improvisation in the product with a view to enhance the electric bike business and ultimately increase the market share. Electric bike manufacturers are involved in the reduction of the overall weight of the electric bikes with a view to enhance the performance, with the help of new techniques and by using alternative raw materials. The pedelec product segment is estimated to be the largest segment by product type and is expected to dominate the global market throughout the period of forecast. The rising health awareness among people is the main reason supporting the growth of the pedelecs segment. Asia Pacific excluding Japan (APEJ) region is expected to hold more than 4/5th of the global market throughout the period of forecast. The differentiating strategy that the manufacturers could apply is expansion of the product portfolio by enhancing the current product line; and expanding the product range with improved specifications with the help of NPD (new product developments). The global electric bike market is expected to grow at a steady growth rate and is poised to register a CAGR of 3.1% during the period of forecast of 2017 to 2027. The global market will reflect a value of more than US$ 27 Bn by the end of 2027. Several opportunities, trends, restraining factors, etc., decide the fate of the market, its growth path and hence the future prospects within the market that could be exploited by the players present in the global electric bike market.