Pedelec, an acronym for pedal assisted electric cycle, is an electric motor-supported bicycle. The chargeable battery-supported electric motor is intended to aid in pedalling.
The various advantages of the pedelec are listed below:
Apart from the aforementioned advantages, pedelecs also save energy by using electronic controllers for automatically cutting down the motor's power whenever the rider stops pedalling or breaches the bike's set speed limit. Many governments are launching policies that regulate power limits of pedelecs, and many have capped the limit at 250 watts.
Outlook of the global padelec market
In terms of unit shipments, the global pedelec market was valued at 28 million units in 2014, and Technavio's market research analysts predict it to grow at a CAGR of over 5% during the forecast period. Analysts expect the demand and sales of pedelecs to increase considerably until 2019.
The market is driven by the growing emphasis towards the development of the sustainable environment for the future generation, which in turn is increasing the demand for eco-friendly transportation such as electric bikes and pedelecs.
Additionally, growing health concerns among the consumers, especially professionals and baby boomers propels the growth of this market as it offers health benefits as the driver has to pedal to move forward, however with aid from the electric motor.
Geographical segmentation of the global pedelecs market
The concept of pedelec was introduced in Europe during the early 2000's. The market has witnessed a significant number of technological innovations over the past decade across the globe. Yet, Europe remains the largest market with the highest number of pedelecs in Netherlands, Germany and France.
Consumers in this region are fast adopting this technology as an optimal mode of mobility due to its ease of use and zero emission into the environment. The region is expected to witness a further rise in its demand among bicycle enthusiasts as it is easy to ride on hills and against strong winds.
Leading vendors analyzed in the report
The other prominent vendors of this market include Giant Bicycle Inc., Helkama, Pedego Electric Bikes, and Visiobike.
Key questions answered in the report
What are the key factors driving the global pedelec market?
What are the key market trends impacting the growth of the global pedelec market?
What are the various opportunities and threats faced by the vendors in the global pedelec market?
Trending factors influencing the market shares for EMEA, APAC, and Americas?
Key outcome of the five forces analysis on the global pedelec market?
Growth forecast of the global pedelec market?
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