FactMR has actively published a new research study titled "Technological Advancements in Pedelec Systems Define Future of the Pedelec Market by 2027 | Key Players are Giant Bicycle Inc., Yamaha Corporation, Derby Cycle AG, M1-Sporttechink, etc." to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the pedelec market during the period between *forecast period*. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global pedelec market is expected to showcase impressive growth at 5.5% CAGR during the period until 2027.
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The report focuses on recent company developments in the pedelec market by providing critical information about leading market players. The report provides a comprehensive list of pedelec market players such as Giant Bicycle Inc., Yamaha Corporation, Derby Cycle AG, M1-Sporttechink, Helkama Velox, Pedego Electric Bikes, Magnum Bikes USA, Panther International GmbH, Visiobike, and BH Bikes.
Environmental and Physical Benefits of Using Pedelecs Improve Their Sales Potential
With the growing awareness about negative effects of internal combustion engines in conventional vehicles on the environment, consumers are making a shift away from petrol/diesel vehicles. Unlike CI engines in vehicles, pedelecs generate no harmful emissions and do not contribute to air pollution, thereby, providing a sustainable mode of transportation. The environmental relevance of pedelecs is one of the most important factors accelerating growth of the pedelec market.
While increased environmental awareness has provided a fillip to the global sales of electric vehicles, health-conscious consumers are more inclined towards purchasing pedelec. Owing to their positive impacts on the environmental health as well as physical health, the number of pedelecs sold across the world is expected to surge in the coming years.
Along with its minimal carbon footprint, pedelecs are gaining popularity among consumers as they provide a convenient solution to their fitness needs and urban congestion. Manufacturers in the pedelec market are shifting their focus on research & development of advanced solutions to eliminate drawbacks of pedelecs associated with imbalance between torque and speed.
Pedelec market players are aiming to introduce advanced technological solutions, such as intelligent control systems, which can enable the implementation of automatic or semi-automatic transmission for optimized energy utilization in pedelecs. Technological developments like these are likely to become predominant trends in the pedelecs market in upcoming years.
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The pedelec market has been witnessing positive growth since the past few years, however, with the increasing sales of pedelecs across the world, governing bodies have developed some standards and regulations to ensure safety of the bicycles. Governing organizations across the globe have developed some legal criteria that all the pedelecs manufactured and marketed must conform to, which have influenced pedelec market players to modify their salient business strategies.
The U.K government recently made amendment in the Electrically Assisted Pedal Cycles Regulations 1983, which modified the maximum permitted power of the electric motor in pedelecs and weight limits. The European Commission has imposed the Motor Insurance Directive on pedelecs launched in the European markets. The Australian government has published a document on ‘Vehicle standards information’, which covers rules and regulations on mopeds and power-assisted pedal cycles (pedelecs). In addition, in the U.S., the Consumer Product Safety Commission (CPSC) has developed some guidelines and standards to regulate the manufacturing and sales of electric bikes, including pedelecs, to protect the consumer health from risks of injury or death associated with the use of pedelecs.
Stigma about Electric Bikes as a ‘Lazy Option’ to Conventional Cycling may Limit Sales of Pedelecs
Though electric bikes are considered an environmentally friendly option to commute, most consumers are looking at them as a way to indulge in physical activities. However, electric bikes, including pedelecs, are misunderstood as a practice that negates all the health benefits of cycling, which is refraining them from purchasing pedelecs. Low awareness about the availability of pedelecs, which are a combination of a hybrid of human and electrical energy poses critical challenges for stakeholders in the pedelec market. Thereby, pedelec market players are adopting innovative marketing strategies to reach larger consumer bases, which is the most pragmatic solution for this deterrent on sales of pedelecs.
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Technological Advancements in Pedelec Systems Define Future of the Pedelec Market by 2027
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