Global Smart Bicycle Market Size was valued nearly USD 51.1 billion by 2018 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.3% during the forecast period that is 2017-2025. The smart bicycles or e-bikes are equipped with an integrated electric motor, that is associated with the pedals and powerful control systems that makes the propulsion easy. Smart bicycles are designed in a way that they can efficiently move over steep hills and long distances. Smart bicycle uses lighter rechargeable batteries and can travel up to 25 to 32 km/h, as per the government regulations. The growing demand for smart bicycle, due to the economic benefits offered by them is escalating the growth of smart bicycle market.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global smart bicycles market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global smart bicycles market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.    

Market Dynamics

The Smart Bicycle Market is witnessing growth owing to the increasing fuel prices, coupled with governmental support. For instance, in 2018, UK government announced to invest of US$ 2.31 million to aid the cargo e-bikes uptake. Growing concern over air-pollution contributed by vehicles is generating the need for adopting environmental-friendly modes of transportation, which is further escalating the growth of smart bicycle market. The concept of bike sharing is gaining traction in North America and Europe, due to increasing demand for sustainable urban transport. The rise in number of bicycle docks or stations and smart bicycle service terminals are ensuring hassle-free bicycle renting experience for consumers, and hence aiding the growth of smart bicycle market. Presence of significant bike-share operators like CycleHop, Lyft and Uber in the global market are ensuring to make the customers experience easy. The advancement in technology has resulted in the production of smart bicycles equipped with smart bike lock, anti-theft features, and custom sensor features. The custom sensors attached in smart bicycles contains Bluetooth within it, which enables them to connect with tablets, smartphones and GPS bike computers for data transfer.

Furthermore, rising demand for smart bicycles among tourists, and their rising adaptation by health-conscious people to ensure cardio-vascular, mental and muscular fitness are fueling the growth of smart bicycle market. However, high price of smart bicycles and ban on e-bikes in New York (throttled e-bikes are banned in New York) and major Chinese cities such as Shanghai, Shenzhen and others can hinder the growth of global smart bicycle market.

Segment Analysis

By Product Type Insights: The peddle-assist, also known as Pedelecs segment is expected to dominate the market in terms of revenue share due to its higher adaptation by consumers. The easy-to-ride feature of peddle-assisted smart bicycles, coupled with power-assistance and speed adjustment features makes it an ideal choice for consumers. The lesser physical efforts required to ride peddle-assist smart bicycles and ability of Pedelecs to cover long-distances can attribute to its further growth in the forecast period.

By Motor Type Analysis: Among motor type, hub motor segment is expected to dominate the market over the forecast period, due to the lower maintenance required by them. The hub motors are completely sealed and placed in wheel hub, which prevents any change in bicycle design, and also protects the motor from snow, sleet, wind and rain. Furthermore, direct attachment of hub motor and wheel ensures high efficiency of smart bicycles.

By Battery Type Insights: The lead-acid battery segment is expected to continue dominating the smart bicycles battery market due to its recyclable properties and low cost. High power output potential of sealed lead acid (SLA) batteries are another advantage of lead acid batteries which escalate the demand for lead acid batteries over the forecast period. Lithium-ion (Li-ion) batteries are expected to grow significantly over the forecast period, owing to its light-weight and small size, which makes them compatible and also capture less space.

Regional Insight:

North America is expected to grow significantly over the forecast period, owing to rise in adaptation of eco-friendly commute methods, coupled with increased governmental support to smart bicycles. For instance, in March 2018, New York government announced that peddle-assisted e-bikes will become legal to operate in New York City very soon. The arrival of small and mid-sized market players in smart bicycle market of North America can further propel the growth of market in the region. The smart bicycle market in Europe is also expected to grow due to growing tourism industry and increasing number of bike rental service providers in the region. The ease of payment at bike rental stations is encouraging consumers to take up for smart bike renting solutions to meet their daily commuting needs. For instance, in March 2014, Vodafone added Near Field Communication Technology (NFC) to Barcelona’s public bicycle rental service to unlock bicycles from a rental station by using their Vodafone wallet.

Global Smart Bicycle Market Size, Share Analysis By Region 2017

Smart bicycle market in Asia Pacific is expected to grow at a slower pace over the forecast period, owing to increase in ban on smart bicycles or e-bikes in major cities of China that include Changsha, Foshan, Shenzhen, and others. However, increased demand for parking space in China can escalate the use of smart bicycles in the country. Furthermore, rising disposable income of Indian middle-class population can raise the demand for luxury products, which will further fuel the growth of smart bicycles market in the country.

Global Smart Bicycle Market Study Objective

1. To forecast the market size of smart bicycle market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of smart bicycle market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of smart bicycle market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of smart bicycle market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the smart bicycle market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

The major players operating in smart bicycle market include Accell Group, Giant Manufacturing Company Ltd., Mahindra & Mahindra Ltd., Trek Bicycle Corporation, Fuji-ta Bicycle Company Ltd, Bionx International Corporation, Derby Cycle, ProdecoTech LLC., Sondors, Pedego Electric Bikes, Electric Motion Systems, Electric Vehicle Technologies Inc., Polaris Electric Bicycles, Currie Technologies Inc., 21 Wheels, and Stealth Electric Bikes. To strengthen product folios, key market players are focusing on merger and acquisition activities. For instance, in August 2018, Accell Group, a leading bicycle manufacturing company, announced the acquisition of Velosophy B.V. by increasing its stake from 35% to 100%. The acquisition aims at strengthening the market position of Accell Group for e-cargo bikes.

Global Smart Bicycle Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.