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Lithium-Ion Battery Powered Pedelec Industry is Projected to Achieve a Global Market Size of US$ 28 Bn by 2031, Fact.MR

Foldable pedelecs expected to surge at a CAGR of 7% across the forecast period

UNITED STATES, March 16, 2022 /EINPresswire.com/ -- Fact.MR’s report predicts the global sales for Lithium-Ion Battery Powered pedelecs to exceed US$ 55 Bn by registering a positive a CAGR of 7% for the forecast period 2021-2031. Consumers are becoming extremely conscious about the environment and their physical fitness is auguring well for pedelec market players. This, in turn, has spurred the demand for pedelecs.

Historically, between 2016 and 2020, sales of Lithium-Ion Battery Powered pedelecs surpassed US$ 26 Bn in 2019, experiencing a CAGR of over 3% across the aforementioned period. While initial projections during 2020 appeared glum, amid production crunches experienced during the height of COVID-19. Eventually, however, this translated into an opportunity as consumers began working on their fitness regimes, impelling sales of electric bikes and pedelecs.

Technological advancements in batteries and fuel cells are bringing in new varieties and improved efficiencies of electric motors used in pedelecs, thereby, enabling pedelec market players to launch more energy-efficient models. In addition, pedelecs are space and cost effective. These factors have increased the popularity of pedelecs amongst consumers.

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How are Technological Advancements Defining the Future for Pedelecs?
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 are shifting their focus on research & development of advanced solutions to eliminate drawbacks of pedelecs associated with an 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.

Key Segments Covered
Battery Type
• Nickel-Cadmium Battery Powered Pedelec
• Lithium-Ion Battery Powered Pedelec
• Sealed Lead Acid Battery Powered Pedelec
• Nickel Metal Hydride Battery Powered Pedelec

Product Type
• e-MTB Pedelec
• Race Pedelec
• Cross Pedelec
• Urban Pedelec
• Foldable Pedelec

Motor Topology
• Center Motor Pedelec
• Rear Motor Pedelec
• Front Motor Pedelec

To learn more about Pedelec Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=2068

Competitive Landscape
Prominent players in the pedelec industry include 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 among others.

• In July 2018, Yamaha Corporation launched the new Civante Class 3 electric power assist bicycles which derives its power from the company’s PWSeries SE motor, which delivers a seamless e-bike assist experience
• In September 2021, Giant Bicycles Inc. reported that its Defy Advanced Pro, comprising of a lightweight composite frameset engineered for smooth-riding compliance, cleared the Cycling Plus/BikeRadar endurance road bike test, earning the moniker of the ideal top-class endurance bike
• Shimano, Inc., a cycling component manufacturer, announced that in the second half of the year 2018, it will introduce innovative products to expand the range of Shimano STEPS pedelec systems, mainly focusing on its top model of e-bikes – E800.

Key Companies Profiled
• Giant Bicycle Inc.
• Yamaha Corporation
• Derby Cycle AG
• M1-Sporttechink
• Helkama Velox
• Pedego Electric Bikes
• Magnum Bikes USA
• Panther International GmbH
• Visiobike
• BH Bikes

Why is Lithium-Ion Battery Gaining Popularity?
Lithium-ion batteries are environmentally friendly. Thus, its adoption is taking place on a large scale. Moreover, they have a longer life cycle. This, in turn, reduces the expense of buying new batteries or replacing the old ones. Also, manufacturers of lithium-ion batteries are focusing on reducing the price of the batteries.

Thus, the factors mentioned above are playing a crucial part for the popularity of lithium-ion batteries that are expected to hold more than 50% market share in the market for pedelecs.

What are the Growth Prospects for Foldable Pedelecs?
Foldable pedelecs are gaining rapid traction among biking enthusiasts, especially due to its ease of portability and mobility. As per Fact.MR’s data, foldable pedelecs sales are anticipated to rise at a CAGR of 7% from 2021 to 2031.

With their small wheels, easy acceleration and sharp manoeuvrability, these bikes offer a convenient alternative to cars, conventional bikes, buses and other means of transport. Furthermore, portable pedelecs occupy less space across commercial and residential buildings.

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