E-Bike Motor Market To Grow To Multi Billion Business
NEW YORK, USA – Market researcher Persistence studied the global market for electric bicycle motors. Its report is projecting an annual growth rate of over 6% in the period up to 2025 leading to a multi-billion US dollar market valuation.
The latest research report published by Persistence Market Research digs deep in all the motor types available for electric bicycles, e-MTB’s, speed pedelecs and other e-bike categories nowadays available.
E-bikes as daily means of transport
Furthermore the Persistence report concludes “The increase in fuel costs has led towards the growth in the implementation of electric bicycles as a daily means of transport. With the increase in fuel costs, the requirement for battery-powered bicycles has increased. Bicycles fitted with motors helps in managing the speeds more effectively as well as make them more comfortable to drive in overpasses, mountain areas along with rough roads. A lot of individuals now opt for a cycle to work, particularly with governments manufacturing bicycle-friendly streets. Rising figures of commuters are using battery-controlled bicycles. As a result, the global market for electric bicycle motors is witnessing an expansion.”
The report states that e-bike motor market is projected to account for a market valuation of close to USD 8,500 million (6.9 billion euro) by 2025 end, up from a valuation of about USD 5,200 million (4.2b euro) in 2017 and will be reflecting a 6.3% a compound annual growth rate all through the calculated period of 2017-2025. The 229 paged report costs USD 4,900 (3,960 euro) for a single user license.