Bicycle Motors Market Size to Grow by 15805.67 th units through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the bicycle motors market and it is expected to grow by 15805.67 th units, accelerating at a CAGR of almost 7.22% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Bicycle Motors Market: Emerging Trends to Impact Market Growth
An inclination towards incorporating a crank motor in electric bicycles is one of the key bicycle motors market trends. Crank motors facilitate better performance and are suitable for uphill rides.. The crank motor is situated in the middle of the bicycle frame and it acts as an efficient system by increasing the torque. Moreover, the crank motor is convenient as the motor can be exchanged easily as it is not attached to the wheel. This will play a pivotal role in driving the electric bicycle motors market.
APAC was the largest bicycle motors market in recent years and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the increasing adoption of electric bicycles, the rising number of customers, and increasing government initiatives to promote sustainable transportation will significantly drive bicycle motors market growth in this region over the forecast period.
Bicycle Motors Market: Key Market Driver
The increasing congestion and pollution in cities is leading to the adoption of bicycles as they are environment-friendly, healthy, and more efficient as they help avoid traffic congestion caused by motor vehicles. Technavio’s market research report has identified heavy traffic congestion in cities as one of the primary factors that will fuel the growth of the bicycle motors market in the coming years. Several cities are taking initiatives to go car-free and are develop car-free zones. This initiative will make cycling safer, easier, and more popular. Moreover, the bicycle-sharing initiatives are also gaining traction in many cities across the world. Many customers across the world are adopting bicycles for commuting and this factor will drive the market positively in the next five years.
This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Bicycle Motors Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BionX International Corp., Brose Fahrzeugteile SE & Co. KG, Continental AG, Derby Cycle Holding GmbH, Panasonic Corp., Robert Bosch GmbH, Shimano Inc., Sunstar Suisse SA, Yamaha Corp., and ZF Friedrichshafen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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Bicycle Motors Market: Key Highlights of the Report for 2021-2025
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