Riding the Waves of Innovation: The Electric Bicycle Revolution

The electric bicycle has an integrated electric motor, pedals, and rechargeable batteries for forwarding propulsion. E-bicycle allow commuters to travel greater distances and at higher speed than conventional bicycles. They are less expensive than electric scooters, motorcycles, and mopeds, and do not require insurance or a license. E-bicycle is an upcoming technology that has already gained traction in various countries, including the U.S., Netherland, China, India, and Japan. 

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The most common types of e-bicycles include commuter-type, e-mountain bicycles (eMTB), e-cargo bicycle, and compact & foldable bicycle. Although pedelec e-bicycle are most commonly used, e-mountain bicycle and e-cargo bicycles have witnessed increasing popularity. For instance, in July 2020, Raleigh Bicycles, the subsidiary of Derby Cycle, launched a new electric cargo bike range called Raleigh E-Cargo in the UK and Ireland. The Raleigh E-Cargo bikes are designed to carry up to 100kg weight and have a range of up to 75km (46 miles) on one single charge.

Factors such as positive government regulations and policies to encourage the use of electric bicycles, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high purchase & maintenance cost of electric bicycles and ban on use of electric bicycles in major cities of China hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology and rise in trend of connected electric bicycles is expected to offer lucrative opportunities for the market growth.

Accell Group N.V., CSE EV GROUP CO LTD, Derby Cycle, Fuji-ta Bicycle Co Ltd, Giant Manufacturing Co. Ltd, Merida Industry Co, Ltd, Royal dutch gazelle, Trek Bicycle Corporation, Yadea Group Holdings Ltd and Yamaha Motor Corporation, USA are some of the leading key players operating in the electric bicycle market