Lucintel forecasts that cargo e-bikes will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing use in time-critical deliveries, such as parcels, mail and smaller shipments in the industries of food, building, and logistics. #ElectricBicycleMarket, #BicycleMarket, #ElectricBicycle

1. Electric Bicycle Market Report 2019-2024: Trends,
Forecast and Competitive Analysis
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2. Industry Profiles Snapshot
Major Parameter Description
Market Segments by Bicycle
Type
Cargo, fat tire, mountain, standard, and others
Market Segments by
Propulsion Type
Pedal assisted electric bicycle and throttle on demand electric bicycle
Market Segments by Usage
Type
Traveling, social, exercise, and others
Market Segments by Motor
Type
Hub motor, mid drive, and others
Market Segments by Battery
Type
Lead acid, lithium acid, nickel metal hydride, nickel cadmium, and others
Market Segments by Region North America, Europe, Asia Pacific and Rest of the World.
Top Companies Name
Giant Manufacturing, Accell, Merida Industry, Pedego Electric Bikes, Ideal
Bike, Leder 96, Cannondale, BH Bikes, Zhonglu, and Prodeco Tech.
Trend Growth Rate and CAGR 12.5%
Key Industry Forecast
The global electric bicycle market is expected to reach an estimated $21
billion by 2024 with a CAGR of 12.5% from 2019 to 2024.
Key Industry Driver
Driver: Increasing health conscious consumers, high traffic congestion,
environmental concerns, and increasing government initiatives to promote
cycling in order to reduce carbon emissions.
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3. Industry Overview
Market Size
• The global electric bicycle market is
expected to reach an estimated $21 billion
by 2024 with a CAGR of 12.5% from 2019 to
2024.
• Emerging trends, which have a direct impact
on the dynamics of the market, include
development of luxury folding e-bikes and high
tech electric bike with smartphone integration.
Market Size (2024) $21 billion
CAGR (2019-24) 12.5%
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Industry Performance : Forecast