Technavio’s latest market research report on the global bicycle motors market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global bicycle motors market 2017-2021 under their automotive library. (Graphic: Business Wire)
One of the key factors resulting in the growth of the bicycle motors market is the constant technological innovations in electric bicycles. Lightweight, long lasting battery, and throttle are some of the innovations that are driving the market.
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The top three emerging market trends driving the global bicycle motors market according to Technavio research analysts are:
- Inclination toward crank motor in electric bicycles
- DIY kits
- Government initiatives
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Inclination toward crank motor in electric bicycles
Electric bicycles are fitted with crank motors rather than hub motors due to their higher performance capacity and suitability for uphill rides. A crank motor is placed in the middle of the bicycle frame and normally is in the bottom brackets. With the help of the rear wheel gears, this motor drives the bicycle through the chain. As it increases the torque by use of the wheel cassette, it is an efficient system, which allows the bicycle to climb up hills or move on rough roads.
According to Amey Vikram, a lead analyst at Technavio for automotive components “Crank motors are especially designed to be driven at high speeds on flat roads and for climbing steep hills. As no motor is attached to the wheel the crank motor can be easily replaced, thereby making it more convenient for the user.”
DIY kits
There is a wide range of consumer DIY products. DIY electric bicycle kit, which contains instructions on the basics of installing, using, and customizing the kit. As it comes in a dismantled form, the consumer must assemble his/her own electric bicycle or convert a conventional bicycle into an electric bicycle. As it helps in saving expenses, this trend is becoming increasingly popular. Consumers with different budget options can avail different kits, which fulfill his/her needs, as several mid drive kits are available in the market. Companies such as BAFANG and GNGelectric provide such kits.
Government initiatives
To encourage growth, various countries have passed laws regarding electric bicycles. An electric bicycle is a green technology vehicle that helps reduce CO2 and other greenhouse gas emissions. Along with this, it also helps in reducing noise pollution and other types of environmental pollution.
“Even though governments encourage the adoption of electric bicycles of all categories, there is greater emphasis on the adoption of electric bicycles with lead-acid batteries as they are recyclable. Hence, these initiatives are expected to drive the growth of the global bicycle motors market,” says Amey.
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