The global e-bike drive unit market is expected to post a CAGR of close to 12% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global e-bike drive unit market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global e-bike drive unit market is the increasing health concerns and demand for eco-friendly transportation among consumers. Globally, people are becoming more aware of health issues such as asthma and respiratory problems caused by vehicle emissions. In addition, vehicles often cause noise pollution which often leads to loss of hearing, high blood pressure, and sleep deprivation. Therefore, with the increase in awareness of environmental and health hazards caused by vehicles, a large number of consumers are switching to electric vehicles such as e-bikes as they are powered using renewable energy sources that keep the environment clean and pollution-free. This will boost the growth of the market during the forecast period.
As per Technavio, the use of shift toward compact crank motors will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global e-bike drive unit market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
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Global e-bike drive unit market: Shift toward compact crank motors
Most e-bikes and pedelecs available in the market are equipped with hub motors. Although the hub motors require low maintenance and they do not affect the elementary design of the bike, they make the wheels heavy and the sealed nature of these motors increases the chances of overheating. These limitations of hub motors are shifting the focus of manufacturers toward designing and developing lightweight and compact motors known as crank motors. The crank motor is attached to the rotating rod of the pedal assembly to gain balance in weight and ensure smooth functioning of the gears. Crank motors are especially useful while climbing steep hills and riding at high speed on flat roads.
“Various countries are passing laws that encourage the adoption of green technologies such as e-bikes. For instance, China has implemented laws to support e-bike manufacturers and users, as e-bike helps reduce the emission of carbon dioxide and other greenhouse gases. This will support the growth of the global e-bike drive unit market during the forecast period,” says a senior analyst at Technavio for research on automobiles & components.
Global e-bike drive unit market: Segmentation analysis
This market research report segments the global e-bike drive unit market by motor type (mid-drive motor, and hub motor), and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. Although the EMEA region held a market share of less than APAC in 2018, it is expected to register the highest incremental growth during the forecast period.
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