New Research: Lucintel Predicts a Bright Future for the Electric Bicycle Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Electric Bicycle Industry”?

This market report for electric bicycle identifies and predicts future opportunities for growth in electric bicycle industry for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for electric bicycle in the travelling, exercise/fitness, and recreational activities.

According to Lucintel’s market report, the electric bicycle market is expected to reach an estimated $21 billion by 2024 with a CAGR of 12.5% from 2019 to 2024. Some of the dominant players in the electric bicycle market are Giant Manufacturing, Accell, Merida Industry, Pedego Electric Bikes, Ideal Bike, Leder 96, Cannondale, BH Bikes, Zhonglu, and Prodeco Tech.

There are some interesting developments in electric bicycle market as competition heats up and players try to increase their market share. Some of the emerging trends shaping the market dynamics include development of luxury folding e-bikes and high tech electric bike with smartphone integration.

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