Rapidly growing technological advancements, particularly in emerging nations, and the growing prominence on energy conservation has led to significant advancements in the global E-bike accessories market. Furthermore, accessories such as throttles, torque arm, battery kit, display, cable, controller and other enhance the mobility and accessibility of E-bikes as well these accessories increase the efficiency of E-bike so, these accessories provide better traction in the global E-bike accessories market in the globe.
In addition, increasing urbanization and people’s growing desire to shift from cars to motorized transportation are some of the factors creating more opportunities is indirectly increasing the global E-bike accessories market in the Forecast period. E-bike’s manufacturer are aiming of health & the environment issue that factor is propelling the global E-bike accessories market.
Furthermore, E-bikes have less emission of greenhouse gases, such as co2, that increasing the demand of E-bike accessories in the near future. In china e-bikes uses lead acid batteries while in Europe, it is expected that half of E-bike is using nickel metal hydride batteries and remaining use lithium batteries. In Asia-Pacific region China is dominating in the global E-bike accessories market owing to high rate of selling of E-bikes.
Furthermore, in North America region U.S. is initiating the adoption E-bike sharing system, that system may accelerate the global E-bike accessories market in the forecast period. On other hand, Achieving increased flexibility, reduced weight, high safety and low maintenance cost will remain the prime focus of key manufacturers operating in the global E-bike accessories market during the forecast period. It is anticipated that the, E-bike accessories market will witness high growth rate and CAGR during the forecast period.
The fabrication of new units as well as repair and replacement of existing vehicles is primarily expected to drive the E-Bike accessories market.Technological innovation remains one of the prominent market forces expected to drive the global E-bike accessories market. The use of lithium ion (Li-ion) batteries in e-bikes is a new trend being witnessed in the market. These batteries reduce the overall weight of the vehicle by a significant amount and are quite affordable as well. Furthermore, battery management consists of parallel cells, which allow vehicles to propel with higher speeds. Thus, the use of lithium ion batteries is expected to propel the market even further.
Fluctuating raw material price and lack of awareness of E-bike accessories may hinder the market in the forecast period. Moreover, it is anticipated that presence conventional bicycle may decline the market.Manufacturers are significantly focusing on Grin technology for increasing the accuracy of E-bike display by utilizing controller signal with throttle output signal. Furthermore, the manufacturer are installing advance sensors such as Quadrature PAS Sensor with split magnetic ring for enhancing the signal transmitting quality.
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Asia-Pacific is expected to be the dominant market in terms of revenue & volumes and the increasing demand for energy efficient bicycle driven is expected to gain popularity over the next decade in countries such as China, South Korea and India. China has the highest growth rate of the global E-bike accessories market owing to explosive sales of E-Bike. Furthermore, Western Europe grows the market with sluggish growth rate across the world. North American E-bike accessories market was comparatively sluggish in 2015, mainly due to lower selling gasoline prices. Moreover, various lower-priced models of E-bikes were outdated as brands in the market transition toward higher-quality products.