Global Pedelec Market

Global Pedelec Market Size, Share, Growth Analysis, By Product(Pedelecs, Speed Pedelecs), By Application Type(Cargo/Utility, City/Urban), By Battery Type(Lead Acid, Lithium-ion (Li-ion)) - Industry Forecast 2023-2030


Report ID: SQMIG25J2060 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 91 | Figures: 76

Global Pedelec Market Insights

Pedelec Market size was valued at USD 32.47 billion in 2021 and is poised to grow from USD 37.47 billion in 2022 to USD 119.72 billion by 2030, growing at a CAGR of 15.6% in the forecast period (2023-2030).

The global pedelec market continues to thrive and evolve rapidly. Pedelecs, or pedal-assist electric bicycles, have cemented their position as a preferred sustainable and convenient mode of urban transportation. This growth is attributed to increasing environmental awareness, escalating urban traffic congestion, and the growing preference for healthier commuting alternatives.

Leading bicycle manufacturers and technology companies persist in substantial investments in e-bike innovation, expanding their product ranges to meet the surging demand. Governments worldwide maintain their support for this trend through incentives and infrastructure enhancements. Thanks to ongoing advancements in battery technology and design, the global pedelec market remains poised for sustained expansion. This sector remains highly dynamic, attracting the attention of industry stakeholders and investors alike. For the most up-to-date insights, it's advisable to refer to current market reports.

US Pedelec Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 32.47 billion

Largest Segment

City/Urban

Fastest Growth

City/Urban

Growth Rate

15.6% CAGR

Global Pedelec Market ($ Bn)
Country Share for EUROPE Region (%)
Global Pedelec market by Application ($ Bn)
Global Pedelec market by Application (%)

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Global Pedelec Market Segmental Analysis

The global Pedelec market is segmented into Product, Application type, Battery type and region. Based on Product the market is segmented as, Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle. Based on application type, the market is bifurcated as, Cargo/Utility, City/Urban, Trekking. On the basis of Battery type the market is segmented as, Lead Acid, Lithium-ion (Li-ion), and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Pedelec Market Analysis by Product

Pedelecs holds the dominant position among the rest. Pedelecs, or pedal-assist electric bicycles, have established themselves as the most widely adopted choice among consumers. This is primarily due to their versatility, as they offer a balanced combination of pedal assistance and rider effort. Pedelecs provide a seamless and natural cycling experience, making them highly appealing to a broad range of riders, from commuters to recreational cyclists. Their widespread popularity can also be attributed to their compliance with regulations in many regions, classifying them as bicycles rather than motor vehicles, which often simplifies usage and regulatory matters.

However, Speed Pedelecs are currently experiencing the fastest growth. Speed Pedelecs are electric bicycles that provide higher levels of assistance, allowing them to reach speeds of up to 28 mph (45 km/h) or more. This segment is witnessing remarkable growth due to several factors. Firstly, Speed Pedelecs cater to commuters who need to cover longer distances quickly, making them a compelling option for urban professionals. Secondly, they offer a more accessible and sustainable alternative to conventional gas-powered scooters and motorcycles, which aligns with the global trend toward eco-friendly transportation.

Pedelec Market Analysis by Application

Among all, the City/Urban application type stands out as the dominating segment. This is largely due to the increasing popularity of electric bicycles for daily commuting and short-distance urban travel. City/Urban pedelecs offer a practical and eco-friendly solution to navigate congested city streets, reduce commuting times, and minimize the environmental impact of transportation. The convenience of pedal-assist technology makes urban cycling more accessible to a broader range of individuals, including those who might have been deterred by longer distances or hilly terrain.

Moreover, the Cargo/Utility segment stands out as one of the fastest growing. This is due to the increasing recognition of pedelecs as a practical solution for efficient and eco-friendly cargo transportation in various industries. Businesses are embracing pedelecs for their ability to navigate congested urban areas while transporting goods, contributing to reduced traffic and emissions. Moreover, the Cargo/Utility pedelecs are being employed in sectors such as food delivery, postal services, and last-mile logistics, capitalizing on their agility and sustainability.

Global Pedelec market by Application type, 2021 (%)

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Global Pedelec Market Regional Insights

The European region was dominating the global pedelec market. Europe had established itself as a major hub for electric bicycle production, consumption, and innovation. Factors contributing to Europe's dominance included a strong cycling culture, well-developed cycling infrastructure, and favorable government policies promoting electric mobility. Additionally, European consumers had shown a significant appetite for pedelecs due to their practicality in urban environments and environmental benefits.

However, in terms of the fastest-growing region, Asia Pacific was experiencing remarkable growth in the pedelec market. This growth was driven by the region's vast population, increasing urbanization, and efforts to combat air pollution and traffic congestion in densely populated cities. Furthermore, Asia Pacific has become a manufacturing hub for electric bicycles, making them more accessible and affordable to a broader consumer base.

Global Pedelec market by Geography, 2023-2030
  • Largest
  • Fastest

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Global Pedelec Market Dynamics

Pedelec Market Drivers

Sustainable Urban Mobility

  • One major key driver in the global pedelec market is the increasing emphasis on sustainable urban mobility. As cities worldwide grapple with issues like traffic congestion, air pollution, and the need to reduce carbon emissions, pedelecs offer an eco-friendly and efficient solution for urban transportation. Governments and city planners are actively promoting the use of electric bicycles, including pedelecs, as they align with sustainability goals and help address urban mobility challenges. This driver is pushing the adoption of pedelecs in urban environments and propelling market growth.

Pedelec Market Restraints

Regulatory Barriers

  • One major key restraint in the global pedelec market is the complex and varying regulations regarding electric bicycles in different regions and countries. Inconsistent laws and standards can create challenges for manufacturers, distributors, and consumers, hindering market growth. Harmonizing regulations and ensuring clarity in terms of classification, speed limits, and safety requirements is essential to foster the widespread adoption of pedelecs.

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Global Pedelec Market Competitive Landscape

The competitive landscape of the global pedelec market is characterized by intense rivalry among manufacturers and a growing number of new entrants seeking to capitalize on the rising demand for electric bicycles.

Major players in the industry continuously strive to innovate and improve their pedelec offerings, focusing on factors such as battery technology, design, and connectivity features. Partnerships and collaborations with technology companies are becoming increasingly common as manufacturers aim to integrate smart features into their products.

Additionally, governments' support for sustainable transportation solutions and investments in cycling infrastructure are influencing market dynamics. This dynamic landscape encourages companies to differentiate themselves through branding, quality, and customer service, as they vie for a larger share of this rapidly expanding market.

Pedelec Market Top Player’s Company Profiles

  • Giant Bicycle, Inc. (Taiwan)
  • Hero Cycles Ltd (India)
  • Accell Group (Netherlands)
  • Robert Bosch GmbH (Germany)
  • Kalkhoff Werke GmbH (Germany)
  • Pedego Electric Bikes (US)
  • Panasonic Corporation (Japan)
  • Mobility Holdings, Ltd. (Tern) (Taiwan)
  • Trek Bicycle Corporation (US)
  • Shimano Inc. (Japan)
  • Brompton Bicycle Ltd (UK)
  • Cube Bikes (Germany)
  • Yamaha Motor Co., Ltd. (Japan)
  • Specialized Bicycle Components, Inc. (US)
  • M1 Sporttechnik (Germany)
  • Bulls Bikes (Germany)
  • Gazelle (Netherlands)
  • Raleigh Bicycles (US)
  • Stromer (Switzerland)
  • BH Bikes (Spain)

Pedelec Market Recent Developments

  • December 2022, as part of its 2023 national dealership promotion plan, Yadea has joined with New U.S. Partner Recruitment Drive for its Ebike Products. Yadea's Ebike is looking for local agents and distributors in the US as part of its plans for global expansion.
  • December 2022, The Cyclery in Dubai was opened by the Emsons Group, a family-owned business. their vast industry knowledge and local experience allowing Cannondale to extend its reach across the UAE.
  • November 2022, Cannondale, and Stella McCartney introduced the new Stella Shared 3x Cannondale customs bike collection.
  • October 2022: Hero Lectro, the e-cycle division of Hero Cycles Ltd., introduced two new e-cycle models, the H3 and H5, in India. The new e-cycles provide first-in-segment features for the Indian market, including a smart LED display and a high torque 250W BLDC rear hub motor. It can achieve a max speed of 25 km/h. Additionally, an IP67 Li-ion 5.8Ah in tube battery can provide a full charge in 4 hours with a range of up to 30 km on a single charge.
  • August 2022: Pon Holdings and Porsche announced a joint venture for an e-bike. Porsche eBike Performance GmbH, based near Munich, will develop whole e-bike systems comprising motors, batteries, and software for connectivity. Stuttgart-based P2 eBike will then use these systems to launch a new generation of Porsche eBikes. However, the company also envisions selling third-party bikes.

Global Pedelec Key Market Trends

  • Sustainable Commuting Solutions: A significant trend in the global pedelec market is the growing emphasis on sustainable commuting options. As urbanization continues to increase and environmental concerns escalate, more people are turning to pedelecs as a green alternative for short to medium-distance travel. This trend is reinforced by advancements in battery technology, improved infrastructure for cyclists, and government incentives promoting eco-friendly transportation. As a result, pedelecs are becoming an integral part of urban mobility solutions, aligning with the global push towards a more sustainable future.

Global Pedelec Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to global pedelec market market analysis, the global pedelec market is undergoing a transformative shift as it adapts to changing consumer preferences and evolving urban transportation needs. One significant factor driving this transformation is the increasing emphasis on sustainability and eco-conscious commuting solutions.

Pedelecs, with their pedal-assist electric technology, offer a compelling alternative to traditional vehicles, especially in densely populated urban areas where traffic congestion and pollution are growing concerns. As cities worldwide invest in cycling infrastructure and governments introduce incentives to promote electric mobility, the pedelec market is poised for substantial growth.

Moreover, technological advancements, including improvements in battery efficiency and smart connectivity features, are enhancing the overall riding experience, further fueling adoption.

Additionally, collaborations and partnerships between bicycle manufacturers and tech companies are fostering innovation in this sector. This evolving landscape positions pedelecs as an integral component of the future of urban transportation, offering a greener and healthier way for people to navigate their daily lives.

However, regulatory challenges and the need for standardized classifications and safety measures remain as areas of focus as the market continues to evolve.

Report Metric Details
Market size value in 2021 USD 32.47 billion
Market size value in 2030 USD 119.72 billion
Growth Rate 15.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle
  • Application Type
    • Cargo/Utility, City/Urban, and Trekking
  • Battery Type
    • Lead Acid, Lithium-ion (Li-ion), and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Giant Bicycle, Inc. (Taiwan)
  • Hero Cycles Ltd (India)
  • Accell Group (Netherlands)
  • Robert Bosch GmbH (Germany)
  • Kalkhoff Werke GmbH (Germany)
  • Pedego Electric Bikes (US)
  • Panasonic Corporation (Japan)
  • Mobility Holdings, Ltd. (Tern) (Taiwan)
  • Trek Bicycle Corporation (US)
  • Shimano Inc. (Japan)
  • Brompton Bicycle Ltd (UK)
  • Cube Bikes (Germany)
  • Yamaha Motor Co., Ltd. (Japan)
  • Specialized Bicycle Components, Inc. (US)
  • M1 Sporttechnik (Germany)
  • Bulls Bikes (Germany)
  • Gazelle (Netherlands)
  • Raleigh Bicycles (US)
  • Stromer (Switzerland)
  • BH Bikes (Spain)
Customization scope

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  • Segments by type, application, etc
  • Company profile
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Pedelec Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Pedelec Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Pedelec Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pedelec Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pedelec Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Pedelec Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Pedelec Market size was valued at USD 32.47 billion in 2021 and is poised to grow from USD 37.47 billion in 2022 to USD 119.72 billion by 2030, growing at a CAGR of 15.6% in the forecast period (2023-2030).

The competitive landscape of the global pedelec market is characterized by intense rivalry among manufacturers and a growing number of new entrants seeking to capitalize on the rising demand for electric bicycles. 'Giant Bicycle, Inc. (Taiwan)', 'Hero Cycles Ltd (India)', 'Accell Group (Netherlands)', 'Robert Bosch GmbH (Germany)', 'Kalkhoff Werke GmbH (Germany)', 'Pedego Electric Bikes (US)', 'Panasonic Corporation (Japan)', 'Mobility Holdings, Ltd. (Tern) (Taiwan)', 'Trek Bicycle Corporation (US)', 'Shimano Inc. (Japan)', 'Brompton Bicycle Ltd (UK)', 'Cube Bikes (Germany)', 'Yamaha Motor Co., Ltd. (Japan)', 'Specialized Bicycle Components, Inc. (US)', 'M1 Sporttechnik (Germany)', 'Bulls Bikes (Germany)', 'Gazelle (Netherlands)', 'Raleigh Bicycles (US)', 'Stromer (Switzerland)', 'BH Bikes (Spain)'

One major key driver in the global pedelec market is the increasing emphasis on sustainable urban mobility. As cities worldwide grapple with issues like traffic congestion, air pollution, and the need to reduce carbon emissions, pedelecs offer an eco-friendly and efficient solution for urban transportation. Governments and city planners are actively promoting the use of electric bicycles, including pedelecs, as they align with sustainability goals and help address urban mobility challenges. This driver is pushing the adoption of pedelecs in urban environments and propelling market growth.

Sustainable Commuting Solutions: A significant trend in the global pedelec market is the growing emphasis on sustainable commuting options. As urbanization continues to increase and environmental concerns escalate, more people are turning to pedelecs as a green alternative for short to medium-distance travel. This trend is reinforced by advancements in battery technology, improved infrastructure for cyclists, and government incentives promoting eco-friendly transportation. As a result, pedelecs are becoming an integral part of urban mobility solutions, aligning with the global push towards a more sustainable future.

The European region was dominating the global pedelec market. Europe had established itself as a major hub for electric bicycle production, consumption, and innovation. Factors contributing to Europe's dominance included a strong cycling culture, well-developed cycling infrastructure, and favorable government policies promoting electric mobility. Additionally, European consumers had shown a significant appetite for pedelecs due to their practicality in urban environments and environmental benefits.

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Global Pedelec Market

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