Looking ahead, the electronics components industry may be hit by a new demand –from electric bicycles and ebikes.
A new report entitled ‘Light Electric Vehicles’ has revealed electric vehicles by land, water and air will form a market worth over 210 billion dollars in ten years from now.
The report identifies that there are segments of the market that are very different in certain respects, yet they increasingly share some technical challenges and vehicle and component suppliers.
Electric bicycles, ebikes and other Light Electric Vehicles (LEVs) constitute an important part of the overall EV business and it is these areas the report concentrates on.
The report identifies negative trends too with cities in China banning or severely restricting LEVs.
However the LEV industry is growing fast, and China is also one of the fastest emerging markets for these applications despite this.
Up until the last couple of years, ebike sales were concentrated in China, Japan, and the EU, however now nearly every nation has bought ebikes from China.
It is expected sales will reach 130 million dollars yearly before 2025, which will make it one of the world’s largest industries.
The report analysed over 70 brands and forecasts 13 market drivers are balanced against many negative factors.
A Light Electric Vehicle (LEV) is a land vehicle propelled by an electric motor that uses an energy storage device such as a battery or fuel cell – it typically has two or three wheels and weights less than 100kg.
Challenger Components has 50 years experience in providing electrical components to a variety of industries. They use a variety of recognised suppliers such as Amphenol and ebmpapst to provide connectors, industrial fans and blowers, and static control solutions to their customers.
Visit: http://www.challengercomponents.com for more information and to discuss your requirements in more detail.