Bicycle Crank Motor Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2032)

By Motor Type;

Friction Drive Motors, Hub Motors [Front Hub Motors and Rear Hub Motors] and Mid-Drive Motors [Integrated Mid-Drive and Retrofit Kits]

By Material Type;

Aluminum Alloy [Reinforced Alloy and Standard Alloy], Carbon Fiber [Composite Fiber and Thermoset Fiber] and Steel [Chromoly and Standard Steel]

By Power Output;

250W-500W, Above 500W and Under 250W

By Battery Type;

Lead-Acid Battery, Lithium-Ion Battery [Built-In and Removable] and Nickel-Metal Hydride Battery

By Application;

Commuting, Leisure/Sports, Off-Road Cycling [Downhill, Enduro and Trail] and Racing

By Consumer Type;

Commercial [Delivery Services and Ride-Sharing Services] and Individuals [Adults and Youth]

By Bike Type;

Cargo Bikes, Folding Bikes, Hybrid Bikes, Mountain Bikes and Road Bikes

By Sales Channel;

Bicycle Specialty Stores, Online Retailers and Supermarkets/Hypermarkets

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2022 - 2032)
Report ID: Rn300675614 Published Date: February, 2026 Updated Date: March, 2026

Bicycle Crank Motor Market Overview

Bicycle Crank Motor Market (USD Million)

Bicycle Crank Motor Market was valued at USD 650.06 million in the year 2025. The size of this market is expected to increase to USD 1266.78 million by the year 2032, while growing at a Compounded Annual Growth Rate (CAGR) of 10.0%.


Bicycle Crank Motor Market

*Market size in USD million

CAGR 10.0 %


Study Period2026 - 2032
Base Year2025
CAGR (%)10.0 %
Market Size (2025)USD 650.06 Million
Market Size (2032)USD 1266.78 Million
Market ConcentrationMedium
Report Pages325
650.06
2025
1266.78
2032

Major Players

  • Bosch Robert Bosch Gmb H
  • Brose Antriebstechnik
  • Continental AG
  • Panasonic Corporation
  • Yamaha Motor Co Ltd
  • Shimano INC
  • TDCM Corporation
  • Derby Cycle Holding Gmb H
  • ZF Friedrichshafen AG
  • KerveloSAS
*Competitors List Not Exhaustive

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Bicycle Crank Motor Market

Fragmented - Highly competitive market without dominant players


Bicycle Crank Motor Market is gaining momentum as demand for efficient and high-performance e-bikes continues to rise. Nearly 42% of electric bicycles are now fitted with crank motors, offering superior torque, balanced weight distribution, and a smoother riding experience. Their integration reflects the shift toward advanced mobility solutions driven by innovation and user convenience.

Key Drivers Accelerating Growth
The increasing preference for e-bikes in urban commuting and leisure activities is a major growth catalyst. Close to 48% of city commuters opt for bicycles with crank motors due to their efficient hill-climbing abilities and consistent power delivery. This growing reliance highlights the expanding role of crank motors in reshaping sustainable transportation.

Advancements Strengthening Market Adoption
Integration of smart sensors and AI-based controls has improved crank motor efficiency by almost 45%. These innovations ensure better battery management, adaptive riding assistance, and higher energy utilization, creating a seamless and personalized cycling experience. Such enhancements are driving stronger adoption across both recreational and professional biking.

Sustainability and Eco-Friendly Appeal
About 50% of consumers prefer bicycles equipped with crank motors as part of their eco-conscious choices. Their energy-saving design directly contributes to lower emissions and supports global sustainability goals. This alignment with greener mobility trends is positioning crank motors as a preferred option among environmentally aware riders.

Bicycle Crank Motor Market Key Takeaways

  • The rising popularity of e‑bikes for urban commuting is fueling demand for crank motors as they offer enhanced torque and balanced weight distribution. Advanced motor control technologies and smart integration are becoming key differentiators among manufacturers.

  • Asia‑Pacific is the fastest‑growing region, driven by rapid urbanisation and government support for eco‑mobility. Meanwhile, established markets in North America and Europe continue to innovate with premium solutions and smart connected systems.

  • Integration of smart sensors, AI‑based controls and modular design is improving efficiency and user experience. These innovations allow for adaptive assistance, real‑time diagnostics and personalized cycling support.

  • The trend toward sustainable transportation and eco-conscious consumer behavior means more than 50% of buyers prefer e‑bikes equipped with crank motors. This is fostering growth in both commuter and cargo e‑bike segments worldwide.

  • Despite strong growth, high initial costs, limited consumer awareness and infrastructure challenges—especially in emerging markets—remain constraints on adoption. Manufacturers are responding by offering cost‑effective models and building awareness through partnerships and digital channels.

  • The market is becoming more competitive and partially consolidated, with top players holding over 50% of share and leveraging strong brand, powertrain efficiency and distribution networks. Smaller firms are focusing on niche applications like cargo bikes or retro-fit kits to differentiate.

  • Supply-chain pressures such as tariffs on components, rare-earth material constraints and semiconductor shortages are reshaping sourcing strategies. Companies are increasingly investing in regional manufacturing and modular architectures to mitigate these risks.

Bicycle Crank Motor Market Recent Development

  • In April 2025, Yamaha Motor Co., Ltd. acquired the bicycle drive unit business from Brose Group to strengthen its crank motor systems portfolio.

  • In July 2025, AMflow launched a new high-torque crank motor for electric mountain bikes with advanced lightweight design.

Bicycle Crank Motor Market Segment Analysis

In this report, Bicycle Crank Motor Market has been segmented by Motor Type, Material Type, Power Output, Battery Type, Application, Consumer Type, Bike Type, Sales Channel, and Geography.

Bicycle Crank Motor Market, Segmentation by Motor Type

Motor Type segmentation defines the different motor systems used in bicycle crank motors, impacting efficiency, power delivery, and suitability for different cycling needs. The main motor types include Friction Drive Motors, Hub Motors [Front Hub Motors and Rear Hub Motors], and Mid-Drive Motors [Integrated Mid-Drive and Retrofit Kits].

Friction Drive Motors

Friction drive motors provide power through direct contact with the bicycle tire, offering a simple and cost-effective solution for e-bikes. They are often used in entry-level e-bikes and commuter bicycles.

Hub Motors

Hub motors are integrated into the wheels and provide a direct drive to the wheel, commonly used in urban commuting and leisure bikes. Vendors focus on improving efficiency and motor integration to reduce maintenance costs.

Front Hub Motors

Front hub motors are located in the front wheel, providing balanced power delivery and ease of use for cyclists. These motors are typically used in commuting bicycles and entry-level e-bikes.

Rear Hub Motors

Rear hub motors offer better weight distribution and are often used in high-performance e-bikes and mountain bikes for better traction and stability on varied terrains.

Mid-Drive Motors

Mid-drive motors are placed at the bike’s crankset, providing more torque and better efficiency, especially for mountain bikes and off-road bicycles. These motors offer enhanced power-to-weight ratios and better hill-climbing capabilities.

Integrated Mid-Drive

Integrated mid-drive motors are seamlessly built into the bicycle frame, offering improved aerodynamics and ride quality for high-performance bicycles.

Retrofit Kits

Retrofit kits allow cyclists to upgrade traditional bicycles with mid-drive motors, offering cost-effective solutions for enhancing bike performance without purchasing a new bicycle.

Bicycle Crank Motor Market, Segmentation by Material Type

Material Type segmentation defines the materials used in the construction of bicycle motors, which affect strength, weight, and performance. The main materials include Aluminum Alloy [Reinforced Alloy and Standard Alloy], Carbon Fiber [Composite Fiber and Thermoset Fiber], and Steel [Chromoly and Standard Steel].

Aluminum Alloy

Aluminum alloy is a popular material due to its lightweight and corrosion-resistant properties. Reinforced aluminum is commonly used for high-performance motors, while standard aluminum is used in cost-effective solutions.

Carbon Fiber

Carbon fiber provides high strength-to-weight ratios and is typically used in premium motor systems. Composite fiber and thermoset fiber are used to enhance motor performance in high-end bicycles, offering both rigidity and lightness.

Steel

Steel motors offer enhanced strength and durability, making them suitable for high-torque applications such as mountain bikes and off-road bicycles. Chromoly steel is used for its lightweight and high strength properties.

Bicycle Crank Motor Market, Segmentation by Power Output

Power Output segmentation defines the range of motor power available, which impacts the bike’s performance and efficiency. The key power outputs include 250W-500W, Above 500W, and Under 250W.

250W-500W

250W-500W motors are commonly used in commuter bikes and hybrid bicycles, offering a balance of power and energy efficiency for everyday use and moderate inclines.

Above 500W

Motors above 500W are typically used in mountain bikes and electric bicycles requiring high power output for steep hills and rugged terrain. These motors offer increased torque and better performance in challenging conditions.

Under 250W

Motors under 250W are typically used in lightweight e-bikes and leisure bikes, offering energy-efficient solutions for flat terrain and short-distance cycling.

Bicycle Crank Motor Market, Segmentation by Battery Type

Battery Type segmentation identifies the different battery technologies used to power bicycle motors, which affects power delivery, range, and weight. The main battery types include Lead-Acid Battery, Lithium-Ion Battery [Built-In and Removable], and Nickel-Metal Hydride Battery.

Lead-Acid Battery

Lead-acid batteries are affordable and commonly used in low-cost electric bicycles, providing reasonable range and power. They are heavier than lithium-ion batteries but still suitable for urban commuting.

Lithium-Ion Battery

Lithium-ion batteries are the most common choice for e-bikes, offering superior energy density, light weight, and long lifespan. They are available in built-in and removable configurations for easy charging and maintenance.

Nickel-Metal Hydride Battery

Nickel-metal hydride batteries offer a balance between cost and performance, commonly used in mid-range e-bikes. They offer reliable performance and are more environmentally friendly compared to lead-acid batteries.

Bicycle Crank Motor Market, Segmentation by Application

Application segmentation identifies the main cycling activities that use bicycle crank motors. The key applications include Commuting, Leisure/Sports, Off-Road Cycling [Downhill, Enduro, and Trail], and Racing.

Commuting

Commuting bicycles require motors that offer reliability and efficiency for daily travel. Motors typically range from 250W to 500W to provide enough power for urban commutes.

Leisure/Sports

Leisure and sports bicycles require motors that offer comfort and efficiency for extended cycling sessions. These motors typically fall within the 250W-500W range, offering moderate power for long, relaxed rides.

Off-Road Cycling

Off-road bicycles, including downhill, enduro, and trail bikes, require high-torque motors (above 500W) for steep climbs and rugged terrains. These bikes focus on power and durability for challenging environments.

Racing

Racing bicycles require lightweight and high-performance motors, often utilizing mid-drive motors to enhance speed and power efficiency on competitive tracks.

Bicycle Crank Motor Market, Segmentation by Consumer Type

Consumer Type segmentation identifies the primary customer segments for bicycle crank motors. The key customer segments include Commercial [Delivery Services and Ride-Sharing Services] and Individuals [Adults and Youth].

Commercial

Commercial users, including delivery services and ride-sharing platforms, require high-performance motors that can carry heavy loads and provide consistent power for long hours.

Individuals

Individual consumers purchase e-bikes for personal use, leisure, or fitness. These customers typically seek motors with moderate power output (250W-500W) for commuting or recreational cycling.

Bicycle Crank Motor Market, Segmentation by Bike Type

Bike Type segmentation defines the different types of bicycles that use crank motors, each designed for specific cycling purposes. The key bike types include Cargo Bikes, Folding Bikes, Hybrid Bikes, Mountain Bikes, and Road Bikes.

Cargo Bikes

Cargo bikes require motors with high torque (500W and above) to carry heavy loads over long distances. These bikes are used in commercial deliveries and require reliable, durable motors.

Folding Bikes

Folding bikes require compact motors that provide adequate power for urban commuting. Motors typically range from 250W to 500W, offering a balance of performance and portability.

Hybrid Bikes

Hybrid bikes combine features of both road and mountain bikes, requiring versatile motors for a range of cycling conditions. These motors typically fall within the 250W-500W range.

Mountain Bikes

Mountain bikes require powerful motors (500W and above) that offer high torque for climbing steep hills and navigating rough terrains.

Road Bikes

Road bikes require lightweight motors that prioritize speed and efficiency. Motors are typically 250W-500W for a balance between performance and range on paved roads.

Bicycle Crank Motor Market, Segmentation by Sales Channel

Sales Channel segmentation identifies the main ways bicycle crank motors are distributed to customers. The main sales channels include Bicycle Specialty Stores, Online Retailers, and Supermarkets/Hypermarkets.

Bicycle Specialty Stores

Bicycle specialty stores provide a personalized shopping experience with expert advice and a wide range of motors and bicycles.

Online Retailers

Online retailers have seen a rise in sales due to convenience, allowing consumers to browse and purchase motors and bicycles directly from manufacturers or third-party platforms.

Supermarkets/Hypermarkets

Supermarkets and hypermarkets provide a more affordable option for consumers seeking bicycle motors and bicycles, often featuring budget-friendly options.

Bicycle Crank Motor Market, Segmentation by Geography

In this report, Bicycle Crank Motor Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Regions and Countries Analyzed in this Report

Legend
North America
Rest of North America
Europe
Rest of Europe
Asia Pacific
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Latin America
Rest of Latin America
Rest of the World

North America

North America leads the bicycle crank motor market due to high adoption rates of e-bikes, particularly in urban commuting and delivery services.

Europe

Europe’s market growth is driven by a strong cycling culture, government initiatives, and increasing demand for electric bicycles and cargo bikes.

Asia Pacific

Asia Pacific shows rapid market growth, supported by increasing urbanization, demand for electric bicycles, and commercial delivery services.

Middle East & Africa

The Middle East & Africa market is expanding as cycling adoption grows in urban areas, coupled with government efforts to promote eco-friendly transport options.

Latin America

Latin America is showing steady growth, with increasing interest in e-bikes and cycling for both recreational and transportation purposes.

Bicycle Crank Motor Market Forces

This report provides an in depth analysis of various factors that impact the dynamics of Bicycle Crank Motor Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Comprehensive Market Impact Matrix

This matrix outlines how core market forces Drivers, Restraints, and Opportunities affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.

Market Forces ↓ / Impact Areas → Market Growth Rate Competitive Landscape Customer Behavior Regulatory Influence Innovation Potential
Drivers High impact (e.g., tech adoption, rising demand) Encourages new entrants and fosters expansion Increases usage and enhances demand elasticity Often aligns with progressive policy trends Fuels R&D initiatives and product development
Restraints Slows growth (e.g., high costs, supply chain issues) Raises entry barriers and may drive market consolidation Deters consumption due to friction or low awareness Introduces compliance hurdles and regulatory risks Limits innovation appetite and risk tolerance
Opportunities Unlocks new segments or untapped geographies Creates white space for innovation and M&A Opens new use cases and shifts consumer preferences Policy shifts may offer strategic advantages Sparks disruptive innovation and strategic alliances

Drivers, Restraints and Opportunity Analysis

Drivers

  • More demand for electric bikes
  • Consumers prefer reliable crank motors
  • Cities promote cycling for congestion relief
  • Cycling infrastructure expands worldwide - Cycling infrastructure is experiencing significant expansion on a global scale, reflecting a growing emphasis on sustainable transportation solutions and the promotion of active lifestyles. Governments and urban planners worldwide are increasingly recognizing the importance of accommodating cyclists by developing dedicated infrastructure such as bike lanes, paths, and cycling-friendly streets.

    This expansion aims to create safer and more accessible environments for cyclists, encouraging more people to choose biking as a mode of transport for commuting, recreation, and fitness. The expansion of cycling infrastructure aligns with broader initiatives to reduce traffic congestion, air pollution, and greenhouse gas emissions, contributing to efforts to combat climate change and create healthier and more livable cities.

Restraints

  • Limited battery range affects adoption
  • Durability and reliability concerns exist
  • Consumer perception of e-bikes needs improvement - Consumer perception of e-bikes needs improvement due to lingering misconceptions and lack of awareness. While e-bikes offer numerous benefits such as assisted pedaling, eco-friendliness, and accessibility, some consumers still view them as solely for the elderly or lazy. Efforts to educate consumers about the versatility, convenience, and health benefits of e-bikes could shift this perception.

    Highlighting technological advancements, sleek designs, and integration of smart features can appeal to a wider audience. Addressing misconceptions and raising awareness can enhance consumer acceptance and drive further adoption of e-bikes in the market.

Opportunities

  • Teaching maintenance skills for e-bike owners
  • Expanding e-bike sharing to suburbs and rural areas
  • Using AR for immersive e-bike shopping
  • Exploring blockchain for secure e-bike transactions - Exploring blockchain technology for secure e-bike transactions involves investigating how decentralized ledger systems can enhance the security and transparency of e-bike transactions. By utilizing blockchain, manufacturers and retailers can create immutable records of bike ownership, maintenance history, and transaction details, ensuring authenticity and preventing fraud.

    technology enables secure peer-to-peer transactions, eliminates the need for intermediaries, and enhances trust between buyers and sellers in the e-bike market. Blockchain can facilitate the implementation of smart contracts, automating payment processes and ensuring compliance with warranty agreements, further streamlining e-bike transactions while safeguarding consumer interests and data privacy.

Bicycle Crank Motor Market Competitive Landscape Analysis

Bicycle Crank Motor Market is characterized by intense competition, where leading manufacturers pursue strategies such as collaboration, merger, and partnerships to strengthen their presence. Nearly 60% of the share is concentrated among top players, driven by innovation in motor efficiency and lightweight design that supports sustained growth across regions.

Market Structure and Concentration

The market structure highlights a moderately consolidated setup, with the top five brands holding close to 55% share. This concentration reflects consistent merger activities and collaboration among key firms. Increasing focus on strategies like modular product design and flexible integration is pushing stronger growth momentum within competitive clusters.

Brand and Channel Strategies

Leading companies rely on strong brand positioning and channel strategies to secure consumer loyalty. Nearly 45% of sales flow through online platforms, supported by partnerships with digital distributors. Direct-to-consumer models, alongside targeted retail networks, have intensified competition and helped expand brand visibility across multiple markets.

Innovation Drivers and Technological Advancements

Technological advancements remain central, with around 70% of firms investing in next-generation smart crank motors. Emphasis on innovation in torque sensing, power optimization, and lightweight components accelerates adoption. Integration of connected features through partnerships is reshaping product performance, fueling consistent growth prospects across varied applications.

Regional Momentum and Expansion

Regional expansion strategies have strengthened competitive positioning, with over 40% of new investments directed toward Asia-Pacific. Firms leverage collaboration with local distributors to penetrate emerging markets. This regional momentum, coupled with tailored strategies for urban mobility, underpins rising adoption rates and creates stronger supply chain networks.

Future Outlook

The future outlook suggests sustained growth, supported by more than 65% of players planning increased investment in research. Companies are expected to enhance partnerships with component suppliers and expand innovative offerings. Continued focus on technological advancements and sustainability strategies will likely define market competition in the coming years.

Key players in Bicycle Crank Motor Market include:

  • Bosch
  • Brose Antriebstechnik
  • Continental AG
  • Panasonic Corporation
  • Yamaha Motor Co., Ltd.
  • Shimano Inc.
  • TDCM Corporation
  • Derby Cycle Holding GmbH
  • ZF Friedrichshafen AG
  • Kervelo SAS
  • Brose Fahrzeugteile SE & Co. KG
  • Continental AG
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Yamaha Motor Co. Ltd.

In this report, the profile of each market player provides following information:

  • Market Share Analysis
  • Company Overview and Product Portfolio
  • Key Developments
  • Financial Overview
  • Strategies
  • Company SWOT Analysis
  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Motor Type
    2. Market Snapshot, By Material Type
    3. Market Snapshot, By Power Output
    4. Market Snapshot, By Battery Type
    5. Market Snapshot, By Application
    6. Market Snapshot, By Consumer Type
    7. Market Snapshot, By Bike Type
    8. Market Snapshot, By Sales Channel
    9. Market Snapshot, By Region
  4. Bicycle Crank Motor Market Forces
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. More demand for electric bikes
        2. Consumers prefer reliable crank motors
        3. Cities promote cycling for congestion relief
        4. Cycling infrastructure expands worldwide
      2. Restraints
        1. Limited battery range affects adoption
        2. Durability and reliability concerns exist
        3. Consumer perception of e-bikes needs improvement
      3. Opportunities
        1. Teaching maintenance skills for e-bike owners
        2. Expanding e-bike sharing to suburbs and rural areas
        3. Using AR for immersive e-bike shopping
        4. Exploring blockchain for secure e-bike transactions
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Bicycle Crank Motor Market, By Motor Type, 2022 - 2032 (USD Million)
      1. Friction Drive Motors
      2. Hub Motors
        1. Front Hub Motors
        2. Rear Hub Motors
      3. Mid-Drive Motors
        1. Integrated Mid-Drive
        2. Retrofit Kits
    2. Bicycle Crank Motor Market, By Material Type, 2022 - 2032 (USD Million)
      1. Aluminum Alloy
        1. Reinforced Alloy
        2. Standard Alloy
      2. Carbon Fiber
        1. Composite Fiber
        2. Thermoset Fiber
      3. Steel
        1. Chromoly
        2. Standard Steel
    3. Bicycle Crank Motor Market, By Power Output, 2022 - 2032 (USD Million)
      1. 250W-500W
      2. Above 500W
      3. Under 250W
    4. Bicycle Crank Motor Market, By Battery Type, 2022 - 2032 (USD Million)
      1. Lead-Acid Battery
      2. Lithium-Ion Battery
        1. Built-In
        2. Removable
      3. Nickel-Metal Hydride Battery
    5. Bicycle Crank Motor Market, By Application, 2022 - 2032 (USD Million)
      1. Commuting
      2. Leisure/Sports
      3. Off-Road Cycling
        1. Downhill
        2. Enduro
        3. Trail
      4. Racing
    6. Bicycle Crank Motor Market, By Consumer Type, 2022 - 2032 (USD Million)
      1. Commercial
        1. Delivery Services
        2. Ride-Sharing Services
      2. Individuals
        1. Adults
        2. Youth
    7. Bicycle Crank Motor Market, By Bike Type, 2022 - 2032 (USD Million)
      1. Cargo Bikes
      2. Folding Bikes
      3. Hybrid Bikes
      4. Mountain Bikes
      5. Road Bikes
    8. Bicycle Crank Motor Market, By Sales Channel, 2022 - 2032 (USD Million)
      1. Bicycle Specialty Stores
      2. Online Retailers
      3. Supermarkets/Hypermarkets
    9. Bicycle Crank Motor Market, By Geography, 2022 - 2032 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape Analysis
    1. Company Profiles
      1. Bosch
      2. Brose Antriebstechnik
      3. Continental AG
      4. Panasonic Corporation
      5. Yamaha Motor Co., Ltd.
      6. Shimano Inc.
      7. TDCM Corporation
      8. Derby Cycle Holding GmbH
      9. ZF Friedrichshafen AG
      10. Kervelo SAS
      11. Brose Fahrzeugteile SE & Co. KG
      12. Continental AG
      13. Panasonic Corporation
      14. Robert Bosch GmbH
      15. Yamaha Motor Co. Ltd.
  7. Analyst Views
  8. Future Outlook of the Market