- In Europe, the e-bike as a mode of transportation is even more common, and sales are actually expected to overtake cars by the middle of this decade.
- In the United States, where the public has been slower to take interest in e-bikes, new e-bike companies have achieved impressive sales records over the past two years.
It is almost inevitable that the next decade will be defined by a revolution in battery-powered transportation. The uprising is not limited to electric vehicles alone, however. In fact, the e-bike industry, which has seen impressive sales growth over the past few years, is expected to lead the charge.
Looking back, for years e-bikes were relegated to niche status in most countries. But adoption rates are gradually increasing as things start to change in terms of lithium-ion battery technologyprice, power, as well as a growing movement in cities switch from gas-powered cars to zero-emission vehicles.
Now, analysts believe that e-bike sales will reach lightning speed over the next few years. To begin with, Deloitte in its 2019 edition annual forecast on technology, media and telecommunicationspredicts that 130 million e-bikes will be sold worldwide between 2020 and 2023. European market only where bicycles are more common, many countries in the region are seeing annual growth in e-bike sales in the range of 30-40%.
By comparison, car sales are stagnating at low single-digit growth. This leaves room for e-bike sales to easily overtake car sales later this decade in Europe. Even the Confederation of European Bicycle Industry (CONEBI) expects the region’s e-bike market size to reach around seven million units by 2025.
In a joint statement by Cycling Industries Europe (CIE), CONEBI and the European Cyclists’ Federation (ECF), Europeans are expected to buy 10 million more bicycles per year by 2030, 47% more than the number of 2019. The total of 30 million per year will bring bicycle sales to more than double the number of passenger cars currently registered per year in the EU.
Meanwhile, in the United States, where the public has been slower to adopt e-bikes, new e-bike companies have reached more than one hundred thousand sales in just two years, according to Electrek. To top it all off, the most established e-bike companies in the US raise hundreds of millions of dollars in funding as investors realize the huge increase in e-bike adoption.
Overall in the United States, according to data compiled by the NDP, this shows that in the 12 months to July 2021, e-bikes grew by 240%, making them the third largest category of cycling in terms of of turnover. This number is notable because it makes e-bikes a broader category than road bikes, which have traditionally been one of the biggest categories in all of cycling.
Experts believe that in addition to the growing consumer preference for recreational and adventure activities, the adoption of e-bike applications in several industries, such as logistics and e-bike rental services, is expected to drive adoption. and sales of e-bikes.
Overall, the European market should generate solid returns in the coming months. According to Market research report“The growing popularity of e-cargo and mountain bikes, the increase in traffic congestion and the policy of subsidizing electric bicycles in France, the special legal provisions in Belgium to accelerate the adoption of the products, as well as the presence “A strong cycling culture and infrastructure in the Netherlands is driving the growth of the regional market. Additionally, a growing health-conscious population is contributing to the expansion of the industry.”