Electric bicycles to be a $11 billion industry by 2020

Electric bike
CC BY-SA 2.0 Flickr

Starting to be real money...

Electric bikes are an extremely environmentally-friendly way to get around, so we're all for more of them! Regular bikes are even cleaner, but the advantages of e-bikes shouldn't be underestimated; a lot of e-bike riders might not bike nearly as much if they didn't have an electric motor to assist them, because they have a long commute, or they live in a hilly area, or because of some medical condition, or even sheer laziness. The reasons don't matter as much as getting more people biking!

Electric bike survey below

It's good to see that the electric bike industry is growing. It's not going gangbusters or anything, but it is forecast to grow from $8.4 billion in 2013 to $10.8 billion in 2020. China is the main player in that market, with 9 of every 10 e-bicycles being sold going there.
However, the e-bicycle market is in a state of change. Western Europe’s market is growing increasingly crowded with competitors and now accounts for more than 20% of global e-bicycle revenue annually. Meanwhile, North American players are finding new, younger e-bicycle consumers among those who ride for transportation rather than entertainment. Even the massive 28 million unit Chinese market is in a state of change as the government considers changes to the rules governing the market and consumers begin to recognize the value of lithium ion over lead-acid batteries. Navigant Research forecasts that annual sales of e-bicycles will grow from 31 million in 2013 to nearly 38 million in 2020. (source)

I'm curious, how many people riding this ride an electric bike?


Via Navigant

See also: Things you might see in Amsterdam, the bike capital of the world... (video)

Electric bicycles to be a $11 billion industry by 2020
Electric bikes are an extremely environmentally-friendly way to get around, so we're all for more of them!

Related Content on Treehugger.com