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 bikeFlickr/CC BY-SA 2.0

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)

Tags: Bikes | Biking | Electric Bikes


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