Navigant Research expects global annual sales of e-bikes to grow from nearly 32 million e-bicycles in 2014 to over 40 million in 2023, according to a just released research report on the category.
This Navigant Research report finds the global market for electric bicycles (e-bicycles) continues to expand with the advent of new technology developments and the increasing affordability and availability of product offerings. Numerous countries in Western Europe and Asia Pacific have developed mature markets due to strong commuter cultures that utilize e-bicycles for transportation purposes. Conversely, e-bicycles still represent an emerging market in North America, as they have largely been treated as a novel type of sporting equipment rather than a vehicle for transportation.
Innovative emerging trends in the e-bicycle market have helped position the industry for increased market growth. Among other trends, combined throttle-control and pedal-assist models, electric cargo bicycles (e-cargo bikes), all-in-one retrofit kits and wheels, 3D-printed bicycles, and the use of e-bicycles in police patrol and various security industries have all contributed to a growing market with strong potential. While China still leads the global e-bicycle market, Western Europe and, to a lesser extent, North America are beginning to increase their market share, largely in terms of e-bicycle revenue.
