E-bike Sales Will Grow to 8.1 Billion euro in 2020
AMSTERDAM, the Netherlands – Currently nine out of ten e-bikes sold in the world is riding around in China, but trends show growth in other parts of the world elsewhere, especially in Europe.
According to a recent report from Navigant Research, worldwide revenue from e-bikes will grow from 6.3 billion euro in 2013 to 8.1 billion euro in 2020, an increase of 28.6%. In many Asia Pacific countries as well as several European countries e-bike sales are hot.
While the North American market lags behind the European market is growing increasingly crowded with competitors and now accounts for more than 20% of global e-bike revenue annually.
The growing importance of two-wheeled verhicles for commuting and transport like bicycles and scooters in large cities around the world expands the sales opportunity for e-bikes.”Growing urbanization is contributing to traffic snarls on city streets in many countries, and pushing people toward other options,” says Dave Hurst, principal research analyst with Navigant Research. “The aging global population is seen by many as one driver of e-bicycles’ popularity, but the fact is that more young people are choosing them as well.”
The increasing quality and affordability of lithium ion (Li-ion) batteries will help expand the e-bike market, as well, according to the report. Li-ion batteries offer longer lifespans at lower weights than conventional lead-acid batteries.
While there is considerable disagreement over which specific lithium technology is truly best for e-bikes, many in the industry point to lithium iron phosphate as the most e-bicycle- friendly battery technology, because of its combination of thermal stability and long life.