Electric Bicycle Sales to Reach Nearly 38 Million Units Per Year by 2020

Author:Navigant Research     Source:Navigant Research     Click:492     Publish time:2013/4/18 11:45:16

Driven by intensifying urbanization, the increasing use of bicycles and other two-wheeled vehicles for everyday commuting, and the rise of new market entrants and more mature products, the market for electric bicycles has become well-established in some regions, particularly in Asia Pacific and Europe.

According to a new report from Navigant Research, worldwide sales of e-bikes will grow slowly but steadily through the remainder of this decade, growing from 30.6 million units annually in 2013 to 37.9 million units in 2020.

“In many cities, the streets are so clogged with traffic that they are virtually unnavigable by car, and e-bikes are seen as an increasingly viable option for urban mobility,” says Dave Hurst, principal research analyst with Navigant Research.  “The utilization of high-quality, affordable lithium ion batteries, among other factors, is helping open this market to people outside the normal e-bicycle demographic.  Younger riders are more frequently turning to e-bicycles in countries in North America and Western Europe.”

China accounts for the vast majority of e-bicycle sales: 90 percent of the e-bicycles sold worldwide from 2013 to 2020 will be sold in China.  Many cities in China, however, either already have or are considering bans on e-bicycles because of increasing accidents and bicycle congestion.  The report’s forecasts assume that bans will either remain in place or be enacted in parts of several major cities, including Beijing, Shanghai, and Shenzhen.

The report, “Electric Bicycles”, provides a detailed analysis of the market forces, key drivers of growth, technology, and government influence on the worldwide market for electric bicycles.  Forecasts are included, under both base and aggressive scenarios, for annual e-bicycle sales through 2020, broken down by region and by battery technology.  The report also includes profiles of key e-bicycle manufacturers, suppliers, and other market players.  

Keywords:Electric Bicycle Sales to Reach Nearly 38 Million Units Per Year by 2020
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