Global Sales of Electric Bicycles Are Expected to Reach to $24.3 Billion in Annual Revenue by 2025
A new report from Navigant Research examines the global market for throttle-control and pedal-assist electric bicycles (e-bikes), with detailed analysis of market opportunities, drivers, and technology trends, as well as forecasts for sales and revenue, segmented by region and battery chemistry, through 2025.
In markets around the world, increasing urbanization and a desire to move away from cars for motorized transportation are creating more opportunities for alternative mobility devices. Globally, e-bikes continue to be the highest selling electric vehicle, with nearly 35 million unit sales forecast for 2016. Click to tweet: According to a new report from @NavigantRSRCH, global e-bike sales are expected to grow from $15.7 billion in revenue in 2016 to $24.3 billion by 2025.
“Rising levels of population density and traffic congestion are driving interest in different modes of transportation,” says Ryan Citron, research analyst at Navigant Research. “E-bikes are uniquely positioned to be a primary benefactor of this trend since they are low in cost relative to cars, do not require licenses to operate, and can take advantage of existing bicycling infrastructure.”
Improving lithium ion (Li-ion) battery technology is also helping to drive e-bike sales, allowing for e-bikes that are lighter, lower in cost, and remarkably similar to traditional bicycles, according to the report. While sealed lead-acid still constitutes a majority of e-bike batteries, the market is steadily shifting toward the Li-ion chemistry.
The report, Electric Bicycles, analyzes the global market for throttle-control and pedal-assist e-bikes. The study provides a detailed analysis of the market opportunities, key drivers of growth, and technology trends associated with e-bikes. Global market forecasts for annual e-bike unit sales and revenue, segmented by region and battery chemistry, extend through 2025. Forecasts of traditional bicycle sales and estimates of e-bike market share of the total bicycle market by region are provided, as well. The report also examines government influence on the market for e-bikes and provides profiles of key e-bike manufacturers and suppliers.