An update to the Electric Bike World Report suggests as many as 35 million electric bikes are sold annually at the present rate.
Written by Frank Jamerson of the Electric Battery Bicycle Company and Ed Benjamin, the Light Electric Vehicle Association founder and MD of eCycleElectric, the study is now available to purchase.
Revealing some of the headline findings at ebwr.com, the authors anticipate two billion pedal-assisted bikes in circulation by 2050, up from the 200 million said to be in circulation today.
Furthermore, it suggests that the US market will soon begin to mimic European demand having shown similar growth trajectory in recent times.
Coming in at 274 pages, the review takes in information on markets worldwide and contributing factors to each success of under performance.
A detail on China reveals production of electric bikes has grown from 1.6 million in 2002 to over near 37 million in 2013 – a 23 fold increase in slightly over 11 years.
The Chinese data goes on to discuss the volume of complete bike and parts makers in the area, estimating that the result is some 2 million people in employment as a result of the e-bike trade. Interestingly and correlating with the commonly held belief that the strong are getting stronger, there was previously some 2,000 or more e-bike manufacturers. Today that figure sits closer to 700, with the top 393 commanding annual turnover of above $3.2 million.
The study proposes that the industry is seeing three paradigm shifts:
- Auto makers and suppliers entering the business
- Collision avoidance technology adapted for the electric bike, paired with a rise in sales
- Finally, CyclingIndustry.News regular and noted bike consultant Jay Townley proposes a way for independent bike shops to be more customer centric and thus stronger.
Townley told CyclingIndustry.News the report is a must-read for those in the e-bike business.
“I have known Frank Jamerson for 25 years and have been using his EBWR as my reference source for information about the latest battery and electric bicycle technology and innovations since he has been publishing this report. The global market perspective the annual EBWR provides gives me a current big picture view of the ebike industry and business and I have used this publication as a reference and resource for both internal and external reports,” he said.
To order the report, costed at $395 for the June 2015 edition and $195 for the 2016 update (bundled at $590) see here.