Reports predict e bike sales will reach 17 million per year in 2030 from 3.7 in 2019. The market is already on an upwards trajectory with a 23% year on year increase. It is expected that Europeans will purchase an extra 10 million electric bikes per year by 2030. Electric bikes even outsold electric cars in the US (according to figures from Bloomberg) with an estimated 790,00 e bikes imported compared to 490,000 electric cars sold.
Electric bikes were on the steady incline from before the pandemic but since COVID-19 arrived sales of e-bike have seen a drastic increase. There are a huge range of contributing factors to this including; extended time at home during lockdowns, worldwide promotion of a more active lifestyle, furlough, increase awareness and pressure of climate change and more.
Recent figures display a growth rate for electric bicycles of 240% in the 12 months leading up to July 2021 while during that same period general cycling equipment only grew at a rate of 15%. These figures show growth on top of the increase in sales displayed at the beginning of the pandemic.
Studies have shown that electric bikes can provide almost as much exercise as normal pedal cycles (sometimes even more). Additional advantages of e bikes are that you can travel further and faster without the same effort meaning you can show up at work without needing a shower on arrival.
North America allow faster electric bikes (up to 20mph and pedal assist) to the UK which still regulate the bikes to 15.5mph and pedal assist. The UK is now further embracing electric bikes by offering them in sharing scheme, similar to the electric scooter sharing schemes we have seem embraced across the entire country.