Electric bicycle sales expected to exceed 40 million units by 2023

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According to foreign media reports, a huge revolution will take place in the world's transportation sector in the next ten years, which is defined as a new energy revolution represented by battery power. In the future, it is no longer Tesla Model 3 electric cars and Cybertruck electric pickups that will really lead the trend, but electric bicycles.

For many years, electric bicycles can only be regarded as niche products in most countries. From 2006 to 2012, electric bicycles accounted for less than 1% of global annual bicycle sales. In 2013, sales of electric bicycles in the entire European region stabilized at around 1.8 million, while sales in the US market were only 185,000.
Electric bicycle
However, as lithium-ion battery technology, battery prices, battery capacity continue to improve, and major cities around the world begin to gradually transform from fuel vehicles to zero-emission clean vehicles, the past pattern is being changed. At present, some experts have said that it is expected that the sales growth rate of electric bicycles will enter a blowout period in the next few years.

Last week, Deloitte, a predictive analysis agency, released a forecast report on technology, media, and communications. It is estimated that between 2020 and 2023, domestic sales of electric bicycles in the United States will reach 130 million units. By the end of next year, the number of electric bicycles on the road will exceed the number of electric vehicles for the first time.
Electric bicycle
Considering that the American people like cars far more than electric bicycles, coupled with the media's pursuit of electric cars, Tesla's propaganda of electric cars, Americans who use bicycles as leisure tools may not agree with the above prediction. In the United States and Canada, only 1% of workers use bicycles as a means of transportation to and from get off work.

In 2023, sales of electric bicycles are expected to exceed 40 million. According to the data given in the International Energy Agency's 2019 Global Electric Vehicle Outlook, as of 2018, the number of electric vehicles in use worldwide was 5.1 million. By 2025, sales of new electric vehicles will be only about 12 million.
Electric bicycle
The substantial increase in sales of electric bicycles seems to mean a dramatic change in the way people travel. In fact, according to Deloitte's forecast, from 2019 to 2022, the proportion of global office workers who ride bicycles will increase by 1%. On the surface, the rate of increase may not seem to be much, but when the base figure is taken into account, this figure will be very large.

The number of people who ride bicycles will increase by tens of billions each year in the next few years, which means fewer trips by car and lower emissions. This change is bound to have spillover effects on urban congestion and air quality.
Electric bicycle
Jeff Loucks, head of Deloitte's technology, media and communications center, pointed out that the sales of electric bicycles across the United States will not show an average growth trend, and the largest utilization rate will occur in cities. More and more people are pouring into the core areas of cities across the United States. Without some people choosing to ride bicycles, the roads and public transportation systems will be overwhelmed.

Deloitte is not the only organization predicting the electric bicycle revolution. Professionals at Guidehouse, another analyst firm, also said that sales of electric bicycles are expected to reach 113 million in 2020-2023.
Electric bicycle
This data is slightly lower than Deloitte's forecast, but the increase is still impressive. In this analyst's view, electric bicycles may be the best-selling electric vehicles on the planet in the future.
Although the sales of electric bicycles in the US market have been rising steadily in recent years, they still account for only a small part of bicycle sales. According to the data released by the market research organization NPD, from 2016 to 2017, the sales of electric bicycles increased by an astonishing 91%, and from 2017 to 2018, it increased by 72%, and the sales reached 143.4 million U.S. dollars.

Compared with 2014, domestic sales of electric bicycles in the United States have increased by as much as eight times.
Analysts from NPD believe that some forecasting agencies, such as Deloitte, may somewhat exaggerate the boom of electric bicycles. In 2020, domestic sales of electric bicycles in the United States are only a mere 200,000 units. They believe that although the sales of electric bicycles are growing the fastest in the bicycle market, it does not mean that the sales of electric bicycles will exceed that of electric bicycles in the future.
Electric bicycle
Electric vehicle sales in the US market have been weak. The European region has forcefully adopted aggressive policies aimed at reducing carbon emissions from new cars, but the Trump administration has been committed to overturning Obama’s emission reduction policies to improve fuel efficiency.

Although Tesla has sold hundreds of thousands of electric cars. But it is difficult for other traditional automakers to achieve such great success in their first electric vehicles.
Electric bicycle
Electric bicycles may become more and more popular in the future, but they may not be suitable for everyone. Many people think that it is not safe to ride a bicycle, or that it is necessary to use a car to pick up children and goods.

However, Deloitte's analysis believes that changes in the electrification of bicycles will make more structural experiments possible. Bicycles can be reconfigured and used to pick up children and transport goods. But the steel structure and very large power output are no longer needed.
Electric bicycle
Compared with electric vehicles, electric bicycles still have their own distinct advantages, such as lower price, easier charging, and no need to invest heavily in supporting infrastructure. Perhaps one day the sales of electric bicycles will surpass that of electric cars.

If many cities make the necessary changes, such as encouraging more people to ride bicycles, establishing a network to protect bicycle lanes, restricting the use of cars in certain areas, and providing safe parking places for bicycles. Then electric bicycles are likely to maintain the first place in the electric transportation system.

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