Global Annual Sales of E-Bicycles are Expected to Exceed 40 Million Units by 2023, According to Navigant Research

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Increasing urbanization is likely to drive growing acceptance of e-bicycles for personal transport, report concludes

BOULDER, Colo.--A new report from Navigant Research analyzes the global market for throttle-control and pedal-assist electric bicycles (e-bicycles), including global market forecasts for annual e-bicycle unit sales and revenue through 2023. 

While e-bicycles are still an emerging market in North America, where they have largely been viewed as a novel type of sporting equipment rather than a vehicle for transportation, they have developed into a mature market in many countries in Asia Pacific and Western Europe, where strong commuter cultures utilize e-bicycles for everyday transportation. Along with technology advances in e-bicycles, emerging trends in cities worldwide have helped position this market for accelerating growth. Click to tweet: According to a new report from Navigant Research, worldwide sales of e-bicycles are expected to grow from 31.7 million annually in 2014 to 40.3 million in 2023.

“The global market for e-bicycles continues to expand with the advent of new technology developments and the increasing affordability and availability of product offerings,” says Ryan Citron, research associate with Navigant Research. “Among other trends, combined throttle-control and pedal-assist models, electric cargo bicycles, all-in-one retrofit kits and wheels, and the use of e-bicycles in police patrol and security applications have all contributed to creating a growing global market with strong potential.”

Growing urbanization, along with rising fuel costs and roadway congestion, is pushing consumers toward alternative forms of transportation and increasing the use of two-wheeled transport for commuting purposes, according to the report. This is particularly true in the developing countries of Asia Pacific; it is estimated that 170 million consumers in China use an e-bicycle every day. As more people in the developed countries of the West choose to live in urban centers rather than far-flung suburbs, e-bicycles are likely to become an increasingly popular choice for personal transport.

The report, “Electric Bicycles,” analyzes the global market for throttle-control and pedal-assist e-bicycles. It provides a detailed analysis of the market forces, key drivers of growth, and technology associated with e-bicycles. Global market forecasts for annual e-bicycle unit sales and revenue, segmented by region, battery chemistry, and scenario (base and aggressive), extend through 2023. The report also examines government influence on the market for e-bicycles and profiles of key e-bicycle manufacturers and suppliers, as well as other market players. An Executive Summary of the report is available for free download on the Navigant Research website.
 
About Navigant Research
 
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors.

Additional information about Navigant Research can be found at www.navigantresearch.com.
 
About Navigant
 
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare.

More information about Navigant can be found at navigant.com.
 
* The information contained in this press release concerning the report, “Electric Bicycles,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Contacts
Navigant Research , Richard Martin, +1-303-493-5483 ,  richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336 , laverne.murach@navigant.com

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