- E-bike sales in North America increased by 65 percent between 2019 and 2020, with pandemic lockdowns playing a significant role.
- During the same time period, electric bike sales increased by 145 percent.
- By 2030, it is expected that throughout America, twice as many e-bikes would be purchased as vehicles.
- According to American e-bike industry analysts, bike infrastructure must immediately catch up.
- Because of the popularity of e-bikes and strong market trends, additional bike brands are almost certain to enter the market.
- Growth in demand for e-bikes as sports equipment among the youth.
E-bike sales soared in America during the COVID-19 epidemic, increasing by 65 percent between 2019 and 2020, according to a New York Times study.
One explanation for motorcycles’ growing appeal might be their ability to go about while being socially isolated from other people. With more individuals working from home, there will be fewer automobiles on the road, making some riders feel safer. There are also the obvious health benefits of the extra activity.
It’s not surreptitious that e-bikes are becoming increasingly popular throughout the world. Men, women, and children of all ages are discovering the advantages of owning an e-bike. Even after the COVID-19 epidemic heightened interest in alternate and private forms of transportation, such as e-bikes. Americans are whirling to e-bikes as a temporary or permanent answer for their mobility requirements because of their exposure to public locations such as bus stops and railway stations, the hazards of ridesharing, and the difficulty transportation firms have hiring personnel.
Today, we’ll look at the state of the American e-bike market, as well as the trends and challenges that are influencing this American e-bike sector. We’ll look at the e-bike’s recent history, present market statistics, and future expectations. Being a part of the American e-bike community at this moment is really exciting. Let’s get started!
American E-bike Market Overview
The e-bike suppliers, producers, brands, sellers, and riders make up this American e-bike industry. Supply and demand bind these groupings together. Riders must be alacritous to pay the price set by the vendors, but sellers may only set their prices based on what the riders are willing to pay. A comparable game is played by contractors and industrialists. Brands are in the middle because they may affect demand due to their name’s reputation.
All of these suppliers, producers, and sellers have joined together in the pursuit of a cleaner, more sustainable environment, which has resulted in e-bikes gaining enormous popularity and a boom in demand in Americans. Other American market drivers include rising consumer attention on personal wellness and appreciating the great outdoors, new legislation, and tax breaks for e-bikes, as well as high traffic congestion in large cities.
The American e-bike business is presently valued at little about 24 billion dollars, based on all of these players and variables. North America accounts for the majority of that worth. The American area is ruled by New York, Los Angeles, and Chicago, with New York accounting for the majority of the region’s growth. The American e-bike industry is quite fragmented in terms of different brands, while a few prominent businesses are focused on electric bikes in addition to regular bikes. When opposed to firms that operate across many product groups, most of the brands that focus completely on electric bikes are able to devote all of their time to developing and innovating on e-bike quality and functionality and making their name in the American e-bike industry.
American E-bike Market Trends
An estimate varies from time to time, but the American e-bike industry is predicted to reach 70 billion dollars by the end of 2027, according to one market research firm. The American e-bike industry is predicted to reach $50 billion by 2026, according to a somewhat more conservative estimate. Over the next five years, the American e-bike market might increase at a compound annual rate of 12%. E-bikes have a bright future, regardless of whatever figures are used. These studies looked into throttle assist and pedal-assist e-bikes for city and mountain biking, and they clearly demonstrate that the e-bike trend is only going higher. Furthermore, North America is predicted to have the fastest growth, although Asia-Pacific currently has the most market share.
The passage of two proposed laws in the United States Senate and House of Representatives dubbed the E-BIKE ACT, which would allow for a refundable tax credit of 30percent of the cost of a qualifying electric bicycle, is one new event that might accelerate the trend toward e-bike ownership. If approved, this law would significantly raise the demand for e-bikes in the United States. It would be extremely beneficial to the entire American e-bike community.
Challenges In The American E-bike Industry
Although demand for e-bikes is growing across North America, the major companies will still face obstacles in 2021. For one thing, as compared to the cheaper cost of certain traditional motorcycles, high prices continue to be a barrier for many individuals. It’s worth noting that the overall cost of ownership of an e-bike may be relatively low depending on how it’s used, especially if it’s used instead of or in addition to a gas-powered vehicle.
Prices may fall over time, but logistical problems and supplier material shortages are likely to keep them high for the foreseeable future. The astonishing rapidity with which consumer demand surged back once vaccinations became accessible throughout the world has thrown supply chains all around the world into turmoil.
Another problem is raising public awareness of e-bikes in general. Not everyone is aware of the advantages and convenience of e-bikes, particularly for elders or those recuperating from accidents. The ability to employ battery power in addition to pedaling has made riding accessible to a large audience who previously would not have felt comfortable traveling long distances on a bike. Many individuals, particularly in North America, are still unaware of the benefits of electric bikes.
Finally, newcomers with low-quality items may jeopardize the image of more established firms. American e-bike brands with low-quality batteries or motors, as well as those with limited ranges, may detract from the e-bike experience.
Future Predictions For The American E-bike Industry
Due to their pleasant ride and more maneuverable body thanks to the smaller tires, we may witness an increase in moped-style electric bikes with fat tires. Anyone who lives in a city may enjoy the ease with which these bikes may be stored compared to bikes with larger fat tires. Because the tradeoff with smaller tires is a loss of economy, full-sized 26-inch fat tires will continue to be popular.
Another unpleasant forecast is that battery technology will not improve significantly in 2021 or 2022, according to some sources. Another major advance in battery technology might take another 5-10 years. Finally, because of the popularity of e-bikes and strong market trends, additional bike brands are almost certain to enter the market, but current manufacturers will likely continue to release new and better goods.
Aside from Texas, cities such as New York, Chicago, California, and Houston saw a surge in demand for e-bikes. Some of the key reasons for adopting e-bikes include the health advantages, environmental benefits, cost savings, avoidance of traffic congestion, and a growth in demand for e-bikes as sports equipment among the youth.
We’re looking forward to seeing what the future holds for the realm of American e-bike. It’s going to be a crazy ride, based on current data and market tendencies!