E-bicycle global market sale to touch 40.3 m by 2023

The worldwide sales of e-bicycles are expected to grow from 31.7 million annually in 2014 to 40.3 million in 2023, according to a new report from Navigant Research.

In North America, e-bicycles are still an emerging market, where they have been viewed as a novel type of sporting equipment rather than a vehicle for transportation.

In many countries in Asia Pacific and Western Europe, e-bicycles have developed into a mature market, where strong commuter cultures utilize e-bicycles for everyday transportation.

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In developing countries of Asia Pacific; it is estimated that 170 million consumers in China use an e-bicycle every day.

In Western developed countries, as more people live in urban centers, e-bicycles are becoming a popular choice for personal transport.

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New global emerging trends have helped shape this market for growth acceleration in addition to technology advances in e-bicycles.

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, Navigant Research.

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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, adds Citron.

In addition, consumers are forced to choose alternative forms of transportation, increasing the use of two-wheelers due to growing urbanization, rising fuel costs and roadway congestion.

Sabeena Wahid

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