A new report from Guidehouse Insights analyzes the global market for electric bicycles (e-bikes), providing forecasts for annual e-bike unit sales, revenue, market share, and average transaction prices through 2030.
Although sales of traditional bicycles have remained flat in most major world markets for the past several years, e-bikes are achieving unprecedented growth across North America, Europe, and pockets of Asia Pacific. Due to the strong growth and higher average purchase prices of e-bikes, many bicycle manufacturers rely on the technology to increasingly fill the void of sinking revenue from traditional bicycles. Click to tweet: According to a new report from Guidehouse Insights, global e-bike sales revenue is expected to grow from $27.3 billion in 2020 to nearly $47 billion by 2030, at a compound annual growth rate (CAGR) of 5.5%.
“Bicycle manufacturers that fail to offer comprehensive and competitive e-bike product lines risk losing substantial new business and the ability to remain profitable,” says Ryan Citron, senior research analyst at Guidehouse Insights. “Cumulatively, nearly 200 million e-bikes are expected to be sold over the next 5 years and roughly 450 million throughout the forecast period.”
The large increase in e-bike sales is due to several emerging market and technology trends, including significant investment into electrification by major bicycle and automotive manufacturers, historic adoption levels among European consumers, and increased e-bike model availability and use cases. Lithium ion (Li-ion) batteries are also continuing to achieve significant cost reductions, providing increased electric ranges, and decreasing in size, resulting in more affordable and desirable products for consumers.
The report, Market Data: Electric Bicycles, analyzes the global market for e-bikes. The study provides a detailed analysis of the market opportunities, key drivers of growth, and technology trends associated with e-bikes. Global market forecasts for annual e-bike unit sales, revenue, market share, and average transaction prices extend through 2030 and are segmented by region and country. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Market Data: Electric Bicycles, is a summary and reflects the current expectations of Guidehouse Insights 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 Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.