E-bikes are changing the way we move — A glimpse into E-bike sales around the globe
If you saw the Model Y unveiling by Elon Musk recently, then you saw him showcasing Tesla’s greatest achievement of the past 10 years in just 2 slides.
The biggest names in the industry — Forbes, LA Times, Daily Mail to name a few, ousted the idea of electric cars ever even becoming mainstream. Look where Tesla and electric cars stand today — over 2 million units sold worldwide in 2018.
We all know Electric vehicles are the talk of the town in every industry and every part of the world. And why so? They promise something gasoline vehicles never promised — a sustainable future. Whether you are a clean energy believer or an investor you cannot ignore how electric vehicles are shaping our future for a more promising tomorrow.
EV sales worldwide
Since E-bikes fall directly under EVs, its important to understand the the EV market from the bird’s eye view. In 2017, for the very first time, the sales of four-wheeled electric vehicles crossed 1 million units. Last year, this number saw a 64% increase with more than 2 million units sold worldwide. This number is expected to cross 4 million by the end of 2020. These sales include battery electric vehicles (BEV) as well as plug-in hybrid electric vehicles (PHEV).
“This number is expected to cross 4 million by the end of 2020"
However in many countries, the market share on EVs is increasing at a rapid pace. Most of the fastest growing markets, such as Finland showed a 148% increase in the first half of 2018, are new to adopting electric vehicles.
Over 1 million electric cars were sold in 2017 — a new record — with more than half of global sales in China. The total number of electric cars on the road surpassed 3 million worldwide, an expansion of over 50% from 2016.
China now solidifies its position as the country with the biggest EV market. The country now has a bigger market than US and Europe combined.
In terms of share, Norway remains the world’s most advanced market for electric car sales, with over 39% of new sales in 2017. Iceland follows at 11.7%, then Sweden at 6.3%.
Though the numbers are impressive, in comparison to ICE powered vehicles, this number is still meager.
World E-bike Market Share
E-bikes or electric cycles have been in existence for over a hundred years. Among the first vehicles to get an electric power-train were bicycles — we call them e-bikes, or electric assisted bikes. In fact, first models of electric bicycles appeared in late 19th century. US Patent office registered several e-bike patents since 1895 to 1899 (Ogden Bolton patented battery-powered bicycle in 1895. With the Li-Ion technology in batteries becoming cheaper and more accessible, they became mainstream and widely accepted only after the year 2005.
An E-bike is either partly assisted by an electric motor (pedelec) or completely powered by an electric motor. The global e-bike market is witnessing a high demand growth, especially from the European region, as the sales have registered an annual growth rate of more than 15%, in few countries during the last few years. Netherlands has been dominating the European market followed by Austria and Denmark. However, even in the e-bike market, Asia Pacific accounts for the majority of the market share.
The Growing Market of E-bikes
The number of electric four wheeled vehicles in circulation is around 4 million. But the number of electric bikes in circulation is over 35 million.
From 2006–2012, e-bikes accounted for less than 1% of total bicycle shares in US. In 2018, the number has substantially increased.
E-bikes have been very popular in the Asia pacific region especially China and Singapore. The government in these countries has been creating an optimum environment for cycling by providing good cycling infrastructure. Also riding an e-bike does not require a rider’s license and it can be used in the cycling lane. E-bikes are just as fun to ride as a normal bicycle but with the added benefit of being able to ride longer distances with very little fatigue.
The US market is still very small compared to the rest of the world with China dominating the front. Traditionally, Something like an e-bike has always been purchased off retail stores but with the booming of the e-commerce business, many e-bikes are now purchased online. Crowdfunding is another source of e-commerce that has become very popular for e-bike purchases in the recent years.
At Calamus we are creating the next generation of electric assisted cycles addressing the need for a high performance but accessible electric commuters accounting for atleast 400 million USD annual revenue worldwide.
