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The US Electric Bike Sale Boom 

Press Release

In the coming years, there is going to be a change in the battery-powered transportation system. The powered vehicles are not going to be the common Tesla model 3 or the wildly splitting cyber track. In addition, this will not be an electric scooter but it will be a bike.

Electric bikes were previously used as one of the major means of transport but currently, they have been put aside in many nations.  The electric bike sale has recorded a major fall in its sales whereby only 185,000 bikes were purchased in the US while 1.8 million electric bikes were sold in Europe from the year 2006 to the year 2012. 

Since the development of Lithium ions battery technology, things have started changing in the world market.  The market of electric bikes has increased abruptly due to bike-ability to hold more energy, the increased movement in cities, low prices of the bike and the desire of many people to use zero-emission vehicles has caused a shift from gasoline-powered vehicles.

During the annual report of Deloitte last week, it predicted that more than 130millions bikes would be sold in the US from the year 2020 to the year 2023. The company predicted that this sale would help to decongest our roads by the end of next year. 

This media release seems to be very ironical in the ground, especially how the media moved with this information on electric bikes. In the United States and Canada, less than 15 of the total population use bike as a means of transport on daily basis but the majority of people view bikes as a means of leisure vehicles than a serious means of transport from home to work.

It is not easy for E-bike to sale more than 40million bikes yearly from the year 2020; this is because they have some setbacks they need to overcome in society. Some of the setbacks the company will have to overcome are to change people’s culture about bikes and make bikes that are more efficient.  in comparison with electric vehicles, in the year 2018, only 5.1 million electric were in circulation and the company predicts to have sold 12 million vehicles by the year 2025. 

Deloitte but also Guidehouse have not only predicted this E-bike dramatic change. Ryan Citron (Guidehouse analyst) said that he believes more than 113 million e-bikes will be purchase between the years 2020 and 2023 although his figure was less than those of Deloitte. 

According to the market research firm group in the USA known as NPD, Deloitte and other companies are overestimation the e-bike boom. NPD says it predicts 100,000 e-bike sales in the US in the year 2020. 

By Justin Barney

After working for 10 years in various start-ups and studying multiple business models, Justin finally settled with the creation of Feed Road that revolutionizes the existing journalistic patterns. With his experience, he jots down business articles for Feed Road that are exciting to read.