Electric bike market US$30 billion by 2025 – report

Electric bikes are set to become a more than US$30 billion market within seven years.

Increasing urbanisation and a desire to move away from cars for motorised transportation are opening opportunities for low speed electric vehicles (LSEVs), particularly e-bikes and e-scooters, a new report says.

E-bikes especially are uniquely positioned to be a primary benefactor of this trend, Counterpoint Research United Kingdom-based research director Peter Richardson says.

They are low in cost relative to cars, require minimum or no licensing and are a sustainable means of transportation, able to leverage existing and future mainstream EV charging infrastructures, he says.

The report looks in detail at the LSEV market, with a particular focus on e-bikes. The impact of technological developments on core electrical components such as electric motors and batteries is highlighted.

The report also outlines how innovation in the integration of display/control units with advanced drive systems as well as external devices such as smartphones is enhancing the riding experience and transforming e-bikes and other LSEVs into truly connected vehicles.

The e-bike market is likely to grow steadily over the next several years and is expected to be worth over US$30 billion by 2025, the report says.

The report, Connected Low Speed Electric Vehicles Set To Revolutionise Urban Transportation, includes key planning assumptions, market drivers and inhibitors, a market forecast, e-bike technologies and key players.

Counterpoint Research is a global industry analysis firm with headquarters in Hong Kong and teams based in seven other cities worldwide.

Email info@counterpointresearch.com for more information.