A Navigant Research study reveals the success of electric bike sales. China leads the way, Europe is growing: a market set to rise from today's 14 billion to 22 billion by 2025.
E-bikes are the best-selling electric mode of transport, outpacing even cars. This is the finding that emerges from a study on electric bike sales conducted by Navigant Research, a team focused on market research and analysis.
Technological advances, particularly in lithium-ion batteries, have made it possible to produce and sell electric bikes that are lighter, more affordable and aesthetically closer to traditional bicycles. Although the majority of sales still concern e-bikes with lead-acid batteries, it is lithium-battery models that are progressively winning over greater market share.
China is rediscovering the tradition of cycling in a modern, technological key. The Chinese market has indeed become the most important, with electric bike sales forecast at 32 million out of a global total of 35 million — more than 90 per cent. It is, however, a market that is beginning to show signs of saturation and a slight decline, and one that is subject to transit bans in areas of China's major cities, in contrast to Europe, where the e-bike sector is growing steadily, alongside quality bicycles such as those of Italian craftsmanship, which are highly regarded abroad.
Western Europe and North America are therefore seeing an increase in electric bike purchases and sales, driving global growth that, according to Navigant Research, should take sales volumes from $15.7 billion (€14 billion) in 2016 to $24.4 billion (€22 billion) in 2025.
Italy, too, is beginning to emerge as an attractive market for this sector, as demonstrated by a survey carried out a few months ago showing Italians' growing interest in electric and pedal-assisted bicycles.