Electric Bike Market Is Still Moving Fast

In 2023, global sales of e-bikes are forecast to reach approximately 40 million units, according to Statista.com. China is expected to remain the most important market for electric bikes worldwide, as 34.3 million units are predicted to be sold there. That leaves almost six million units for the rest of the world and a majority of those are in Europe with a small, but growing market in the USA.

Additional trend research shows how urban and suburban residents seek faster, greener modes of transportation. E-bikes and new bike share programs are part of that trend as well as two-seater microcars and fully electric vehicles. Of course, Uber and Lyft are having an impact on urban dwellers choosing not to have a vehicle at all (but these smaller footprint vehicles provide a hybrid solution).

There is no shortage of traditional and specialty bike makers looking at how to serve this new generation of consumer. Earlier this year, I had the opportunity to borrow one, an E-Bike manufacturer in the Los Angeles area. They loaned us the "Original" which is a “Fat Tire” model and after a relatively easy step-by-step assembly process, we were riding it around the yard and neighborhood. It was the first e-bike I had ridden and I have to say it was a blast. The overall experience and solid feeling of the electric bike gave me positive feelings for where this segment of the industry is going.

E-bikes are often challenged by acceleration that is either too slow or too fast, but I found the loaner to be pleasantly right in the middle. The lithium-ion battery is substantial at a hefty 36V 8.7 Ah. I liked the stability of the fat tires, especially when in full electric mode at 25mph, but when I had to actually pedal it made me wish for the narrow, thin tires on most trail bikes. Overall, I would say that I can see why a growing number of urban and suburban users would want to buy an e-bike.