A recent report from Navigant Research analyzes the global market for throttle-control and pedal-assist electric bicycles (e-bicycles), including global market forecasts for annual e-bicycle unit sales and revenue through 2023.
As innovation in engine-powered two-wheel transportation accelerates, the market for e-bicycles is expected to expand. The technological trends contributing to this development include combined throttle-control and pedal-assist models, electric cargo bicycles, all-in-one retrofit kits and wheels, 3D-printed bicycles, and the use of e-bikes in security applications. Click to tweet: According to a recent report from Navigant Research, worldwide sales of electric bicycles are expected to surpass 360 million annually by 2023.
“In addition to new technologies, economic and environmental market forces are also shaping the global e-bicycle industry,” says Ryan Citron, research associate with Navigant Research. “Governments are offering support for sustainable transportation, while consumers are finding value in this alternative mode of transportation as a way of avoiding traffic and high fuel prices, and navigating congested urban areas.”
Younger consumers, particularly in North America and Western Europe, are also becoming more interested in e-bicycles, according to the report. As the industry continues to develop, young professionals choosing e-bicycles for urban commuting are expected to contribute significantly to the growth of the overall e-bicycle market in these regions.
The report, “Electric Bicycles,” analyzes the global market for throttle-control and pedal-assist e-bicycles. It provides a detailed analysis of the market forces, key drivers of growth, and technology associated with e-bicycles. Global market forecasts for annual e-bicycle unit sales and revenue, segmented by region, battery chemistry, and scenario (base and aggressive), extend through 2023. The report also examines government influence on the market for e-bicycles and profiles of key e-bicycle manufacturers and suppliers, as well as other market players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, “Electric Bicycles,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
