Electric bike sales 2022

November 29, 2021

Electric bike sales leading the ride into our electric future!

Yes business is booming!.. All studies point to the fact that electric bike sales around the globe are increasing at a rapid pace.
Most of us daydream on electric powered cars and imagine the possibilities of self-driving robotaxis. Articles about cars that can fly catch our eye, robotic delivery services, and human-carrying drones that could one day transport passengers across town (maybe). But in a world obsessed with fuel economy, health and convenience, the real tech-forward answers to today's commuting problems are right in front of us already populating our roads from coast to coast.
Yes, that’s right!. The real transportation transformation is happening in plain sight, and the charge is being led by electric bike sales which are absolutely off the hizzy right now. A two-wheeled future!

Automakers have already bet big on vehicle electrification

You would have to be spending most of your time under a rock not to be aware that automakers have bet big on an electric-vehicle future. With an impossible number of new electric vehicles due to be launched this year, and many more announced for next year.. it's no longer up for debate whether or not the future for the automotive industry is electric. Ford, Mercedes-Benz, Mazda, and many others, in addition to numerous start-ups—are bringing countless new EVs to market between now and 2023. VW recently announced that it will spend $66 billion in the next half decade on electrification and new digital technology. Ford has previously committed investment of $11 billion into vehicle electrification by 2023. And not to be left behind - GM just announced a $2.3 billion investment in a battery factory in Ohio. But they—and we—will increasingly be sharing the roads and our electricity with electric bikes.

Major accounting firms commissioning studies to crunch the data on electric bike sales worldwide

You know you are in the right business when you are on Deloitte's radar. Accounting firm, Deloitte's annual technology, media, and telecommunications report predicts that between now and 2023, 40 million electric bikes will be sold globally and about 300 million bikes will travelling the world's roadways. That is 50 percent more than today! By 2025, expect to see 12 million electric bikes being sold worldwide each year! Electric bikes are experiencing incredible growth in sales. And that's not just true in places you’d expect like the Netherlands and Germany where people have traditionally used bikes as their main form of transportation..

What does the future hold for electric bike sales within the United States?

A startling fact, while regular bicycle sales have remained stagnant for the past three years, electric bike sales have increased by 79% in 2018 according to market research firm NPD Group which also said that U.S. electric bike sales are eight times as great as they were in 2014. According to Deloitte’s figures taken from US domestic sales data - 400,000 electric bikes were sold in 2018—compared to 185,000 US sales in 2013. In fact, 2019 bike sales lost ground in every category except electric bikes, which are up 24.7% over the previous year according to the Bicycle Product Suppliers Association Sell-in Report. Another very expensive study, The Electric Bicycle Market Report: Trends, Forecast and Competitive Analysis came in even bolder with their predictions. Concluding that "the Global Electric Bicycle Market is expected to reach an estimated $21 Billion by 2024 with a CAGR of 12.5% from 2019 to 2024." The fact is that the value of Electric bike sales hit almost $15 billion US worldwide last year!

So enough with hyper accurate data… what is driving the discovery of the electric bike?

Granted electric bikes have many advantages for the early technology adopter over electric cars and trucks. For starters they are a fraction of the cost of a new electric vehicle, the latter often pricing out north of $45,000 USD

Rapidly evolving electric bike technology

Deloitte’s predictions above however, are mostly a performance indicator of rapidly evolving lithium-ion battery technologies, including increasing efficiencies in energy storage capability and production methods. These are lowering battery prices to where the everyday consumer, not just early adopters are seriously considering the inclusion of battery technology within their next vehicle purchase. Add to that the fact that an electric bike uses very little electric power compared to a four-wheeled electric vehicle and the popularity of the electric bike mode of transportation becomes clearer. Yes sales are off the chain for electric bikes, and they are succeeding without any kind of futuristic design. Unconquered vintage electric bikes are in fact, electric bikes based on vintage motorcycle designs from the early 1900s. The rider can choose the aid of an electric motor responding to his or her own pedal cadence, or go full throttle. Leveraging lithium-ion battery technology as in EVs each Unconquered Electric Cycle sports a standard 48V pack with 17AH! Unconquered Custom packs are far lighter than traditional lead-acid or nickel cadmium batteries which most electric bikes and vehicles incorporated right up until a few years ago. And the integration of this new technology has allowed us to eliminate the range anxiety previously associated with most electric vehicles.

Big cities love them some electric bikes!

Another big reason for the current ‘hockey stick’ trend in electric bike sales is that more and more people continue migrating towards urban centers. Electric bikes are proving far more useful to get around in our cities than traditional four wheeled vehicles. In fact one big advantage, other than shredding the gridlock during daily commutes is the no hassle and almost always free, e bike parking! You can park these vehicles on the sidewalk, and at 63lbs an Unconquered Custom Electric Cycle can be loaded into any elevator and parked inside the apartment for the evening! Combine that with the fact that there is no need for fuel, license, registration, insurance. Nor are there any carbon emissions to worry about during operation. Truly, only the simple joy of your next adventure awaits!

Driving an electric bike puts a smile on your face!

Much of the bump in new sales can also be attributed to word of mouth, in many ways consumers themselves are driving electric bikes sales. I mean, how many products do you know that (if) 100 people go on a test drive, all 100 return with huge smiles on their faces? Also, across the USA there are an increasing amount of government initiatives launched (daily it seems) aimed at promoting cycling. Many of these programs are driven by the obvious and numerous benefits of cycling to society. Some of the benefits offered by electric bikes are as follows – easy commuting, reduced congestion and carbon emissions, recreational joy riding, easy transportation of payloads, business opportunities for delivery and ride-sharing. The almost non-existent operational costs of riding an electric bike. Obvious environmental (green) benefits.

Associated health benefits of e bike ownership

A study released in 2018 by the National Institute for Transportation and Communities found that electric bikes appeal to a wider pool of riders than conventional bicycles, including older adults and those with physical limitations. Not to mention youth! One of the problems we have as a society is screen obsession, people are addicted, kids are screwing around with phones, and everyone seems to be binge-watching Netflix. Electric bikes are the gateway drug to get people outside again and become more active.

Electric bike infrastructure lagging

And once we have them outside, we need to provide these adopters with a safe place to ride and park their electric bikes. In Europe, where they have this the numbers of cyclists populating roadways are huge. And you’ll note that the dynamic range of climate/ temperature conditions between the north and south of Europe is no less extreme than here at home. Electric two-wheelers are taking Europe and Asia by storm and many countries are now creating the blueprint for what e-biking can look like while America is still beginning its electric bike revolution. Big cities like Los Angeles and Atlanta have a growing population of electric bikes on the streets, and the prospects of commuter adaptation seem promising. And an increasing number of other US cities have invested in their bike path infrastructure over the years but the U.S. still has a long way to go before being considered a "bicycle-friendly nation." If you want to see a real bicycle-friendly country, go to Denmark or Holland. While cities in the U.S. such as Boulder Colorado, and Madison Wisconsin are doing their part as the best cycling-friendly cities in the country.. Cities in Europe are still waaaaay ahead of the United States.
While electric bikes within the US may not be the juggernaut they are in some parts of the world. Deloitte accounting points out that bike sharing and continued population migration toward urban areas will force a steady increase in U.S. domestic electric bike sales.

Electric bike or motorcycle?

There's a controversy in some municipalities as to where the line is drawn between electric bikes, which require no registration, licence, insurance etc.. and motorcycles, which require a license. Some cities have legislation that limits how fast electric bikes can travel as ride-hailing companies like Uber and Lyft move in to offer solutions to congestion, bridging the gap between traditional bikes, electric bikes and cars. Many states have separated electric bike categories into 3 x classifications. It is important to note that all classifications are allowed in states and cities throughout the United States without the requirement of a license, registration or insurance.

Unconquered Custom Electric Cycles are categorized as Class 3 out of the factory as they come preprogrammed for 28 mph. But each Unconquered Custom can easily be programmed after purchase to satisfy either of the other (class 1, or class 2) categories.

In Los Angeles, private companies are peppering the streets and sidewalks with electric bicycles that can be rented by the minute to cut down on traffic.

In conclusion

Electric bikes can be a pivotal player in the future of transportation, but more advocacy needs to happen on behalf of the industry to drum up increased government support to build biking lanes etc. on public roads and public land. If you build them, they will come. If you give people a safe place to ride operate their electric bikes, they will come. As we see it, historically - first the disruptive technology arrives (in this case electric bikes) then the suitable environment follows. For instance, early roads weren't smooth enough for the first automobiles. Early cellular networks couldn't handle smartphone data. But with time, the world adapted to facilitate the latest promising technologies. We are now lucky enough to be faced with this new exciting, promising, disruptive technology.. Micro mobility from electric bikes! Delivered by highly efficient batteries and optimized electric motors. It's time to build a suitable environment to facilitate electric bike use. After all, it is the fastest and cheapest way to get a lot of people out of cars, reduce carbon emissions, and build better cities.

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