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Global Revenue From Electric Bicycles To Reach $10.8 Billion By 2020

The electric bicycle industry has seen some of its greatest success in Asian countries. However, thit industry is still in its infancy in the rest of the world. As it grows, according to a report from Navigant Research, international revenue from electric bicycles should attain $10.8 billion by 2020. Image Credit: Vidar via Flicker. Image Credit: Vidar via Flicker. $2.6 billion of e-bicycle are expected for 2013. The improving lithium-ion family of battery technologies is helping with their relatively light weight, compact size, and ability to discharge energy quickly. Their light weight makes the bicycles easier to handle, hence increasing safety. Lithium-ion batteries have the potential to last longer than lead-acid batteries, as well. “Growing urbanization is contributing to traffic snarls on city streets in many countries, and pushing people toward other options,” says Dave Hurst, principal research analyst with Navigant Research. “The aging global population is seen by many as one driver of e-bicycles’ popularity, but the fact is that more young people are choosing them as well.”
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