Electric Bikes achieve amazing sales worldwide

Electric bikes conquer not only the USA but also the whole world. The upward trajectory of their sales seems to have no end.

In several studies they confirm that electric bicycles are a key component of the transport of the future. According to the latest data the sales volume and revenue from the sales of electric bikes have taken off.

In fact, last year, electric bikes surpassed sales of electric and hybrid cars in the US.

The U.S. may surpass 1 million electric bike sales this year. The Light Electric Vehicle Association (LEVA) estimates that the U.S. introduced about 790,000 ebikes in 2021. This is a significant increase over the nearly 450,000 electric bikes introduced in 2020. While in 2019, that number accounted for nearly 250,000 electric bikes.

Ducati electric bike

For example, the largest electric bicycle company in the U.S., Rad Power Bikes, raised more than $300 million in funding. With this in mind, the U.S., it is very likely, will surpass 1 million sales of electric bicycles this year. According to Precedence Research, ebikes will outperform electric cars in sales in Europe as well within the current decade.

With this growth rate, the electric bicycle industry will become truly strong. More specifically, the global electric bicycle industry will reach a value of $40.98 billion by the end of the decade.

In addition, Asia is by far the largest electric bicycle market with tens of millions of sales of electric bicycles every year. Many high-quality electric bikes still cost several thousand dollars. However several companies now offer high-performance electric bikes at a price below $1,000.

As the technology becomes more accessible to wider segments of the public some companies have kept most of their models at low prices. While the electric bike market grew at an impressive pace before the COVID-19 pandemic, sales continue to grow.

Many have replaced the car and public transport with an ebike for their commute to and from work. While others choose them as a fun, healthy activity or as a new hobby.

Even more riders have discovered that ebikes can be effective in reducing travel costs. Some electric bike riders have completely replaced their cars.

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