Deloitte Claims e-bikes to Dominate Electric Sales Next Decade

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【Summary】Forget about electric cars, e-bikes are expected to rack in 130 million sales between 2020 and 2023.

Original Vineeth Joel Patel    Jan 27, 2020 6:00 AM PT
Deloitte Claims e-bikes to Dominate Electric Sales Next Decade

Now that more automakers are getting on the electric-vehicle bandwagon, electric car sales are expected to skyrocket. With range increasing, more chargers coming out, and prices coming down, automakers have started to address the issues with EVs. 

Despite the advances in electric-vehicle batteries and charging infrastructure, electric cars won't dominate sales figures. Electric scooters won't, either. Instead, electric bicycles are set to become to most popular electrified forms of transportation in the near future.

Prepare For An e-bike Revolution

Electric bicycles haven't exactly been popular up until this point. The Verge claims that the electrified two-wheelers accounted for just 1.8 million units sold in Europe in 2013. In the U.S., that figure is a measly 185,000 units sold in the same year. But just like with electric cars, companies improved range, pricing, charging stations, and performance, making them more popular options for urbanites looking to get away from car ownership.

The changes have been so dramatic that more and more consumers have started to make the switch from pedaling themselves to choosing an e-bike that can handle some of the pedaling. In its annual technology, media, and telecommunications prediction, Deloitte claims that it expects 130 million e-bikes to be sold worldwide between 2020 and 2023. Furthermore, "the number of e-bikes on the roads will easily outpace other e-vehicles by the end of the year."

Forget about Tesla's new Cybertruck or Ford's upcoming electric pickup, electric bicycles are going to lead the way forward for EV sales. That figure dwarfs what analysts expect for EVs. The International Energy Agency's 2019 Global EV Outlook states that 12 million electric cars are expected to be sold in 2025.

e-bikes To Become More Popular

The increase for e-bikes is due to more than just technology. Deloitte also predicts that more individuals, at least in the U.S., will choose to bike to work in the next few years. From 2019 to 2022, the company believes there will be a 1 percent increase in the number of people that hang up their car keys for a bicycle helmet. More bikers means a larger market for e-bikes.

For commuters in the U.S., e-bikes will only appeal to those in urban areas. Why own a car when you can own an e-bike? And even with Deloitte's predictions, Europe and other global markets will carry the burden for sales. While sales of e-bikes have grown by eight times in the U.S. since 2014, reports the outlet, they still only make up a small portion of the total bicycle sales. 

So it's not like e-bikes will suddenly swarm the streets, as consumers look to trade in their human-operated bicycles for e-bikes. Still, e-bikes are another way of improving pollution in cities and reducing the dependence on fossil fuels.

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