Electric bicycle sales expected to climb to $10.8 billion in 2020
Electric bicycles are expected to generate $10.8 billion a year in worldwide revenue by 2020, up from $8.4 billion in 2013.
E-bicycles remain a small niche in North America. A new report by analysis firm Navigant Research credits Asian and European countries for sustaining the market so far.
Projected sales in China this year are about 28 million, 92% of the total world market. According to the report, growth of that country’s market is expected to slow because of a weakened economy, manufacturer consolidation and some supply-chain issues in lead-acid batteries. Excluding China, global sales are expected to reach 4 million in 2020, up from around 2.6 million this year. Read more...