Market Insights | The booming overseas e-Bike market
Since the second quarter of this year, the epidemic, isolation, poor logistics, production suspension, store closures, and quality inspections have come one after another, constantly testing the electric vehicle industry. In the face of this seemingly endless epidemic, employees in the electric vehicle industry, from the bosses of production companies to the employees of dealerships, will inevitably have a certain degree of anxiety and anxiety. However, while you are patiently patient and waiting for the recovery of the domestic market, don't forget to actively pay attention to new trends and opportunities. Today, we will jump out of the domestic box and take a look at the business opportunities in the subdivision of e-Bike, the most popular electric moped in the overseas market in the past two years.Data from the Chinese Bureau of Statistics shows that China will export 69.26 million bicycles in 2021, an increase of 15% from 60.29 million in 2020. Among them, the export volume of electric mopeds e-Bike, according to incomplete statistics, is about 2.5 million units, an increase of about 25% compared with 2020, and only accounts for about 3.6% of the export volume of bicycles.
The growth rate of e-Bike demand in Europe and the United States is astonishing. According to data released by the American Light Electric Vehicle Association LEVA, the United States will import nearly 790,000 e-Bikes in 2021, a 70% increase from 460,000 in 2020. According to NPD, another market research company in the United States, about 900,000 e-Bikes will be sold in the United States in 2021, and sales are expected to exceed 4.8 million by 2025, with an annual growth rate of more than 50%. In Europe, e-Bike sales reached 4.7 million in 2020, an increase of 38% from 3.4 million in 2019. According to the forecast of CONEBI, WEF and CIE, the European e-Bike market size is expected to exceed 12 million vehicles per year in 2025. The penetration rate of new bicycle electrification will exceed 50%, that is, for every two bicycles sold, one is electric-assisted.
Who will supply these e-Bike increments in Europe and the United States? Undoubtedly, the major ones must be Chinese bicycle and electric vehicle manufacturers, and a small part will be supplied by local manufacturers in Europe and the United States, although most of the spare parts should also be imported from China.
What needs to be highlighted here is that the opportunities mentioned above are only the electrification of bicycles, and they are only limited to the European and American markets. The electrification of motorcycles, as well as markets other than Europe and the United States (such as Southeast Asia, India, South America, etc.), are not within the scope of our discussion. Because the technical issues, compliance issues, and geographical adaptability issues involved are much more complicated than e-Bike, its popularity and market growth are not as good as e-Bike. Today we only focus on the electric-assist bike, the e-Bike.
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