Why Will E-Bikes Rule the EV Sector in the Future?

Electric bikes, also known as e-bikes, are becoming popular day by day due to their numerous benefits over traditional bicycles, Cars, and other EVs. With the upsurge of electric vehicles (EVs) and increased environmental awareness, it’s no surprise that e-bikes are becoming more and more prevalent. In fact, many experts predict that e-bikes will become the top-selling EV by the end of this decade.

The main reason for this prediction is the convenience and versatility of e-bikes. Unlike traditional bicycles, ebikes have a motor and a battery that provide assistance to the rider. This allows riders to tackle hilly areas and headwinds with ease and reduces the amount of physical effort required to ride. This makes e-bikes more accessible to a wider range of people, including those who may not have been able to ride a traditional bike due to physical limitations or disabilities.

Nearly 1 million e-bikes were sold in Germany in 2018, and in 2019 nearly a million were sold in just the first half of the year, recording a growth of 36%. In the Netherlands, electric bikes made up more than half of all adult bicycle sales in 2018. In 2018, Spain sold 111,297 e-bikes at an average price of 2,165 euros, a 55 percent increase from the previous year. One survey found that 28% of people who purchased an e-bike did so to replace their current vehicles including cars, motor bikes and scooters. 

Another factor contributing to the predicted rise of e-bikes is the increasing demand for sustainable transportation options. E-bikes are a clean and environmentally friendly form of transportation that produce zero emissions. They are also more energy-efficient than traditional cars, which can use up to 20 times more energy per mile. This makes e-bikes a smart choice for people who want a sustainable alternative for traveling without leaving too much carbon footprint behind. Not just to traditional bicycles but e-bikes are giving a good competition to all other EVs. E-bike sales are anticipated to surpass 40 million units globally in 2023, bringing in nearly US$20 billion in revenue. While in 2025, only 12 million electric cars and trucks are anticipated to be sold. This also shows the growing popularity trend of e-bikes.

E-bikes are also relatively affordable compared to other EVs, such as electric cars. While the cost of e-bikes can vary, many models are available at a lower price point than electric cars, making them accessible to a wider range of consumers. A Tesla can cost you between $43,990 – $ 129,990, while you can get a good quality e-bike between $3000 – $8000. Additionally, e-bikes are generally easier to maintain and require less maintenance than electric cars. This allows the owners to save more money.

The growth of electric bikes is also being fuelled by advances in technology. E-bikes are becoming more advanced, with longer battery life, more powerful motors, and improved overall performance. On average, e-bikes give a speed of 22 kilometers per hour which is much higher than the 15 km per hour speed of a standard bicycle. As technology continues to advance, e-bikes are likely to become even more versatile and user-friendly. This will increase their attractiveness to a larger spectrum of customers, including people who may not have previously thought about purchasing an e-bike.

Uber, a transport giant, has also recognized the potential of e-bikes and is now looking to drive profits from the e-biking industry. Uber acquired the e-bike sharing company Jump in 2018. This resulted in a 15% increase in the trips of e-bike sharers. At the same time, the number of car and SUV trips decreased by 10%. This shows that the popularity of e-bikes is growing. The future prospects of e-bikes have also compelled companies like GM and Volkswagen to jump into e-bike manufacturing, and many other companies will do the same in the future.

In addition to the benefits of e-bikes themselves, the infrastructure supporting e-bikes is also improving. Many cities are investing in bike lanes and bike-share programs, making it easier and more convenient for people to ride e-bikes. London has spent millions of dollars on improving its cycling infrastructure. Because of the infrastructure development, bicycle trips in the city increased by 5% in 2018, totalling more than 4 million kilometers per day. This infrastructure development is also encouraging more people to adopt e-bikes as a form of transportation, as they provide a safe and accessible way to get around.

The Challenges

Range 

Despite the many benefits of e-bikes, there are some challenges that need to be addressed in order for them to become the top-selling EV in the coming years. One of these challenges is the limited range of e-bikes, which can make them less practical for longer trips. While advances in technology are helping to increase the range of e-bikes, there is still work to be done in this area.

Perception

Another challenge is the perception of e-bikes among some consumers. While many people see e-bikes as a convenient and environmentally friendly form of transportation, others view them as less authentic than traditional bikes. This perception can be a barrier to adoption for some people, and it will be important for the e-bike industry to work to change this perception. Some people believe that e-bikes do not do much good for health as traditional bicycles do. But this myth was also busted in a study that found that e-bikes owners are more active because they use e-bikes more frequently.

Price

One major challenge is the high cost of production, which makes e-bikes unaffordable for many consumers. When compared to traditional bicycles, e-bikes are priced very high. The high cost of batteries, which are an essential component of e-bikes, is a major contributor to this problem. But with time the prices will come down.

Rules & regulations

 There is a lack of standardization and regulations in the industry, leading to confusion among consumers and difficulties in comparing products. The laws regarding electric bikes also vary from state to state and country to country, leaving room for speculation in their legality and documentation requirements.

Infrastructure

Another challenge facing the e-bike industry is the lack of infrastructure and charging facilities, which makes it difficult for users to travel longer distances without running out of power. However, as the number of e-bike user increase, more steps will be taken to resolve the problems by manufacturers and governments around the world. 

On the whole, the future of e-bikes looks bright. With their numerous benefits and the growing demand for sustainable transportation options, e-bikes are poised to become the top-selling EV in the near future.