Worldwide Bicycle and Electric Bicycle Market Overview
Trend

Worldwide Bicycle and Electric Bicycle Market Overview

The global increase in environmental consciousness has resulted in a shift for bicycles from primarily sporting and recreational roles to becoming popular modes of commuting. Notably, the rising adoption of electric bicycles is driven by factors such as an aging population, contributing to a significant upsurge in the global production of electric bicycles in recent years.
Published: Dec 21, 2023
Worldwide Bicycle and Electric Bicycle Market Overview

The COVID-19 pandemic has significantly altered commuting patterns in Europe and the United States, prompting governments to advocate for a shift from public transportation to bicycles. This shift is accompanied by the development of bicycle-friendly infrastructure, such as dedicated lanes. With government encouragement and subsidies, the market for bicycles is poised for continued growth, particularly in the electric bicycle segment.

The global bicycle industry is experiencing four major trends: lightweight design, electrification, intelligence and networking, and sharing and services. Electrification and networking are focal points for major bicycle manufacturers. Numerous startups have entered the bicycle networking sector, introducing various applications to offer tailored solutions for vehicle manufacturers. Lightweight design, sharing, and service represent the goals for component manufacturers and related service providers.

Electric bicycles are at the forefront of this growth trajectory. Sales, which stood at 3.7 million units in 2019, are projected to reach 17 million units by 2030. Despite the challenges posed by the pandemic, data from 2020 already indicates a 23% growth in the electric bicycle market. Government investments in new infrastructure and high-end electric bicycles are driving this surge in demand, with predictions suggesting annual sales could reach 10 million units by 2024.

Europe Market

In Europe, electric bicycles are gaining popularity, especially among an aging demographic. Major automotive manufacturers are actively entering the electric bicycle market, offering models suited for both commuting and recreational use. The European electric bicycle market is expected to become a major mainstream commodity, experiencing rapid growth with sales potentially reaching several million units.

The United States Market

Similarly, the North American market is witnessing a shift from traditional bicycles to electric bicycles. Sales are on an upward trajectory, with the North American electric bicycle market estimated to reach 2 million units by 2030. Electric bicycles already account for nearly 25% of the total market value and are anticipated to grow to 50% by 2030, reflecting their increasing importance in the industry.

Taiwan Market

Taiwan's bicycle industry is also capitalizing on the global electrification trend. In 2018, the export volume and export value of Taiwan's electric bicycles experienced significant growth. The country has the potential to develop high-value-added electric bicycles, offering comprehensive solutions for diverse demand scenarios. Taiwan's bicycle industry is strategically positioning itself by integrating key components and systems into vehicle platforms, enhancing its competitiveness in the international market.

Published by Dec 21, 2023 Source: bike-eu, Source :energytrend

Further reading

You might also be interested in ...

Headline
Trend
Grinding Robots and Human Machine Collaboration
The integration of robotics into grinding processes can greatly transform traditional manufacturing into dynamic environments where human workers and robots collaborate seamlessly. While robotics offers precision, consistency, and efficiency, skilled operators are essential for the efficient operation of advanced grinding machines. Training programs are important to provide hands-on education, certification, and expertise in setup, operation, and troubleshooting for optimal performance.
Headline
Trend
Keyless Digital Electronic Door Locks: The Evolution of Security
We've all had the experience of returning home with our hands full, juggling packages while fumbling for keys. However, there are innovative solutions that prevent this predicament by eliminating the need for traditional keys. Keyless digital electronic door locks utilize a variety of technologies to provide secure, flexible access control without the traditional key. Advanced technologies that use various forms of authentication, such as codes, biometrics, and smartphones, not only streamline your entry process but also enhance the security of your home.
Headline
Trend
Refining the Essence: Three Fundamental Pillars of Smart Industrial Manufacturing
The conventional manufacturing sector stands at a crossroads necessitating a shift towards intelligent transformation. By incorporating advanced production technologies, a new era of industrial development is inaugurated.
Headline
Trend
The Role of Artificial Intelligence in Autonomous Vehicles
Utilizing machine learning and neural networks, artificial intelligence (AI) plays a crucial role in enabling the autonomous operation of self-driving cars. These vehicles leverage a combination of sensors, cameras, radar, and AI to navigate between destinations without the need for human intervention. For a car to be considered fully autonomous, it should demonstrate the capability to independently navigate predetermined routes without human input, even on roads that have not been specifically modified for autonomous vehicle use.
Headline
Trend
Opportunities and Trends in the Application of 5G in Smart Grids
In recent years, developed nations have initiated comprehensive power grid upgrade initiatives. In line with its commitment to energy conservation and carbon reduction policies, Taiwan has advanced the implementation of Automated Metering Infrastructure (AMI) as part of its national energy-saving strategy. The plan encompasses the integration of 4G/5G and other communication industries. The noteworthy progress in the development and integration of smart grid applications with 5G communication technology represents a significant industrial advancement deserving of attention.
Headline
Trend
Confronting the Era of Digital Advancement, Facial Recognition Technology Has Enhanced
Recently, there has been widespread discussion about Artificial Intelligence, Machine Learning, Deep Learning, and Big Data. These technologies find application in various domains such as the financial industry, logistics, business analysis, unmanned vehicles, computer vision, natural language processing, and more, permeating every facet of daily life.
Headline
Trend
The Arrival of 5G Technology Marks a Shift in Business Transformation, Redefining Innovations in the Manufacturing Sector
5G is recognized as a key enabler of Industry 4.0. With its high network speed and low power consumption, 5G facilitates the connectivity of every sensor in the upcoming unmanned factory to the cloud. This connectivity allows for the extraction of data for analysis, ultimately fueling advancements in artificial intelligence.
Headline
Trend
How Can Humans Collaborate with Robots in a Work Environment?
The integration of collaborative robots into production has become a pivotal element in the manufacturing chain, enhancing overall production efficiency. These compact collaborative industrial robots are designed to operate in confined spaces, addressing challenges posed by limited working spaces.
Headline
Trend
Can 3D Printing Be Applied in the Die and Mold Industry?
As the utilization of 3D printing expands across the broader spectrum of industrial manufacturing, the significance of this technology extends beyond its role as a rapid prototyping tool. This article provides an overview of the applications of 3D printing in the fabrication of molds and dies for processes such as injection molding and die casting.
Headline
Trend
Tooling 4.0: Bridging Industry 4.0 with Mold Manufacturing for the Future
Are you familiar with the latest terminology related to Tooling 4.0? In this article, we'll offer an overview and examples that can help manufacturers understand and align with this evolving concept. Tooling 4.0 revolves around leveraging technology to transform 'inefficient' products into 'intelligent' ones.
Headline
Trend
Industry 4.0 Propels the Global Industrial Market Towards Automation
In the present day, conventional industries are blending Internet of Things technology to drive the evolution of Industry 4.0 and the advancement of smart manufacturing.
Headline
Trend
The Essence of Additive Manufacturing
Additive manufacturing is playing an increasingly important role in the manufacturing industry and is mainly used in toolmaking and prototype construction.
Agree