Accounting firm Deloitte says 300 million electric bikes will be out on the world's roads by 2023, which is 50 percent more than today.
The accounting firm Deloitte's annual technology, media, and telecommunications report predicts that, globally, 40 million e-bikes will be sold and about 300 million will be out on the world's roads by 2023
This prediction did not take into account the 2020 pandemic, which dramatically increased the sales of bicycles and E-Bikes. The lower price of battery and the advancement of lithium-ion battery technology helped reduce the price of E-Bikes making it more affordable. Between 2010 and 2019, battery prices dropped by 87 percent, according to BNEF, which also predicts that prices will fall another 50 percent by 2023.
Cheaper batteries will have a major impact on E-Bikes, making them more affordable and allowing those using their E-Bikes to commute to afford batteries with more capacity. Some business have already started using E-Bikes as a means of transportation, for example a landscaping company that uses E-Bikes with a trailer attachment that holds basic tools and a lawn mover. The compactness of the E-Bike and trailer allows the landscaper to travel easily in the city without worrying about parking and one way streets.
So what will this mean for us E-Bike builders? A significant increase of demand, in sales of new E-Bikes, retrofitting existing bicycles with hub motors or mid-drive motors and of course servicing batteries, motors and all the components that makes up an E-Bike.
As it stands today, majority of local bike companies do not service E-Bikes they don't sell. Which represents a huge population of E-Bikes. These E-Bikes owners have had to find alternative service centers far from where they live or endure long wait times for their service appointment. If you fast forward 3 years and increase the demand by at least 50%, we will need more E-Bike mechanics who are not only experts with repairing bicycles but also knowledgeable in advance electronics and battery systems. It's an exciting step forward for those already in the business of building E-Bikes but even more for those who have always been interested in electric vehicles. This is an opportunity to learn about building E-Bikes whether as a hobby or a potential business. Join our Facebook group today to share ideas and grow the community.