Pike Research forecasts annual sales of electric bicycles to surpass 47M units by 2018; Li-ion battery share to climb to 12%
27 March 2012
Pike Research forecasts that the worldwide market for e-bicycles will grow at a compound annual growth rate (CAGR) of 7.4% between 2012 and 2018, resulting in global sales of 47.6 million vehicles in 2018, up form more than 30 million units in 2012. Under a more aggressive forecast scenario, worldwide e-bicycle sales could reach 51 million units and $13.2 billion revenue in 2018, Pike suggests.
Pike expects China to account for 42.4 million of these e-bicycles that year, giving it 89% of the total world market. Western Europe follows in second place with 1.5 million e-bicycles sold in 2018 and a CAGR of 11.8%. The North American market will be comparatively small with e-bicycle sales of 105,682 in 2012, growing to 342,526 units in 2018. By 2018, North American e-bicycle sales are expected to near their peak, according to Pike.