The imports from China of 25km/h – 250W e-bikes into the European Union increased by close to 85 percent in the first half of 2018, according to Eurostat data. Despite all measures initiated by the European Commission in connection with the anti-dumping proceedings, of which the first were announced on 20 October 2017, the e-bike imports from China are still booming. Other countries like the USA and Australia are also heavily sourcing e-bikes from China.
What is an Electric Bike-
Electric bicycles (or e-bikes) contain integrated electric motors that can be used for propulsion. E-bikes use rechargeable batteries that can travel up to 25 to 32 km/h, depending on the country’s government regulation. Electric bikes are classified on the basis of the power of electric motor on which they run. Peddle assist, throttle on demand, speed pedelec and electric moped or motorcycle are the different categories of electric bikes. Electric bikes majorly use Li-ion chargeable battery and they have a range of maximum 99.4 miles (160 km) in one single charge. These bicycles are available with battery type of either 8, 12 or 18-amp hour batteries.
The Growing Global Demand of Electric Bike-
Electric hybrid bikes are a great choice if you want to commute, or if you want to ride the local trails. These bikes really are ideal for commuting purposes, as they are strong enough to withstand potholes and carry your luggage. In China, there are thousands of great electric bike manufacturers if you’re sourcing from China. From a business perspective, the e-bike industry is a thriving industry all across the globe. The growing environmental issues along with the climate-conscious consumer base will hugely drive the e-bike sector.
Following are the Major Factors Driving the Growth of E-Bike Market-
- Increasing concerns about traffic congestion
- Rising fuel prices
- Trends relating to smart transportation and maintaining a healthy lifestyle
- Rapid urbanization
- Government initiatives to reduce emission levels
- The growth of the bicycle tourism industry
Expected Market Value of Electric Bike-
The global electric bikes industry has been witnessing bright opportunities, owing to government support and strict rules in favor of electric bikes. According to QY Research’s latest report, the global Electric Bike market is valued at US$ 6900 Mn in 2017 and is expected to reach at US$ 8410 Mn by 2025 end, expanding at a CAGR of 2.5% throughout the forecasted period.
Electric bike sales have grown far faster than the sales of any other mode of transportation worldwide. As an importer of the China-made items, you can greatly enhance the bottom line of your business by sourcing high-tech electronic bikes from China.