According to data, Germany has become the first country where e-bike sales surpass pedal bike sales.
German cycling brands like Canyon are increasing e-bike production across different price ranges and aiming to expand their presence in the United States. Last year, basketball legend LeBron James invested a significant amount through LRMR Ventures to support the expansion of Canyon Bicycles in the US.
Furthermore, German car manufacturers have taken notice of this trend. Luxury automakers Porsche and Audi have recently introduced e-bike models.
Unsurprisingly, these brands’ e-bikes are among the most expensive on the market.
According to Bicycling magazine, consumers in Germany are gradually transitioning from traditional cars to electric ones. And many are abandoning private automobiles entirely in favor of e-bikes. A study conducted by PWC predicts a decline of up to 25 percent in private vehicle ownership in Germany over the next five years.
Cycling Industry News states that e-bike sales in Germany have grown by 70 percent since 2019. This has resulted in e-bike sales revenue nearly doubling from €4 billion to €7.36 billion. The German Bicycle Industry Association reports a production of 1.72 million e-bikes in Germany in 2022.
In some segments of the German cycling industry, e-bikes have almost completely displaced conventional pedal bikes. Nearly 90 percent of all mountain bikes sold in Germany are e-bikes.
The growing popularity of e-bikes extends beyond Germany. The United States is seeing similar sales growth.
A report by the National Bicycle Dealers Association reveals that e-bike sales in the US exceeded $1.3 billion in 2022. This marked a 30 percent increase from the previous year. As states like Colorado introduce new e-bike rebates, sales growth should continue in the coming years.
With e-bikes now outselling pedal bikes in Germany, it’ll become harder for critics to argue that e-bikes are a threat to public safety.
Image Source: Top List Magazine, https://shorturl.at/bEV19