InsideOutdoor | SUMMER 2022 27 ing awesome in terms of quality of the product, assembly, packaging and customer service,” said Benjamin. That seems like encouraging news for a physical retailer considering the e-bike opportunity without the resources to offer all the amenities of a true bike shop. And while the initial high cost of manufacturing e-bikes, along with returns and problems related to distribution, continue to hamper the market’s growth, the increasing demand is more than encouraging. Make no mistake, consumers’ first experiences with e-biking have been mostly positive, very positive. A survey of Brits by Bosch eBike Systems, for instance, found that 81 percent of e-bike owners surveyed said that their electric bike purchase was a good investment. And all the while, consumers have gained a solid understanding of all the benefits and bonuses that come when a little electricity is hooked into a bicycle. “Electric bikes are a flexible, versatile, eco-friendly, and a trendy mode of transport,” said analyst at Allied Market Research. “Consumers look up to them as an ideal substitute for scooters, smart cars and public transport.” E-bikes allow families and groups of different abilities to bike together. They extend the distance and shorten the time of bike trips. For commuters, e-bikes reduce gas expense, emissions and traffic congestion. And for those who need some encouragement, they can pedal-assist or enable healthy behavior. Fully aware of their ecological, health and cost benefits, governments around the world are offering incentives, promoting manufacturing and helping develop bicycle infrastructure, according to analysts at Triton Market Research. “The popularity of electric bicycles has significantly increased across every continent in response to design and performance gains as well as economic or environmental concerns,” they continued. In other words, the e-bike may be beyond its peak of over-inflated hype, now moving up toward its plateau of productivity. After triple digit growth in 2020 and 2021, analysts see annual growth rates slowing significantly throughout the rest of the decade. But global revenues still are expected to double during that time period. D2C’s apparent success so far, if nothing else, calls into question which channels and type of operations can come along for the ride. m Global E-Bike Market Size and Estimated Growth, $B Research Firm Previous Values Projected Values Future CAGR Triton Market Research $25.2B in 2021 $49.7B by 2028 10.12% through 2028 Allied Market Research $40.3B in 2019 $118.7B by 2030 10.5% through 2030 Precedence Research $17.6B in 2021 $40.9B in 2030 9.6% through 2030 Mordor Intelligence $27.2B in 2021 $54.5B by 2027 12.26 through 2027 Source: Company reports ACLYUPP4006 IN LOOKING FOR THE IDEAL RESUME, YOU’VE IGNORED THE IDEAL CANDIDATE. LEARN HOW TO FIND, TRAIN AND CULTIVATE A GREAT POOL OF UNTAPPED TALENT. ACLYUPP4006_Mag_HalfPgHrz_v1b.indd 2 8/28/14 10:44 AM
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