Understanding the Global E Bike Market in 2023
Electric bikes are gaining so much popularity today. More and more people are becoming more environmentally conscious, at the same time, want to save more money. Companies pick up on the rising demand and develop e-bikes equipped with various technologies for different individuals.
It is predicted that 40 million units and around 130 million bikes will be sold between 2020 and 2023. Therefore, by this year, the total of e-bikes around the world is estimated to be around 300 million units, which is 50 per cent more compared to the global e-bike figure in 2019. (Precedence Research, 2023)
As we welcome a new year filled with optimism, every day e-bike manufacturers introduce new technologies to make their electric bikes stand out from the competition. Although it’s challenging to predict the future, we have come up with e-bike trends we will see this year, giving you something more to look forward to.
1. More Lightweight Electric Bikes
One of the most important factors to consider when buying an electric bike is its weight. Lightweight e-bikes are best because they use less energy and are more efficient, while heavier e-bikes are harder to pedal.
In 2023, it’s likely that we will see more lightweight e-bike models hitting the scene. Over the years, e-bike enthusiasts have continued to talk about how the weight of e-bikes needs to be reduced. (Redbull, 2020)
With ebike technologies currently being developed and used in manufacturing, lighter e-bikes can come this year. This can already be seen in 2022 when Trek Fuel Exe was launched in July throughout the e bike market, which represents the next generation of lightweight EMTBs. (Bikeradar, 2022)
2. E-Bike Batteries, LTOs, and Longer Range Advancements
Batteries play a fundamental role in the electric bike’s weight; as mentioned, we will see more lightweight e-bikes in 2023. Therefore, we are going to see technological innovation that will produce smaller, lighter e-Bike batteries with a bigger range available across the global ebike market.
For one, ZapBatt aims to bring their first-ever product, the lithium-titanate (LTO) battery pack, in the first quarter of this year. Although this e-bike battery isn’t the lightest, it will allow e-bike users to have a longer range.
The product is worth looking forward to because their proprietary system allows for batteries to be retrofitted to various motors with different voltages. Their initial offering with a 360 Wh battery at 9.5 pounds promises to deliver greater value over time because of efficiency and longevity. (Bicycle Retailer, 2022)
LTO batteries have long been used in military and industrial applications because they use nanocrystals on the anode surface, allowing for fast charging and fire resistance. With Artificial Intelligence (AI) and machine learning, LTO can be way better than lithium-ion batteries.
The use of AI to deliver LTO batteries to the e bike market and beyond is now happening. LTO batteries may be optimized using AI to leverage data points in real-time to help maximize the electric bike's performance and energy delivery.
3. Mass Adoption of Automatic Gearing Across the eBike Industry
Making electric bikes easier to use with lower maintenance is some of the goals that e-bike manufacturers aim for today to stay competitive in the global e bike market. The idea of automatic gears has been introduced and implemented in the past. In fact, there are already some auto-gearing systems out there, but they tend to be costlier.
In 2022, Lime invested $50 million in their next-gen electric bikes that featured two-speed automatically changing gears. (The Verge, 2022)
Then, there is Decathlon’s B’Twin Long Distance 920 E Connected, which is due in Spring this year and features an automatic transmission. This advanced e bike doesn’t need shifters or a derailleur, which means it doesn’t need maintenance at all. (InsideEVs, 2022)
Mass adoption of automatic gearing for e bikes may be here already, and we will probably see more of them at affordable prices soon enough.
4. More Cargo Electric Bicycles
In the past years, we have seen a range of cargo e-bikes; and in 2023, the category is only set to grow even more. Thanks to improvements in e bike technology, specifically in the motor and batteries, upcoming cargo electric bikes can carry more and travel greater distances on just a single charge.
Late last year, Renault Trucks announced that they would start manufacturing electric cargo bikes this year. The company will start to produce Kleuster’s Freegônes e-cargo bikes with up to 350kg of payload. (Move Electric, 2022)
It’s also likely that we will see lightweight e-cargo bikes this year. Take, for example, VELLO SUB’s e-cargo bikes that will be delivered in the autumn of 2023. The company will be releasing its lightest cargo electric bike this year, which could be a game-changer. (VELLO, 2022)
5. Three to Four Wheel Electric Vehicles
Indeed, the US e bike market is more difficult to infiltrate with electric bikes, specifically with something out of the ordinary—electric bikes that come with three or four wheels! Still, courage is what most manufacturers have today who are set to enter the US market with this type of electric bike.
The motivation is driven by sightings of such e-bikes, specifically the ones made by Eli. Eli, a California-based company, makes Neighborhood Electric Vehicles (NEVS). In essence, they are not e-bikes but micro-cars, but it fits into the category. NEVS may be driven legally on most roads, but you need a driver’s license, insurance, and registration before you do.
Three-wheelers may soon be on US roads this year as well as Nimbus has already opened pre-orders for their compact electric vehicle, the Nimbus One.
With that, Europe-based company Squad Mobility is set to hit the US market with its solar-powered micro-car, which is outfitted with solar panels on its roof.
6. More Electric Mountain Bikes (eMBTs)
Due to the increase in global demand for cycling worldwide in the past two years, there is one area that has shown significant growth is mountain biking with electric mountain bikes.
An analysis shows that it is expected that mountain biking and trekking will grow at ten percent from 2020-2027. (Precendence Research)
This year, we will also likely see more and better features for electric mountain bikes, such as wide bars, dropper posts, and more, that will all be integrated into the design of the bike. Additionally, we will also see new developments with networking and connectivity in eMTBs soon. In turn, this can help address challenges in urban mobility soon.
7. Electric Cargo Bikes for Commercial Use
2023 will be the year when more companies will move towards e-bikes for commercial purposes. Amazon is one of the latest to invest in electric bikes, and it seems like many are now following suit.
One of the reasons behind this is the rising fuel prices, environmental concerns and the threat of global recession today. As a result, more businesses will look for alternative ways to move goods and people around towns and cities.
Before 2023, the trend was already seen in grocery, food, and parcel, but healthcare and real estate companies have expressed their interest in using electric bikes.
8. More Innovations on Electric Cargo Bikes
Due to the increase in online shopping, there have been a spike in van journeys at 25 per cent. However, this is not totally a great thing because the emissions from the van can be harmful to the environment.
This is where e-cargo bikes come into the picture. According to a Dutch study, e-cargo bikes are an excellent alternative for around 20 percent deliveries. The reason is because they take up less space on the road and don’t emit greenhouse gases. Moreover, e-cargo bikes are cheaper and help reduce deliver times. (Forbes, 2018)
In fact, the Bicycle Association reported that as much as 30 percent of van deliveries could be shifted into e-bikes. (Bicycle Association, 2019)
It is also predicted that e-bikes can also support the gig economy, courier services, postal services, and delivery services. That said, e-cargo bikes will grow even further, that could replace millions of deliveries conducted by vans and vehicles in big cities.
9. More Environmentally-Conscious Approach to Manufacture E-Bikes
Making e-bikes more circular is here, and is bound to get even better this year and beyond. One electric bike brand that is taking that first step Netherlands-based Roetz that have found a way to reduce a million wasted bikes per year through an environmentally-conscious approach.
The company’s idea is simple, it allows customers to choose their first bike configuration and tweak it with updates. Their bikes are monitors via its smart nervous system, which alerts you to failures.
Dutchfiets is also another e-bike manufacturer that makes electric bikes from recycled and recyclable plastic.
10. Safer Ridership
With the increase of electric bike riders, 2023 and beyond will be the years that will see more rules and regulations that will encourage safer ridership.
Concerns are already being raised regarding transit systems, lanes and lights, specifically for e-bike riders. In the US, it will be helpful for people to be taught about the importance of renewable energy for a cleaner environment for this generation and the future.
The Continuous Growth of the Electric Bike Industry
Undoubtedly, the rapid development of the e bike industry is increasing at a supercharged pace. That said, we’re closer than ever to an electric future.
Make an even more conscious effort to travel this 2023, and ride sustainably with electric bikes. These upcoming electric bike technologies are worth the wait, and they’re going to be a life-changer.