Market Trends of north america e-bike Industry
The US leads with a robust increase in e-bike adoption, reflecting a significant shift towards eco-friendly transportation.
- The North American region is witnessing a significant demand for e-bicycles. Rising fuel prices, highly dense traffic conditions, and health concerns are some of the factors responsible for the increasing adoption of e-bikes across North American countries. The United States accounts for the highest sales of e-bikes. The country witnessed a higher adoption rate in 2018 compared to other countries like Canada and Mexico. The rising demand for e-bikes accelerated their adoption rate by 2.3% across North America in 2018.
- North America witnessed a rapid change in the demand for e-bikes in 2020. The region accounted for the highest adoption rate of e-bikes in 2020. The pandemic had a positive impact on the adoption rate of bicycles, including e-bikes. In 2020, people opted for more personal rides and developed exercising habits, which had a positive impact on the bicycle market. Owing to these factors, the region witnessed an adoption rate of 3.1% in 2020.
- The interest of consumers in e-bicycles is growing tremendously across North America. The launch of new models with updated technologies by various companies across the region is attracting consumers toward e-bikes. In March 2022, the two-wheeler manufacturer, Yamaha, introduced new e-bikes, Wabash RT Gravel Adventure Model and CrossCore RC Fitness Commuter, in the United States. Both the models are equipped with 500-watt-hour lithium-ion batteries with speed support of 28 mph, and they have class-3 pedal-assist features. Such new launches are expected to enhance the adoption of e-bikes in North America during the forecast period.
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A consistent upward trajectory in the population commuting 5-15 km, led by the US, highlights a shift towards moderate commuting distances.
- North America comprises various bicycle-oriented countries like the United States, Canada, and Mexico. The demand for bicycles in these countries has increased over the recent years. People in various countries across North America are gradually shifting to using bicycles to go to nearby places like offices, business areas, and malls. The United States has the highest number of daily commuters who travel between 5 km and 15 km.
- After the COVID-19 outbreak, which led to the closure of gyms and public transit across North America, various people found bicycles to be a safe and socially isolated mode of transportation. During the pandemic, people chose to exercise through cycling or going for weekend recreational runs to nearby locations. These factors increased the number of commuters who traveled between 5 kilometers and 15 kilometers by more than 1% in 2020. The launch of e-bikes with advanced battery packs for providing an enhanced range of up to 40-45 kilometers attracted consumers who travel a distance of 5-15 kilometers daily.
- Relaxation of the COVID-19-related restrictions opened up offices and businesses across North America. Many people now commute by bicycle to their places of employment and other areas. The popularity of bicycle-based commuting is increasing due to health benefits, carbon-free journeys, fuel savings, and time savings in packed countries like the United States and Mexico. Such factors are expected to accelerate bicycle journeys across North America during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Overall, North America's bicycle sales demonstrate resilience with gradual growth, indicating a sustained interest in cycling across the region.
- The US shows a gradual inflation rate decrease, while Canada maintains stability and Mexico experiences heightened fluctuations.
- The E-Bike battery price trend in the US significantly influences the regional average, with a steady decrease over time.
- The US shows a notable increase, leading the North American region in expanding dedicated bicycle lanes.
- North America demonstrates a consistent decrease in battery charging time, with Mexico reducing more gradually compared to the US and Canada.
- The overall trend indicates a robust and growing economy across the region, with a short-term dip in 2020.
- The US leads the bicycle rental market with consistent growth, significantly influencing the overall regional trend.
- The US dominates the Hyper-Local Delivery market, exhibiting a rapid increase in volume, significantly impacting the regional trend.
- The United States leads North America in the number of bicycle trekkers, followed by Canada and Mexico, with a consistent growth trend.
- Mexico consistently shows the highest traffic congestion rates, while Canada has the lowest and most stable congestion levels among the three countries.
