In 2020, e-bike sales are projected to decline to just over 23 million units because of the global COVID-19 pandemic, which already has disrupted e-bike supply chains; shuttered many retailers; and led to a massive drop in consumer spending.
Advances at the world level will be greatly restrained by subpar gains in China, which accounted for 76% of 2019 sales. China has more limited growth prospects going forward because of the large number of e-bikes already in use in the country and rising motor vehicle ownership rates. Additionally, internal combustion engine motorcycles, scooters, and mopeds remain popular.
Outside of China, e-bike demand is projected to grow 8.5% annually, more than double the average global rate. Multiple trends are expected to fuel growth, including: