Analyst Gleb Mytko Weighs in on E-bike Battery Fires

Cleveland OH, February 20, 2024 – According to Freedonia Group global analyst Gleb Mytko, the rise of e-bikes has been plagued by a variety of safety concerns, ranging from illegal modification to inferior components. In recent years, electric battery fires -- which in many instances have been deadly -- have become a major safety concern around the world. Government regulators and industry groups are beginning to respond.

Bike Europe, in an article E-bike fires unites US Congress in vote for battery safety legislation, discussed the issue. “The number of e-bike battery related fires in the city of New York has resulted in bipartisan support in Congress for legislation to develop standards for manufacturing lithium-ion batteries. According to safety experts this regulation is the only option to limit the number of e-bike fires. What do cycling organisations and the industry expect of this legislation?”

The Freedonia Group study Global E-Bikes shows that E-bike demand in the US increased nearly fourfold between 2017 and 2022, exceeding growth in many other major markets around the world. The US market also performed very well during the 2012-2017 period, although gains in absolute terms were significantly smaller. Advances in e-bike sales were supported by:

• an increase in the availability of e-bikes
• growing consumer awareness
• improvement in the quality of the e-bikes sold in the US, leading to a significant rise in prices
• consumers looking for alternative forms of transportation and new forms of recreation during the COVID-19 pandemic (product demand more than tripled between 2019 and 2022)  

Get more information about historical and forecast trends for the Global E-Bikes market in the study.

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