Conference Panel: Perspectives on the Electric Bicycle and Micro-Mobility Sector

A Confluence of Demand Drivers

Hage highlighted four macro trends that are influencing consumers to turn to e-bikes. “People are focused on health and wellness. They’re looking for outdoor experiences. There’s a desire for green living in a cleaner environment… and there’s a need for more mobility options as well as a willingness to invest in infrastructure.”

Global Trend, With Europe Leading

The e-bike market is growing in markets across the globe. Specialized is seeing growth in the U.S. and Europe “pacing around 10-15%,” said Margevicius.

A Very Green Footprint

“E-bikes get 1,600 miles per gallon, energy equivalent. A traditional car, maybe 25-30 miles per gallon… an electric car about the same size, about 100 miles per gallon. Equivalent electric bikes are 16 times more energy efficient than an electric car,” said Radenbaugh, highlighting e-bikes’ potential in a world of increasing calls for decarbonization.

Evolving Demographics

Carlier observed, “I believe e-bikes is the first trend ever that started with older people and then slowly converted to younger people.” Hage agreed and highlighted new findings from a recent National Bicycle Dealers Association (NBDA) report: “We are absolutely trending much younger than what we saw maybe 3-5 years ago. Sixty-three percent of e-bike riders are now between the ages of 25-44. It used to be 60+ more.”

Protecting the Investments

Industry leaders are mindful of the cost of an e-bike. “We have to work together to try and keep the prices within a reasonable price range so that people can afford [an e-bike] and they understand and appreciate the value of it,” said Margevicius. “The fastest-growing segment is the mobility segment with prices between [about] $1,500 to $3,000,” said Hage, highlighting the demand at more modest price points.

Carlier called out a corollary to this growing demand: “If the [e-bikes] sector is becoming more popular, we’ll also become more popular with bike thieves. In order to keep on growing, we have to solve bike theft… I think that’s the future because people won’t buy a $1,500-5,000 e-bike and just park it on the street.”