Electric Bikes Globally: Counting The Green Revolution

Electric bikes, or e-bikes, are motorized bicycles with an integrated electric motor used to assist propulsion. In 2023, there were an estimated 280 million e-bikes on roads worldwide, including electric mopeds, scooters, and motorcycles. The global e-bike market is projected to grow, with sales expected to reach approximately 49 million units by 2029, up from 42 million in 2023. This growth comes at the expense of regular bicycle sales, which are expected to drop. E-bikes are popular due to their low running costs, ease of use, and environmental benefits, contributing to a reduction in demand for oil and car emissions.

Electric bikes are reducing oil demand

Electric bikes are particularly effective at reducing oil demand for short trips, such as commuting, running errands, or dropping off children at school. In countries like Australia, electric bikes are increasingly being used for these short-hop trips, which often take the same amount of time or even less than a car journey. This shift to electric bikes for shorter distances is significant, as close to half of all commuter trips in Australia are under 10 kilometers, with 2.8 million daily car trips in Perth alone being less than 2 kilometers. Similar patterns are observed in other wealthy nations, such as the United States, where 60% of all car trips are under 10 kilometers.

The affordability and convenience of electric bikes make them a compelling alternative to traditional cars. In contrast to electric cars, which are often expensive to purchase, electric bikes are more accessible to a wider range of people. This affordability, combined with their ease of use for shorter distances, makes them a popular choice for those seeking a greener mode of transportation. As a result, electric bikes are being adopted at a faster rate than electric cars, particularly in regions where bikes and scooters are already prevalent modes of transportation.

The impact of electric bikes on oil demand is especially notable when compared to electric cars. While electric cars produce zero tailpipe emissions, they still contribute to congestion on the roads and require a significant amount of electricity to power them. Additionally, the manufacturing of electric car batteries can offset some of the environmental gains due to the extraction of rare earth elements. In contrast, electric bikes are more energy-efficient for transporting one or two people and have lower charging costs, making them a cost-effective and environmentally friendly option for short-distance travel.

The growing popularity of electric bikes and their impact on oil demand is expected to continue. As petrol prices rise and battery prices become more affordable, the running costs of electric vehicles will become even more advantageous. This trend is projected to contribute to a peak in global oil demand by 2028, after which it is expected to decline, according to the International Energy Agency. Therefore, electric bikes are playing a crucial role in reducing our reliance on oil and contributing to a more sustainable future.

Popularity and sales are rising

The global e-bike market is projected to grow in the coming years, with sales projected to reach over 49 million units worldwide by 2029. This is a substantial increase from the approximately 42 million units sold in 2023, reflecting the growing popularity of electric bicycles. This growth comes at the cost of regular bike sales, which are expected to drop. The e-bike market is tipped to generate around $51.78 billion by 2029, with a compound annual growth rate of around 8% between 2024 and 2029.

The COVID-19 pandemic fuelled a 27% year-on-year growth in 2020, and the market has continued to expand. By the end of 2023, nearly 5.2 million e-bikes were sold across Europe. Norway, Sweden, and Belgium are expected to see particularly strong growth in their e-bike markets, with Norway projected to achieve an annual growth rate of nearly 15% between 2024 and 2025.

In contrast, Japan's e-bike market experienced a slight decline in 2023, with sales dropping by about 53,000 units compared to the previous year. Despite this dip, e-bikes remain popular, and the sales value has continued to climb even in the face of reduced unit sales.

In Australia, electric bikes are rapidly going from a hobbyist pursuit to a serious mode of urban transport. Over 100,000 e-bikes were sold in Australia last year. The real value of e-bikes is in short-hop trips, such as the school run, or even the commute, where they take roughly the same time or shorter than a car.

E-bike usage worldwide has experienced rapid growth since 1998. China is the world's leading producer and manufacturer of e-bikes, with 22.2 million units produced in 2009 and 370,000 exported that year. In 2019, about 223,000 Chinese companies were in businesses related to the electric bike industry. By 2007, e-bikes were thought to make up 10 to 20% of all two-wheeled vehicles on the streets of many major Chinese cities.

They are cheaper to buy and run

Electric bikes are cheaper to buy and run than traditional cars. In Australia, for instance, the average car travels 12,000 km per year, costing about A$1,820 in fuel and $910 in maintenance, for a total of $2,730. By contrast, charging an electric bike for the same distance would cost around $480, with maintenance of $240, bringing the total to $720.

The main factor that makes an electric bike more expensive than a traditional bike is the addition of a motor and battery. However, electric bikes are still generally cheaper to buy than cars, and they are more cost-effective to run. If you commute on an e-bike 20 km a day, five days a week, your charging cost would be about $20 annually. This is far cheaper than the cost of fuel for the average car.

While more powerful motors and higher-capacity batteries tend to cost more, increasing the price of the bike, if you don't need to travel up steep hills or long distances, an e-bike with a lower-power motor and smaller battery might be all you need. The cheaper the bike, the cheaper the quality of the parts, but this doesn't mean that the bike will be unsafe or uncomfortable. It just means that the designers included lower-level parts where they could without sacrificing safety, while putting the money into features like hydraulic disc brakes, decent tires, and a reliable e-system.

Electric bikes are also a good option if you want to reduce your reliance on other transport without feeling like you've done an intense workout. The e-bike's motor assists as you pedal, reducing the intensity of your rides. So, if you want to cycle to work or into town to pick up groceries, an e-bike is a good option.

E-bike safety is a concern

Electric bikes have become increasingly popular in recent years, with an estimated 280 million electric bikes and mopeds on roads worldwide. This surge in popularity is largely driven by their convenience, eco-friendliness, and cost-effectiveness compared to traditional cars. However, as the presence of e-bikes on roads and bike paths continues to grow, so do concerns about their safety.

Studies and hospital data indicate a rise in accidents and injuries involving e-bikes. From 2017 to 2022, hospitals in the United States reported a significant increase in e-bike-related injuries, with the number of injuries rising from 3,500 in 2017 to 24,400 in 2022. Trauma surgeons have expressed concerns about the types of injuries they are seeing, which include head injuries, orthopedic injuries, spine fractures, road rash, and skin abrasions.

The lack of standardized safety regulations for e-bikes has been identified as a contributing factor to the increase in accidents and injuries. For example, there is currently no unified legislation regarding power or speed limitations for e-bikes, and the use of safety gear, such as helmets, is not always mandated. Inconsistent or inadequate regulations can create confusion among riders and increase the risk of accidents and injuries.

Additionally, the batteries used in e-bikes have been a cause for concern. Lithium-ion batteries, commonly found in e-bikes, carry a risk of fire if they are abused, modified, or paired with incompatible charging equipment. In 2022, New York City experienced 219 fires related to e-bikes, resulting in injuries and fatalities. To address these safety concerns, lawmakers and fire safety experts have emphasized the importance of following best practices, such as using certified batteries and avoiding modifications.

To enhance e-bike safety, various states and cities have implemented education and training programs. These initiatives aim to educate riders about traffic rules, safety precautions, and the proper use of e-bikes. By improving rider knowledge and skills, these programs can help reduce the risk of accidents and injuries associated with e-bike use, making them a safer and more sustainable mode of transportation.

China is the world's leading producer

Electric bikes are growing in popularity, and it is estimated that there will be 300 million e-bikes in use globally by 2023. By 2024, annual sales could rise to 10 million, and by 2030, this figure could reach 17 million. This surge in demand is largely due to the cheaper running costs of electric bikes compared to traditional cars, as well as their environmental benefits.

The popularity of e-bikes in China is notable, with an estimated 10 to 20 percent of all two-wheeled vehicles on the streets of major Chinese cities being e-bikes back in 2007. This trend has likely continued to grow, with e-bikes providing a cost-effective and environmentally friendly mode of transportation for many people. The Chinese government's regulatory policies and standards for e-bikes, such as the 25 km/h speed limit, also contribute to their widespread adoption.

The rise of e-bikes in China and other nations has significantly impacted the demand for oil. With their staggering uptake, e-bikes are displacing four times as much demand for oil as all the world's electric cars. This impact is particularly pronounced in countries where mopeds are a common form of transport. The cheaper running costs of e-bikes compared to traditional cars, along with their ease of use and convenience, make them an attractive option for many individuals and contribute to their growing popularity worldwide.

Frequently asked questions