American Electric Bicycle Market
The global electric bicycle market is growing. The global sales volume in 2015 is estimated to be 32 million units, and it is expected to reach 100 million units by 2035. Most of the sales are in Asia, while more than 200 million units are in operation in Mainland China. Market research institutions predict that the global market will reach US$11.9 billion in 2025 and will gradually grow.
Many important factors are affecting the growth of the global electric bicycle market, including government restrictions on the displacement of vehicles, more choices of environmentally friendly vehicles, and the continuous increase in global oil prices.
Although consumers can get a wider selection of electric bicycles through professional bicycle shops, online and other retail stores, generally speaking, the US electric bicycle market is still in the development stage, with low local production, high costs, and a large area. The use of mainstream transportation has been hindered. Also, insufficient investment in infrastructure and lack of comprehensive policies and plans to promote bicycle riding and safety have affected the use of electric bicycles. Although cities like Portland, Oregon, have comprehensive and complete bicycle infrastructure, plans, and policies, the riding level has increased six times from 1990 to 2010, but how electric bicycles have always attracted more users and The problem of increasing its interest in using it has also been plagued by retailers.
However, these problems have been gradually resolved in recent years due to the promotion and trend of local American chambers of commerce, manufacturers and distributors. Although compared to the mature European environment, American electric bicycles are still in the early stages of development, but we can pay attention to the potential for future growth. Also, because of the impact of the US-China trade war, China's status as a bicycle supplier will be weakened to achieve a balance between supply and demand. , The United States will also actively look for other alternative manufacturers. Actual sales and imports in the U.S.
The amount is not easy to count. There is no detailed record of electric bicycles in the customs import records, and there is no corresponding HS code. The import declaration form only selects 8711 or 8712 other commodities, and even declares as parts or toys. There are quite a lot of names in the description of customs declaration products, such as Ebike, electric bicycle, low speed electric assisted bicycle, pedelec, etc.
Overview of the American Electric Bicycle Market
According to statistics from a global market research company, the US bicycle market has reached 5.9 billion U.S. dollars. The Independent Bicycle Dealer (IBD) is the most important bicycle sales channel in the United States, accounting for 52% of total sales. In 2018, US IBD bicycle sales (including electric bicycles) totaled US$1.112 billion (a 4% increase), and the number of sales was 2.07 million (a 10% decline). Electric bicycles are currently the fastest-growing type of bicycles in the US market. In 2018, sales amounted to USD 123 million (excluding other direct sales channels to consumers), a growth of 78%.
Analysis on the Market Scale and Import of Electric Bicycles in the United States
The United States has a vast territory, and cars are the main means of transportation. American consumers regard traditional bicycles as leisure sports tools. In the past, the acceptance of electric bicycles was not high. Most American residents use convenient cars as a means of transportation. Because cars are cheap in the United States, even families with poor financial means have cheap second-hand cars available. Therefore, the current sales volume of electric bicycles It is less than the European region, but there is a lot of room for promotion, and it is regarded as a region with great development potential by all parties.
The United States is currently at the beginning of the revolution of electric bicycles. At present, about 120 to 150 brands are actively promoting electric bicycles in the United States. Smelling this business opportunity, the US automobile industry is also planning to enter the market one after another, and listed bicycle companies have also increased their electric bicycle products significantly.
The Bicycle Product Suppliers Association (BPSA) and PeopleForBikes (PFB) in the United States have been promoting the unification of harmonized 3class regulations for electric bicycles in various states and have achieved considerable results. After implementation, the sales of electric bicycles in all states have doubled. Various factors will contribute to the take-off of the US electric bicycle market.
U.S. electric bicycle market size (value)
At this stage, the US electric bicycle market has many sales channels, and the overall sales volume statistics are not easy to complete. For example, according to market research companies, the market size in 2018 is about 123 million U.S. dollars. This figure is consistent with the sales data of the Bicycle Product Suppliers Association. Excluding other channels that cannot be counted directly to consumers (Consumer Direct) sales, if they are also included, it may double the size of the entire market.
For example, according to the data provided by the market research company QYR Research, the size of the U.S. electric bicycle market was US$343 million in 2018 and will reach US$2.064 billion by 2025. The compound annual growth rate from 2019 to 2025 is estimated to be 27.4%.
US electric bicycle market size (volume)
The size of the US electric bicycle market has increased from 192,000 units in 2014 to 317,000 units in 2018, and will reach 1.669 million units by 2025. It is estimated that the compound annual growth rate from 2019 to 2025 is 25.2%.
Currently, there are 120-150 active brands in the United States promoting and selling electric bicycles. Participants include the established Independent Bicycle Dealer (IBD), such as industry leaders Trek, Giant, and Specialized, which mainly sell products through independent stores, as well as Pedego, Major EBD brands such as Radsport and Stromer, bike sharing brands (such as Jump Bike) and other startups.
The president of American bicycle brand Trek pointed out that in the US retail channels, electric bicycles
The former accounted for more than 10% of total sales, and we can expect this number to reach 30% or higher in the future. Electric bicycles will have greater opportunities for growth than mountain bikes that have achieved great results in the late 1980s and early 1990s or carbon fiber road bikes in the early 21st century.
Because of the high import tariffs on the entire vehicle, the domestic manufacturing cost of electric bicycles is not cheap in the United States. Therefore, it is more economical to import components from overseas and ship them locally in the United States. Taiwan and China are the two major sources. According to QYR Research, the import volume reached 265,000 units in 2018 and is expected to reach 361,000 units in 2019.
The president of the American Light Electric Vehicle Association pointed out that the sales of electric bicycles increased in 2018 79%, brands and retailers have realized that electric bicycles are the main source of business profits. From the perspective of importers, there were 135 in 2016, and there are currently about 300 electric bicycle importers in the United States. This shows that more and more people are investing in the electric bicycle industry, or gradually importing electric bicycles to test the response of the US market. It is expected that the import volume of electric bicycles in the United States will grow by 20%-30% every year.
The actual sales and import amounts in the United States are not easy to count. The customs import records do not record electric bicycles in detail. The import declaration form only selects 8711 or 8712 for other types of goods, and even declares as parts or toys. There are quite a few names in the customs declaration, such as E-bike, electric bicycle, low speed electric assisted bicycle, pedelec, etc. The main importing countries of the United States are China, Taiwan, Germany, Vietnam and the Netherlands in order.
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