How Electric Bikes Stand Out in the Electric Vehicles Market

The growing popularity of e-bikes in Canada and worldwide has been in the spotlight recently. Media heralds a boom in their market, highlighting an increase in e-bike sales, their significant benefits over other electric vehicles, and the evidence in favor of electric bikes.

In fact, recent studies have placed e-bikes as the most popular form of electric transportation, leaving other EVs behind. They have become the key drivers of electromobility and the most attractive electric transportation. But how did this happen?

How do e-bikes stand out in the electric vehicle market today? Why is there an accelerating level of e-bike adoption?

We’ll answer all your questions through this article in light of evidence and statistics!

How Electric Bikes Stand Out in the Electric Vehicles Market

Until recently, the market penetration of electric bikes was limited by multiple factors. New electric cars by big giants like Tesla captured the media attention and the overall EV market. But now, electric bikes are witnessing an upward trend. The major reason for this shift in trend is the benefits e-bikes have over all other electric vehicles and the evidence that speaks in their favor.

Evidence is in Favor of E-Bikes

What would you take if you had to choose between an electric bike and an electric car?

The question seems confusing since both are EVs driven by electric motors and help reduce carbon emissions significantly. But a recent study by Deloitte went beyond this question and determined the motivations that put electric bikes at the top of consumers’ minds.

The Deloitte study was conducted in Germany, where 1,008 respondents indicated whether or not they used electric transport and, if so, what type. To this question, 18% of the participants said they traveled by electric bike. The remaining responded in the following manner: electric cars (7%), electric scooters (7%), electric scooters (3%), electric motorcycles (2%), and other means of individual electric mobility (1%).

In addition, when the participants were asked to rate the appeal of the different EVs on a scale of 1 to 4, they placed the e-bikes on top again. Electric bikes’ average score was ahead of all other modes of electric transportation.

The Deloitte study further determined why respondents chose e-bikes as the most attractive electric vehicle. For e-bikes, the main attributes were practicability (62%), an alternative to other vehicles (46%), durability (41%), and fun (37%). The study results align with reports, indicating an accelerating level of e-bike adoption.

Another recent study from a Canadian research firm indicated consumers’ perception of ebikes as the ideal substitute for other electric vehicles. The statistics show that the e-bike market will be valued at US$40.98 billion by 2030.

The U.S. statistics are no different and indicate the e-bike market to reach US$1.62 billion over the next few years. As more and more Americans are switching to electric two-wheelers bicycles, carbon emissions are also expected to reduce substantially.

Recent evidence shows the consumers’ perception of e-bikes and their role in electrical mobility. Now let’s discuss the role of the government in developing this perception about e-bikes.

The Role of Governments

Under the evidence in favor of electric bicycles, some countries have established fiscal incentives to encourage their citizens to adopt e-bikes. Some governments have even taken a much more aggressive stance focused on making users permanently switch from cars to electric bicycles. Here are some interesting cases:

Oslo, Norway

The government of the Scandinavian capital has been one of the pioneers in promoting a policy in favor of electric bicycles. Since 2016, the city has implemented programs to help its citizens cover the cost of electric bikes through a subsidy of approximately USD$600. Later, in 2017, a very similar program offered about $1,200 to help pay for electric cargo bikes (much more expensive).

British Columbia, Canada

Through the “Scrap-it,” the Canadian province government offers its citizens and companies the opportunity to receive a tax refund of US$840 and US$1,400 if they ditch their current cars in exchange for e-bikes. The government and the businesses participating in the program are financing these incentives.

The United States

In February 2021, the United States Congress approved the “E-Bike Act,” which proposes a tax refund equivalent to 30% of the value of a new electric bicycle purchase up to a maximum of US$1,500 (for a total cost of US$5,000). The law establishes that eligible e-bikes must cost less than US$8,000 and have a maximum speed of 45 km/h and a maximum voltage of 750 watts.

Electric Bike Popularity: Reasons Why E-Bikes are Ahead of other Electric Vehicles

E-Bikes are More Economical than Electric Cars

As discussed above, government programs in major countries have encouraged people to switch to e-bikes. All eligible bicycles that meet the maximum speed and maximum voltage requirements are considered the same as conventional bicycles and are tax-free or require only compulsory insurance. These governmental programs have influenced consumers and played a huge role in shaping their minds.

The Electric Bike Allows You to Pedal without Forcing

The first reason is its relaxing side. Many people would like to give up their cars or limit their use of public transport by switching to a bicycle. But not everyone has the physical condition to pedal daily, especially      commuters.

The electric bike allows you to move quickly and easily around big cities without getting too tired. Indeed, thanks to its engine, it is possible to travel long distances without pedaling too hard. Therefore, it is an ideal mode of transport for people who have somewhat long journeys or have difficulty pedaling (for example, the elderly or people with disabilities).

It is the best alternative for those who want to switch to “soft” mobility.

Involves Physical Activity

Among the main advantages of electric bicycles is that they allow you to easily climb terrain with a large unevenness. These bikes work with the help of a battery and electric motor. These bikes combine the advantages of a bicycle and a motorcycle.

In addition, by encouraging sports practice in people who are not used to exercise, e-bikes enable people to improve their lifestyle since it makes it possible to balance daily physical exercise with everyday mobility needs.

Battery Lasts Longer

An electric bike’s rechargeable battery can provide a range of up to 100 km or more, depending on the model, allowing you to reach destinations further afield without worrying about running out of power. With a single charge, most e-bikes can go up to 22-50 miles with relaxed pedaling.

Increased Safety

Some e-bikes have safety features, such as built-in lights and reflectors, which can help improve road visibility and increase safety.

Lower Environmental Impact

An electric bicycle does not produce exhaust gas emissions, making it more sustainable than other means of transportation. In addition, using an e-bike instead of an electric car also helps reduce traffic and congestion on the roads. With the increasing traffic in major cities and the increasing carbon emissions, the e-bike is the best option in facing these challenges.

Different E-Bike Models for Different Purposes

The largest electric bike brand in Canada is Seven Peaks which features multiple models of e-bikes. Their best and most popular model is the Seven Peaks Mulga power bike designed to ride like a utility. Besides commute e-bikes, there are off-road e-bikes, folding e-bikes, or even tandem e-bikes. Therefore, before making any purchase decision, it is important to define the use.

Other big names in the e-bike market are Yamaha eBikes, Scott, Ariel Rider, and Aventon, among others.

Surprisingly, the EV market leader, Tesla, is not among the top ten E-bike brands and is more focused on electric cars. But Elon Musk, the founder of Tesla, has recently introduced a new e-bike concept named Model B, with advanced accessories and features that make it the safest e-bike that warns the rider of any dangers in the surrounding. The Model B has LiDAR sensors on its front, side, and rear proximity, creating a protective bubble around the rider.

Conclusion!

The e-bike is indeed an ideal means of transport for people who want to move quickly and easily      while saving money and respecting the environment.

No wonder this electric vehicle has become mainstream. Its legal ‘agility’ is one of the greatest attractions of e-bikes allowing users to enjoy all the benefits of electrical mobility (enjoy assisted pedaling while using a clean, cheap means of transport with very low maintenance costs). View some of our Electric Bikes available for sale and shipping today.