27 Mar '12, 6pm

Annual Sales of Electric Bicycles to Surpass 47 Million by 2018

Annual Sales of Electric Bicycles to Surpass 47 Million by 2018

Electric bikes are too often overlooked when people look for green ways to get around, and that's a real shame, because they are absolutely great. Thanks to their electric motors that assist the rider, they can make bike-commuting more accessible to people living in hilly area, or people with longer commutes, or those with physical problems that make regular bikes too difficult to use.According to a new report from Pike Research, "the worldwide market for e-bicycles will increase at a compound annual growth rate of 7.5% between 2012 and 2018, resulting in global sales of more than 47 million vehicles in 2018. China is anticipated to account for 42 million of these e-bicycles that year, giving it 89% of the total world market. The e-bicycle market is anticipated to generate $6.9 billion in worldwide revenue in 2012, growing to $11.9 billion in 2018." The graph above is a bi...

Full article: http://www.treehugger.com/bikes/annual-sales-electric-bic...

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