Market news | The epidemic has changed people's way of travel, and the global sales of electric bicycles have skyrocketed.
The epidemic situation gave birth to the development boom of the global electric bicycle industry.
During the epidemic prevention and control period, European people showed unprecedented interest in electric bicycles.
European regional governments have successively launched stimulus plans to buy electric bicycles. Coupled with the public's demand to replace public transportation, the sales of electric bicycles in various regions of Europe have doubled, and even there are shortages in many regions.
It is understood that about a dozen countries and regions, including France, Germany, Italy, the Netherlands, Austria, Belgium and so on, have started corresponding subsidy programs for electric bicycles, with the subsidy amount reaching hundreds of euros. The data shows that in May, Italians' willingness to buy electric bicycles increased by 9 times.
Electric bicycle companies are also favored by capital. Cowboy, a Belgian electric bicycle brand, completed Series B financing of USD 26 million in July this year. VanMoof, a Dutch start-up, completed the financing of $13.5 million and $40 million in May and September this year, respectively. With the help of capital, companies are constantly developing new electric bicycles to meet market demand.
According to VanMoof, during the COVID-19 epidemic, the company's revenue increased by 220% year-on-year, and the total sales of electric bicycles in the first four months of 2020 was more than the cumulative sales of bicycles in 2018 and 2019.
Experts in the European electric bicycle industry said that the sales volume of electric bicycles in Europe was 3.7 million in 2019, and it will increase by 23% in 2020. It is expected that the European electric bicycle market will maintain rapid development in the future, and the sales volume is expected to increase to 17 million in 2030.
Based on the consideration of road congestion and environmental pollution, many governments around the world are widening bicycle lanes and actively investing in bicycle infrastructure. Electric bicycles are changing the way people around the world travel.
China's electric bicycle market is also hot. Since the implementation of the new national standard, China's electric bicycle industry has ushered in a new round of reshuffle, with sales increasing instead of decreasing. In 2019, the sales volume of China's electric bicycle market reached 13 times that of 18 years, and the impact of epidemic situation accelerated the development of the industry. According to the data of the Ministry of Industry and Information Technology, in the first ten months of this year, the number of electric bicycles produced in China was 25.48 million, a year-on-year increase of 33.4%.
