Bosch believe that the rapid evolution of the current electric bike market presents huge opportunities for retailers, manufacturers, logistics companies and the tourism sector.
Speaking to Cycling Industry News, Bosch said, “In just a few years we’ve gone from 40 to over 60 bicycle brands and as such believe we’re growing at a rate ahead of the market at the present time. Some markets are currently growing up to 30% – 40% annually. In the mid-term we expect that there will be countries with saturated markets and growth rates around 10% – 15%. Our range has been well accepted by the bicycle market and we certainly regard ourselves as an important driver in the eBike market.
“A few years ago the demographic was the older generation, but that’s coming down rapidly, the complete opposite to any other tech trend we know. The customers looking at these bikes are now in their 30s and the use is more versatile. Just a few years ago the attitude was very much, ‘I don’t need this’, but now it’s often ‘what could I use this for above and beyond my pedal bicycle’. The attitude has shifted and it’s become a plus one purchase, a training tool, or a bike for those late evening rides where time is limited.”
“The electric bike has demonstrated that it is less of a weather dependent purchase for the cyclist, so that’s great news for the bike industry. These are very often planned purchases, particularly if you’re a commuter or business, so there’s a lot less dropout when the weather turns bad. We expect cargo to become a big part of city-based trade as we move toward a new age in urban mobility. Tourism too can help drive fleet sales. Once people experience the ‘e-bike smile’ they generally embrace the potential change it could have on their lives and that can only be a good thing for the bicycle trade.”