The electric bicycle market - UK

An E-bike is a bicycle equipped with an electric engine, in the UK, you can ride an electric bike if you're 14 or over, as long as it meets certain requirements. These electric bikes are known as "electrically assisted pedal cycles" (EAPCs). EAPCs must have pedals that can be used to propel it, a maximum power of 250 Watts and a top speed of under 15.5 mph.  The e-bike global market generated $49.7 bilion in revenue in 2022 and is expected to reach $80,6 bilion by 2027 growing at a CARG rate of 10.2%. In the UK, the market was valued at USD 0.24 bilion in 2021, and is expected to reach USD 0.44 by 2027. Growth will be driven by new customers coming in the bycicle market as well as existing customers switching from traditional to elettric bikes. Production is mainly located in China, where the cost of producing an elettic bike, thanks to the much higher avaiability of cheap workforce and prime materials, is lower. The export is mainly directed towards Irland, the USA, Singapore, the Netherlands and South Korea, while import of finisched bikes and materials in mainly from China, Cambodia, Bangladesh, Indonesia and the Netherlands. The demand in the UK is not as high as in other western countries. In fact, traditional bikes are also not widely used in the country, in 2021, they accounted for only 2% of the trips and 1% of the total distance travelled, but new tecnologies, the search of new ways to exercise, attention to mental health and efficiency benefits have the potential to drive the e-bike market upwards in the near future.