Madison, Wisconsin, converted its entire bike share fleet to ebikes in June. Worldwide, more than 130 million ebikes will be sold from 2020 to 2023, representing a value of $20 billion, according to a new report from the Technology, Media, and Telecommunications practice at Deloitte . The consulting and advisory firm also predicts that annual global ebike sales will reach 40 million units in 2023, far eclipsing the 12 million electric automobiles and trucks Deloitte is forecasting to be sold in 2025. Deloitte attributed the aggressive ebike growth forecast to recent strides in lithium-ion battery (LIB) technology, pricing, and power in the ebike market. “Although more than 80 percent of the ebikes sold each year were using heavy lead-acid batteries as recently as 2016, the falling price of much lighter LIBs has shifted the market. Over the entire four-year forecast period between 2020 and 2023, we expect about two-fifths of all ebikes sold globally to feature LIBs, with the proportion of LIB-powered ebikes starting out at about 25 percent in 2020, and rising to more than 60 percent in 2023,” study author Paul Lee wrote for Deloitte. Advancements in lithium-ion batteries have helped spur ebike sales growth, Deloitte posits. […]

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