If you’ve done a double take recently after seeing an otherwise unassuming cyclist fly past you or up a steep hill without the typical huffing and puffing, you’re not crazy. You’ve probably seen one of many electric bicycles in a quickly growing wave of e-bike adoption. And Giant’s massive...
It’s true that e-bike sales are growing faster than ever. But what makes the numbers even more dramatic is the fact that pedal bicycle sales are on a continuous decline.
Giant is one of the larger players in the electric bicycle market. In just the first half of the year, the Taiwanese company announced that it sold 290,00 electric bicycles. Now they are expecting to sell another 310,000 e-bikes by the end of the year, estimating that they’ll reach 600,000 units sold for all of 2019.
In fact, during a press briefing at the unveiling of the Yamaha Wabash electric gravel bike, Yamaha’s sales team shared some interesting industry data with Electrek. As it turns out, every single of category of bicycles is witnessing a year-over-year decline in sales – except for gravel bikes and electric bicycles. Which suddenly explains why Yamaha’s new Wabash debuted as an electric gravel bike.