E-bikes are one of those few purchases for outdoor activities that did not taper off from its post-COVID boom, where sales of e-bikes continue to grow at an annual CAGR at 9.6%, and the e-bike market that was valued at 17.56 billion in 2021 is projected to reach 41 billion by 2030 (Precedence Research).
Perhaps even more shocking is that those figures only account for sales of e-bikes and do not include the electric conversion kit market. According to ResearchAndMarkets, the trend of converting regular bikes into electric ones is growing rapidly, where the global electric conversion kit market is expected to grow at an even higher CAGR than the sale of e-bikes at 10.7% over the next 5-10 years.
Not only are sales of conversation kits rapidly increasing, there is a considerable amount of new consumer buzz in this space, where we see more and more online communities and forums dedicated to electric bike conversions and maintenance, where enthusiasts are sharing information and advice on the process.