Cleantech Market Intelligence
Manufacturers Race to Bring E-Bike Wheels to Market
With the cost of fully electric bicycles still relatively high (on average $1,500-$2,500) in the United States, several manufacturers are looking to offer innovative new products at a lower price in order to attract consumers. One example is all-in-one e-bike retrofit wheels. For $1,000, you can pre-order the EVELO Omni Wheel (targeted shipping date of March 2015), which replaces the front wheel of a traditional bicycle to convert it into an e-bike.
With a maximum range of 25 miles, EVELO’s product contains a 350W motor and has a top speed of up to 20 mph. Similar products are available, though shipping dates vary slightly: the FlyKly Smart Wheel (estimated shipping time of 3 months) and the Copenhagen Wheel from Superpedestrian (expected ship date is spring 2015). At a cost of $1,099, the FlyKly is the least powerful of the three products, with a 250W motor and top speed of 16 mph. Developed at MIT, Superpedestrian’s Copenhagen Wheel is more comparable with the EVELO product, as it has the same motor power (350W) and top speed (20 mph), while coming in at a slightly lower price point than its competitors ($949).
Both the FlyKly and the Copenhagen replace the rear wheel of traditional bicycles, while EVELO’s retrofit kit replaces the front wheel. Generally, consumers prefer the rear hub placement, as it’s the most natural location to provide thrusting power. While all three products are likely to be delivered in a similar timeframe, FlyKly has been the first to market, with the other two competitors following closely behind.
The influx of new product offerings is a good sign for the U.S. e-bike market, as manufacturers are seeing strong interest from consumers. In fact, FlyKly has more than quadrupled its initial Kickstarter goal ($100,000 in funding) for its Smart Wheel product. The increased availability and affordability of product offerings, combined with urbanization and an aging population, is driving the growing acceptance of e-bikes as a means of personal transport, particularly in Western Europe and North America.
With three competitive all-in-one e-bike replacement wheels set to be available in 2015, it could be a big year for e-bike retrofit kit sales. For more information on e-bikes, see Navigant Research’s report, Electric Bicycles. Global annual sales of e-bikes are expected to exceed 40 million units a year by 2023, according to the report.