E-bike Industry Struggles in North America

Shockwaves are reverberating through the e-bike industry in Canada and the United States after a year that saw several prominent brands declare bankruptcy or stop selling in the North American market, citing an inability to compete in an increasingly consolidated environment. Experts say changes that followed the industry’s unprecedented pandemic boom – from a rise in factory direct sales to rapidly evolving technology – have been devastating for independent brands.

Vancouver-based DOST Bikes, California-based Juiced Bikes and iGO Electric of Montreal all declared bankruptcy or went into receivership within roughly the past year. Even global brands such as Japanese motor sports giant Yamaha Motor Co. Ltd. and Swiss company Stromer recently announced they were pulling their e-bikes out of North America, citing a softened market. The speed and comfort of e-bikes set them apart from traditional bicycles, opening up the age-old mode of transport to a wider range of users. From delivery people to commuters, the resounding sentiment from most e-bike fans is it’s fun to go fast and the power assist makes long trips so much easier. In Canada, the federal standard for an e-bike’s maximum speed is 32 km/h, and range varies from about 50 to 100 kilometres. The pandemic saw e-bike sales soar, as consumers with extra time and pent-up energy splurged on devices to stay active outdoors. In 2022, the Canadian market was worth about $240-million, with about 70,000 e-bikes sold that year, according to Rize Bikes. By 2025, Rize estimates the market will reach $345-million, with more than 100,000 bikes sold annually. Prices range from $14,000 for a Stromer bike to $3,100 for an ENVO and just $600 on Amazon.com Inc. for a bike from an overseas manufacturer. But makers and retailers say the domestic industry is flatlinin

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