UK e-bike market en route to £2bn valuation by 2032

As the sector rapidly grows across Britain a new investment round has begun for one of the country’s leading startups, but some organisations are warning of an unfolding parking crisis. 

Research from Mintel has predicted huge expansion of the UK e-bike market, increasing in vale from £300million in 2022 to £2billion within the next eight years. Revenue has also climbed sharply, and is now on course for £3.4million this year, up from £750,000 in 2023. 

As a result of this, London-based startup Blike is now launching a £150,000 investment round to develop its unique technology. The company runs a subscription service for access to new and recycled electric bicycles, catering to both consumer and b2b markets – including through the Government’s Cycle to Work Scheme and organisational fleets such as the Central London Community Healthcare NHS Trust. 

‘At Blike, our mission is to make E-bikes accessible to everyone. We’re fuelling the E-bike revolution by empowering consumers with a wider selection, flexible options, and the chance to break down barriers to entry,’ said Blike CEO, Tim Carrigan. ‘This innovative approach, which focuses on affordability, choice, flexibility, and convenience, has driven significant growth since our launch two years ago. We’re on track for major revenue gains as we expand our B2C and B2B reach, getting more people on E-bikes and enjoying the benefits of green commuting, convenient transport, and pure two-wheeled fun.’ 

While expectations for sector growth are good news for companies such as Blike, a recent stunt on the streets of London looked to highlight the growing ‘parking crisis’ impacting engagement with the modality. The ‘optical illusion’ commissioned by Lime and designed by street artists 3D Joe and Max merges a non-ULEZ compliant 2007 Peugeot Boxer van with an urban green space and bike parking. The idea is to make the public think about what could happen if there were less cars and vans taking up parking spaces. 

An independent report by Steer identified 750 locations in which could supply 10,500 additional parking places for rental e-bikes in the UK capital. It is believed that 10million emission-free journeys are ‘missed’ due to a lack of adequate parking provision. Nevertheless, almost have of Londoners aged 18-34 now use a rental e-bike at least once a week, although cars still dominate streets – 29% of drivers are forced to leave their cars at a roadside parking spot when not in use, and 35% of those in the study admitted to relying on cars for journeys of under one mile. 

‘Demand for cycling, including Lime e-bikes, has skyrocketed in the last year, with more people opting for emission-free travel,’ said Hal Stevenson, Director of Policy for UK&I at Lime. ‘This growth has come with unintended challenges, and it’s become clear that lack of parking is leading to overcrowded areas that can become obstructive for pedestrians. The report by Steer and Centre for London makes a number of clear recommendations to address this, which Lime is committed to taking.’

More on transport:

Shared transport investigation invites disabled views on bikes and escooter schemes

Which countries in Europe have the most EV drivers?

Cambridge welcomes three autonomous electric buses

Images: Blike (top) / Lime (bottom)



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