11. A “ The global bicycles market is expected to grow at a steady pace in the near future. Growth is expected to arise from the increasing popularity of electric bicycles. China is the largest market for electric bicycles in the world and is expected to be the leader in the foreseeable future. The country accounts for a lion’s share of electric bicycles sold in major markets including Europe and the US. While exports to the US are in the form of complete units, exports to Europe are in the form of components that are assembled and sold under local brand names. Other potential markets include densely populated areas such as India and Africa.” April 10, 2008 Bike Europe “Website for Bike Professionals”