What is the global market size of E-Bike Market?

Global E-Bike Market size was valued at USD 36825.19 million in 2021 and is poised to grow from USD 40664 million in 2022 to USD 89736 million by 2030, growing at a CAGR of 10.4% in the forecast period (2023-2030).

Who are the key vendors in the Global E-Bike Market?

One of the leading key players in this market is Accell Group. Around 3,100 people work for the company in 15 different countries. Additionally, the company sells its products to dealers and customers in more than 80 nations.Through its products such as the Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe, and Carqon, Accell enjoys a solid reputation as a brand in Europe. The company has been able to increase its market share thanks to these brands. 'Accell Group', ' Bosch ', ' Bafang Electric ', ' Giant Manufacturing ', ' Trek Bicycle ', ' Mahindra & Mahindra ', ' Pedego Electric Bikes ', ' Haibike ', ' M1 Sporttechnik ', ' Easy Motion Electric Bikes ', ' Yamaha Motor Corporation ', ' Prodecotech ', ' Stealth Electric Bikes ', ' F.I.V.E. Bianchi ', ' Specialized Bicycle Components ', ' BH Bikes ', ' Merida Industry ', ' Raleigh Electric ', ' Stromer Electric Bikes ', ' Gazelle Bikes ', 'In January 2022, Giant Bicycles announced a new collaboration with Team BikeExchange-Jayco, which will pave the way for the world's leading cycling brand return to professional road racing at the UCI World Tour level.', 'In July 2021, Pedego opened a new facility in Bethesda, Maryland, which offers a full range of e-bike sales, rentals, services, and accessories.'

What is the key driver of Global E-Bike Market?

Europe's Germany, France, and Spain, among others, have given cycling infrastructure development top priority and aim to increase annual investment to speed up the creation of a connected, safe bicycle network.This will support the numerous opportunities for bicycle infrastructure made possible by e-bikes and assist in reducing obstacles to cycling. As a result, expansion of the electric bike market will be fueled by increased policy support. E-bikes are quickly becoming a part of municipal bike sharing programs all over the world. Residents and tourists are using e-bikes more and more as a result of the demand for social distance and the need for more safe and accessible public transportation. Around 80% of Biki bike-sharing system users in Honolulu, Hawaii, stated that riding was the most preferred and safest form of public transportation. In 2019, the most recent year for which statistics were available, e-bikes were utilized in 28% of bike-sharing systems, as stated by the North American Bikeshare Association (NABSA).E-bikes were used 1.7 times more than conventional bikes, according to NABSA.For instance, in 2019, the entire bike-share fleet in Madison, Wisconsin, was replaced by electric models.

What is the key market trend for Global E-Bike Market?

Mountain biking has seen a significant rise in popularity as a result of the worldwide increase in demand for cycling over the past two years. According to an analysis, the market for mountain biking and trekking is expected to expand at a rate of 10% annually during the forecast period. The market for e-MTB is expected to expand at a phenomenal rate due to the rise in adventurous sports and tourism. The demand for eco-friendly modes of transportation is growing, and so is the demand for bicycles all over the world. This is primarily due to the numerous advantages of cycling, including lower CO2 emissions, lower air pollution, lower noise pollution compared to other modes of transportation, lower fuel costs, improved public health, less road congestion, and lower construction and maintenance costs for road infrastructure.

Which region accounted for the largest share in Global E-Bike Market?

The Asia Pacific dominated the global market (with China accounting for most of the e-bike market share), and it stood at USD 22.56 billion in 2021. The dominance of the market in this region is attributed to factors such as the extensive bicycle infrastructure in developed and developing nations, such as China and Japan, high vehicle and public transportation congestion, and the increasing stringency of emission regulations for gasoline motorcycles.

E-Bike Market Size, Share, Growth Analysis, By Class(Class I, Class II, and Class III), By Mode(Pedal Assist, and Throttle), By Component(Batteries, Electric Motors, Frames With Forks, Wheels), By Battery Type(Lead Acid, Lithium-Ion, Lithium-ion Polymer, and Others), By Motor Type(Hub Motor, and Mid Motor), By Ownership(Hub Motor and Mid Motor), By Usage(Shared and Personal), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25C2047 | Region: Global | Published Date: August, 2024
Pages: 242 | Tables: 90 | Figures: 78

E-Bike Market News

In November 2023, Giant Group unveiled their first throttle-embedded electric bike, the Cito E+. This new model also has a glovebox. This will be released under the organization’s Momentum sub-brand.
In March 2023, Bharat Forge Limited inaugurated their first e-bike factory at MIDC Chakan. The facility mainly emphasizes on focuses on assembling electric bicycles for Tork Motors Private Limited.
In November 2023, Mahindra & Mahindra announced an investment in the intelligent mobility solutions startup, Hornback. The company is introducing the X1, one of the first full-sized diamond frames folding electric bicycles.

E-Bike Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

E-Bike Market size was valued at USD 54.56 Billion in 2022 and is poised to grow from USD 60.51 Billion in 2023 to USD 138.44 Billion by 2031, growing at a CAGR of 10.9 % in the forecast period (2024-2031).

The market players in the global e-bike market are witnessing immense competition due to substantial investment for increasing performance of the e-bikes. It is also making the bikes comfortable customers. The investment in such e-bikes is increasing as it is becoming the preferred choice of customers compared to passenger cars and other private vehicles. Many prominent players have invested in the innovation of the e-bike drive unit to enhance its performance. 'Accell Group N.V. (Netherlands) ', 'Aima Technology Group Co., Ltd. (China) ', 'BH Bikes Europe (Spain) ', 'Derby Cycle Holding GmbH (Germany) ', 'Fuji-ta Bicycle Co., Ltd. (China) ', 'Giant Bicycles, Inc. (Taiwan) ', 'Harbin Rainbow Technology Co., Ltd. (China) ', 'Hero Eco Limited (United Kingdom) ', 'Jiangsu Xinri E-Vehicle Co., Ltd. (China) ', 'Mahindra & Mahindra Ltd. (India) ', 'Panasonic Corporation (Japan) ', 'Prodecotech (United States) ', 'Qingdao AUCMA Electric Bicycle Co., Ltd. (China) '

E-bikes offer a sustainable and eco-friendly substitute to traditional transportation. They produce zero emissions when operating, making them an appealing choice for eco-friendly consumers trying to minimize their carbon footprint. The increasing concerns about pollution and carbon emissions from conventional vehicles is also increasing the demand for e-bikes. Furthermore, innovations in e-bike technology, like enhanced battery life and motor efficiency, are making these bikes more accessible and attracting consumers.

As urban populations are constantly growing and cities are becoming more congested, opportunities for e-bike market are increasing. E-bikes provide a convenient and efficient mode of transportation for urban dwellers, enabling them to go through traffic rapidly and smoothly. Furthermore, several cities are investing in infrastructure for supporting cycling, like bike lanes and bike-sharing programs, driving the demand for electric bikes.

North America is dominating the e-bike market due to the increasing adoption of electric bikes for transporting goods from one location to another Furthermore, increasing fuel prices and traffic congestion in this region is also fueling the growth of the market. Cargo e-bikes provide a faster and greener substitute for conventional delivery vans or trucks, particularly for last-mile delivery, which is increasing in this region. E-bikes need very limited maintenance and have less electricity expense compared to the gas vehicles, which is propelling the market of these bikes in this region. Many countries in this region are also offering subsidies or tax breaks for businesses transforming to e-bikes, further driving their adoption and increasing market growth.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

E-Bike Market News

E-Bike Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of E-Bike Market?

Who are the key vendors in the E-Bike Market?

What is the key driver of E-Bike Market?

What is the key market trend for E-Bike Market?

Which region accounted for the largest share in E-Bike Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300