USD 36825.19 million
E-Bike Market Size, Share, Growth Analysis, By Class, By Speed, By Battery Type, By Motor Type, By Mode, By Component, By Usage, By Ownership, By Battery Capacity, By Motor Weight, By Motor Power, By Battery Integration, By Region -Industry Forecast 2025-2032.
Report ID:
SQMIG25C2047 |
Region:
Global |
Published Date: November, 2024
Pages:
242
|Tables:
90
|Figures:
78
E-Bike Market Insights
E-Bike Market size was valued at USD 46.52 Billion in 2023 and is poised to grow from USD 49.64 Billion in 2024 to USD 83.4 Billion by 2032, growing at a CAGR of 6.70% during the forecast period (2025-2032).
The demand for the e-bike market is growing massively mainly due to several government initiatives for reducing carbon footprints by encouraging electric vehicles, bikes, and bicycles. The rising awareness about the negative impacts of vehicles that function on fossil fuels is also boosting the growth of the market. Furthermore, governments are also emphasizing on developing bicycle-friendly streets to encourage people to choose bicycles as their transport system. The increasing demand for e-bikes is also attributed to the growing technological innovations in the sectors. Today, these e-bikes have innovative features like SIM modules that enable them to send and receive data with the help of cloud without a smartphone connection. These bikes also provide vehicle diagnostics, incorporated navigation, anti-theft systems, social media connectivity, and automatic emergency calls, increasing their popularity. E-bikes are a flexible, eco-friendly, and extremely versatile mode of transportation. Customers are considering them as the perfect substitute for smart cars, public transport and scooters. These bikes also help in reducing traffic congestion due to their minimized form factor and offer better speed with less effort, propelling the growth of the market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
pedal assist
Fastest Growth
throttle
Growth Rate
10.4% CAGR
Global Electric Bike Market ($ Bn)
Country Share for North America Region (%)
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E-Bike Market Segmental Analysis
Global E-Bike Market is segmented into Class, Speed, Battery Type, Motor Type, Mode, Component, Usage, Ownership, Battery Capacity, Motor Weight, Motor Power, Battery Voltage, Battery Integration, Drive System, Motor Power (Watt), and region. Based on Class, the market is segmented into Class I, Class II, Class III. Based on Speed, the market is segmented into Up To 25 Km/h, 25-45 Km/h. Based on Battery Type, the market is segmented into Lithium-Ion, Lithium-Ion Polymer, Lead-Acid, Other Battery Types. Based on Motor Type, the market is segmented into Hub Motor, Mid Motor. Based on Mode, the market is segmented into Pedal Assist, Throttle. Based on Component, the market is segmented into Batteries, Electric Motors, Frames with Forks, Wheels, Crank Gear, Brake Systems, Motor Controllers. Based on Usage, the market is segmented into Mountain/Trekking, City/Urban, Cargo, Other Usages. Based on Ownership, the market is segmented into Shared, Personal. Based on Battery Capacity, the market is segmented into <250W, >250W−<450W, >450W−<650W, >650W. Based on Motor Weight, the market is segmented into < 2 KG, > 2 KG −< 2.4 KG, > 2.4 KG. Based on Motor Power, the market is segmented into <40 NM, >40–<70 NM, >70 NM. Based on Battery Voltage, the market is segmented into Less Than 39V, 39V To 45V, 45V To 51V. Based on Battery Integration, the market is segmented into Integrated, External. Based on Drive System, the market is segmented into Chain Drive, Belt Drive. Based on Motor Power (Watt), <250W, 251–350W, 351–500W, 501–600W, >600W. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
E-bike Market Analysis by Class
Based on class, the market is segmented into class I, class II, and class III. The class 1 e-bike is dominating the e-bike market with the largest market revenue share. The growing demand for pedicels due to their health assistance is increasing the demand for class 1 e-bikes. The power assistance within the range of 25 kph that does not have any rules on its driving is also propelling the growth of this segment. These bikes also offer electric assistance to the riders when they are actively pedaling, making sure that they get similar experience to the conventional bikes. Class 1 bikes are generally preferred by people who are recreational riders, cycling enthusiasts, and commuters looking for an easy and enjoyable cycling experience. Today, with the increasing demand for class 1 bikes many manufacturers are developing models that have better battery life and functions.
The class 2 e-bikes are the fastest growing segment. This is because these bikes have both pedal-assisted functions and a throttle that allows motor activation without pedaling. These e-bikes are popular due to their ease of use. They are especially attractive to riders who have physical limitations and like a more effortless riding experience. Class 2 e-bikes are generally utilized for commuting and leisure riding, providing convenience and flexibility. However, availability and demand for class 2e-bikes also depends on regional regulations as there are many areas where there are restrictions for throttle operated e-bikes. But in areas where these throttle-assisted e-bikes are allowed they can become a popular choice for transportation.
E-bike Market Analysis by Motor Type
Based on motor type, the market is segmented into hub motor and mid motor. The hub motor is dominating the e-bike market with the highest revenue share. This growth is attributed to the increasing demand for less or minimum maintenance. The hub motors are incorporated directly into the wheel hub, which makes them easier to install and maintain. This user-friendly design appeals to a vast range of consumers, including the ones who do not have technical knowledge. Furthermore, hub motors generally need less maintenance compared to other motor types. It also minimizes ownership expenses and improves experience. Another factor increasing its demand is their silent and smooth operations.
The mid-drive motor is the fastest growing segment in the e-bike market. The mid-drive motors are placed near the pedals. This position enables them to engage with drivetrain directly, resulting in a natural and responsive riding experience compared to hub motors on wheels. The mid-driven motors are more powerful, providing outstanding assistance while climbing hills or accelerating. Moreover, they also offer higher torque, which helps with better pulling power. Mid-drive motors are suitable for various e-bikes, like mountain, commuter, and gravel. They can also efficiently manage batteries and provide constant power.
Global Electric Bike Market By Mode
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E-Bike Market Regional Insights
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.
Asia-Pacific is the fastest growing region in the e-bike market. Two countries who are major contributors to the development of the market are China and India. Due to increased population and urbanization these countries are increasing global temperatures and must apply long-lasting reforms for reducing its harmful effects. This is one of the primary reasons they are promoting the utilization of e-bikes and are reducing the usage of traditional vehicles that release carbon dioxide. Governments are implementing various incentive schemes and subsidies to increase the popularity of e-bikes among people. These factors are having a favorable effect on the sales of e-bikes, which are expected to continue expanding further.
Global Electric Bike Market By Region
- Largest
- Fastest
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E-Bike Market Dynamics
E-bike Market Drivers
Growing Environmental Awareness
- 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.
Increasing Government Incentives
- Governments are providing supportive policies and incentives globally, like subsidies and tax benefits. This is encouraging consumers to purchase more electric bikes, increasing market growth. Moreover, many governments worldwide are increasing the development of the e-bike market by implementing strict laws related to the emissions of conventional automobiles. The objective is to clean the air by reducing the number of toxic gases emitted by cars.
E-bike Market Restraints
High Initial Expenses
- The long-term savings on fuel and maintenance have the potential to reduce this expense, but the upfront investment can discourage some of the possible buyers. This is true particularly in areas where electric bikes are not subsidized or where disposable income is minimal. This extremely high initial expense compared to conventional bicycles is one of the main restrictions for the market hindering growth.
Increasing Infrastructure and Regulation
- Several cities do not have proper bike lanes or charging stations for electric bikes, which makes it difficult for riders to utilize them safely and conveniently. Furthermore, rules related to the utilization of electric bikes differ among regions, resulting to confusion and inconsistency. The shortage of infrastructure and regulations supporting their is restricting the market growth.
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E-Bike Market Competitive Landscape
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.
E-bike Market Top Player’s Company Profile
- Giant Manufacturing Co. Ltd.
- Accell Group N.V.
- Yadea Group Holdings Ltd.
- Yamaha Motor Co., Ltd.
- Pedego Electric Bikes
- Pon.Bike
- Aima Technology Group Co. Ltd.
- Merida Industry Co. Ltd.
- Trek Bicycle Corporation
- Specialized Bicycle Components, Inc.
- Robert Bosch Gmbh
- Samsung Sdi Co. Ltd.
- Panasonic Holdings Corporation
- Bafang Electric (Suzhou) Co Ltd
- Brose Fahrzeugteile
- Shimano Inc
- Johnson Matthey Battery Systems
- Promovec A/S
- BMZ Group
- Wuxi Truckrun Motor Co. Ltd
Recent Developments
- 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 Key Market Trends
Increasing Urbanization and Traffic Congestion
- 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.
Technological Developments and Innovation
- The e-bike market is increasing its technological advancements and innovation, offering immense opportunities for organizations to differentiate their products and attract customers. Enhancements in battery technology, motor efficiency, and connectivity are making electric bikes more powerful, efficient, and user-friendly. The incorporation of smart features, like GPS tracking, smartphone connectivity, and electric assistance modes, is improving user experience and increasing the market appeal of e-bikes.
E-Bike Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global e-bike market is extremely opportunistic and competitive due to the changing consumer trends towards eco-friendly vehicles. Furthermore, manufacturers are also finding e-bikes as an economical substitute for electric vehicles. The e-bike sharing services coupled with support from government facilities is promoting the usage and adoption of these vehicles. This is contributing to the progression of the e-bike market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 43.60 billion |
| Market size value in 2031 | USD 78.16 billion |
| Growth Rate | 6.70% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on E-Bike Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on E-Bike Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the E-Bike Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the E-Bike Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the E-Bike Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the E-Bike Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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