Global E-Bike Market

E-Bike Market Size, Share, Growth Analysis, By Propulsion(pedal assist and throttle), By Battery(lead acid, lithium-ion, nickel metal hydride, and others), By Application(mountain/trekking, city/urban, cargo, and others), By Region - Industry Forecast 2024-2031


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

E-Bike Market Insights

E-Bike Market size was valued at USD 36825.19 million in 2019 and is poised to grow from USD 40664 million in 2023 to USD 89736 million by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).

By encouraging the use of electric cars, electric bikes, and bicycles, a number of governments are taking steps to reduce carbon footprints. This trend is also bolstered by the growing public awareness of the harmful effects of fossil fuel-powered automobiles. Additionally, governments are working to create bicycle-friendly streets, which will encourage people to use bicycles as their mode of transportation.

The industry's increasing technological advancements can also be cited as a contributing factor to the rising demand for e-bikes. Connected e-bikes, for example, have a SIM module that lets them send and receive data over the cloud without having to connect to a smartphone. Remote diagnostics, integrated navigation, anti-theft systems, connectivity to social media, automatic emergency calls, and other features are also available on these bikes. In the market for connected e-bikes, Robert Bosch GmbH is a major player.

However, as the need to avoid public transportation grows, more and more people are choosing to ride bicycles. As a result, demand for e-bikes as a cost-effective, secure, and practical mode of transportation has skyrocketed.

US E-Bike Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 36825.19 million

Largest Segment

pedal assist

Fastest Growth

throttle

Growth Rate

10.4% CAGR

E Bike Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)

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E-Bike Market Segmental Analysis

The E-Bike Market is segmented on the basis of propulsion type, battery type, application and region. Whereas, by propulsion it is sub segmented into pedal assist and throttle. By Battery type, it is sub segmented into lead acid, lithium-ion, nickel metal hydride, and others. By Application, it is sub segmented into the mountain/trekking, city/urban, cargo, and others. By region, it is segmented on the basis of North America, Europe, Asia Pacific, Latin America, and MEA.

E-Bike Market Analysis by Propulsion

Based on the Propulsion, Due to its longer battery life, lower maintenance requirements, and the option to select from three to five pedal-assist modes depending on the model, the pedal assist segment commanded the majority of the market.

During the forecast period, it is anticipated that the throttle segment will exhibit a higher CAGR. This market will expand due to factors such as reduced pedaling effort when accelerating up a hill or cruising.

E-Bike Market Analysis by Battery Type

Based on the Battery type, The lead acid segment held the largest market share in 2021. The majority of e-bikes on the market are powered by lead acid batteries, which are inexpensive and simple to recycle. These batteries are cost-effective, but they are now being replaced by lithium-ion batteries because of their superior durability, range, and efficiency. Due to their incompatibility with lithium-ion batteries and their lack of durability, lead acid batteries are criticized.

During the forecast period, a higher CAGR is anticipated for the lithium-ion battery market. This is because lithium-ion batteries have a better battery life cycle, better power-to-weight ratio, efficient charging, and a higher energy density.

E Bike Market Size By Propulsion, 2021-2028 (%), 2019 (%)

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E-Bike Market Regional Insights

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.

Europe is expected to show significant growth in the market. In July 2021, the European Mobility Atlas' second edition was released by Heinrich-Böll-Stiftung European Union. The report says that 23 of the 27 EU countries have e-bike manufacturers and parts companies. The report states that 60% of electric bikes sold in the EU are also produced in Europe, and sales are anticipated to reach approximately 13.5 million units by 2028. There are approximately 900 small and medium enterprises (SMEs) that employ approximately 120,000 people directly and indirectly and invest more than one billion euros in R&D.

North America is also expected to show good growth in the market. NABSA says that in 2020, 44% of bike-share systems will use electric bikes, up from 28% in 2019.Speed limits have been reduced, some roads have been closed to traffic, and dedicated lanes have been added for two-wheelers in a number of cities, including Washington, D.C., New York, and San Francisco. The rise in e-bike usage in this region is attributed to these factors.

E Bike Market By Geography, 2021-2028, 2024-2031
  • Largest
  • Fastest

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E-Bike Market Dynamics

E-Bike Market Drivers

Technological Advancement to Bolster Demand for E-Bike Globally

  • 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.

E-Bike Market Restraints

Lower Adoption Rate to Hinder Market Growth

  • Due to high purchase costs, e-bike adoption remains limited on a larger scale. A survey of self-selected owners of electric mopeds in North America in 2019 revealed that purchasing an e-bike typically costs USD 2,600. A mountain moped, for example, costs an average of USD 620 at the wholesale level in the United States (Bicycle Retailer and Industry News, 2019). As a result, the global e-bike market share will suffer during the forecast period due to the high cost of ownership.

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E-Bike Market Competitive Landscape

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.

E-Bike Market Top Players Company Profiles

  • 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

E-Bike Market Recent Developments

  • 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.

E-Bike Key Market Trends

  • 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.

E-Bike Market SkyQuest Analysis

Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our global E-bike market analysis, Many countries are launching programmes to reduce carbon footprints by promoting the use of bicycles, electric vehicles, and other forms of personal transportation. This tendency is also being fueled by the growing understanding of the negative impacts of fossil fuel-powered cars. Governments are also concentrating on building bicycle-friendly roadways, which promotes the use of bicycles as a means of transportation.

Report Metric Details
Market size value in 2019 USD 36825.19 million
Market size value in 2031 USD 89736 million
Growth Rate 10.4%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Million
Segments covered
  • Propulsion
    • pedal assist and throttle
  • Battery
    • lead acid, lithium-ion, nickel metal hydride, and others
  • Application
    • mountain/trekking, city/urban, cargo, and others
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
  • 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

E-Bike Market Recent Developments

  • 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.
Customization scope

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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
  • 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
  • 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
  • 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(%)

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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FAQs

E-Bike Market size was valued at USD 36825.19 million in 2019 and is poised to grow from USD 40664 million in 2023 to USD 89736 million by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).

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.'

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.

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.

The Asia Pacific dominated the 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.

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Global E-Bike Market

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