USD 36825.19 million
E-Bike Market Size, Share, Growth Analysis, By Class(I, II, III), Mode(Pedal Assist, Throttle), Component(Batteries, Electric Motors, Frames With Forks, Wheels), Speed, Battery Type, Battery Capacity, Motor Type, Motor Weight, Motor Power, Ownership, Usage, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG25C2047 |
Region:
Global |
Published Date: June, 2024
Pages:
242
|Tables:
90
|Figures:
78
E-Bike Market Insights
Global 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% during the forecast period (2024-2031).
The global demand of electronic bike market is driven by market growths which include government policies to encourage the use of E-bikes, changing consumer perception towards e-bikes as an efficient and cheaper mode of transport as compared to the traditional vehicles, increasing fuel prices, and increasing popular trend towards cycling for sports and recreation. Concerning the consumer segment, the market goes beyond the cyclists to encompass the commuters who are in search of green mobility solutions. E-bikes are common especially among city dwellers because they are affordable to operate, efficient, and can maneuver through traffic jams easily. For instance, Cannondale and Stella McCartney introduced the new collection of Stella Shared 3x Cannondale customised bikes.
The industry's ongoing technological developments are another factor contributing to the rising e-bike demand. For instance, connected e-bikes feature a SIM module that allows them to send and receive data through the cloud even when they are not connected to a smartphone. These motorcycles are also equipped with connectivity options like remote diagnostics aid, in-built navigation, anti-theft, social media integration and automatic emergency calling. The top player in the connected e-bike market is Robert Bosch GmbH. Because they occupy less space, work faster with no need for additional effort, and have multiple health benefits, they mitigate traffic congestion levels. It is expected that these elements will help propagate e-bike orders on a global level.
US E-Bike Market is poised to grow at a sustainable CAGR for the next forecast year.
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
E-bike market is segmented into Class, Speed, Mode, Component, Battery Type, Battery Capacity, Motor Type, Motor Weight, Motor Power, Ownership, Usage, and Region. Based on Class, the market is segmented into Class I, Class II, and Class III. Based on Speed, the market is segmented into Up To 25 km/h and 25-45 km/h. Based on Mode, the market is segmented into Pedal Assist and Throttle. Based on Component, the market is segmented into Batteries, Electric Motors, Frames with Forks, Wheels, Crank Gear, Brake Systems, and Motor Controllers. Based on Battery Type, the market is segmented into Lead Acid, Lithium-Ion, Lithium-ion Polymer, and Others. Based on Battery Capacity, the market is segmented into <250W, >250W−<450W, >450W−<650W, and >650W. Based on Motor Type, the market is segmented into Hub Motor and Mid Motor. By motor weight, the market is segmented into < 2 KG, > 2 KG −< 2.4 KG, > 2.4 KG, and Others. Based on Motor Power, the market is segmented into <40 NM, >40–<70 NM, and >70 NM. Based on Ownership, the market is segmented into Shared and Personal. Based on Usage, the market is segmented into Mountain/Trekking, City/Urban, Cargo, and Others. By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Battery Type
For the duration of the forecast period, the segment lithium-ion battery is expected to register the largest market share of about 60%. This is attributed to factors such as the advancement in the lithium-ion battery chemistry, the battery power to weight ratio, effective charging, raised energy density coupled with the battery life cycle. Further, there is drastic improvement in lithium-ion battery technology which in turn has greatly impacted the costs, making them more accessible. This capability to undergo multiple charge cycles and maintain efficiency without experiencing degradation makes them more durable, reliable, and these are two important aspects that consumers look at.
In 2023, the lead acid segment accounted for the fastest growing battery type. Most e-bikes on the market today use lead acid batteries, which are inexpensive, simple to recycle, and practical. Lead acid batteries also offer high surge currents, making them suitable for applications requiring substantial initial torque, such as electric bikes. As manufacturers innovate to improve the efficiency and reduce the weight of lead acid batteries, their growth trajectory is expected to accelerate further, catering to a diverse range of consumer needs and market segments.
Analysis by Mode
In 2023, the pedal-assisted mode segment held the largest market share in the industry with of more than 58.3%. These electronic bikes have their engines generated from pedalling power so that they can increase your speed while it is easier to pedal at them for cyclists. At the same time, they are usually driven up hills or through any other difficult terrain. Pedal-assist bikes promote physical activity and health benefits while extending range and reducing rider fatigue, making them suitable for longer rides and diverse terrain and many regions incentivize pedal-assist bikes with favourable regulations It is projected that the increase in youth demand for pedal-assisted e-bikes will support market expansion.
Over the projection period, the throttle-assisted segment is anticipated to develop at a CAGR of 14.6%. The increased use of throttle-assisted e-bikes, which supply power directly to the engine and eliminate the need for manual pedalling, is responsible for the segment's growth. Throttle mode also offers constant speed control, thus making it appropriate for towns and short distanced drives characterized by frequent starts and stops. Therefore, with improved battery efficiency due to advanced technology and adaptation of regulations to the bikes using it, this segment is set to witness further rapid growth as it addresses varied consumer tastes and makes it easier for people to use electric bicycles in different parts of the world.
Global Electric Bike Market By Mode
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E-Bike Market Regional Insights
North America on the e-bike market preferences, it is dominant in the region, especially in the growth of the cargo e-bikes mainly due to the infrastructural development of e-bikes in transport, traffic congestion compounded by high fuel cost in the urban area for goods transport. Cargo e-bikes are much faster and eco-friendly as compared to conventional lorries in delivering products and goods within cities. They involve reduced expenses, are subsidized, and are also eligible for tax exemptions in some areas as well as consuming less energy. Although slightly down in 2023, people are still interested in buying e-Bike after-market kits as well as other industries like environmentally friendly transportation, called such terms like Micromobility-as-a-Service that are often identified with such companies as Lime, Bird, and Lyft mainly in North America and with the United States being their largest market.
The region that contributes to be the fastest growing region to global revenue is Asia-Pacific, which is anticipated to expand at a CAGR of 10% over the projection period. Due to its affordability, environmental friendliness, and low electricity requirements, e-bikes are becoming more and more popular across Asia and the Pacific region compared to other forms of transportation. Moreover, it is anticipated that a rise in government initiatives to promote environmentally friendly vehicles and bicycles as well as the development of pertinent infrastructure will hasten the development of the E-Bike sector.
Global Electric Bike Market By Region
- Largest
- Fastest
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E-Bike Market Dynamics
E-Bike Market Drivers
Environment-Friendly Transportation to Bolster Market
- The increasing concerns for the environment call for efficient and environmentally-friendly means of transport. The low or zero emission makes E-Bikes a green product as compared to gasoline emissions in automobiles. E-bikes are being adopted for delivery services, especially by the fourth plague of delivery services in densely populated areas with traffic-related challenges like congestion and parking. Logistics organizations have employed cycling to meet delivery targets and minimize delivery period, leading to the growth of the E-Bike market.
Technological Advancements in Battery Technology
- Some of the growth drivers include the development of new battery technology that improves energy density and charging cycles for e-bikes. New and improved batteries bring more mileage per charge as well as less time to charge, and these two factors could make e-bikes more suitable for consumers on the market. While the current successes of battery technology research and development represent the greater innovation of e-bikes, more development in this field is anticipated in the future, concretely establishing e-bikes as a viable solution in today’s modern mobility contexts.
Restraints
Charging Infrastructure to Hinder Market Growth
- The absence of available charging points can act as a significant barrier to the development of the E-Bike market, especially in areas that are poorly equipped with charging points. This can be a major hindrance especially to consumers and manufacturers because people will not order E-Bikes not knowing where they can get them.
High Initial Cost Barrier
- E-bikes would have become increasingly more popular if it had started out at lower prices. Despite their lower running costs as compared to other conventional cars, the first buying price could discourage many potential buyers, more so those in cheap markets. Hence, there is a dire need to cut down on production costs as well as increase accessibility so as to reach many customers as possible.
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E-Bike Market Competitive Landscape
The structure of the e-bike market is highly competitive, in which there are many global and regional players who enter the market to gain a competitive advantage through the introduction of new technologies, distinction between products, and cooperation. Some of the leading firms in this market include Bosch, Yamaha, Giant and they all have very good coverage of all sub categories within the e-bike market. International key players include the UK’s Brompton Bicycle Company and Swiss Stromer with targeted designs. Also, new competitors and promising startups such as Rad Power Bikes from the USA challenge the market with D2C strategies and relatively low prices. The market is constantly growing and shifting due to the developments in technologies such as batteries and motors as well as the changing preferences of consumers in urban transportation.
E-Bike Market Top Players Company Profiles
- 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)
- Riese & Müller GmbH (Germany)
- Robert Bosch GmbH (Germany)
- Shenzhen U-Watt Battery Technology Co., Ltd. (China)
- Stromer AG (Switzerland)
- Yamaha Motor Co., Ltd. (Japan)
- Yadea Technology Group Co., Ltd. (China)
E-Bike Market Recent Developments
-
In March 2024, Ather Energy held a new plan to launch its first e-motorcycle in the next three to five years. An interview with the Chief Business Officer of Ather, shared that the company is not idle and is already designing electric bikes. Some of the challenges that Ather has had to deal with include the COVID-19 pandemic and shifts in the FAME 2 subsidy and yet the company has not wavered from the value of innovation. Some of the new models that the company has recently released in the market are the Ather 450S, Ather 450 Apex, and it soon plans to release the Ather Rizta.
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In November 2023, Lotus introduced the Type 136, a new generation of performance e-bike which integrated the lightest HPS motor. As a road and track hybrid, this bike is the product of Lotus’s over three decades of cycling experience and incorporates the newest technology for increased velocity, range, as well as climbing capability.
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In August 2023, the Times of India revealed that motorcycle maker Eicher Motors, which owns Royal Enfield bike company, will launch its first electric bike in India in the next two years.
E-Bike Key Market Trends
- Growing Global Popularity of Electric Mountain Bikes: Electric mountain bikes (eMTBs) are on the rise across the global market since they offer a better and less strenuous way of cycling over the rocky terrains. These bikes are meant for those who want to go out for a ride on a challenging steep path and rigorous cycling that is related to mountain bikes but without the heavy physical challenge. The trend represents the evolution of improving outdoor activities and recreation utilizing electric propulsion with the increased focus on riders’ experience of outdoor activities, which is existing and will continue to growing interest from outdoor enthusiasts and adventurous people around the world.
E-Bike Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Based on our analysis, we then found out that the global E-Bike market has been on an upward trend in the last few years as a result of consumer transition to environmentally friendly transportation vehicles, policy support, and technological advancement in_battery-powered bicycles and e-bikes on the market. Market is predicted to grow in the next years with the help of several factors which include improvement of battery technologies, urbanization, and recognition of advantages of using E-Bikes. There is also some disadvantage of the market that includes high initial cost, short range of the vehicle, and charging infrastructure required. These can act as a constrain to development of this market in some regions. Further, licensing as well as safety standards also remain a problem for the market manufacture, and in due course, the global market. Due to the growing consumers’ sensitivity to protection of the environment and emergence of innovative technology the global e-bike market is likely to expand in the subsequent years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 54.56 Billion |
| Market size value in 2031 | USD 138.44 Billion |
| Growth Rate | 10.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
E-Bike Market Recent Developments
|
| 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.
E-Bike Market Report Snapshots
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