Global E-Bike Market

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: August, 2024
Pages: 242 | Tables: 90 | Figures: 78

E-Bike Market Insights

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 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.  

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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. 

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Global E-Bike Market

Report ID: SQMIG25C2047

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