USD 49.2 billion
Report ID: SQMIG25J2040 | Region: Global | Published Date: July, 1999 | Pages: 223 | Tables: 62 | Figures: 76
Electric Bike Market size was valued at USD 49.2 billion in 2021 and is poised to grow from USD 54.56 billion in 2022 to USD 112.57 billion by 2030, at a CAGR of 10.9% during the forecast period (2023-2030).
Market growth is anticipated to be fuelled by the implementation of government regulations to promote the use of electric bikes, consumer preference for e-bikes as an efficient and eco-friendly alternative for commuting, rising fuel prices, and growing interest in cycling as a sport and leisure activity. For instance, Cannondale and Stella McCartney unveiled the new Stella Shared 3x Cannondale customised bike line in November 2022. 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 also come equipped with remote diagnostics, built-in navigation, anti-theft systems, social media connectivity, and automatic emergency calls. Leading provider of connected e-bikes is Robert Bosch GmbH. Due to their smaller footprint, higher speed with little extra effort, and a variety of health advantages, they help to lessen traffic congestion. These elements are anticipated to support e-bike demand on a global scale.
US Electric Bike Market is poised to grow at a sustainable CAGR for the next forecast period.
Global Market Size
USD 49.2 billion
Largest Segment
Pedal Assist
Fastest Growth
Pedal Assist
Growth Rate
10.9% CAGR
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Global Electric Bike Market is segmented on the basis of propulsion type, battery type and region. By propulsion type, the market is segmented into pedal assist and throttle. By battery type, market is segmented into lead acids, lithium-ion, nickel metal hydride, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Electric Bike Market Analysis by Battery Type
In 2022, the lead acid industry accounted for the greatest market share. The majority of e-bikes on the market today use lead acid batteries, which are inexpensive, simple to recycle, and practical. Even though they are less expensive, lithium-ion batteries are now replacing these older models because they offer superior efficiency, range, and durability. As opposed to lithium-ion batteries, lead acid batteries are less robust and are criticized for being unfriendly to the environment.
Over the course of the forecast period, the lithium-ion battery segment is predicted to grow at a faster rate. The enhanced battery chemistry, improved power-to-weight ratio, effective charging, increased energy density, and improved battery life cycle of lithium-ion batteries are credited with this.
Electric Bike Market Analysis by Propulsion Type
With a market share of more than 58% in 2022, the pedal-assisted category dominated the industry. The motor of pedal-assisted e-bikes produces more power, allowing riders to pedal more quickly and easily. These bikes are also frequently used on hills and other difficult terrain. 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 pedaling, is responsible for the segment's growth.
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The region that contributes the most 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 electric bike sector.
During the forecast period, Europe is anticipated to generate USD 25 billion at a CAGR of 10.9%. In Europe, electric bikes are becoming more and more popular as people choose them for commuting, recreation, and sports. The European government and environmental authorities are enacting strict emission rules and laws in response to growing environmental concerns, which is driving up demand for electric bikes across the continent.
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Electric Bike Market Drivers
Environment-Friendly Transportation to Bolster Market
Electric Bike Market Restraints
Charging Infrastructure to Hinder Market Growth
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Details about each company are provided in the electric bike (e-bike) market competitive landscape. Details include an overview of the business, financial information, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product introduction, product breadth, and application dominance.
Electric Bike Market Top Player’s Company Profiles
Electric Bike Market Recent Developments
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.
According to our analyses, the global electric bike market has witnessed significant growth in recent years due to the increasing demand for eco-friendly transportation alternatives, government incentives, and the growing popularity of e-bikes among urban commuters. The market is expected to continue to grow in the coming years, driven by several factors such as advancements in battery technology, increasing urbanization, and the rising awareness of the benefits of electric bikes. The market also faces challenges such as high initial cost, limited range, and the need for charging infrastructure. These factors can hinder the growth of the market in certain regions. Additionally, regulatory challenges such as licensing and safety regulations can also pose a challenge for the market. The global electric bike market is expected to continue to grow in the coming years due to increasing consumer demand for eco-friendly transportation alternatives and advancements in technology.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 49.2 billion |
Market size value in 2030 | USD 112.57 billion |
Growth Rate | 10.9% |
Base year | 2021 |
Forecast period | 2023-2030 |
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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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Electric 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 Global Electric 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Electric Bike Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Electric 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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