Global Electric Bike Market

Global Electric Bike Market Size, Share, Growth Analysis, By Propulsion Type(Pedal Assist and Throttle), By Battery Type(Lead Acid, Lithium-Ion) - Industry Forecast 2023-2030


Report ID: SQMIG25J2040 | Region: Global | Published Date: July, 1999 | Pages: 223 | Tables: 62 | Figures: 76

Global Electric Bike Market Insights

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.

Market snapshot - 2023-2030

Global Market Size

USD 49.2 billion

Largest Segment

Pedal Assist

Fastest Growth

Pedal Assist

Growth Rate

10.9% CAGR

Global Electric Bike Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
Global Electric Bike Market Size By Propulsion Type 2022-2030 ($ Bn)
Global Electric Bike Market Size By Propulsion Type 2022-2030 (%)

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Global Electric Bike Market Segmental Analysis

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.

Global Electric Bike Market Size By Propulsion Type 2022(%), 2021 (%)

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Global Electric Bike Market Regional Insights

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.

Global Electric Bike Market Size By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global Electric Bike Market Dynamics

Electric Bike Market Drivers

Environment-Friendly Transportation to Bolster Market

  • With growing environmental concerns, consumers are increasingly looking for greener modes of transportation. Electric bikes are eco-friendly as they emit low or zero emissions, making them an attractive alternative to gasoline-powered vehicles.
  • E-bikes are becoming increasingly popular for delivery services, particularly in urban areas where traffic congestion and parking can be a challenge. Delivery companies are using e-bikes to reduce delivery times and improve efficiency, which is driving the growth of the electric bike market.

Electric Bike Market Restraints

Charging Infrastructure to Hinder Market Growth

  • The lack of charging infrastructure can be a major hindrance to the growth of the electric bike market, particularly in regions where charging stations are scarce. This can be a significant barrier to adoption, as consumers may be hesitant to purchase electric bikes if they are unsure of where they can charge them.

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Global Electric Bike Market Competitive Landscape

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

  • 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)
  • Pedego Electric Bikes (United States)
  • PEXCO NV (Belgium)
  • 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)

Electric Bike Market Recent Developments

  • In December 2022, the family-run Emsons Group founded and launched The Cyclery in Dubai. Cannondale was able to expand its reach throughout the UAE thanks to their extensive local understanding and industry expertise.
  • In December 2022, The New U.S. Partner Recruitment Drive for Yadea's Ebike Products is a part of the company's 2023 nationwide dealership promotion plan. In the US, Yadea's Ebike is seeking regional distributors and agents as part of its plans to go global.
  • In August 2022, Tech Mahindra and isMobile, a Swedish software company that specializes in field service solutions, announced their strategic partnership. A leading supplier of consultancy, business re-engineering, and digital transformation services and products is Tech Mahindra.
  • In July 2022, in a joint statement, the Offeror and Accell Group stated that Euronext Amsterdam N.V. has granted permission for the shares to be delisted from the Euronext Amsterdam exchange due to the Offeror's ownership of more than 95% of the issued and outstanding shares of Accell Group (the "Shares") after the Offer is completed.

Global Electric Bike Key Market Trends

  • Electric mountain bikes, which are designed for off-road use, are gaining popularity globally. These bikes offer a more comfortable and less strenuous riding experience, making them ideal for longer rides on rough terrain.

Global Electric 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.

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
  • Propulsion Type
    • Pedal Assist and Throttle
  • Battery Type
    • Lead Acid, Lithium-Ion, Nickel Metal Hydride, 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
  • 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)
  • Pedego Electric Bikes (United States)
  • PEXCO NV (Belgium)
  • 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)
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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 Global Electric 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 Global Electric 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 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.

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 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.

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FAQ's

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).

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. '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)', 'Pedego Electric Bikes (United States)', 'PEXCO NV (Belgium)', '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)'

With growing environmental concerns, consumers are increasingly looking for greener modes of transportation. Electric bikes are eco-friendly as they emit low or zero emissions, making them an attractive alternative to gasoline-powered vehicles.

Electric mountain bikes, which are designed for off-road use, are gaining popularity globally. These bikes offer a more comfortable and less strenuous riding experience, making them ideal for longer rides on rough terrain.

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.

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Global Electric Bike Market

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