E-bikes Market

Global E-bikes Market Research Report: By Propulsion Type (Pedal-assisted, Throttle-assisted), By Battery Type (Lithium-ion Battery, Lead-acid Battery), By Power (Less than or equal to 250W, Above 250W), By Application (City/Urban, Trekking, Cargo, Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Automobile & Transportation | December 2023 | Report ID: EMR00348 | Pages: 301

The global e-bikes market was valued at USD 20.02 billion in 2023 and is estimated to reach approximately USD 69.75 billion by 2032, at a CAGR of 14.8% from 2024 to 2032.

 

Since its launch, the e-bike business has experienced a rapid expansion that has changed outdoor leisure and urban travel. When e-bikes first appeared in the early 2000s, their assisting technology and green credentials helped them acquire popularity quickly. These electric-motor-powered bicycles provide riders different degrees of pedal assistance, increasing their pedaling force and facilitating more comfortable rides on a variety of surfaces. A number of reasons combined to cause their popularity to soar, including rising environmental concern, improvements in battery technology that increased their range and efficiency, and a growing focus on leading healthier lives. Furthermore, e-bikes have become a viable alternative for commuting due to urbanization and traffic congestion, which encourages faster, more affordable, and environmentally friendly travel. As the market has evolved, a range of styles, from strong off-road versions to stylish city commuters, have been introduced to meet the varied demands of consumers. Governments all throughout the world have backed this trend by offering incentives for the use of e-bikes, promoting a move toward greener modes of transportation. The e-bike industry is still a vibrant and exciting one, with the potential to further transform leisure and personal transportation as innovation continues to improve these two-wheeled marvels.

 

 

 

E-BIKES MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

20.02 Bn

Projected Market Value (2032)

69.75 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Propulsion Type, By Battery Type, By Power, By Application, & Region

Segments Covered

By Propulsion Type, By Battery Type, By Power, By Application, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global E-bikes Market Dynamics

An explosion of inventions has been spurred by this growing demand, resulting in a greater variety of e-bike models with improved designs, longer battery lives, and increased performance. Government programs and regulatory support, such as infrastructure construction and subsidies, have stimulated market expansion and promoted acceptance and integration into mainstream transportation networks. Technology is constantly improving e-bikes, extending their range and cutting down on charging periods. This is especially true of battery technology and motor efficiency. In addition, partnerships between established bicycle producers and technology firms have expedited market growth and spawned the development of advanced, feature-rich e-bikes. With more manufacturers entering the market and providing consumers with a wide range of options at different price points and features, the competition landscape is becoming more intense. The e-bike business has also expanded as a result of the pandemic's inducing a move towards alternate modes of transportation, making them an appealing option for both commuters and recreational riders. Sustainability continues to be a key concern as the sector develops, affecting the selection of materials and methods of production. The dynamic character of the e-bike sector and its compatibility with changing consumer tastes guarantee a trajectory of continuous innovation and expansion.

 

Global E-bikes Market Drivers

  • Increasing Environmental Consciousness

The drive to lessen carbon footprints and a shared concern for environmental sustainability are the causes of this increased knowledge. People are moving more and more in the direction of environmentally friendly alternatives as they become more aware of the negative environmental effects of fossil fuel-based transportation, which include air pollution and greenhouse gas emissions. Due to their zero-emission status and much lower energy consumption compared to traditional vehicles, e-bikes present an attractive solution. Their use supports climate change mitigation objectives by lowering air pollution and decreasing reliance on fossil fuels. Beyond individual decisions, this environmental concern affects infrastructure development and policy-making, pushing governments to promote and incentivise the use of electric vehicles, such as e-bikes. As environmental consciousness persists in pushing cultural attitudes and behaviors toward more sustainable practices, e-bikes provide a real and practical alternative for people who want to choose environmentally friendly transportation options without sacrificing efficiency or comfort.

  • Ongoing innovations in battery technology

The performance and allure of e-bikes are directly impacted by advancements in battery technology, particularly with regard to energy density, charging capacity, and overall efficiency. The chemistry of lithium-ion batteries has advanced, resulting in lighter, more compact, and higher-capacity batteries that greatly increase the range and power output of e-bikes. Range anxiety, one of the main worries for prospective e-bike customers, is reduced because to improved energy storage, which enables longer rides on a single charge. Furthermore, shorter charging times because to advancements in rapid-charging technology have made e-bikes more practical for everyday usage. These developments in batteries not only improve the riding experience but also add to the allure of e-bikes as a practical form of transportation. A wider range of consumers will be able to purchase and use e-bikes due to advancements in battery technology and declining pricing. E-bikes will continue to be revolutionized by ongoing research and development in battery technology, which will make them more attractive, economical, and efficient. This will further establish e-bikes as a viable and sustainable mode of transportation in the years to come.

 

Restraints:

  • High Initial Cost

E-bikes are generally more expensive than regular bicycles because they incorporate electric parts such as motors, batteries, and advanced control systems. For many prospective consumers, especially those who are used to the affordability of standard bicycles, this higher price may be a turnoff. An e-bike's initial cost may deter some people from thinking of them as a practical means of entertainment or transportation. Furthermore, even if e-bikes are less expensive in the long run to operate and maintain than vehicles or motorbikes, the initial outlay may still be a deterrent for buyers on a tight budget or who are not aware of the advantages over time. Without any prior e-bike experience, the perceived risk of such a large expenditure could prevent e-bikes from becoming widely used. This barrier might be lifted by initiatives to lower the cost of production, encourage purchases through financing or subsidies, and inform customers of the long-term benefits and cost savings that e-bikes provide. All of these actions would increase the accessibility and appeal of e-bikes to a larger range of people.

  • Limited Infrastructure

E-bikes, in contrast to conventional bicycles, need specialized support infrastructure, including bike lanes and charging stations, in order to be used efficiently. The integration of e-bikes into urban contexts is hindered by the lack or inadequate provision of these fundamental infrastructure components. For example, the scarcity of charging stations makes e-bikes less practical and convenient for daily commuting. This might cause range anxiety for riders who might not have easy access to charging points during their rides. Furthermore, rider safety is jeopardized by the lack of bike lanes or insufficient infrastructure for safe cycling paths, which discourages prospective e-bike users, especially in crowded urban locations where traffic congestion is an issue. The difficulty is further increased by the lack of safe parking spots or storage rooms for e-bikes in public areas, which deters people from using e-bikes for their daily commuting.

 

Opportunities:

  • Urban Mobility Revolution

E-bikes have a promising chance to transform urban mobility as cities struggle with growing traffic congestion, air pollution, and the demand for sustainable transportation choices. Their short to medium-distance commuters will find them to be the perfect option because to their eco-friendliness, agility, and ability to maneuver through crowded metropolitan streets. E-bikes are positioned to bridge the gap between individual mobility and public transportation as urban populations continue to soar and the demand for eco-friendly, active forms of transportation grows. Commuters can move through urban surroundings more efficiently using e-bikes' flexibility and accessibility, avoiding traffic bottlenecks and relying less on vehicles or public transportation for short excursions. The first-mile/last-mile connectivity gap can also be closed by integrating e-bikes into urban transit systems, which will enhance the current public transportation infrastructure. This possibility is further enhanced by government programs that support bike-friendly infrastructure, such as designated bike lanes and parking spaces. Urban settings will become cleaner, more efficient, and healthier as a result of the widespread adoption of e-bikes, which is made possible by the revolution in urban transportation and e-bike strengths.

  • Customization and Personalization

With so many features that may be customized, ranging from performance requirements to design aesthetics, users can customize their e-bike experience to fit their own preferences and needs. Because of this adaptability, producers can design goods specifically aimed at particular markets or tastes. For example, urban commuters looking for stylish, small bikes, adventure seekers wanting off-road capabilities, or people who need e-bikes that can carry baggage can all benefit from this versatility. Additionally, customers can improve their riding experience by customizing their ride with technology add-ons including connectivity features, power settings that can be adjusted, and accessory compatibility. These possibilities go beyond aesthetics. This chance not only promotes brand loyalty but also recurring business as customers look for updates or adjustments to accommodate changing tastes. Furthermore, the capacity to provide customized solutions gives businesses a competitive edge and enables them to differentiate themselves in a crowded market by catering to specialized needs. Accepting this trend of personalization encourages manufacturers to continuously improve and expand their e-bike options in order to satisfy the ever-changing tastes of a discriminating customer base. It also increases consumer interaction and creates new opportunities for innovation.

 

Segment Overview

By Propulsion Type

Based on propulsion type, the global e-bikes market is divided into pedal-assisted, throttle-assisted. The pedal-assisted category dominates the market with the largest revenue share in 2023. Pedelecs, another name for pedal-assisted e-bikes, are made to help riders with their pedaling. These bikes have sensors that measure how hard and how quickly the rider pedals, triggering the motor to increase pedaling force. Once the cyclist quits pedaling or reaches a predetermined speed (often 15-20 mph, depending on local rules), the motor assistance ceases. Pedal-assisted e-bikes are well-liked because they give a more natural riding experience by smoothly combining electric assistance with conventional pedaling.  Often called "electric bicycles" or "e-bikes," throttle-assisted e-bikes have a throttle that functions similarly to that of a motorbike or scooter. Without having to pedal, riders can turn on the motor by twisting or pressing a throttle that is positioned on the handlebar.

 

By Battery Type

Based on the battery type, the global e-bikes market is categorized into lithium-ion battery, lead-acid battery. The lead-acid battery category leads the global e-bikes market with the largest revenue share in 2023. Despite being an outdated and less sophisticated technology, lead-acid batteries have historically been utilized in some e-bikes because of their lower price. However, in comparison to lithium-ion batteries, they are bigger, heavier, and have a lower energy density. As a result, the charging time and range are reduced each charge. Additionally, because lead-acid batteries are more prone to sulfation, they often have a shorter lifespan and require more maintenance, such as routinely topping off electrolyte levels and handling with caution. In the e-bike market, lithium-ion batteries are the more common and technologically sophisticated choice. In comparison to lead-acid batteries, they are renowned for having a greater energy density, being lighter, and having a longer lifespan. E-bikes can travel farther between charges because to the superior performance of Li-ion batteries, which have larger power outputs and higher efficiency. Additionally, they tend to be more compact and have a lower self-discharge rate, which enables more flexible and ergonomic designs in e-bikes.

 

By Power

Based on power, the global e-bikes market is segmented into less than or equal to 250W, above 250W. The above 250W segment dominates the e-bikes market. Higher-powered electric bikes are defined as those with motors that are capable of producing more than 250 watts. Compared to e-bikes limited to 250W or less, these usually provide more powerful electric assistance and may enable faster speeds. Higher power output e-bikes may be subject to various restrictions in some regions, or based on their power and speed capabilities, they may even be classified as electric mopeds or motorcycles. This group includes e-bike motors with power outputs of less than or equal to 250 watts. E-bikes in this power range are sometimes referred to as pedal-assist or pedelec bikes in a number of locations, including Europe, North America, and others.

 

By Application

Based on application, the global e-bikes market is divided into city/urban, trekking, cargo, others. The trekking category dominates the market with the largest revenue share in 2023. Trekking e-bikes are designed to be versatile and for longer trips. Wider tires for different types of terrain, strong frames, and more sophisticated suspension systems for comfort are common features. Recreational riders and commuters looking for a more adaptable e-bike that can tackle both city streets and off-road terrain should consider these bikes. E-bikes dubbed city or urban are made for riding in cities and traveling about them. Typically, they have a stylish appearance, a comfortable riding position, and useful equipment like lights, racks, and fenders. These e-bikes put an emphasis on being simple to use, agile in urban traffic, and frequently equipped with lowered step-through frames for accessibility. E-bikes with cargo are made especially for moving cargo and hauling big weights. They have longer frames, strong load racks, and occasionally even dedicated cargo compartments.

 

Global E-bikes Market Overview by Region

The global e-bikes market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific emerged as the leading region, capturing the largest market share in 2023. The demand and interest in e-bikes among consumers have increased significantly in the region. E-bikes have become increasingly popular as a useful and environmentally beneficial form of transportation due to factors such rising urbanization, traffic jams in large cities, and rising environmental consciousness. The Asia-Pacific area is home to many nations that are rapidly urbanizing and facing serious traffic congestion problems. E-bikes are a practical substitute for conventional automobiles or motorcycles for commuting through congested cities. They provide a more effective means of navigating through traffic congestion and into small or crowded streets. A number of countries in the Asia-Pacific area have launched projects and laws aimed at promoting the use of electric vehicles, such as e-bikes. The e-bike business has grown thanks to tax breaks, infrastructure development initiatives, and subsidies that support cleaner transportation. The area is a significant e-bike manufacturing hub. Renowned nations such as China, Taiwan, and South Korea are major manufacturers of e-bikes, making substantial contributions to the worldwide market. The region's e-bike market is now more accessible and affordable because to the region's well-established manufacturing infrastructure and e-bike production experience.

 

 

 

 

Global E-bikes Market Competitive Landscape

In the global e-bikes market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global e-bikes market include

  • Accell Group N.V.
  • Aima Technology Group Co. Ltd.
  • Giant Manufacturing Co. Ltd.
  • Merida Industry Co., Ltd.
  • Pedego Electric Bikes
  • Pon.Bike
  • Rad Power Bikes Inc.
  • Trek Bicycle Corporation
  • Yadea Group Holdings Ltd.
  • Yamaha Motor Company

and various other key players.

 

Global E-bikes Market Recent Developments

  • In November 2023, An industry leader in the E-bike industry with over 16 years of experience, LEV Manufacturing, Inc., and mobility-focused investment firm Lane VC have announced the acquisition of Serial 1 Cycle Company, LLC. The strategic partnership is a turning point for both businesses, highlighting their dedication to creating the best bikes in the United States and to revolutionizing the e-bike market.

 

Scope of the Global E-bikes Market Report

E-bikes Market Report Segmentation

ATTRIBUTE

DETAILS

By Propulsion Type

  • Pedal-assisted
  • Throttle-assisted

By Battery Type

  • Lithium-ion Battery
  • Lead-acid Battery

 

By Power

  • Less than or equal to 250W
  • Above 250W

By Application

  • City/Urban
  • Trekking
  • Cargo
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global E-bikes Market Size and Forecast:

To identify and estimate the market size for the global e-bikes market segmented by propulsion type, by battery type, by power, by application, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of e-bikes between 2019 and 2032.

  • Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for the global e-bikes market

  • Market Influencing Factors:

To find out the factors which are affecting the sales of e-bikes among consumers

  • Impact of COVID-19:

To identify and understand the various factors involved in the global e-bikes market affected by the pandemic

  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Raw Material Suppliers
  • Policy Makers and Government Officials
  • Urban Planners and City Officials
  • Retailers, Wholesalers, and Distributors
  • Governments, Associations, and Industrial Bodies
  • Investors and Trade Experts

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The E-bikes market refers to the industry involved in the manufacturing, distribution, and sale of electric bicycles. These bikes are equipped with electric motors to assist riders in pedaling, providing a sustainable and efficient mode of transportation.
The growth of the E-bikes market is primarily driven by increasing awareness of environmental sustainability, a surge in urbanization, rising concerns about traffic congestion, and a growing preference for healthier and more energy-efficient commuting alternatives.
Asia-Pacific held the largest share in 2023.
Challenges in the E-bikes market include concerns about the cost of E-bikes compared to traditional bicycles, addressing battery disposal and recycling issues, and navigating complex regulations that can vary by country or region. Additionally, building and maintaining charging infrastructure can pose challenges in some areas.
Key players in the E-bikes market include established bicycle manufacturers, tech companies entering the electric mobility sector, and specialized E-bike manufacturers. Some notable names include Bosch, Shimano, Trek Bikes, and specialized E-bike brands like Rad Power Bikes and Cowboy.