E-bike Market Size - By Product (Trekking Bike, Cargo Bike, City/Urban Bike), By Battery (Lithium-Ion, SLA, NiMH), By Motor (Mid Motor, Hub Motor), By Sales Channel (Offline, Online), By Propulsion Type (Pedal-assist, Throttle-assist) & Forecast, 2024 - 2032

E-bike Market Size

E-bike Market size was valued at USD 36.6 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032, due to enhanced infrastructure and the heightened emphasis on cost efficiency. Cities globally are investing in dedicated bike lanes, charging stations, and bike-sharing initiatives for facilitating easier e-bike usage.
 

Moreover, consumers are drawn to the substantial cost savings offered by electric solutions compared to conventional vehicles. These dual factors are stimulating the expansion of the ebikes industry, making it an increasingly attractive and practical choice for urban commuters and environmentally conscious individuals. For instance, in November 2023, Pure EV introduced its latest electric motorcycle model, the ecoDryft 350. This new variant stands out as the longest-range electric motorcycle within the 110-cc commuter category.

The e-bikes market is experiencing rapid growth, driven by increasing environmental awareness and urbanization trends. With heightened concerns about climate change and air pollution, more individuals are seeking eco-friendly transportation options like e-bikes. Moreover, rapid urbanization is leading to congestion in cities, making e-bikes an appealing solution for efficient and sustainable commuting.
 

These factors, combined, are fueling the demand for e-bikes as a practical and environmentally conscious mode of transportation. For instance, in January 2023, Liger Mobility introduced India's inaugural self-balancing e-scooter, available in two models: the X and the X Plus, deployed with an ability to maintain balance at low speeds.
 

Though the industry is witnessing promising growth, it also faces barriers. However, the high initial costs are reflecting the advanced technology embedded in e-bikes, showcasing their quality and performance. Regulatory complexities are signs of evolving standards, encouraging industry players to engage with policymakers for clearer guidelines.
 

E-bike Market Trends

Advancements in battery technology and the integration of smart features are other pivotal trends propelling the industry forward. Improved batteries provide longer range and quicker charging times for addressing range anxiety and convenience concerns. Smart features, such as GPS navigation, app connectivity, and digital displays enhance the user experience, making e-bikes more appealing and user-friendly. These technological advancements improve performance and cater to the evolving needs of modern riders, fueling market growth.
 

For instance, in November 2023, Orxa Energies unveiled the Mantis electric motorcycle in India, showcasing its bold street naked design. The bike features striking twin pod LED headlamps, a sleek cowl on the tank, and various intricate cuts and creases, embodying an aggressive aesthetic.
 

E-bike Market Analysis

Based on product type, the market is divided into trekking bike, cargo bike, city/urban bike. The city/urban bike segment accounted for 56% of the market share in 2023, attributed to its practicality and versatility. With more people embracing sustainable transportation in urban areas, e-bikes offer an eco-friendly and efficient solution for daily commutes and errands. Their sleek designs, lightweight frames, and electric assistance help with easy navigating of city streets. The rise in investments by cities on bike-friendly infrastructure will also surge the demand for city e-bikes.
 

Based on battery type, the market is categorized into Li-Ion, SLA, NiMH. The Li-Ion segment recorded around 80% of the e-bike market share in 2023, fueled by its superior performance and energy efficiency. Lithium-ion batteries offer higher energy density, a longer lifespan, and lighter weight compared to other battery types, making them ideal for e-bikes. As riders value quick charging capabilities, e-bikes are favored as they boast of an ability to sustain long distances on a single charge. The rapid advances in Li-ion e-bike technologies will further help meet the consumer demand for reliable and high-performing electric bicycles.
 

Asia Pacific e-bike market held over 60% of the revenue share in 2023, owing to the surge in demand for eco-friendly transportation solutions. The rapid urbanization, coupled with government initiatives for promoting electric mobility in the region has propelled the adoption of e-bikes. Manufacturers in countries like China and India have capitalized on this trend, producing a wide range of models to cater to diverse preferences, further favoring the regional product uptake.
 

E-bike Market Share

Yadea Technology Group Co., Ltd. and Giant Bicycles hold a significant market share of over 9% in the e-bike industry. These firms are strategically expanding their market presence through innovative product offerings and strategic partnerships. By developing a diverse range of e-bike models tailored to various consumer preferences, they are capturing a wider audience. Collaborations with urban planning authorities to create bike-friendly infrastructure is also boosting their visibility.
 

E-bike Market Companies

Major companies operating in the e-bike industry are:

• Accell Group
• Brompton Bicycle Ltd
• Giant Bicycles
• Merdia Bikes
• Polygon Bikes
• Rad Power Bikes, LLC
• Scott Sports Sa
• Tern
• Trek Bicycles
• Yadea Technology Group Co., Ltd.
   

E-bike Industry News

• In January 2023, Yulu launched its latest electric bicycle during the 2023 Consumer Electronics Show (CES) for unveiling innovative features and cutting-edge design.
   
• In October 2023, BGauss expanded its C12i electric vehicle range by introducing the new C12i EX electric scooter in the Indian market.
   

The E-bike market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipment (Units) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Cargo Bike
• Trekking Bike
• City/Urban Bike

Market, By Battery Type

• Li-ion
• NiMH

Market, By Motor

• Hub Motor
• Mid Motor

Market, By Propulsion type

• Pedal-Assist
• Throttle-Assist

Market, By Sales Channel

• Online
• Offline

The above information has been provided for the following Country:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Netherlands
  • Spain
  • Rest of Europe 
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • U.A.E.
  • South Africa
  • Saudi Arabia
  • Rest of MEA