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 (Throttle-assist, Peddle-assist), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2022 – 2030

Electric Bike industry Statistics

E-bike Market size exceeded USD 25 billion in 2021 and is projected to expand at a CAGR of over 3.5% from 2022 to 2030. Increasing consumer preference and popularization across varied countries will spur the market expansion.
 

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Rising government initiatives to control carbon emissions have encouraged public & private organizations to promote the use of e-bikes, thereby increasing product awareness among the public. Moreover, government organizations and private players are also collaborating to deploy e-bikes in various stations and establish rental e-bikes services.
 

The rising trend of home delivery and e-bike sharing services in urban areas, primarily in developing nations, will also transform the industry outlook. Companies partaking in the market share are working to cater to the ever-growing product demand and expanding their customer base by partnering with dealers and engaging in rigorous research and development activities to support technological developments in the sector.
 

High-priced components may restrain industry progression

The high cost of these bikes is a major factor restraining e-bike market growth. E-bikes have expensive components, such as motors, controllers, and batteries, which make them comparatively costlier. These bikes vary in the range of motor capacity – the larger the capacity, the more expensive the e-bike. E-bikes with 48-72V capacity motors are known to be the most efficient & expensive. Nonetheless, the development of advanced battery technologies will enable industry players to enhance the performance and range of e-bikes in the coming years, which will positively influence the product scenario.
 

Rising benefits of e-bikes for short-distance travelling

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The city/urban bike segment held 50% of the revenue share in 2021. City bikes are gaining remarkable demand on account of fundamental difficulties, such as traffic congestion, densely populated places, health hazards, pollution, and fuel expenditure. However, e-bikes that cover short-distance rides or within cities assist people in urban areas in solving their problems, thereby bolstering product uptake.
 

Low maintenance and smooth operation to help hub motor gain traction

The hub motor segment in the electric bike market is anticipated to reach USD 25 billion by 2030 owing to its various advantages as compared to mid-drive motors, such as less maintenance and smoother & quieter operations. Hub motors eliminate the powerplant and negate the need for a heavy transmission, differential, driveline, and axles, thereby propelling the segment growth.
 

SLA-powered e-bikes to benefit from low-cost and recyclability factors

The SLA powered e-bike segment is expected to record a valuation of more than USD 4 billion by 2030. The sealed lead acid-powered bikes have low-cost batteries and easy recyclability, which makes them suitable for day-to-day use. The burgeoning preference for sustainable bikes with maximum convenience and comfort will also augment the demand for SLA battery-equipped e-bikes.
 

Increasing customer shift towards online platforms

The online channel segment is estimated to attain 5.5% growth rate till 2030. E-bike manufacturers are shifting to online channels to allow new & current businesses to tap into untapped markets and expand their customer base by reaching out to potential customers without having to set up a physical store. Additionally, recent customer preference for online shopping has also pushed manufacturers to sell products on e-commerce platforms.
 

High investment and government participation across APAC region

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The Asia Pacific region accounted 65% of the global e-bike market share in 2021 impelled by high investments in e-bike battery technology. E-bike manufacturers are strongly investing in strategic partnerships and new product developments to build innovative & higher-efficiency e-bikes. Another region that may emerge as a key revenue hub is Latin America. One of the common mobility activities in the LATAM region is bike leasing, which is fostering the industry growth. Furthermore, several startups & companies are expanding their market presence in Latin America by catering to the demand for bikes on lease.
 

Strategic acquisitions & mergers by eminent players

Top participants operating in the e-bike market are AIMA Technology Co., Accell Group, Giant Bicycles, Rad Power Bikes, Pedego Electric Bikes, Specialized Bicycle Components, Electric Bike Technologies, Inc., Trek Bicycles, Sunra, and Yadea.
 

The shifting consumer focus on enhancing the demand for environmentally friendly mobility solutions and the growing population are fueling the adoption of e-bikes globally. In addition, manufacturers are also engaging in partnerships with the government and other public organizations to grow in the market.
 

Impact of COVID-19 on the industry trends

The COVID-19 pandemic has been pivotal for the growth of the electric bike market. Due to the government imposed stringent norms on public transport systems to avoid exposure to the coronavirus, there was an upsurge in the use of personal bikes. Moreover, with rising climate consciousness, many people were instantly attracted to electric bikes as an easy, convenient, and eco-friendly option.
 

This emerged as a turning point for the industry as more and more people started buying e-bikes for their inner-city travels and more. The United States alone recorded around a 145% hike in electric bike sales in 2020-2021. This accelerated awareness among people regarding the environmental and health benefits associated with these bikes, improving the market standing of e-bikes in the automotive sector.
 

The e-bike market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in “USD” and shipments in “units” from 2018 to 2030, for the following segments:

Market, By Product

• Trekking bike
• Cargo bike
• City/Urban bike

Market, By Battery

• Lithium-Ion
• SLA
• NiMH

Market, By Motor

• Mid motor
• Hub motor

Market, By Propulsion type

• Throttle-assist
• Peddle-assist

Market, By Sales channel

• Online
• Offline

The above information has been provided for the following regions and countries:

• North America
  • Canada
  • U.S.
• Europe
  • Netherlands
  • UK
  • France
  • Germany
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Latin America
  • Mexico
  • Brazil
• MEA
  • UAE
  • Saudi Arabia
  • South Africa