E-City/Urban Bike Market Size & Share 2024 to 2032
Market Size by Battery (Lithium-Ion, SLA, NiMH), by Motor (Mid Motor, Hub Motor), by Sales Channel (Offline, Online), by Propulsion Type (Pedal, Throttle) & Forecast.
Report ID: GMI8500
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Published Date: March 2024
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
E-City/Urban Bike Market Size
E-City/Urban Bike Market size was valued at USD 20.8 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032, led by the growing prominence of environmental sustainability and the subsequent demand for eco-friendly transportation options.
E-City/Urban Bike Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Lately, e-city/urban bikes are largely integrated with GPS tracking, Bluetooth connectivity, smartphone integration, and app-controlled functionalities to enhance user experience, provide riders with real-time navigation, fitness tracking, theft prevention, and remote diagnostics. To illustrate, in September 2023, Netherlands-based bicycle manufacturer Gazelle Eclipse unveiled its new comfort-trekking electric bike deployed with GPS theft-tracker. Rising incursion with smart infrastructure and urban mobility platforms is further augmenting the utility and appeal of e-bikes in urban environments. Moreover, the convenience, affordability, and sustainability of e-bikes as an alternative to cars or public transportation is another major factor driving the market growth.
The rising advances in battery technologies to improve the performance and usability of e-bikes will play a crucial role in the market expansion. Improvements in battery chemistry, energy density, and charging infrastructure are extending the range, limiting the weight, and shortening the charging times of e-bike batteries. The growing development of swappable battery systems and fast-charging solutions is further enhancing the practicality and convenience of e-bikes for urban commuters.
However, the escalating costs of electric components, such as motors and batteries is contributing to the overall price of e-bikes, making them less affordable for some consumers, especially in regions with lower disposable income levels. The lack of adequate infrastructure, including dedicated bike lanes, charging stations, and secure parking facilities may also hinder the market growth to some extent.
E-City/Urban Bike Market Trends
The proliferation of shared e-bike schemes and bike-sharing programs in many cities worldwide is helping cater to the growing demand for convenient and affordable transportation solutions. For instance, in June 2022, payment-technology leader Mastercard joined forces with Freebike to introduce the world’s first-ever tap as well as ride electric bike sharing system in Helsinki. These services offer flexible access to e-bikes for short trips while providing first-mile and last-mile connectivity to complement the existing public transportation systems. The expansion of shared mobility services is also driving the preference for e-city/urban bikes among tourists, commuters, and residents.
E-City/Urban Bike Market Analysis
Based on battery type, the market is divided into SLA, Li-ion and NiMH. The Li-ion segment dominated around USD 14 billion in 2023 and is set to reach USD 22 billion by 2032, majorly led by advantages like high energy density, longevity, and relatively low weight. Lithium-ion batteries are increasingly preferred as they are more environmentally friendly compared to other battery chemistries, such as lead-acid batteries, as they contain fewer toxic materials and are easier to recycle. Growing suitability for commuters and riders who need to travel longer distances without worrying about running out of battery power will also favor the product demand.
Based on motor, the market is categorized into hub motor and mid motor. The hub motor segment held over 60% of the e-city/urban bike market share in 2023, due to their simplicity and reliability offered to consumers seeking low-maintenance transportation solutions as opposed to mid-drive systems. Given their affordability, hub motor-based e-bikes are more accessible to a broader range of consumers.
Surging strides in hub motor technology for improved performance of torque, efficiency, and power output along with ease of accessibility in variety of designs will also open new product innovation opportunities. To cite an instance, in November 2023, Whyte bikes released its new range of RHeO urban e-bike by deploying the KMC Kynamic hub motor system.
Asia Pacific e-city/urban bike market accounted for 60% of the revenue share in 2023. The surging urbanization, mainly in China, Japan, and South Korea along with the increasing environmental concerns is driving the need for sustainable transportation solutions. In addition to growing government support for the adoption of e-bikes, there are continuous improvements in battery technology, motor efficiency, and integration of smart features across the region.
To illustrate, in December 2023, two graduates of IIT Delhi in India launched Creatara, an innovative EV for the urban mobility space. The new e-bike helps revolutionize urban commuting by offering a unique blend of customization, safety, and state-of-the-art technology. The strong focus on safety regulations and standards is another major trend benefiting the regional product acceptance.
E-City/Urban Bike Market Share
Trek Bicycles and Giant Bicycles hold a significant market share of over 7% in the e-city/urban bike industry. These companies are setting up strategies, including partnerships and acquisitions, R&D investments, and production expansions are some of the pivotal initiatives undertaken by leading players in the e-city/urban bikes industry. Companies, such as Giant Bicycles, and Trek Bicycles among others, are also eyeing new product developments to cater to the rising consumer demands.
E-City/Urban Bike Market Companies
Major companies operating in the e-city/urban bike industry are:
E-City/Urban Bike Industry News
The e-city/urban 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:
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Market, By Battery Type
Market, By Motor
Market, By Propulsion type
Market, By Sales Channel
The above information has been provided for the following Country:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
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Trust & credibility
Verified data sources
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GMI archive
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Parameters studied & evaluated
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