The E-bikes Market Size was valued at USD 51 billion in 2022 and is expected to reach USD 122.7 billion by 2030 and grow at a CAGR of 11.6% over the forecast period 2023-2030.
A bicycle with an integrated electric motor drive mechanism and battery that produces power for causing or assisting propulsion is known as an electric bike. Electric bikes with a modest motor to help the rider's pedal force to more powerful e-bikes that create enough power to totally operate the bike using throttle are all available globally. Electric bicycles are a versatile, eco-friendly, and fashionable form of transportation. Consumers regard them as a viable alternative to scooters, smart cars, and public transportation. E-bikes help to reduce traffic congestion because of their reduced size, ability to reach higher speeds with less effort, and health advantages gained from pedaling. These considerations have resulted in an increase in the popularity of electric bikes around the world.
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By building and developing e-bikes that can interact with users' cellphones and offer real-time information on speed and battery level, e-bike manufacturers are working on improving the complete user interface. As a result, customers are getting more interested in e-bikes. With an increasing number of companies joining the market and increased demand for e-bikes in last-mile delivery, India's electric bike industry is expected to grow rapidly.
KEY DRIVERS:
Demand for eco-friendly transportation is expected to rise, propelling the market growth.
Government measures to encourage the usage of electric bikes are being implemented.
The market is likely to develop as gasoline costs rise and interest in cycling as a recreational activity grows.
RESTRAINTS:
The high sticker price of most e-bikes is one of the major constraints limiting growth in the global e-bike market.
Purchasing batteries is inexpensive. Maintenance can be costly and time-consuming.
In the worldwide e-bike market, there are distribution issues.
OPPORTUNITIES:
Improvements in bicycle infrastructure and battery technology.
Connected e-bikes are becoming more popular.
CHALLENGES:
The difficulty of delivering functionality and intelligence in e-bikes.
Controlling the motor's speed and torque throughout a wide variety of speed and load circumstances.
Commuters are avoiding public transit due to the COVID-19 outbreak. E-bikes are regarded as a safe, convenient, and cost-effective mode of mobility. As cities emerge from quarantine, e-bike makers are increasingly seen as an appropriate form of mobility. Due to the outbreak of the COVID-19 pandemic, the market's growth slowed significantly in the first half of 2020. Lockdowns were implemented around the world, resulting in the temporary shutdown of various production and assembly facilities. As a result, e-bikes are in high demand as a cost-effective, safe, and convenient form of transportation.
Furthermore, due to government limits on public transit as a result of social-discrimination guidelines, commuters are turning to the bicycle as a form of daily mobility. As a result, the electric bike business is one of the industries that is expected to grow faster after Covid-19. However, in the first quarter of 2020, e-bike sales were hampered by the closure of e-bike retailers owing to lockdown.
The global market is divided into pedelecs, throttle on demand, speed pedelecs, scooters, or motorcycles based on the product segment. E-bikes pedelecs are proven to be the future's best means of mobility. They're also an excellent means of transportation, especially for recreational activities, because they mix the fun of riding with the convenience of a car.
According to the propulsion segment, the global market is divided into pedal-assisted, and throttle-assisted. Pedal-assisted e-bikes provide more power from the motor, allowing riders to pedal more effortlessly and quickly. Furthermore, these bikes are commonly used on hills and hilly routes. Throttle-assisted e-bikes are becoming more popular due to the power delivered directly to the engine by the throttle, eliminating the need to pedal manually.
Based on the battery type segment, the global market has been divided into Lead-acid, Lithium-ion, and Others. Lead-acid batteries dominated the industry, accounting for almost 54% of the total market share. The segment's rise can be ascribed to lead-acid batteries' multiple advantages, such as low cost and durability. However, because these batteries are heavy and drain quickly, their use is expected to dwindle in the coming years.
By Product Type:
Pedelecs
Throttle on Demand
Speed Pedelecs
Scooter or motorcycle
By Propulsion:
Pedal-assisted
Throttle-assisted
By Battery Type:
Lead-acid
Lithium-ion (Li-ion)
Others
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During the projected period, Asia Pacific is expected to be the largest market for e-bikes. Due to rising e-bike sales in these nations, India, Japan, South Korea, and Taiwan are prospective markets in this area. Due to its ruggedness and high-performance design, the mountain e-bike is likely to account for a large share of the bike market during the forecast period. Class I e-bikes are likely to be the largest market over the projection period, as nations such as China, Japan, South Korea, and Taiwan only allow class-I e-bikes with a maximum speed of 25 km/h and no throttle assist.
The European Union is the second candidate. The strict automobile pollution requirements that governments around Europe have imposed on drivers and bike users are mostly driving growth in this region. This is one of the reasons why sales in the European Union have risen considerably. Another aspect is that, in light of COVID-19, people are increasingly exercising social separation. The United States of America is ranked third. The rest of the globe is in fourth place.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Accell Group, Pon Bike, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Merida Industry Co., Ltd., Trek Bicycle Corporation, and Yamaha Motor Co., Ltd. are some of the affluent competitors with significant market share in the E-bikes Market.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 51 Billion |
| Market Size by 2030 | US$ 122.7 Billion |
| CAGR | CAGR of 11.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Product (Pedelecs, Throttle on Demand, Speed Pedelecs, Scooter or motorcycle) • by Propulsion (Pedal-assisted, Throttle-assisted) • by Battery Type (Lead-acid, Lithium-ion (Li-ion), Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Accell Group, Pon Bike, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Merida Industry Co., Ltd., Trek Bicycle Corporation, and Yamaha Motor Co., Ltd. |
| Key Drivers | •Demand for eco-friendly transportation is expected to rise, propelling the market growth. •Government measures to encourage the usage of electric bikes are being implemented. |
| RESTRAINTS | •The high sticker price of most e-bikes is one of the major constraints limiting growth in the global e-bike market. •Purchasing batteries is inexpensive. Maintenance can be costly and time-consuming. |
A bicycle with an integrated electric motor drive mechanism and a battery that produces power for causing or assisting propulsion is known as an electric bike.
E-bikes Market Size was valued at USD 51 billion in 2022.
The forecast period of the E-Bikes Market is 2023-2030.
Asia Pacific region is dominating the E-Bikes Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global E-bikes Market Segmentation, by Product type
8.1 Pedelecs
8.2 Throttle on Demand
8.3 Speed Pedelecs
8.4 Scooter or motorcycle
9. Global E-bikes Market Segmentation, by Propulsion
9.1 Pedal-assisted
9.2 Throttle-assisted
10. Global E-bikes Market Segmentation, by Battery Type
10.1 Lead-acid
10.2 Lithium-ion (Li-ion)
10.3 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Aima Technology Group Co. Ltd.,
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Accell Group
12.3 Pon Bike
12.4 Derby Cycle
12.5 Fuji-ta Bicycle Co., Ltd.
12.6 Giant Manufacturing Co., Ltd.
12.7 Jiangsu Xinri E-Vehicle Co., Ltd.
12.8 Mahindra & Mahindra Ltd. (GenZe)
12.9 Prodecotech, LLC
12.10 Tianjin Golden Wheel Group Co., Ltd.
12.11 Merida Industry Co., Ltd.
12.12 Trek Bicycle Corporation
12.13 Yamaha Motor Co., Ltd.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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