Electric Bicycle Market Report Scope & Overview:

The Electric Bicycle Market is projected to reach USD 133.56 Billion by 2031 from USD 60.08 Billion in 2023 at a CAGR of 11% from year 2024 to 2031.

A bicycle with a merged electric motor drive mechanism and battery that produces power for main causing or assisting propulsion is known as an electric bike. Electric bikes with a tiny 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 Bicycle Market Revenue Analysis

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The global Electric Bicycle Market is growing due to favorable government legislation and policies encouraging the use of electric bicycles, as well as a rise in interest in riding as a fitness and recreational activity. On the other hand, the high cost of purchasing and maintaining electric bicycles, as well as the ban on their usage in large Chinese cities, limit expansion to some extent. Nonetheless, advancements in bicycle infrastructure and battery technology, as well as the growing popularity of linked electric bicycles, are expected to open up profitable prospects in the future.


E-MTB has seen a rapid increase in demand compared to other models, such as city / city bikes and cargo bikes, in recent years. It is perfectly suited for off-road roads, as its durability provides safety even in wet and slippery terrain. In many cities, MTBs are used not only for mountaineering but also for work or shopping. The main reason for the growing popularity of e-MTBs is their durability, which makes them very popular on road vehicles. E-MTBs have also become a symbol of status, as they appear to be more expensive and in style.


Government regulations and various names regarding e-bikes Some countries have national laws but the official authority and regulations for road use are determined by the provinces and provinces. Therefore, any changes / updates to e-bike control affect market demand. For example, China, the world's largest electric bicycle market, has announced a regulation of e-bikes, in which bikes will be classified as e-bikes only if they can pedal-assist, with a maximum speed of up to 25 km. / h, and have an engine power of up to 400 watts. Any e-bike that offers speeds over 25 km / h will be considered a moped. An e-bike under the new standards will be more expensive, which will not be different from empty bikes/scooters. Therefore, people may go looking for bicycles instead of e-bikes, thus disrupting the sale of e-bikes. Class-II and Class-III bikes are limited to the Asia Pacific region due to their high speed and throttle assistance to avoid traffic problems (except India, which allows phase-II). Many European countries, with the exception of Italy and the UK, have banned Class-II bikes. Class-III bikes have a limited presence in Europe. Therefore, the Class-II and Class-III markets have very limited access to the Asia Pacific and European regions. Currently, there is a lack of infrastructure, such as bike lanes and bike lanes, in developing countries, such as India and Taiwan, which can be considered a barrier to the e-bike market.


With the growing demand for e-bikes, there are technological advances in the Electric Bicycle Market. The connected e-bike is one such development, where the SIM module allows the e-bike to send and receive data to or from the cloud without a connected smartphone. Some of the key features offered by the e-bike include automatic emergency calls, integrated roaming, communication network connection, anti-crime system, and remote diagnostics. Bosch is one of the major players in the e-bike market, offering integrated electric bike solutions. For example, Bosch's Smartphone Hub can connect e-bikes to a smartphone and support passengers before and after their trip. Bosch's premium Lock function also transforms the Kiox computer into a computer security key. Nyon from Bosch determines terrorist power and frequency during the trip and uses this information to calculate cyclist performance and power consumption. On komoot-like platforms, integrated into the COBI.Bike app, millions of users can exchange information and discover new routes with recommendations and tips from the community.


The two most important features of the e-bike engine and battery. The engine provides power, and the battery saves and supplies power. Controlling the speed and torque of a car with a variety of speed and load conditions is one of the challenges for ebike manufacturers. With the limited amount of storage capacity available in a battery, the battery capacity should be used as fully as possible. Increasing the battery size will increase the capacity, which may increase the weight of the e bike. Therefore, determining the appropriate battery capacity regarding performance and width can be important for battery manufacturers. Consumers are focused on technology for devices such as smartphones and tablets. Therefore, e-bike manufacturers face the challenge of providing performance and ingenuity to e-bikes that can be compatible with smartphones and tablets at a minimal amount of power, either by a dedicated onboard device or by providing connectivity to a smartphone or tablet. .

Impact Of Covid-19:

Riders avoid public transportation due to the COVID-19 explosion and instead choose e-bikes as a safe, convenient, and economical mode. People commute to work has changed as a result of the COVID-19 epidemic, and cycling has become increasingly popular around the world. China, as a major bicycle manufacturer and major e-bike marketer, has seen an increase in demand in the region..People are turning to e-bike as a daily commodity due to government restrictions on public transport due to discriminatory standards.During the epidemic, industry players expect a short-term disruption in electric bike development and services due to the travel ban for vehicles such as cars and buses, which may open up new prospects for electric bike adoption.

Key Market Segmentation:

By Type

  • Pedal-assisted

  • Throttle-assisted

  • Pedelecs

  • Speed Pedelecs

  • Throttle on Demand

  • Scooter or motorcycle

BY Application

  • City/Urban

  • Trekking

  • Cargo

By Motor Type

  • Mid

  • Hub

By Drive Mechanism

  • Hub motor

  • Mid-drive

  • Others

By Battery Type

Electric Bicycle Market Segment Analysis

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  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • 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

Key Players:

The major key players in Global Electric Bicycle market are Yamaha Motor Corporation, Giant Manufacturing Co Ltd, Accell Group N.V, Aima Technology Group Co Ltd, Yadea Group Holdings Ltd. T, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd., Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation and others.

Yamaha Motor Corporation-Company Financial Analysis

Electric Bicycle Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 60.08 Billion
Market Size by 2031 US$ 133.56 Billion
CAGR CAGR of 11% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Type (Pedal-assisted, Throttle-assisted, Pedelecs, Speed Pedelecs, Throttle on Demand, Scooter or motorcycle)
• by Application ( City/Urban, Trekking, Cargo)
• By Motor type(Mid, Hub)
• by Drive Mechanism ( Hub motor, Mid-drive, Others)
• 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 Yamaha Motor Corporation, Giant Manufacturing Co Ltd, Accell Group N.V, Aima Technology Group Co Ltd, Yadea Group Holdings Ltd. T, Derby Cycle
Key Drivers • E-MTB has seen a rapid increase in demand compared to other models
RESTRAINTS • Government regulations and various names regarding e-bikes

Frequently Asked Questions

CAGR of the Electric Bicycle Market CAGR of 11% from year 2024 to 2031.

The Electric Bicycle Market Size was valued at USD 60.08 Billion in 2023.

The forecast period of Electric Bicycle Market is 2024-2031.

Asia Pacific is dominate the Electric Bicycle Market.

limited amount of storage capacity available in a battery.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Market 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 US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. The SNS Graph

9. Global Electric Bicycle  Market Segmentation, by Type

9.1 Introduction

9.2 Pedal-assisted

9.3 Throttle-assisted

9.4 Pedelecs

9.5 Speed Pedelecs

9.6 Throttle on Demand

9.7 Scooter or motorcycle

10.Global Electric Bicycle  Market Segmentation, by Application

10.1 Introduction

10.2 City/Urban

10.3 Trekking

10.4 Cargo

11. Global Electric Bicycle  Market Segmentation, By Drive Mechanism

11.1 Introduction

11.2 Cranes

11.3 Forklift

11.4 Excavator

11.5 Dozers

11.6 Others

12 Global Electric Bicycle  Market Segmentation, By Battery Type

12.1 Introduction

12.2 Lead acid

12.3 Lithium ion (Li-ion)

12.4 Others

13 Global Electric Bicycle  Market Segmentation, By Motor Type

13.1 Mid

13.2 Hub

14.Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2    Canada

14.2.3    Mexico

14.3        Europe

14.3.1    Germany

14.3.2    UK

14.3.3    France

14.3.4    Italy

14.3.5    Spain

14.3.6    The Netherlands

14.3.7    Rest of Europe

14.4        Asia-Pacific

14.4.1    Japan

14.4.2    South Korea

14.4.3    China

14.4.4    India

14.4.5    Australia

14.4.6    Rest of Asia-Pacific

14.5        The Middle East & Africa

14.5.1    Israel

14.5.2    UAE

14.5.3    South Africa

14.5.4    Rest

14.6        Latin America

14.6.1    Brazil

14.6.2    Argentina

14.6.3    Rest of Latin America

15.Company Profiles

15.1Yamaha Motor Corporation

15.1.1 Financial

15.1.2 Products/ Services Offered

15.1.3 SWOT Analysis

15.1.4 The SNS view

15.2 Giant Manufacturing Co Ltd

15.3 Accell Group N.V

15.4 Aima Technology Group Co Ltd

15.5 Yadea Group Holdings Ltd. T

15.6 Derby Cycle

15.7 Fuji-ta Bicycle Co., Ltd.

15.8 Giant Manufacturing Co., Ltd.

15.9 Jiangsu Xinri E-Vehicle Co., Ltd.

15.10 Mahindra & Mahindra Ltd. (GenZe)

15.11 Prodecotech, LLC

15.12 Tianjin Golden Wheel Group Co., Ltd.

15.13 Trek Bicycle Corporation

16.Competitive Landscape

16.1 Competitive Benchmark

16.2 Market Share analysis

16.3 Recent Developments


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Secondary Research

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Primary Research

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Data Bank Validation

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