E-bike Market Size to Worth Around US$ 44.08 Billion by 2032

The global e-bike market size was valued at USD 17.56 billion in 2022, and it is projected to reach around USD 44.08 billion by 2032, poised to grow at a CAGR of 9.89% from 2023 to 2032.

E-bike Market Size 2023 to 2032

Key Takeaway:

  • By motor type, the hub motor segment accounted for 72% of revenue share in 2021.
  • The Li-Ion battery type segment is growing at a CAGR of 4% during the forecast period.
  • The throttle segment is expected to grow at a CAGR of 16% over the forecast period.

Electric bikes are foreseen as a flexible and eco-friendly mode of transportation. Customers’ perception about e-bikes is as they are ideal substitute for smart cars, scooters, and public transport. These bikes help in tackling traffic jams, owing to the compact size of bikes and can attain high speed with minimum efforts plus they also provide health benefits owing to the act of peddling. These factors are raising the popularity of e-bikes across the globe.

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Global E-bike Market Report Highlights:

  • The Asia Pacific captured major portion of revenue as well as consumption share of more than 90% in the year 2019. Significant production of e-bikes in China is the major factor that drives the market growth in the region.
  • Based on speed, up to 25 km/h is the most opportunistic segment owing to the no regulations applied on the usage of e-bike under 25 kmph speed range. In 2020, up to 25 Km/h segment dominated the market with around 66.62 % share in terms of revenue of the total market. In addition, up to 25 Km/h is projected to grow at highest CAGR of 9.59% during forecast period from 2021 to 2030.
  • On the basis of battery type, li-ion are the most lucrative segment that register the fastest growth over the analysis period owing to numerous on-going research to enhance the battery performance and reduce its overall operating cost and size of the battery.
  • By class, in 2020, Class 1 segment dominated the market with around 45.80% share in terms of revenue of the total market. In addition, Class 1 is projected to grow at the highest CAGR of 9.80% during forecast period from 2021 to 2030.
  • By motor type, in 2020 the hub segment dominated the market with around 77.28 % share in terms of revenue of the total market. On the other hand, mid-drive is projected to grow at highest CAGR of 10.81% during forecast period from 2021 to 2030.
  • By modein 2020, pedal assist segment dominated the market with around 43.86% share in terms of revenue of the total market. In addition, pedal assist is projected to grow at highest CAGR of 10.05% during forecast period from 2021 to 2030.
  • By application, in 2020, city/urban segment dominated the market with around 60.71% share in terms of revenue of the total market. On the other hand, mountain/trekking is projected to grow at the highest CAGR of 10.20% during forecast period from 2021 to 2030.

COVID-19 Impact Analysis:

  • The automotive industry was badly impacted due to the outbreak of COVID-19 in the year 2020 and witnessed a decline of nearly 20% in the automotive sales
  • Mobility service sector was among the severely impacted industries by the coronavirus pandemic as transit system and Uber registered a fall in passenger of approximately 90%-70%
  • Although, the automotive sector is struggling through this pandemic time, the electric bike (e-bike) industry expected to witness promising growth in the near future
  • The import figure of e-bikes in Europe is slightly impact in the starting four months of the COVID-19 outbreak with a decline of nearly 3%

Scope of the E-bike Market

Report Coverage Details
Market Size in 2023 USD 17.56 Billion
Market Size by 2032 USD 44.08 Billion
Growth Rate from 2023 to 2032 CAGR of 9.89%
Largest Market Asia Pacific
Fastest Growing Market Middle East & Africa
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Class, Speed, Battery Type, Motor Type, Mode, Application, Region

Global E-bike Market News:

  • In March 2021, SUNRA introduced a new e-bike for riders who want more, more distance, more manpower saving, more style & more fun. All of Sunra e-bikes are designed with pedal-assist motors that are located in the same area as your pedals. They feel natural while pedaling, are easy to shift on hills, and provide a boost of smooth, consistent power with every pedal stroke you take.
  • In May 2019, Giant Manufacturing announced to join a B2B platform ConnectBike. Under this project the company will develop more than 300,000 e-bike for providing connected bike sharing platform in the Netherlands and Belgium by 2022.
  • In April 2019, Accell Group has signed a contract with a Dutch hotel chain for the delivery of 1,300 Sparta e-bikes via B2B partner Zilt bikes. Fletcher Hotels will use the e-bikes, painted in its company colours, to expand its rental portfolio.
  • In July 2018, Giant Bicycle released its new eMTB models for model year 2019, the Trance E+ and the Stance E+. These models are more based on the Trance and Stance traditional mountain bikes that make their line more consistent. The bikes are called the Trance E+ and Stance E+, respectively.
  • In August 2017, Germany based e-bike manufacturer, Derby Cycle introduced four new e-bike model families Endeavour (Trekking), Entice (Cross), Image (City) and Berleen (Urban) under its brand named Kalkhoff. The new e-bike are integrated with mid-engine and fully integrated battery

Read Also: Automotive Thermal Systems Market Size US$ 64.29 Bn by 2032

Key market players profiled under the global e-bike market:

  • Accell Group
  • 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.
  • Trek Bicycle Corporation
  • Yamaha Motor Co. Ltd.

The global e-bike market research report classifies the market as follows:

By Class

  • Class 1
  • Class 2
  • Class 3

By Speed

  • Up to 25 km/h
  • 25-45 km/h

By Battery Type

  • Lithium-ion
  • Nickel Metal Hydride (NiMH)
  • Lead Acid
  • Others

By Motor Type

  • Hub
  • Mid-drive
  • Others

By Mode

  • Pedal Assist
  • Throttle
  • Speed Pedelecs
  • Scooter or Motorcycle
  • Others

By Application

  • Mountain/trekking
  • City/urban
  • Cargo
  • Others

By Component

  • Battery
  • Electric Motor
  • Frame with Fork
  • Wheels
  • Crank Gear
  • Brake System
  • Motor Controller

By Ownership

  • Shared
  • Personal

By Regional Outlook

  • North America
    • US
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

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