E-Bike Market by Component (Battery, Brake System, Crank Gear), Class (Class-I, Class-II, Class-III), Battery, Speed, Ownership, Usage - Global Forecast 2024-2030
The E-Bike Market size was estimated at USD 49.60 billion in 2023 and expected to reach USD 53.74 billion in 2024, at a CAGR 8.78% to reach USD 89.44 billion by 2030.
The e-bike market comprises the sale of electric bicycles, commonly known as e-bikes, which are bicycles that integrate an electric motor and a rechargeable battery to provide varying levels of pedal assistance to riders. The primary applications for e-bikes include commuting, leisure cycling, and sports-based activities such as mountain biking and racing. E-bikes offer cheaper and more affordable mobility solutions than Internal Combustion Engine (ICE) vehicles. The maintenance cost of battery bikes is also reduced with fewer moving parts. The adoption of e-bikes is rapidly surging due to rising consumer inclination towards e-bike and their availability on online channels. Governments worldwide are taking initiatives to adopt fuel-efficient vehicles and providing subsidies and tax benefits to e-bike users. Urbanization and increasing traffic congestion have led to the need for alternative transportation methods that are efficient and eco-friendly, which have significantly increased the market demand. However, underdeveloped charging and cycling infrastructure in developing countries and high initial costs of e-bikes compared to traditional bicycles may deter potential customers and is a concerning factor for market growth. Increasing investments from key players in research & development activities point towards potential improvements in e-bike technology, which has led to enhanced performance, increased durability, and reduced costs, providing additional growth opportunities within the market.
Regional Insights
Electric bikes are becoming increasingly popular in the Americas region due to the rise in fuel prices in recent years, and it is also a convenient micro-mobility transportation option in the region. Recent patents filed in this region include advancements in battery technology and improved safety features. Investments have also been made towards expanding charging infrastructure for electric vehicles. The Asia-Pacific region is witnessing high growth due to the surging young population and the rise in interest in cycling as a recreational activity. The market players in the region are attracting huge investments from the public and private sectors. In the European region, market players invest in research and development to implement innovations in e-bikes. Governments such as Germany have implemented dedicated plans to promote electric mobility through public initiatives encouraging cycling with financial incentives and investments in research & development. The market players are expanding their business operations, abiding by laws and legalities set by regulatory authorities regarding e-bikes. Middle-east and African countries are increasingly adopting e-bikes as they provide an easy and affordable option for transport.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the E-Bike Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing use of shared mobility solutions and supportive government initiatives for e-bikes
- High availability of e-bikes through online distribution channels
- Market Restraints
- High cost related to e-bikes and issues related to product recall
- Market Opportunities
- Rapid inclination towards connected e-bikes
- Emerging development of advanced battery pack for e-bikes
- Market Challenges
- Underdeveloped charging & cycling infrastructure and issues related to rental e-bikes
- Market Segmentation Analysis
- Battery: Improved Performance of E-Bikes Based on Various Battery Types
- Component: Advancements in Light Weight Components Materials Utilized for E-Bikes Manufacturing
- Class: Emergence of Class-III e-bike manufacturing to provide a more efficient riding experience
- Speed: Expanding use of 25-45 Kmph speed-ranged e-bikes for commercial purposes
- Ownership: Emerging trend and popularity of shared e-bikes globally
- Usage: Significant demand for mountaineering and trekking e-bikes owing to the rise in recreational activities
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the E-Bike Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the E-Bike Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- HeyBike To Launch Upgraded Mars 2.0 Folding E-Bike In October 2023
HeyBike has planned to launch the Mars 2.0 Folding E-Bike. Mars 2.0 is an e-bike that boasts a powerful 750-watt rear hub motor, providing a peak power output of 1,200 watts and a maximum speed of 28 miles per hour. The removable battery pack has a capacity of 48 volts and 5 amperage, and it can be conveniently charged in less than six hours using a 54.6 volt, 2-amp charger. This e-bike offers an exceptional combination of power, speed, and convenience, making it an ideal choice for riders looking for an exhilarating and efficient mode of transportation.
Velotric Launches Two New Utility and Cargo E-Bikes, Challenging the Market
Velotric recently launched two new utility e-bikes, the Go and Packer models. These bikes are designed for riders requiring additional cargo and utility features. Equipped with 48V 14.4 Ah UL2271 certified batteries and boasting a capacity of 690 Wh, these e-bikes provide exceptional power and endurance. It ensures the highest safety and reliability standards, providing the riders with a seamless and efficient riding experience while effortlessly transporting their cargo.
Yamaha Releases Two New “BOOSTER” eBikes
Yamaha recently introduced two new electric Urban Mobility models, the BOOSTER Easy eBike and the BOOSTER S-pedelec. The launch of these innovative and stylish models aligns with Yamaha's Switch ON strategy, which aims to provide zero-emission personal transportation solutions through their expanding line of electric vehicles.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the E-Bike Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the E-Bike Market, highlighting leading vendors and their innovative profiles. These include Accell Group N.V., Addmotor Tech., AIMA Technology Group Co., Ltd., AmericanElectric, Ampler Bikes OÜ, Anywhere Bikes, Ariel Rider Ebikes, Aventon, Beistegui Hermanos S.A., Brompton Bicycle Limited, Cowboy SA, ENERMAX Technology Corporation, Giant Manufacturing Co., Ltd., Gocycle by Karbon Kinetics Ltd., Hero Cycles Limited, HeyBike, Inc., Juiced Riders, Inc., Keego Mobility, Lectric eBikes, LLC, Lyft, Inc., Merida Industry Co., Ltd., Mondraker by Blue Factory Team S.L.U., myStromer AG, PEDEGO INC., PIERER Mobility AG, Pon Holdings B.V., Porsche eBike Performance GmbH, Rad Power Bikes Inc., Ride1Up, Inc., Riese & Müller GmbH, SCOTT Sports SA, Shimano Inc., Smalo by Darad Innovation Corporation, Solex Cycle North America Inc., Specialized Bicycle Components, Inc., Trek Bicycle Corporation, VanMoof B.V., VOLT E BYK, Yadea Technology Group Co., Ltd., and Yamaha Motor Co., Ltd..
Market Segmentation & Coverage
This research report categorizes the E-Bike Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Battery
- Brake System
- Crank Gear
- Electric Motor
- Hub Motor
- Mid Motor
- Frame With Fork
- Motor Controller
- Wheels
- Class
- Class-I
- Class-II
- Class-III
- Battery
- Lead Acid
- Lithium-Ion
- Speed
- 25-45 Kmph
- Up to 25 Kmph
- Ownership
- Personal
- Shared
- Usage
- Cargo
- City & Urban
- Mountaineering & Trekking
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing use of shared mobility solutions and supportive government initiatives for e-bikes
- 5.1.1.2. High availability of e-bikes through online distribution channels
- 5.1.2. Restraints
- 5.1.2.1. High cost related to e-bikes and issues related to product recall
- 5.1.3. Opportunities
- 5.1.3.1. Rapid inclination towards connected e-bikes
- 5.1.3.2. Emerging development of advanced battery pack for e-bikes
- 5.1.4. Challenges
- 5.1.4.1. Underdeveloped charging & cycling infrastructure and issues related to rental e-bikes
- 5.2. Market Segmentation Analysis
- 5.2.1. Battery: Improved Performance of E-Bikes Based on Various Battery Types
- 5.2.2. Component: Advancements in Light Weight Components Materials Utilized for E-Bikes Manufacturing
- 5.2.3. Class: Emergence of Class-III e-bike manufacturing to provide a more efficient riding experience
- 5.2.4. Speed: Expanding use of 25-45 Kmph speed-ranged e-bikes for commercial purposes
- 5.2.5. Ownership: Emerging trend and popularity of shared e-bikes globally
- 5.2.6. Usage: Significant demand for mountaineering and trekking e-bikes owing to the rise in recreational activities
- 5.3. Market Trend Analysis
- 5.3.1. Increasing government initiatives to encourage use of e-bike coupled with introduction of smart e-bikes in the Americas region
- 5.3.2. Significant presence of e-bike manufacturers in the APAC region
- 5.3.3. Ongoing advancements and integration of digital technologies in the e-bikes in the EMEA region
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 6. E-Bike Market, by Component
- 6.1. Introduction
- 6.2. Battery
- 6.3. Brake System
- 6.4. Crank Gear
- 6.5. Electric Motor
- 6.6. Frame With Fork
- 6.7. Motor Controller
- 6.8. Wheels
- 7. E-Bike Market, by Class
- 7.1. Introduction
- 7.2. Class-I
- 7.3. Class-II
- 7.4. Class-III
- 8. E-Bike Market, by Battery
- 8.1. Introduction
- 8.2. Lead Acid
- 8.3. Lithium-Ion
- 9. E-Bike Market, by Speed
- 9.1. Introduction
- 9.2. 25-45 Kmph
- 9.3. Up to 25 Kmph
- 10. E-Bike Market, by Ownership
- 10.1. Introduction
- 10.2. Personal
- 10.3. Shared
- 11. E-Bike Market, by Usage
- 11.1. Introduction
- 11.2. Cargo
- 11.3. City & Urban
- 11.4. Mountaineering & Trekking
- 12. Americas E-Bike Market
- 12.1. Introduction
- 12.2. Argentina
- 12.3. Brazil
- 12.4. Canada
- 12.5. Mexico
- 12.6. United States
- 13. Asia-Pacific E-Bike Market
- 13.1. Introduction
- 13.2. Australia
- 13.3. China
- 13.4. India
- 13.5. Indonesia
- 13.6. Japan
- 13.7. Malaysia
- 13.8. Philippines
- 13.9. Singapore
- 13.10. South Korea
- 13.11. Taiwan
- 13.12. Thailand
- 13.13. Vietnam
- 14. Europe, Middle East & Africa E-Bike Market
- 14.1. Introduction
- 14.2. Denmark
- 14.3. Egypt
- 14.4. Finland
- 14.5. France
- 14.6. Germany
- 14.7. Israel
- 14.8. Italy
- 14.9. Netherlands
- 14.10. Nigeria
- 14.11. Norway
- 14.12. Poland
- 14.13. Qatar
- 14.14. Russia
- 14.15. Saudi Arabia
- 14.16. South Africa
- 14.17. Spain
- 14.18. Sweden
- 14.19. Switzerland
- 14.20. Turkey
- 14.21. United Arab Emirates
- 14.22. United Kingdom
- 15. Competitive Landscape
- 15.1. Market Share Analysis, 2023
- 15.2. FPNV Positioning Matrix, 2023
- 15.3. Competitive Scenario Analysis
- 15.3.1. HeyBike To Launch Upgraded Mars 2.0 Folding E-Bike In October 2023
- 15.3.2. Velotric Launches Two New Utility and Cargo E-Bikes, Challenging the Market
- 15.3.3. Yamaha Releases Two New “BOOSTER” eBikes
- 15.3.4. Flyer Electric Bikes Expanding Distribution, Offering Free E-Bikes to Shops
- 15.3.5. Yulu, Magna partner to set up battery-charging, swapping network in India
- 15.3.6. MURF Electric Bikes Partners with GEF Capital; Plans for National Expansion and Product Innovation
- 15.3.7. Yadea Targets the U.S. Market with the Launch of Three New E-bike Models at CES 2023
- 15.3.8. Hero Motors, Yamaha joint venture opens factory for electric cycle drive units
- 15.3.9. The Rohatyn Group Completes Acquisition of E-Bike Production Company, Leader From KJK Capital
- 16. Competitive Portfolio
- 16.1. Key Company Profiles
- 16.2. Key Product Portfolio
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook