U.S. E-bike Market Size, Share & Trends Analysis Report By Propulsion Type, By Drive Type, By Application, By Battery, By End-use (Personal, Commercial), And Segment Forecasts, 2023 - 2030

U.S. E-bike Market Size, Share & Trends Analysis Report By Propulsion Type, By Drive Type, By Application, By Battery, By End-use (Personal, Commercial), And Segment Forecasts, 2023 - 2030

U.S. E-bike Market Growth & Trends

The U.S. e-bike market size is expected to reach USD 7.16 billion by 2030, registering a CAGR of 15.6% during the forecast period, according to a new report by Grand View Research, Inc. The rise in sales of electric-bikes (e-bikes) in the U.S. is primarily attributed to the growth in the adoption of e-bikes during the COVID-19 pandemic outbreak as consumers chose alternative ways to get around. Also, the spike in gas prices and increasing awareness about opting for e-bikes for shorter and multiple commutes over a car are the factors anticipated to drive the market growth. In addition, the rising number of imported e-bikes and the growing number of local manufacturers helped the market to witness price reduction thereby, proving affordable deals to consumers. Thus, the market is expected to provide numerous growth opportunities to the stakeholders over the forecast period.

Furthermore, rising traffic congestion on the streets of the U.S. along with the growing number of government schemes provide substantial benefits to consumers. For instance, in March 2023, a bill, associated with the Electric Bike Incentive Kickstart for the Environment Act of the year 2021 was amended to enhance the adoption of e-bikes in the country. As per the new bill, the purchaser is poised to get a refundable tax credit of 30% up to USD 1,500 on the purchase of a new e-bike.

The rising interest of customers not only for recreation but also for daily transportation purposes enabled government officials to amend the original bill. Subsequently, the demand for e-bikes has grown significantly in the country. Moreover, several environmental and cycling advocacy groups such as PeopleForBikes, New Urban Mobility Alliance (NUMO), the League of American Bicyclists, CalBike, and Sierra Club among others have been supporting the government initiatives thereby creating awareness amongst the consumers regarding the benefits of utilizing e-bikes over the conventional transportation modes.

E-bikes for the commercial segment increasingly incorporate smart features to enhance functionality and connectivity. GPS tracking systems enable efficient fleet management, real-time monitoring of deliveries, and route optimization. Some e-bikes are equipped with integrated screens or connectivity options to provide riders with navigation, speed, distance traveled, and battery status information. These smart features improve operational efficiency and enable businesses to effectively track and manage their e-bike fleets.

Key players in the market are focused on strategies such as new product launches and partnerships to enhance their business operations and product offerings. For instance, in May 2023, a U.S.-based startup of e-bikes Heybike announced the launch of its fully foldable e-bike Ranger S in the U.S. which offers a smart LCD screen, Bluetooth, hydraulic front fork suspension, and several other features. The initiative is expected to help the company in capturing the environmental-friendly commuter customer base for increasing revenues.

U.S. E-bike Market Report Highlights

• In terms of propulsion type, the throttle-assisted segment is expected to witness the highest CAGR over the forecast period. Technological advancements have improved the performance and range of throttle-assisted e-bikes. More powerful motors, higher-capacity batteries, and energy-efficient components have increased the capabilities of throttle-assisted e-bikes
• In terms of drive type, the belt drive segment is expected to witness the highest CAGR from 2023 to 2030, owing to its advantages such as longer life, lightweight, and noise-free operation of e-bikes
• In terms of application, the cargo segment is expected to witness the highest CAGR over the forecast period, owing to growth in the initiatives undertaken by companies for providing e-bikes to delivery workers, and its inclusion in the logistics industry
• In terms of battery, the lithium-ion segment is expected to witness the highest CAGR during the forecast period. This is attributed to the several initiatives undertaken by the U.S. government for reducing emissions by promoting the adoption of electric vehicles and increasing the production of lithium-ion batteries
• In terms of end-use, the commercial segment is expected to witness the highest CAGR during the forecast period. This is attributed to the reduced risk of accidents due to lower speeds of e-bikes, and regulations and incentives offered by the U.S. government for the adoption of e-bikes

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