E-Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

E-Bike Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global e-bike market size reached US$ 23.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 34.6 Billion by 2028, exhibiting a growth rate (CAGR) of 6.78% during 2023-2028. The growing environmental awareness among the masses, rising traction of shared micro-mobility services, and increasing technological advancements in enhancing the functionalities of e-bikes represent some of the key factors driving the market.

E-bikes are bicycles equipped with electrical motors for transforming electrical energy into mechanical energy to assist pedaling. They comprise rechargeable batteries that require minimum maintenance and provide power to the motor. They are commercially available in folding, cruiser, urban, mountain, snow, and commuter variants. They help minimize the utilization of fossil fuel-dependent cars with an eco-friendly and efficient way of traveling. They do not contribute to the negative impacts of global warming and climate change while reducing the emission of automobile exhausts into the air. E-bikes offer higher shelf life, allow users to travel uphill, and cover distances effortlessly. They also enable individuals with osteoarthritis, rheumatoid arthritis, and chronic joint pains to enjoy cycling without stressing their knees and thighs. They improve cardiovascular health, increase metabolism to lose weight, enhance muscle tone, and boost the immune system. They also assist in reducing traffic congestion on highways and roads by allowing individuals to ride through sidewalks and bike lanes around the world.

E-Bike Market Trends:
At present, the rising demand for e-bikes due to the increasing environmental awareness among the masses represents one of the key factors contributing to the growth of the market. Besides this, governing agencies of various countries are organizing campaigns to encourage the usage of e-bikes and reduce fossil fuel expenditure, decrease air pollution levels, and improve air quality. They are also providing subsidies, constructing bicycle routes, and installing electric vehicle (EV) charging stations in public places to boost the sales of e-bikes. In addition, there is a rise in the integration of lithium-ion batteries in e-bikes for fast charging and optimizing the performance of the vehicle. This, coupled with the increasing utilization of mid-drive motors to lower maintenance costs and improve gear usage, is propelling the market growth. Apart from this, key market players are manufacturing connected e-bikes integrated with the internet of things (IoT) to intercept and transmit data from the cloud without using a smartphone. They are also incorporating multiple advanced features in e-bikes, such as automatic emergency calling, anti-theft systems, remote diagnostics, and integrated navigation, which is bolstering the growth of the market. Additionally, the growing adoption of e-bikes by logistic companies to travel longer distances at higher speeds and deliver packages is offering a favorable market outlook. Moreover, the increasing traction of shared micro-mobility across the globe to reduce travel expenses is supporting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-bike market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on mode, motor type, battery type, class, design and application.

Mode Insights:

Throttle
Pedal Assist

The report has provided a detailed breakup and analysis of the e-bike market based on the mode. This includes throttle and pedal assist. According to the report, pedal assist represented the largest segment.

Motor Type Insights:

Hub Motor
Mid Drive
Others

A detailed breakup and analysis of the e-bike market based on motor type has also been provided in the report. This includes hub motor, mid drive, and others. According to the report, hub motor accounted for the largest market share.

Battery type Insights:

Lead Acid
Lithium Ion
Nickel-Metal Hydride (NiMH)
Others

A detailed breakup and analysis of the e-bike market based on the battery type has also been provided in the report. This includes lead acid, lithium ion, nickel-metal hydride (NiMH), and others. According to the report, lead acid accounted for the largest market share.

Class Insights:

Class I
Class II
Class III

A detailed breakup and analysis of the e-bike market based on the class has also been provided in the report. This includes class I, class II, and class III. According to the report, class I accounted for the largest market share.

Design Insights:

Foldable
Non-Foldable

A detailed breakup and analysis of the e-bike market based on the design has also been provided in the report. This includes foldable and non-foldable. According to the report, non-foldable accounted for the largest market share.

Application Insights:

Mountain/Trekking Bikes
City/Urban
Cargo
Others

A detailed breakup and analysis of the e-bike market based on the application has also been provided in the report. This includes mountain/trekking bikes, city/urban, cargo, and others. According to the report, city/urban accounted for the largest market share.

Regional Insights:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

The report has also provided a comprehensive analysis of all the major regional markets that include Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. According to the report, Asia-Pacific was the largest market for e-bikes. Some of the factors driving the Asia-Pacific e-bike market included the growing utilization of eco-friendly vehicles to reduce carbon footprints, rising adoption of healthy lifestyle habits to stay fit, and increasing number of bicycle-friendly streets across the region.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global e-bike market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Accell Group, BIONX International Corporation, Robert Bosch GmbH, Yamaha Motor Group, Derby Cycle Holding GmbH, Giant Group, Kwang Yang Motor Company Ltd, Merida & Centurion Germany GmbH (MCG), Samsung Electronics Co., Ltd, Continental AG, Prodeco Technologies LLC, Tianjin Fuji-ta Group Co., Ltd, Trek Bicycle Corporation, Pedego, Inc, and Shimano, Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report
1. What was the global e-bike market size in 2022?
2. What will be the global e-bike market outlook during the forecast period (2023-2028)?
3. What are the global e-bike market drivers?
4. What are the major trends in the global e-bike market?
5. What is the impact of COVID-19 on the global e-bike market?
6. What is the global e-bike market breakup by mode?
7. What is the global e-bike market breakup by motor type?
8. What is the global e-bike market breakup by battery type?
9. What is the global e-bike market breakup by class?
10. What is the global e-bike market breakup by design?
11. What is the global e-bike market breakup by application?
12. What are the major regions in the global e-bike market?