Global E-Bike Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global E-Bike Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

An electric bicycle is a motorized bicycle with an integrated electric motor for assisting propulsion. It's powered by a rechargeable battery that provides the rider with extra power, ultimately delivering a smoother, more convenient, and easier ride. An e-bike may be the same as any other bike in terms of design, shape and components, but e-bikes are most efficient when pedalling faster than a regular bike.

Market Overview:

The latest research study on the global E-Bike market finds that the global E-Bike market reached a value of USD 25351.0 million in 2022. It’s expected that the market will achieve USD 45309.82 million by 2028, exhibiting a CAGR of 10.16% during the forecast period.

Logistics affected by the epidemic

Many countries have imposed controls on domestic traffic and the movement of people, and imposed restrictions on imported goods. This has resulted in varying degrees of logistical disruption, cargo accumulation and shipping delays. At present, the logistics industry in various countries is gradually resuming operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.

Industrial automation of electric bicycle production will further develop

The pandemic has boosted industrial automation, enabling e-bike manufacturers to hire more high-tech talent and multi-skilled workers, reduce their reliance on labor, and better cope with labor fluctuations. At the same time, the standardization of electric bicycle parts and the ability to resist risks in the supply chain will receive more and more attention from enterprises.

Impact of Russia and Ukraine War

The Russian-Ukrainian war has jeopardized the world's economic recovery from the COVID-19 pandemic, and countries around the world are facing many challenges such as inflation, food security, energy security, and supply chain pressures. Due to the Russian-Ukrainian war, the Organization for Economic Cooperation and Development (OECD) forecasts a 1.1 percentage point drop in global economic growth and a 2.5 percentage point increase in inflation.
The Russian-Ukrainian war has led to shortages of some commodities, raw materials and components. The combined production of mining commodities such as steel, aluminum and nickel from Russia and Ukraine accounts for a larger share of world production. The Russian-Ukrainian war has exacerbated inflation, causing the prices of these commodities to rise in 2022. These metal materials are indispensable to some manufacturing production, thus affecting some manufacturing production. In addition, the Russian-Ukrainian war had an impact on energy supply. In the context of the global economic recovery, global energy prices are on the rise in the second half of 2021, driven by increased demand, and the Russian-Ukrainian war has caused world oil prices to rise again. Russia is the third largest oil producer in the world. Russia supplies more than 20% of continental Europe's oil. Some European countries mainly rely on Russia for their oil imports. The Russian-Ukrainian war had an impact on the oil supply chain, which in turn affected the energy supply to the European region.

Increased demand for e-bikes among students and commuters

Electric bicycles are a form of transportation, and electric bicycles are in high demand from students and office workers. First, many students and commuters choose to ride e-bikes to work or school mainly because e-bikes are more convenient than other means of transportation. At the same time, riding an electric bike is also a physical exercise.
Second, riding an e-bike to work is much cheaper than driving or taking public transportation. Especially urban parking spaces are tight, and e-bikes take up smaller parking spaces than cars. For example, parking in a big city like New York City can cost a lot of money. According to data released by the U.S. Census Bureau, e-bikes are currently in high demand from students and commuters around the world, with more than 837,000 Americans biking to work.
Finally, rising oil prices in recent years and the relative increase in the cost of transportation such as cars have further boosted consumer demand for e-bikes. Therefore, the demand for e-bikes by students and commuters will drive the growth of the e-bike industry.

Electric bike industry faces competition from alternatives

The electric bicycle industry faces competition from many alternatives. As a means of transportation, alternatives to electric bicycles include ordinary bicycles, buses, subways, etc. On the one hand, with the acceleration of urbanization, urban subways are becoming more and more developed. On the other hand, riding an electric bicycle is affected by external factors such as weather. For example, riding an electric bicycle in rainy days is easy to get wet.
In addition, if only considering convenience and not being affected by parking spaces, ordinary bicycles also have the same advantages, and the demand for electric bicycles is also affected by the competition of traditional ordinary bicycles. Therefore, electric bicycles are subject to greater competition as a means of transportation.

Region Overview:

Geographically, China held the largest market share – 55.42% in 2022.

Company Overview:

Yadea is one of the major players operating in the E-Bike market, holding a share of 8.21% in 2023.

Yadea

Yadea Technology Group was established in 2001. Yadea sells well in 100 countries and regions around the world, ranking first in global sales for five consecutive years. It is committed to creating a new generation of green technology travel lifestyle, leading the industry upgrade, and becoming a leader in the electric bicycle industry.

AIMA

AIMA was established in 1999 and entered the electric bicycle industry in 2004. The company's main business is the research and development, production and sales of electric bicycles, electric mopeds and electric motorcycles.

Segmentation Overview:

Among different product types, Hub segment is anticipated to contribute the largest market share in 2028.

Mid

The motor of a hub-driven e-bike is located on the front or rear wheel, and the motor can be easily placed in the hub. The motor provides propulsion by rotating the tire on which it is mounted. Depending on whether the hub motor is on the front or rear wheel, the e-bike feels like it's being pushed or pulled.

Hub

The motor of a mid-drive e-bike is located directly between the pedals in the bottom bracket of the bike. The motor placement of the mid-drive e-bike ensures a low and central center of gravity, providing load balance with the feel of riding a traditional bike. The mid-drive electric bike has stable directionality and tracking stability.

Application Overview:

The market's largest segment by application is the segment City, with a market share of 65.47% in 2022.

MTB

MTB is more suitable for people who like off-road. The MTB is equipped with a powerful motor that provides power on uphill climbs.

City

City electric bikes are mainly suitable for urban riding. The City electric bike features agile, narrow tires and a lightweight frame for easy portability. Many models of City e-bikes are equipped with built-in lights and fenders for safe and practical City riding.

Cargo

Cargo electric bicycles are mainly invented for carrying children and cargo, and cargo electric bicycles are mainly three-wheeled cargo bicycles. Some cargo bikes may also have seat belts on their box seats.

Road

Road electric bicycles refer to vehicles that use batteries as auxiliary energy on the basis of ordinary bicycles, and are equipped with control components such as motors, controllers, batteries, and display instrument systems.

Key Companies in the global E-Bike market covered in Chapter 3:

Fritzmeier Systems GmbH & Co. KG
Merida Industry Co. Ltd.
Cowboy
Accell Group
Rad Power Bikes
Yadea
AIMA
XINRI E-VEHICLE
Giant Bicycles Co. Ltd.
Ampler Bikes
Riese & Muller
VanMoof B.V.
Coboc
Trek Bikes
Yamaha Bicycles
Pon Holdings

In Chapter 4 and Chapter 14.2, on the basis of types, the E-Bike market from 2018 to 2029 is primarily split into:

Mid
Hub

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the E-Bike market from 2018 to 2029 covers:

MTB
City
Cargo
Road

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)