Electric Bike Market by Product Type (Pedal Assist and Throttle), by Motor (Hub motor, Mid drive, and Others), by Battery Type (Lead Acid, Lithium-ion, Nickel-metal Hydride (NiMH), and Others) by Battery Capacity (Less than 250Wh, 250Wh to 449Wh, 450Wh to

Electric Bike Market by Product Type (Pedal Assist and Throttle), by Motor (Hub motor, Mid drive, and Others), by Battery Type (Lead Acid, Lithium-ion, Nickel-metal Hydride (NiMH), and Others) by Battery Capacity (Less than 250Wh, 250Wh to 449Wh, 450Wh to 649Wh, 650Wh and above), and by Usage (Mountain/Trekking, City/Urban, Cargo and Others) – Global Opportunity Analysis and Industry Forecast, 2024 – 2030

The Electric Bike Market size was valued at USD 55.55 billion in 2023 and is predicted to reach USD 109.63 billion by 2030, with a CAGR of 10.2% from 2024 to 2030.

The rising awareness of environmental concerns, especially regarding air pollution and climate change, stands as a pivotal catalyst propelling the expansion of the electric bike market. With consumers increasingly mindful of their environmental footprint, there is a burgeoning need for transportation options that resonate with sustainability objectives. Electric bikes present a greener substitute to conventional vehicles, releasing no harmful pollutants and generating fewer greenhouse gas emissions. This attractiveness to eco-conscious consumers is driving the surge in demand for electric bikes as a sustainable mode of transportation. As a result, manufacturers are witnessing heightened interest and sales in electric bikes, as consumers prioritize minimizing their carbon footprint and fostering a cleaner, more sustainable environment.

However, the high cost associated with e-bikes compared to traditional bicycles presents a significant obstacle for potential buyers, particularly those with budget constraints. On the contrary, the integration of smart features presents a significant opportunity for market expansion and innovation in e-bikes. These features include incorporating GPS navigation, smartphone connectivity, and integrated sensors for performance tracking, electric bikes offer an enhanced user experience while providing valuable data for riders to optimize their journeys.

Segment Overview

The global electric bike market is segmented on the basis of product type, flow rate, material, installation, application, distribution channel, and region.
By product type, the electric bike market is classified into pedal assist and throttle.
By motor, the market is segmented into hub motor, mid-drive, and others.
By battery type, the market is divided into lead acid, lithium-ion, nickel-metal hydride (NiMH), and others.
By battery capacity, the market is classified into Less than 250Wh, 250Wh to 449Wh, 450Wh to 649Wh, and 650Wh and above
By usage, the market is categorized into mountain/trekking, city/urban, cargo, and others.
Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

North America Dominates Electric bike industry

North America leads the global electric bike market, driven by industry giants such as Aventon, Prodecotech, and Trek Bicycle Corporation. These companies not only establish benchmarks for innovation and quality but also capitalize on the region's robust infrastructure for research and development, extensive distribution networks, and increasing consumer consciousness about sustainability. This combination fuels the rapid growth of the electric bike sector in the area.

Recently, Trek Bicycle Corporation introduced its latest electric mountain bike, the Marlin+, derived from its popular Marlin model. Featuring a 250W Active Line Plus mid-drive motor and a built-in 400Wh battery for electric assistance, the Marlin+ is available in two versions—Marlin+ 6 and Marlin+ 8—and offered in five frame sizes. Both variants boast hydraulic disc brakes and a front suspension fork with up to 120mm of travel. This launch exemplifies the ongoing innovation that propels the expansion of the electric bike market in the region.

Moreover, the expansion of the e-bike market receives impetus from government initiatives promoting e-bike adoption. Several U.S. states, including Colorado, Maine, Minnesota, Vermont, and Washington, are implementing e-bike incentive programs to advance sustainable transportation and address challenges related to greenhouse gas emissions and transportation. Consequently, the collaborative efforts of industry innovation and government backing are driving the swift expansion of the electric bike market in North America, promising significant benefits for sustainable mobility and environmental conservation.

Key Market Players

The key players in the electric bike market include:
• Derby Cycle
• AIMA Technology Co., Ltd.
• Giant Bicycles
• Aventon
• Prodecotech
• Trek Bicycle Corporation
• Yamaha Motor Corporation
• Merida Bikes
• Yadea Technology Group Co., Ltd.
• Fuji-ta Bicycle Co., Ltd.

Recent Developments

February 2024

Aventon introduced its inaugural electric mountain bike, the Ramblas, featuring a specially designed mid-drive motor that enables riders to customize their riding preferences for a more intuitive and personalized experience.

November

Yamaha Motor founded a new entity named ENYRING GmbH, with a specific focus on battery management solutions for electric micromobility vehicles. ENYRING's primary offering will involve providing interchangeable batteries for urban micromobility vehicles, including e-bikes, through a subscription model service.

November

AIMA Technology Group, a global brand in the e-mobility sector, launched the emoped-HYHAWK, a fresh addition to their lineup. This new model is crafted with a focus on accessibility, catering specifically to riders. With its user-friendly design, the emoped-HYHAWK ensures easy handling, making it suitable for beginners and prioritizing rider safety. By offering a comfortable and secure riding experience, the emoped-HYHAWK opens up the joy of cruising on open roads to a wider audience, embodying the democratization of e-mobility.

November

Giant Group, a prominent player among bicycle manufacturers, unveiled its maiden throttle-enabled electric bike. This latest addition is being launched as part of the company's Momentum sub-brand, which focuses on offering more budget-friendly bike options tailored for street, utility, and commuter purposes.

September 2022

Hitachi launched a touchless operating panel devoid of physical floor buttons. This innovation enables users to select their destination floor by simply gliding their finger over the floor depicted on the monitor of the touchless operating panel.

KEY BENEFITS
• The report provides quantitative analysis and estimations of the electric bike market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
• The study comprises a deep dive analysis of the electric bike market including the current and future trends to depict prevalent investment pockets in the market.
• Information related to key drivers, restraints, and opportunities and their impact on the electric bike market is provided in the report.
• Competitive analysis of the players, along with their market share is provided in the report.
• SWOT analysis and Porters Five Forces model is elaborated in the study.
• Value chain analysis in the market study provides a clear picture of roles of stakeholders.