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

Report Format: PDF+Excel | Report ID: SR112023A1604
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Market Overview:

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.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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: 

 

 
 

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  • 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: 

 

 
 

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  • 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. 

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Mode, Motor Type, Battery Type, Class, Design, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Accell Group, BIONX International Corporation, Robert Bosch GmbH, Yamaha Motor Group, Derby Cycle Holding GmbH, Giant Group, KWANG YANG MOTOR CO., 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Benefits for Stakeholders:  

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the e-bike market from 2017-2028.  
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global e-bike market.  
  • The study maps the leading as well as the fastest growing regional markets.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the e-bike industry and its attractiveness. 
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.  

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
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E-Bike Market: Global  Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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