US E-Bike Market

Market Overview:

The United States e-bike market size reached US$ 943.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,338.0 Million by 2032, exhibiting a growth rate (CAGR) of 10.3% during 2024-2032. Shifting consumer preferences from gasoline-powered cars to zero-emission vehicles, the increasing government support to promote e-bike adoption, and the rising cost of fuel incentives with lower operating costs are among the key factors driving the market growth.

An e-bike is a two-wheeled vehicle equipped with an electric motor that assists in propulsion. It combines traditional cycling with the convenience and power of electric technology. It features a rechargeable battery, which provides the necessary energy for the motor to function. Riders can pedal the e-bike as they would a regular bicycle, but when they require additional assistance, they can engage the motor by either pedalling or using a throttle. E-bikes offer a sustainable and eco-friendly transportation option, allowing individuals to commute more easily, cover longer distances, and enjoy recreational rides with reduced physical exertion. The growing popularity of e-bikes stems from their versatility, efficiency, and contribution to cleaner mobility solutions.

Shifting consumer preferences from gasoline-powered cars to zero-emission vehicles such as e-bikes is driving the market in the United States. Moreover, with congested roads and limited parking, e-bikes offer a faster and more flexible way to navigate cities, bypass traffic, and reach destinations more efficiently., thus contributing to the market. Moreover, E-bikes appeal to a wide range of individuals, including those seeking exercise without excessive strain. The electric assist feature allows riders to control the level of physical exertion, making cycling more accessible to different age groups and fitness levels. Besides, rising government support and incentives, including various federal, state, and local governments, offer incentives to promote e-bike adoption. These incentives may include tax credits, subsidies, grants, or infrastructure development to encourage e-bike usage and boost the market. Apart from this, the rising cost of fuel is supporting the market as E-bikes offer a more affordable and economical means of transportation with lower operating costs compared to traditional vehicles.

United States E-Bike Market Trends/Drivers:

Rising environmental consciousness

The rising environmental consciousness among consumers in the United States has had a significant impact on the e-bike market. As individuals become more aware of the detrimental effects of traditional vehicles on the environment, there has been a growing demand for sustainable transportation alternatives. E-bikes offer a greener option as they produce zero emissions during operation. This aligns with the desire of individuals to reduce their carbon footprint and contribute to a cleaner environment. The environmental benefits of e-bikes, including reduced air pollution and noise pollution, appeal to eco-conscious consumers. The availability of e-bikes as a practical and eco-friendly mode of transportation has led to a growing adoption rate. Moreover, governments and organizations promoting sustainable practices and addressing climate change are providing incentives and subsidies to encourage e-bike usage, further impacting the demand.

Continuous advancements in e-bike technology

Continuous advancements in e-bike technology have played a significant role in shaping and influencing the United States e-bike market. These advancements have improved the performance, efficiency, and overall user experience of e-bikes, making them more appealing to a wider consumer base. The integration of smart features and connectivity options is another notable advancement. E-bikes now come equipped with features, such as integrated displays, GPS navigation, smartphone connectivity, and app-controlled settings. These advancements provide riders with real-time data, route guidance, and the ability to customize their riding experience. Additionally, advancements in battery technology have led to the development of lighter, more compact, and higher-capacity batteries. These improvements result in increased range and longer-lasting power, addressing one of the common concerns of e-bike users, which is acting as a growth-inducing factor.

United States E-Bike Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the United States e-bike market reports, along with forecasts at the country and regional levels from 2024-2032. Our report has categorized the market based on mode, motor type, battery type, class, design and application.

Breakup by Mode:

• Throttle
• Pedal Assist
   

Throttle represents the most widely used mode

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

Throttle mode has emerged as the dominant force in the United States e-bike market, changing the way consumer experience and utilize electric bicycles. With its user-friendly design and intuitive functionality, throttle mode has gained widespread popularity and captured the attention of riders across the country. Throttle mode allows riders to easily control their speed and acceleration, making it ideal for navigating challenging terrains or congested urban environments. Additionally, this mode provides a sense of autonomy and flexibility, as consumers can choose to engage the motor whenever they desire, providing an added level of comfort and confidence. The simplicity and accessibility of throttle mode have played a significant role in its dominance, capturing a substantial market share, and solidifying its position as the preferred choice for e-bike enthusiasts across the United States.

Breakup by Motor Type:

• Hub Motor
• Mid Drive
• Others
   

Hub motor account for the majority of the market share

A detailed breakup and analysis of the market based on the 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.

The hub motor exhibits the ability to deliver consistent power and torque has made it particularly popular among commuters seeking a reliable mode of transportation.  Renowned for its efficiency, reliability, and versatility, the hub motor has captured the attention of riders across the country.  With its compact design, the hub motor enables e-bikes to maintain a sleek and traditional appearance, resembling regular bicycles while offering the added benefit of electric assistance. Furthermore, the hub motor's ease of installation and maintenance has contributed to its dominance, as it eliminates the need for complex drivetrain modifications and allows for hassle-free servicing. The hub motor's reliability and widespread availability have made it the go-to choice for e-bike manufacturers, ensuring a diverse range of models and options for consumers.

Breakup by Battery Type:

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

Lithium ion holds the largest share in the market

A detailed breakup and analysis of the 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, lithium ion accounted for the largest market share.

The lithium-ion battery has emerged as the dominant force in the United States e-bike market, transforming the way electric bicycles are powered and redefining the riding experience. Renowned for its high energy density, lightweight design, and long lifespan, the lithium-ion battery has captured the attention and trust of riders across the country. By providing a reliable and efficient power source, these batteries have significantly extended the range and performance of e-bikes.  With their compact size and reduced weight compared to other battery technologies, lithium-ion batteries have seamlessly integrated into e-bike frames, allowing for a sleek and aesthetically pleasing design. Moreover, the dominance of lithium-ion batteries in the United States e-bike market is a result of their superior performance, extended range, lightweight design, and affordability, making them the preferred choice for riders seeking a reliable and powerful electric cycling experience.

Breakup by Class:

• Class I
• Class II
• Class III
   

Class I hold the largest share in the market

A detailed breakup and analysis of the 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.

Class I models provide electric assistance only while the rider is actively pedaling, without the use of a throttle. This design has gained widespread popularity and acceptance among riders across the country, thereby acting as a growth-inducing factor. Class I e-bikes offer a seamless and natural riding experience, where the electric motor amplifies the rider's pedaling power, providing a boost of speed, and making uphill climbs and longer distances more manageable. Also, the integration of electric assistance while pedaling ensures that riders remain active and engaged, promoting a healthier and more sustainable approach to commuting and recreational cycling. Additionally, the increasing availability and variety of class I e-bike models have also contributed to their dominance, catering to a wide range of rider preferences, from urban commuters to fitness enthusiasts.

Breakup by Design:

• Foldable
• Non-Foldable
   

A detailed breakup and analysis of the market based on the design has also been provided in the report. This includes foldable and non-foldable.

Foldable e-bikes cater to the needs of urban commuters who value portability and convenience. In crowded cities with limited parking space, the ability to fold and store an e-bike easily is a major advantage. Additionally, foldable e-bikes occupy less space when stored compared to traditional e-bikes. This feature makes them suitable for people living in small apartments or those with limited storage options. Foldable e-bikes can be easily stored in closets, under desks, or in the trunk of a car, offering flexibility and convenience.

On the other hand, non-foldable e-bikes often prioritize performance and stability. They typically have larger frames, larger wheels, and a longer wheelbase, which contributes to a more comfortable and stable riding experience. This design is preferred by riders who prioritize speed, long-distance commuting, or off-road capabilities. Moreover, these e-bikes often have larger battery capacities and more powerful motors compared to their foldable counterparts.

Breakup by Application:

• Mountain/Trekking Bikes
• City/Urban
• Cargo
• Others
   

City/ urban application holds the largest share in the market

A detailed breakup and analysis of the 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.

Urban e-bikes have emerged as the dominant force in the United States e-bike market, revolutionizing the way users navigate and commute within cities. These are designed specifically for urban environments where they have gained widespread popularity and captured the attention of riders across the country. Urban e-bikes offer a range of features tailored to the needs of city dwellers, such as lightweight frames, nimble handling, and efficient electric assistance. With their compact design, urban e-bikes allow riders to maneuver through crowded streets and navigate tight spaces with ease, making them a practical and convenient mode of transportation. Additionally, urban e-bikes often feature integrated storage options, such as racks and baskets, enabling riders to carry groceries, work essentials, or other belongings conveniently.

Breakup by Region:

• Northeast
• Midwest
• South
• West
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South and West.

Several cities in the Northeast have implemented progressive transportation policies that promote cycling and alternative modes of transportation. They have implemented bike lane networks, bike-sharing programs, and infrastructure improvements that support cycling, including e-bike usage. These policies have created a favorable environment for e-bike adoption and have contributed to the dominance of the Northeast in the market. The Northeast also has a well-developed cycling culture with a strong community of cyclists.

On the contrary, the West region is home to many e-bike manufacturers, distributors, and retailers. It offers diverse terrain, ranging from coastal areas to mountains and deserts, which attracts outdoor enthusiasts. E-bikes provide an accessible and enjoyable way to explore and navigate these diverse landscapes. The West region, especially cities, including Portland and Seattle, has a strong cycling culture with a high number of bike commuters and recreational cyclists.

Competitive Landscape:

The key players in the market have done several innovations and advancements to meet the evolving demands of consumers and businesses. Leading market players have allocated significant resources to research and development (R&D), focusing on improving battery technology, enhancing motor efficiency, and optimizing overall performance, which enables them to offer more advanced and reliable e-bike models to consumers.  Moreover, companies are constantly introducing new e-bike models with innovative features to cater to different rider preferences and needs. This includes urban e-bikes, mountain e-bikes, folding e-bikes, cargo e-bikes, and more. By diversifying their product offerings, the companies aim to capture a wider customer base. Additionally, several e-bike companies have formed partnerships with other organizations to drive e-bike adoption. These collaborations often involve city governments, transportation authorities, and bike-sharing programs to integrate e-bikes into existing infrastructure and promote sustainable mobility solutions.

United States E-Bike Market Report Scope:

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 United States e-bike market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the United States e-bike market.
• 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 United States 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.