Electric Bikes Market: Size, Share, Trends & Forecast (2024-2029)
The market report offers a detailed analysis segmented by Class (Class I, Class II, Class III); by Battery (Li-ion, Li-ion Polymer, Lead Acid); by Mode (Throttle, Pedal Assist); by Usage (Mountain/Trekking, City/Urban, Cargo); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Market Dimensions & Growth Potential
- The electric bikes market is estimated to be at USD 53,057.74 Mn in 2024 and is anticipated to reach USD 79,847.95 Mn in 2029.
- The electric bikes market is registering a CAGR of 8.52% during the forecast period of 2024-2029.
- The electric bikes (e-bikes) market has been experiencing robust growth, driven by increasing environmental awareness, urbanization, and advancements in battery technology.
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Competitive Landscape & Market Positioning in 2023
- The participants in the global electric bikes industry are always developing their strategies to preserve a competitive advantage.
- These companies primarily use acquisitions, R&D, partnerships, and technological launches.
- Several important entities in the electric bikes market include Accell Group B.V.; Giant Manufacturing Co., Ltd.; Yadea Technology Group Co., Ltd.; Yamaha Motor Co., Ltd.; Pedego Inc.; and others.
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Report Objectives & Insights
| Attributes | Values |
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 53,057.74 Mn |
| Market Size (2029) | USD 79,847.95 Mn |
| Growth Rate | 8.52% CAGR from 2024 to 2029 |
| Key Segments | Class (Class I, Class II, Class III); Battery (Li-ion, Li-ion Polymer, Lead Acid); Mode (Throttle, Pedal Assist); Usage (Mountain/Trekking, City/Urban, Cargo); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
| Key Vendors | Accell Group B.V.; Giant Manufacturing Co., Ltd.; Yadea Technology Group Co., Ltd.; Yamaha Motor Co., Ltd.; Pedego Inc. |
| Key Countries | The US; Brazil; China; India; Japan; The UK; Germany; Italy; France; Paris; Netherlands |
| Largest Market | Asia Pacific |
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Market Trends & Future Outlook
- Incorporation of Automated Systems: Automated systems, such as automatic gear shifting and regenerative braking, are being integrated into e-bikes to enhance user convenience and efficiency. In 2023, Shimano introduced an e-bike system with automatic gear shifting, optimizing performance based on riding conditions.
- Advancements in Battery Technology: Improvements in battery technology, particularly in terms of range and charging time, are enhancing the appeal of e-bikes. In January 2024, Bosch, a leading e-bike component manufacturer, introduced a new e-bike system with a battery range of up to 150 kilometers on a single charge.
- Focus on Lightweight and Foldable Designs: There is a growing trend towards lightweight and foldable e-bike designs, catering to urban commuters who need portable and easy-to-store options. In May 2023, Brompton, a renowned folding bike manufacturer, launched the Brompton Electric P Line, a lightweight and foldable e-bike.
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Key Market Influencers & Growth Drivers
- Environmental Concerns: Growing environmental awareness and concerns about air pollution are significant drivers of the e-bike market. E-bikes offer a sustainable alternative to fossil fuel-based vehicles, aligning with global efforts to reduce carbon footprints.
- Government Incentives and Regulations: Supportive government policies, including subsidies, tax incentives, and infrastructure investments, are boosting the adoption of e-bikes. For example, in March 2024, the European Union increased subsidies for e-bike purchases as part of its Green Deal initiative, encouraging consumers to switch to greener modes of transport.
- Rising Fuel Costs: Increasing fuel prices are making traditional vehicles more expensive to operate, prompting consumers to consider more economical alternatives like e-bikes. This trend is particularly strong in regions with high fuel taxes or prices, making e-bikes a cost-effective choice.
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Market Obstacles & Growth Barriers
- High Initial Costs: The initial cost of purchasing an e-bike can be prohibitive for many consumers, especially when compared to conventional bicycles. High-quality e-bikes often come with advanced features and long-lasting batteries, which increase the price.
- Limited Range: The limited range of e-bikes remains a challenge, particularly for users requiring longer commutes. While ideal for short urban trips, their battery capacity often proves insufficient for extended commutes or recreational rides.
- Limited Charging Infrastructure: The availability of charging infrastructure remains a challenge in many regions, particularly in rural areas. While urban centers are increasingly equipped with charging stations, the lack of a comprehensive network can deter potential buyers concerned about battery life and range.
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Map Highlighting Key Region in 2023
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Table of Contents
| 1. Introduction |
|---|
| 1.1. Research Methodology |
| 1.2. Scope of the Study |
| 2. Market Overview / Executive Summary |
| 2.1. Global Electric Bikes Market (2018 – 2022) |
| 2.2. Global Electric Bikes Market (2023 – 2029) |
| 3. Market Segmentation |
| 3.1. Global Electric Bikes Market by Class |
| 3.1.1. Class I |
| 3.1.2. Class II |
| 3.1.3. Class III |
| 3.2. Global Electric Bikes Market by Battery |
| 3.2.1. Li-ion |
| 3.2.2. Li-ion Polymer |
| 3.2.3. Lead Acid |
| 3.3. Global Electric Bikes Market by Mode |
| 3.3.1. Throttle |
| 3.3.2. Pedal Assist |
| 3.4. Global Electric Bikes Market by Usage |
| 3.4.1. Mountain/Trekking |
| 3.4.2. City/Urban |
| 3.4.3. Cargo |
| 4. Regional Segmentation |
| 4.1. North America |
| 4.1.1. The US |
| 4.1.2. Canada |
| 4.1.3. Mexico |
| 4.2. South America |
| 4.2.1. Brazil |
| 4.2.2. Argentina |
| 4.2.3. Colombia |
| 4.2.4. Chile |
| 4.2.5. Rest of South America |
| 4.3. Asia Pacific |
| 4.3.1. China |
| 4.3.2. India |
| 4.3.3. Japan |
| 4.3.4. South Korea |
| 4.3.5. Rest of Asia Pacific |
| 4.4. Europe |
| 4.4.1. The UK |
| 4.4.2. Germany |
| 4.4.3. Italy |
| 4.4.4. France |
| 4.4.5. Spain |
| 4.4.6. Rest of Europe |
| 4.5. The Middle East |
| 4.5.1. Turkey |
| 4.5.2. UAE |
| 4.5.3. Saudi Arabia |
| 4.5.4. Rest of the Middle East |
| 4.6. Africa |
| 4.6.1. Egypt |
| 4.6.2. South Africa |
| 4.6.3. Rest of Africa |
| 5. Value Chain Analysis of the Global Electric Bikes Market |
| 6. Porter Five Forces Analysis |
| 6.1. Threats of New Entrants |
| 6.2. Threats of Substitutes |
| 6.3. Bargaining Power of Buyers |
| 6.4. Bargaining Power of Suppliers |
| 6.5. Competition in the Industry |
| 7. Trends, Drivers and Challenges Analysis |
| 7.1. Market Trends |
| 7.1.1. Market Trend 1 |
| 7.1.2. Market Trend 2 |
| 7.1.3. Market Trend 3 |
| 7.2. Market Drivers |
| 7.2.1. Market Driver 1 |
| 7.2.2. Market Driver 2 |
| 7.2.3. Market Driver 3 |
| 7.3. Market Challenges |
| 7.3.1. Market Challenge 1 |
| 7.3.2. Market Challenge 2 |
| 7.3.3. Market Challenge 3 |
| 8. Opportunities Analysis |
| 8.1. Market Opportunity 1 |
| 8.2. Market Opportunity 2 |
| 8.3. Market Opportunity 3 |
| 9. Competitive Landscape |
| 9.1. Accell Group B.V. |
| 9.2. Giant Manufacturing Co., Ltd. |
| 9.3. Yadea Technology Group Co., Ltd. |
| 9.4. Yamaha Motor Co., Ltd. |
| 9.5. Pedego Inc. |
| 9.6. Company 6 |
| 9.7. Company 7 |
| 9.8. Company 8 |
| 9.9. Company 9 |
| 9.10. Company 10 |
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Electric Bikes Market – FAQs
What is the current size of the electric bikes market?
In 2024, the electric bikes market size is $53,057.74 Mn.
Who are the major vendors in the electric bikes market?
The major vendors in the electric bikes market are Accell Group B.V.; Giant Manufacturing Co., Ltd.; Yadea Technology Group Co., Ltd.; Yamaha Motor Co., Ltd.; Pedego Inc.
Which segments are covered under the electric bikes market segments analysis?
The electric bikes market report offers in-depth insights into Class, Battery, Mode, Usage, and Geography.