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

Global Electric Bikes Market Size
Global Electric Bikes Market Size
  • 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

Global Electric Bikes Market Share
Global Electric Bikes Market Share
  • 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

Document
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

Global Landscape of Electric Bikes Market
Global Landscape of Electric Bikes Market
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Table of Contents

List Table
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.