Report ID: 10352026 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Electric Bikes Market Highlights over 2022-2030
The global electric bikes market is estimated to be approximately USD 45 Billion by the end of 2021 and further grow at a CAGR of nearly 8% over the forecast period, i.e., 2022-2030. The growth of the market can be attributed to growing awareness regarding flexible and eco-friendly mode of transportation, rising fuel cost globally, and increasing government initiatives towards green and sustainable energy to reduce carbon footprint.
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E-bikes are growing in popularity as a trendy mode of transport. They are easy to operate, convenient for all age groups, are economically efficient, and environment-friendly. Furthermore, while public transit declined worldwide due to the COVID-19 pandemic, the demand for e-bikes increased exponentially.
However, the high cost of e-bikes is one of the key restraints to the growth of the market. Electric bikes have more associated costs than conventional bicycles owing to the technology and associated components, including battery, motor, and others. Furthermore, the lack of proper and proximal charging infrastructure is also expected to hinder the growth of the market.
The market is segmented by product type into pedelecs, throttle on-demand, and scooter or motorcycle, out of which, the pedelecs segment is anticipated to hold the largest share of the market and witness significant growth over the forecast period. The growth of the segment is attributed to several advantages over types, such as high mobility, better battery life, and lower servicing needs. By 2023, global sales for pedal support e-bikes are estimated to be approximately 40 million units. Furthermore, throttle on-demand segment is projected to witness the highest growth rate owing to factors such as decreased pedalling needs, which is convenient for older people, and convenient for trekking purposes.
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Based on the drive mechanism, the market is segmented into hub motor, mid-drive, and others, out of which, the hub motor segment is estimated to hold the largest share of the market over the forecast period owing to being cheaper than mid drives and requires little or no maintenance on the back of being an entirely independent drive system that retains all of their component inside the motor casing.
The market is further segmented on the basis of battery type into lead acid, lithium-ion (Li-ion), nickel-metal hydride (NiMH), and others. The lead-acid segment holds the largest share of the market on the back of factors such as, its low-cost and easy recycling. However, the lithium-ion (Li-ion) segment is anticipated to witness the highest growth over the forecast period owing to factors such as more power-to-weight ratio, efficient battery chemistry and charging, and long-lasting battery life.
Global Electric Bikes Market Regional Synopsis
Regionally, the global electric bikes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Asia-Pacific region is expected to hold the largest share of the market and witness growth over the forecast period owing to high demand and sales for e-bikes, especially in countries such as China, India, and Japan, on the back of rapid urbanisation, increased traffic congestion, and stringent regulations to curb carbon emission. China is the largest producer of e-bikes in the world.
Europe region is projected to witness the highest growth during the forecast period owing to increasing demand for e-bikes, especially in countries such as The Netherlands and Germany which are rapidly witnessing a surge in e-bike sales. In 2020, e-bike sales in Germany numbered to nearly 2 million units which is the highest value on record.
Market Segmentation
Our in-depth analysis of the global electric bikes market includes the following segments:
By Product Type
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Pedelecs
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Throttle On-Demand
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Scooter or Motorcycle
By Drive Mechanism
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Hub Motor
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Mid Drive
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Others
By Battery Type
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Lead Acid
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Lithium-ion (Li-ion)
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Nickel-Metal Hydride (NiMH)
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Others
Growth Drivers and Challenges Impacting the Growth of the Global Electric Bikes Market
Growth Drivers
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Growing awareness regarding flexible and eco-friendly mode of transportation
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Rising fuel cost globally
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Increasing government initiatives towards green and sustainable energy to reduce carbon footprint
Challenges
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High cost of e-bikes owing to the technology and associated components
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Lack of proper and proximal charging infrastructure
Key Companies Dominating the Global Electric Bikes Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global electric bikes market that are included in our report are Accell Group, Derby Cycle, Giant Bicycles, Mahindra & Mahindra Ltd., Trek Bicycle Corporation, Yamaha Motor Co., Ltd., Jiangsu Xinri E- Vehicle Co., Ltd., Riese & Müller GmbH, Tianjin Golden Wheel Group Co., Ltd., MERIDA Bikes, and others.
Latest Developments in the Global Electric Bikes Market:
December 2021: European Union finance ministers decided on changing EU rules to reduce VAT on goods and services that favor against climate change, including e-bikes, which were initially not considered in the proposal.
November 2021: Yamaha Motor Co., Ltd. and Hero Motors Limited announced partnership for a joint venture company that will manufacture hub-mounted drive units for e-bikes.
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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Frequently Asked Question
The market is segmented by product type, drive mechanism, battery type, and by region.
The air purification monitoring segment is anticipated to hold largest market size in value and is estimated grow at the highest rate over the forecast period and display significant growth opportunities.
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Report ID: 10352026 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
