The global E-bike market size is expected to be worth around US$ 120,657 million by 2030, according to a new report by Vision Research Reports.
The global E-bike market size was valued at US$ 41,312 million in 2020 and is anticipated to grow at a CAGR of 11.5% during forecast period 2021 to 2030.
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E-bike Market (By Class: class-I, class-II, class-III; By Speed: up to 25 km/h, 25-45 km/h; By Battery Type: lithium-ion, lithium-ion polymer, lead acid, others; By Motor Type: Hub, mid; By Mode: Pedal assist, Throttle; By Components: Batteries, Electric Motors, Frame with Fork, Wheels, Crank Gears, Brake Systems, Others; By Usage: Mountain/trekking, City/urban, Cargo) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied, during the forecast period.
Report Coverage
| Report Scope | Details |
| Market Size | USD 120,657 million by 2030 |
| Growth Rate | CAGR of 11.5% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Class, Speed, Battery Type, Motor Type, Mode, Components, Usage, Ownership |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Accell Group N.V. (Netherlands),Pon.Bike (US), Merida Industry Co., Ltd. (Taiwan), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Corporation (Japan). |
Growth Factors
Electric bike is a bicycle with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Various kinds of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes that produce power to completely drive the bike using throttle.
The region, India, Japan, South Korea, and Taiwan are potential markets owing to the increasing e-bike sales in these countries. The mountain e-bike is expected to account for a significant share of the ebike market during the forecast period due to its robustness and high-performance design. Class I e-bike is expected to be the largest market during the forecast period as countries such as China, Japan, South Korea, and Taiwan allow only class-I e-bikes as they are without throttle assist and have a maximum speed of 25 Km/h.
Government regulations and lack of infrastructure
Factors such as implementation of government regulations to encourage the use of electric bikes, consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are expected to drive the market growth. However, high cost of e-bikes and ban on use of e-bikes in major cities of China hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the electric bike market growth.
Growing popularity of e-MTB. And High Cost of e-bikes
High cost of e-bikes is a major factor that restrains the growth of the E-bikes market. The cost of the battery and technology makes e-bikes costlier as compared to traditional bicycles, conventional scooters, or motorcycles. Hence, consumers find conventional scooters or motorcycles superior in performance with same or less price.
Trend towards connected e-bikes and Improvement in bicycling infrastructure & battery technology
Some of the important features offered by the connected e-bike include automatic emergency calls, integrated navigation, social media connection, anti-theft system, and remote diagnostics. Bosch is one of the major players in the e-bike market, offering connected electric bike solutions.
E-bikes are less expensive than cars, do not require license, and can be used on existing bicycling infrastructure. Rapid urbanization and less preference of consumers to use cars due to increased traffic congestion are anticipated to offer lucrative opportunities for market expansion. In addition, governments of various countries focus on the development of infrastructure for e-bikes, including bicycle tracks and public charging stations with the inclination of consumers toward e-bikes.
Technology Challenges
The two most fundamental elements of the e-bike are the motor and battery. The motor provides the force, and the battery stores and supplies the energy. Controlling the speed and torque of the motor across a wide range of speed and load conditions is one of the challenges for ebike manufacturers.
The main challenges in encouraging growth in the global e-bike market lie in designing a smart battery. E-bikes must travel long distances in a short period. This places tremendous pressure on their batteries which have limited capacity for storing energy. There is also another challenge of designing e-bikes that would work with and be responsive to apps on mobile devices.
The mountain/trekking e-bike segment is estimated to be the fastest-growing segment during the forecast period
The lithium ion battery segment is projected to lead the electric bike market
The lithium ion battery segment, by battery type is the largest segment as lithium-ion batteries are preferred in e-bikes presently. These batteries are smaller in size, long-lasting, and have more power-to-weight ratio than other batteries.
Asia Pacific is estimated to be the largest market in 2021
Asia Pacific is anticipated to lead the e-bike market during the forecast period due to the high sales of e-bikes in the region. According to MarketsandMarkets analysis, in terms of volume, Asia Pacific contributed about ~88% to the global electric bike market in 2020 by volume.
The European region accounted for approximately 39 % of the e-bike market. The European region was dominated by Germany, followed by France and Italy.
In Germany, e-bike is a preferred mode of commute. E-bikes are also used in this country for sports and leisure. They serve as a clean, quiet, and space-saving alternative for city logistics, in the country.
Key Players
Market Segmentation
By Class
By Speed
By Battery Type
By Motor Type
By Mode
By Components
By Usage
By Region
The study objectives of this report are:
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