E-bike Market Size Share, Trend, and Growth Report 2030

E-bike Market

E-bike Market by Type (Pedal Assisted and Throttle Assisted), by Usage (Mountain/Trekking, Urban/City and Cargo), by Battery Type (Lithium-ion battery and Lead Acid Battery), by Power (Less than equal to 250W, above 250W): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Category: Technology & Media Report Format : PDF Pages: 145 Report Code: ZMR-6402 Published Date: Jul-2021 Status : Published
Market Size in 2020 Market Forecast in 2028 CAGR (in %) Base Year
  USD 22.1 Billion    USD 52.18 Billion     11.4% 2020

Market Overview

The global E-bike Market accounted for USD 22.1 Billion in 2020 and is expected to reach USD 52.18 Billion by 2028, growing at a CAGR of 11.4% from 2021 to 2028.

An electric bicycle, commonly known as an e-bike is a bicycle with an integrated electric motor and rechargeable battery used to assist propulsion. Once fully charged, the e-bikes can travel up to 25 to 32 kmph. Electric bikes are a versatile, eco-friendly, flexible and trendy mode of transport, and as a result consumers are increasingly looking up to them as an ideal substitute for smart cars, scooters, and public transport. Their ease of use and associated health benefits can be attributed as the driving factors for the market.

Technological advancements in the market are leading to the creation of innovative e-bikes. One such development is the connected e-bike, which uses a SIM module to send and receive data to and from the cloud without the use of a smartphone. Automatic emergency call, integrated navigation and social media connection are a few of the significant features offered by the connected e-bike. E-bikes are also being used as sustainable measures to combat environmental pollution and fossil fuel depletion. Several countries are encouraging the use of e-bikes as an alternative to public transport.

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COVID-19 Impact Analysis

Cycling and walking gained momentum during the Covid-19 pandemic. People were encouraged to travel on foot or bikes in order to avoid crowded public transport. E-bikes have emerged as an attractive option, especially for consumers who find it difficult to manually pedal for long durations, causing a surge in sales in 2020.  Additionally, e-bikes offer a carbon-neutral and affordable transport alternative that can easily recharged and combined thereby adding to the popularity during the pandemic.

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Growth Factors

Increasing fuel prices, a rising demand for environmentally responsible commute options, and an increase in the usage of cycling as a recreational activity are a few of the key factors driving the global e-bike market. E-bikes are fast and flexible, support assisted biking, help improve fitness, sustainable and thus are being considered as the future of transportation.

Additionally, factors such as favorable government laws and regulations, as well as an increase in subsidies to promote the manufacture of e-bikes are also expected to boost the market. This coupled with growing investment in the development of the bicycle infrastructure and advancement in battery technology can significantly contribute to the growth of the global market.

Battery Type Segment Analysis Preview

Lithium-ion battery segment held a share of over 42% in 2020. Lithium-ion batteries are more environmentally friendly, have a longer life cycle, and produce more power per pound of weight than other battery types. They are also cost-effective and are considered as the best combination of total weight and capacity thus leading to their wide popularity.

Type Industry Segment Analysis Preview

Pedal assisted segment will grow at a CAGR of over 10.1% from 2021 to 2028. Pedal-assisted bikes or pedelecs are expected to be the fastest-growing category during the forecast period. Pedelecs have various advantages over traditional bicycles, including increased mobility, which is beneficial for elderly persons while climbing hills, the ability to cover more distances in less time than standard bicycles, and the need for less effort when riding uphill or against the wind.

Regional Analysis Preview

The European region held a share of around 38% in 2020. E-bikes are widely popular in Europe, particularly in Germany and Netherlands, are a preferred mode of commute and thus represent one of the fastest growing segments in the transport market in Europe. E-bikes are also used for sports and leisure. In this region, they serve as a peaceful, clean, and space-saving option for city logistics. As per a recent study, Europeans are expected to purchase an extra 10 million bikes per year by 2030, 47% more than the annual number in 2019.

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The Asia Pacific region is projected to grow at a CAGR of around 10.8% over the forecast period. This surge is due to the increasing consumption of e-bikes in countries like China, rising demand for eco-friendly commuting, and growing concerns for carbon emissions. It can also be attributed to the presence of top producers of e-bikes of such as Yamaha and Merida that have already established a global presence and made their way into US and European markets.

E-bike Market: Report Scope

Report Attributes Report Details
Report Name E-bike Market Report
Market Size in 2020 USD 22.1 Billion
Market Forecast in 2028 USD 52.18 Billion
Growth Rate CAGR of 11.4%
Number of Pages 145
Key Companies Covered Yamaha Motor Corporation, Giant Manufacturing, Merida Industry Co. Ltd., Riese & Müller GmBH, Fritzmeier Systems GmbH & Co. KG, Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Jiangsu Xinri E-Vehicle Co. Ltd. and Mahindra & Mahindra Ltd. among others.
Segments Covered By Type, By Usage, By Battery Type, By Power, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2020
Historical Year 2017 to 2020
Forecast Year 2021 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Key Market Players & Competitive Landscape

Some of key players in the automated sortation system market are

  • Yamaha Motor Corporation
  • Giant Manufacturing
  • Merida Industry Co. Ltd.
  • Riese & Müller GmBH
  • Fritzmeier Systems GmbH & Co. KG
  • Accell Group, Derby Cycle
  • Fuji-ta Bicycle Co.
  • Jiangsu Xinri E-Vehicle Co. Ltd. and Mahindra & Mahindra Ltd. among others. 

Major producers are focusing on new and innovative product launches to stay competitive. Merida Industry Co. Ltd. for instance, in November 2019 launched new models of its eBIG.TOUR and eBIG.NINE e-bikes, with a number of new and improved features in comparison to its predecessor. Giant in October 2019 launched the Revolt E+ Pro, a versatile drop-bar e-bike that’s designed for variable terrain, including roads, gravel, and dirt

The global e-bike market is segmented as follows:

By Type

  • Pedal Assisted
  • Throttle Assisted

By Usage

  • Mountain/Trekking
  • City/Urban
  • Cargo

By Battery Type

By Power

  • Less than equal to 250W
  • Above 250W
  • Lead Acid Battery

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global e-bike market was valued at USD 22084.9 Million in 2020.

The global e-bike market is expected to reach USD 52188.3 Million by 2028, growing at a CAGR of 11.4% between 2021 to 2028.

Some of the key factors driving the global e-bike market growth are its associated health benefits, ease of use and rising demand for environmentally responsible commute options.

European region held a substantial share of the e-bike market in 2020. This is attributable to e-bikes being the preferred mode of commute and one of the fastest growing segments in the transport market in Europe. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for e-bikes in developing economies such as China and Taiwan.

 

Some of the major companies operating in the e-bike market are Yamaha Motor Corporation, Giant Manufacturing, Merida Industry Co. Ltd., Riese & Müller GmBH, Fritzmeier Systems GmbH & Co. KG, Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Jiangsu Xinri E-Vehicle Co. Ltd. and Mahindra & Mahindra Ltd. among others.

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