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E-bike Market Size

The e-bike market is experiencing significant growth, driven by increasing adoption as a daily transportation mode globally. This expansion is attributed to the e-bike's environmental benefits, health advantages, and convenience, making them an attractive option for leisure and regular use. The market's expansion is supported by government initiatives promoting cycling, heightened environmental awareness, and the need for sustainable transportation solutions. While the Asia-Pacific region, particularly China, has historically dominated in unit sales, Europe is witnessing a surge in electric bike sales due to a growing preference for their use in transportation and leisure, bolstered by subsidies and tax incentives. North America is also seeing growth as the demand for low-speed two-wheelers rises, with bike-sharing programs incorporating electric bikes into their fleets.

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Market Size of e-bike Industry

E-bike Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 34.98 Billion
svg icon Market Size (2029) USD 51.78 Billion
svg icon Largest Share by Propulsion Type Pedal Assisted
svg icon CAGR (2024 - 2029) 8.16 %
svg icon Largest Share by Region Asia-Pacific
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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E-bike Market Analysis

The E-bike Market size is estimated at 34.98 billion USD in 2024, and is expected to reach 51.78 billion USD by 2029, growing at a CAGR of 8.16% during the forecast period (2024-2029).

34.98 Billion

Market Size in 2024 (USD)

51.78 Billion

Market Size in 2029 (USD)

17.09 %

CAGR (2017-2023)

8.16 %

CAGR (2024-2029)

Largest Segment by Propulsion Type

79.35 %

value share, Pedal Assisted, 2023

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Riders cycle more rapidly and easily on e-bikes with pedal assistance because they generate more power from the motor, making pedal assist the largest segment by propulsion type.

Largest Segment by Application Type

76.86 %

value share, City/Urban, 2023

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Due to the continuous usage of bikes for daily commuting by students, workers, and courier companies, city/urban bikes are the largest segment of the market.

Largest Segment by Battery Type

98.49 %

value share, Lithium-ion Battery, 2023

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Switching from lead-acid to lithium-ion batteries can lower the size and weight of the battery pack with quick battery charge and increase travel distance, making Li-ion the largest battery type.

Largest Country

31.89 %

value share, China, 2023

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The government's policies supporting the use of green technologies, including e-bikes, essentially drive the growth of the Chinese e-bike market.

Leading Market Player

5.94 %

market share, Yadea Group Holdings Ltd, 2022

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A strong customer base in APAC, brand awareness among people, offering quality products at effective prices, focus on customer requirements, and good customer support make Yadea the largest market player.

  • E-bikes are reliable and environmentally beneficial. They are also a great mode of transportation since they combine the comfort of a car with the fun of riding, which makes them particularly handy for leisure activities. An e-bike is quiet, produces no carbon emissions, provides a cheap form of transportation, conserves space, and promotes excellent health. The primary driving forces of the market's growth are increased awareness about fitness, rising environmental concerns, increased traffic congestion, and government initiatives to promote cycling.
  • E-bikes are an excellent means of transportation, particularly for recreational activities. These bikes enable customers to cross rugged terrains that would be difficult to navigate without an electric engine. People started looking for safe and comfortable modes of transportation during the COVID-19 pandemic, and the e-bike business is increasing as a result of the integration of e-bikes into regular use. These factors are increasing the popularity of e-bikes around the world.
  • With ever-increasing environmental and health concerns, governments and international organizations around the world are passing tough emission standards to limit carbon emissions. Some international organizations around the world have implemented severe vehicle standards. The rapid depletion of fossil fuel reserves has raised concerns about the sustainability of future generations. This aspect presents a significant challenge to governments and society. As a result, e-bikes are proven to be an excellent answer to the problem. 
Global E-bike Market

Country Level Overview

  • The market growth is mainly due to the increasing adoption of electric bikes as a mode of transportation on a daily basis globally. The market is seeing an upsurge in the unit sales of electric bikes based on their beneficial consumer characteristics, such as health benefits, economic mobility options, and convenience in riding.
  • In the Asia-Pacific electric bike or electric bicycle market, China, Japan, and Indonesia accounted for a major share of overall unit sales during the historical period. China held over 90% volume share in the global electric bike market in 2023. However, it has witnessed stagnant growth in recent years, and its market is almost at the saturation point. 
  • In Europe, electric bike sales have skyrocketed in recent years, with countries like Germany, Belgium, and the Netherlands selling major units of electric bikes. This trend is due to the growing preference for electric bikes in transportation, sports, and leisure activities. The subsidies and tax incentive programs on electric bikes in Sweden, Belgium, and France are likely to support the significant growth of the European electric bike market during the forecast period.
  • The North America electric bike market is growing as the preference for low-speed two-wheelers has increased in recent years. Various bike-sharing operators are including electric bikes in their fleets, which is expected to support the sales growth of these bikes in the near future.

E-bike Industry Segmentation

Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • E-bikes are reliable and environmentally beneficial. They are also a great mode of transportation since they combine the comfort of a car with the fun of riding, which makes them particularly handy for leisure activities. An e-bike is quiet, produces no carbon emissions, provides a cheap form of transportation, conserves space, and promotes excellent health. The primary driving forces of the market's growth are increased awareness about fitness, rising environmental concerns, increased traffic congestion, and government initiatives to promote cycling.
  • E-bikes are an excellent means of transportation, particularly for recreational activities. These bikes enable customers to cross rugged terrains that would be difficult to navigate without an electric engine. People started looking for safe and comfortable modes of transportation during the COVID-19 pandemic, and the e-bike business is increasing as a result of the integration of e-bikes into regular use. These factors are increasing the popularity of e-bikes around the world.
  • With ever-increasing environmental and health concerns, governments and international organizations around the world are passing tough emission standards to limit carbon emissions. Some international organizations around the world have implemented severe vehicle standards. The rapid depletion of fossil fuel reserves has raised concerns about the sustainability of future generations. This aspect presents a significant challenge to governments and society. As a result, e-bikes are proven to be an excellent answer to the problem. 
Propulsion Type
Pedal Assisted
Speed Pedelec
Throttle Assisted
Application Type
Cargo/Utility
City/Urban
Trekking
Battery Type
Lead Acid Battery
Lithium-ion Battery
Others
Region
Africa
By Country
South Africa
Rest-of-Africa
Asia-Pacific
By Country
Australia
China
India
Japan
New Zealand
South Korea
Rest-of-APAC
Europe
By Country
Austria
Belgium
Czech Republic
Denmark
Finland
France
Germany
Italy
Luxembourg
Netherlands
Norway
Poland
Spain
Sweden
Switzerland
UK
Rest-of-Europe
Middle East
By Country
Saudi Arabia
United Arab Emirates
Rest-of-Middle East
North America
By Country
Canada
Mexico
US
Rest-of-North America
South America
By Country
Argentina
Brazil
Rest-of-South America
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E-bike Market Size Summary

The e-bike market is experiencing significant growth, driven by increasing consumer awareness of fitness, environmental concerns, and the need for efficient transportation solutions. E-bikes offer a blend of comfort and fun, making them an attractive option for both leisure and daily commutes. The market is benefiting from government initiatives promoting cycling and stringent emission standards aimed at reducing carbon footprints. The COVID-19 pandemic has further accelerated the adoption of e-bikes as people sought safe and convenient transportation alternatives. This trend is expected to continue, with e-bikes becoming a more integrated part of daily life globally.

Regionally, the Asia-Pacific market, particularly China, Japan, and Indonesia, has been a major player in e-bike sales, although China is nearing market saturation. In Europe, countries like Germany, Belgium, and the Netherlands are leading in sales, supported by subsidies and tax incentives. North America is also witnessing growth, with increased interest in low-speed two-wheelers and bike-sharing programs. The global market is characterized by a fragmented landscape with key players such as Aima Technology Group, Giant Manufacturing, and Trek Bicycle Corporation. The market's expansion is further supported by the rising demand for e-bikes as a cost-effective, eco-friendly, and health-promoting mode of transportation.

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E-bike Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Propulsion Type

      1. 1.1.1 Pedal Assisted

      2. 1.1.2 Speed Pedelec

      3. 1.1.3 Throttle Assisted

    2. 1.2 Application Type

      1. 1.2.1 Cargo/Utility

      2. 1.2.2 City/Urban

      3. 1.2.3 Trekking

    3. 1.3 Battery Type

      1. 1.3.1 Lead Acid Battery

      2. 1.3.2 Lithium-ion Battery

      3. 1.3.3 Others

    4. 1.4 Region

      1. 1.4.1 Africa

        1. 1.4.1.1 By Country

          1. 1.4.1.1.1 South Africa

          2. 1.4.1.1.2 Rest-of-Africa

      2. 1.4.2 Asia-Pacific

        1. 1.4.2.1 By Country

          1. 1.4.2.1.1 Australia

          2. 1.4.2.1.2 China

          3. 1.4.2.1.3 India

          4. 1.4.2.1.4 Japan

          5. 1.4.2.1.5 New Zealand

          6. 1.4.2.1.6 South Korea

          7. 1.4.2.1.7 Rest-of-APAC

      3. 1.4.3 Europe

        1. 1.4.3.1 By Country

          1. 1.4.3.1.1 Austria

          2. 1.4.3.1.2 Belgium

          3. 1.4.3.1.3 Czech Republic

          4. 1.4.3.1.4 Denmark

          5. 1.4.3.1.5 Finland

          6. 1.4.3.1.6 France

          7. 1.4.3.1.7 Germany

          8. 1.4.3.1.8 Italy

          9. 1.4.3.1.9 Luxembourg

          10. 1.4.3.1.10 Netherlands

          11. 1.4.3.1.11 Norway

          12. 1.4.3.1.12 Poland

          13. 1.4.3.1.13 Spain

          14. 1.4.3.1.14 Sweden

          15. 1.4.3.1.15 Switzerland

          16. 1.4.3.1.16 UK

          17. 1.4.3.1.17 Rest-of-Europe

      4. 1.4.4 Middle East

        1. 1.4.4.1 By Country

          1. 1.4.4.1.1 Saudi Arabia

          2. 1.4.4.1.2 United Arab Emirates

          3. 1.4.4.1.3 Rest-of-Middle East

      5. 1.4.5 North America

        1. 1.4.5.1 By Country

          1. 1.4.5.1.1 Canada

          2. 1.4.5.1.2 Mexico

          3. 1.4.5.1.3 US

          4. 1.4.5.1.4 Rest-of-North America

      6. 1.4.6 South America

        1. 1.4.6.1 By Country

          1. 1.4.6.1.1 Argentina

          2. 1.4.6.1.2 Brazil

          3. 1.4.6.1.3 Rest-of-South America

E-bike Market Size FAQs

The Global E-bike Market size is expected to reach USD 34.98 billion in 2024 and grow at a CAGR of 8.16% to reach USD 51.78 billion by 2029.

In 2024, the Global E-bike Market size is expected to reach USD 34.98 billion.

E-Bike Market Report Snapshots

E-bike Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029