E-bike Market

Global E-bike Market Size (2024 to 2032)

The global e-bike market size was valued at USD 44.3 billion in 2023 and is anticipated to reach USD 49.94 billion in 2024 from USD 129.83 billion by 2032, growing at a CAGR of 12.69% from 2024 to 2032.

The E-bike is a bicycle, motorcycle, or scooter with an integrated electric motor for the drive without any pollution. The electric bike is classified based on the power of the electric motor, speed, battery type, conversion kits & some other categories. The E-bike market estimated that class -1 is the largest segment in the global market. These electric bikes are environmentally friendly and do not create pollution. Other vehicles are now available for transportation and daily use, such as E-bus, E-4 wheelers, etc. 

In the electric bike market, batteries are highly priced and cannot be afforded by all people. Also, these bikes run on different types of cells that require frequent charging. For the charging of electric bikes, the challenge in front of the companies is the number of charging stations and land. There is less number of charging stations in every country. 

E-bikes are considered a feasible transportation option due to their power capacity and moderate speed. In 2019, two electric scooters were launched in the Indian market, ENTRANCE & EPLUTO with a long-range 120km/charge. The Indian government has published that it would become a 100% electric vehicle nation by 2030. Based on government subsidies, demand from consumers, GDP growth, also urbanization the market forecasted growth.  

Market Drivers

Cycling is beneficial for physical & mental health. Tourists prefer e-bikes for self-driving, even though they have no licensing requirements. Many cities provide awareness about the use of e-bikes for transportation in cities, office places, etc. E-bikes have low carbon emissions, and they can also be charged on solar power. Countries like China are facing traffic problems in crowded places, and the government is taking the initiative to manufacture e-bikes as a solution to reduce pollution and traffic.

Market Restraints

E-bikes show continuous innovation, growth, & development. The primary concern is that the e-bike is the battery. These batteries are made of lithium-ion; due to this, they have a limited life span. There are limited companies that produce this type of battery & the cost and maintenance are more effective.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global E-bike Market By Product Type

The pedelecs market is highly dominating, with the adoption rate increasing rapidly. This is because of the speed difference & power. The global pedelecs market is growing at a CAGR of 7.74% during 2018-2022, owing to the high demand for eco-friendly transportation of e-bikes. E-scooters are adopted by the young population, and the sale of e-scooters has increased in middle-class communities in developing countries. The scooter is affordable for transportation. There is an increase in urbanization and moving from one to another, which will increase the opportunity for e-bikes. 

Global E-bike Market By Battery Type

Based on battery type, Lithium-ion batteries, lithium-ion polymer batteries, lead-acid battery & others are notable. Lithium-ion batteries are lightweight, low cost, and high capacity. These are 12- or 18-amp-hour batteries. The lead-acid battery is low-cost & easy to recycle.

Global E-bike Market By Mechanism

Depending upon the mechanism, hub motors and mid-drive are the main variants. Hub Motors are leading in the market for e-bikes. Hub motors are heavy, and they are used as applications in e-bikes. It degrades greenhouse gas emissions in the environment.

REGIONAL ANALYSIS

Lithium-ion batteries & lead acid batteries always represent the largest segment of e-bike sales. China is a leading player in the e-bike market for low cost & popularity. In 2019, China contributed around 84% of the overall revenue in the Asia Pacific. The adoption of nickel batteries is augmenting in Europe & North American nations. 

The Asia Pacific region is the most dominating in the global electric bicycle market. The government of India is taking initiatives for e-bike manufacturing in its domestic market. The government of the nation also announced the financial support & schemes and their subsidy. The growth in this area is accelerated because of an increase in the number of e-scooter manufacturing & their charging infrastructure, as investments in some countries such as Taiwan, India, etc. There is a rising demand for an e-bike in Germany, France, the Netherlands & the UK in the European area. 

COMPETITOR SCENARIO

The companies like Yamaha Motor Pvt Ltd and Mahindra applied their strategies in the market to expand their fleets to national as well as international markets the companies launched their e-bike & also invested in the installation of charging station infrastructure in various countries.

KEY MARKET PLAYERS

Giant Manufacturing Co. Ltd, Merida Industry Co. Ltd, Leader 96, BH Bikes, Pedego Electric Bikes, Yamaha Motor Co, Accell Group N.V, Energica Motor Co., Mahindra & Mahindra Ltd., Robert Bosch GmbH. some of the market players dominate the global E-bike market.

RECENT DEVELOPMENTS IN THE GLOBAL E-BIKE MARKET

• In 2019, a Gurugram-based electric 2-wheeler manufacturing company invested Rs.200 crore in setting up the second-largest manufacturing plant in Rajasthan, that is Okinawa Autotech.
• In 2019, the Swiss e-bike group buys Protanium & Diavelo from Accell, the purchasing company (Protanium GmbH) acquired the license to the Protanium in-frame battery technology and also Accell retains ownership of the technology. 
• In 2018, Hero Cycles Ltd. & Yamaha Motor Co. Ltd signed a joint venture, also a trading and investment enterprise, with Mitsui & Co. Ltd. of Japan. The main focus is the development of e-mobility products, manufacturing, and marketing of a new range of e-bikes. In 2019, they launched the electric cycle in the domestic market.
• Mercedes-Benz has decided to start the company’s first full E-car in India soon.

DETAILED SEGMENTATION OF THE GLOBAL E-BIKE MARKET INCLUDED IN THIS REPORT

This research report on the global e-bike market has been segmented and sub-segmented into the following categories.  

By Product Type

• Scooter
• Motorcycle 
• Pedelecs   

By Battery Type

• Lithium-ion
• Nickel-metal Hydride 
• Lead Acid

By Mechanism

• Hub Motors
• Mid-Drive

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa