E-Bike Market to Reach Valuation of USD 86.0 Billion by 2028 – Government Support &Projects to BoostE-Bike Sales Drives the Market

Vantage Market Research

Dec 21, 2022

In terms of revenue, the Global E-Bike Market is expected to reach USD 86.0 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 8.38 % from 2022 to 2028.

Electric bikes are a convenient, environmentally friendly, and adaptable transportation. Customers view them as the best alternative to smart automobiles, transportation, and scooters. Due to their compact design, they enable higher speed with little effort and provide several health advantages. They also help to reduce traffic congestion. All these aspects are anticipated to increase demand for E-Bike on a global scale. Also, many countries are launching programs to reduce carbon footprints by promoting using bicycles, electric vehicles, and other personal transportation. The growing understanding of the negative impacts of fossil fuel-powered cars also fuels this tendency. Governments are also concentrating on building bicycle-friendly roadways, which promote using bicycles as transportation. The increasing popularity of E-Bike can also attribute to the industry's ongoing technological improvements.

Key Highlights from Report

· Based on Product, the Lead-acid Battery E-Bike segment dominated the overall market in 2021 with the maximum market share and is expected to continue its dominance in the future. This is due to the different benefits of lead-acid batteries, like robustness and low costs.

· Among Applications, the Commercial segment accounted for the highest CAGR in the forecast period owing to increased &&.

· In terms of region, Asia Pacific holds the major market share within the E-Bike market. Developing economies in the Asia Pacific area, including China and India, are anticipated to contribute to growth in the upcoming years significantly.

Market Dynamics

The electric bike market will expand faster thanks to the increase in shared micro-mobility usage. The ecology of public transportation includes shared micro-mobility. Shared electric micro-mobility, a flexible mode of transportation with minimal operating costs and overhead, can supplement higher-volume fixed-route transit systems by offering mobility services for numerous trips at a lower per-traveler price. By avoiding strict auto emissions regulations, an increasing number of countries worldwide are promoting expanding the E-Bike business. Reduced vehicle emissions of hazardous particles will help to clean the air. Mountain biking has significantly increased in popularity over the past two years due to the increased demand for cycling worldwide. In addition, the incredible growth in tourism and adventure travel is expected to fuel the market's expansion for e-MTBs.

Bicycles are becoming increasingly popular globally as the need for eco-friendly transportation grows. This is primarily due to the numerous advantages of cycling, including reduced CO2 emissions, air pollution, and noise pollution from other modes of transportation, cost savings on fuel, improved public health, reduced traffic congestion, and lowered costs for the construction and upkeep of road infrastructure. Additionally, the emergence of new markets and the development of lightweight electrical energy storage systems will affect the market's growth rate and increase favorable possibilities in the years to come.

Geographically, the market in the Asia Pacific is expected to have considerable market growth with the most growth rate throughout the projection period. The growing demand for environmentally friendly transportation and expanding government initiatives are responsible for the region's market expansion. Due to their rising consumer expenditures, China and India comprise a sizeable portion of this region's market. Additionally, the Asia Pacific region is experiencing many technology improvements together with a continually expanding charging infrastructure, which is anticipated to drive market growth in the Asia Pacific. The existence of significant key players will further accelerate the market's growth rate in this area.

The Global E-Bike Market is Segmented as follows

  • Class
    • Class-I
    • Class-II
    • Class-III
  • Speed
    • Up to 25km/h
    • 25-45km/h
  • Battery Types
    • Lithium-ion
    • Lithium-ion Polymer
    • Lead Acid
    • Other Battery Types
  • Motor Types
    • Hub
    • Mid
  • Modes
    • Pedal Assist
    • Throttle
  • Components
    • Batteries
    • Electric Motors
    • Frames With Forks
    • Wheels
    • Crank Gears
    • Brake Systems
    • Motor Controller
  • Usage
    • Mountain
    • Trekking
    • City/Urban
    • Cargo
    • Other Usages
  • Ownership
    • Shared
    • Personal
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

List of the Key Players of the Global E-Bike Market is

Accell Group (Netherlands), Derby Cycle (Germany), Fuji-ta Bicycle Co. Ltd. (China), Giant Manufacturing Co. Ltd. (Taiwan), Jiangsu Xinri E-Vehicle Co. Ltd. (China), Mahindra & Mahindra Ltd. (India), Prodecotech LLC (US), Tianjin Golden Wheel Group Co. Ltd. (China), Trek Bicycle Corporation (US), Yamaha Motor Co. Ltd. (Japan)

The Global E-Bike Market Scope can be Tabulated as below

Parameter Details
Market Size Provided for Years 2018 - 2032
Base Year 2023
Historic Years 2018 - 2022
Forecast Years 2024 - 2032
Segments Covered
  • Class
    • Class-I
    • Class-II
    • Class-III
  • Speed
    • Up to 25km/h
    • 25-45km/h
  • Battery Types
    • Lithium-ion
    • Lithium-ion Polymer
    • Lead Acid
    • Other Battery Types
  • Motor Types
    • Hub
    • Mid
  • Modes
    • Pedal Assist
    • Throttle
  • Components
    • Batteries
    • Electric Motors
    • Frames With Forks
    • Wheels
    • Crank Gears
    • Brake Systems
    • Motor Controller
  • Usage
    • Mountain
    • Trekking
    • City/Urban
    • Cargo
    • Other Usages
  • Ownership
    • Shared
    • Personal
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa
Regions & Counties Covered
  • North America
    • U.S.
    • Canada
    • Mexic
  • Eurpe
    • U.K
    • France
    • Germany
    • Italy
    • Spain
    • Rest Of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Suth Korea
    • South East Asia
    • Rest Of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest Of Latin America
  • Middle East & Africa
    • GCC Cuntries
    • South Africa
    • Rest Of Middle East & Africa
Companies Covered
  • Accell Group (Netherlands)
  • Derby Cycle (Germany)
  • Fuji-ta Bicycle Co. Ltd. (China)
  • Giant Manufacturing Co. Ltd. (Taiwan)
  • Jiangsu Xinri E-Vehicle Co. Ltd. (China)
  • Mahindra & Mahindra Ltd. (India)
  • Prodecotech LLC (US)
  • Tianjin Golden Wheel Group Co. Ltd. (China)
  • Trek Bicycle Corporation (US)
  • Yamaha Motor Co. Ltd. (Japan)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

E-Bike Market Size, Share & Trends Analysis Report by Class (Class-I, Class-II, Class-III), by Speed (Up to 25km/h, 25-45km/h), by Battery Types (Lithium-ion, Lithium-ion Polymer, Lead Acid, Other Battery Types), by Motor Types (Hub, Mid), by Modes (Pedal Assist, Throttle), by Components (Batteries, Electric Motors, Frames With Forks, Wheels), by Usage (Mountain, Trekking, City/Urban, Cargo), by Ownership (Shared, Personal), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)