Global Electric Bikes Market size was valued at USD 50.5 Billion in 2024 and is expected to reach USD 64.4 Billion by 2033, at a CAGR of 4.7% during the forecast period 2024 – 2033.
Electric Bikes Market: Overview
An electric bike, also known as an e-bike, is a bicycle equipped with an electric motor to assist with propulsion. This motor is powered by a rechargeable battery, typically mounted on the frame. Electric bikes offer an eco-friendly alternative to traditional bicycles and motorized vehicles, providing enhanced mobility, especially for commuting, leisure, and recreational purposes.
Global trends in electric bikes are characterized by significant growth and innovation driven by several factors. Firstly, increasing environmental consciousness and concerns about urban congestion are driving demand for sustainable transportation solutions, with electric bikes offering a clean and efficient alternative.
Secondly, technological advancements in battery technology, motor efficiency, and smart connectivity features are enhancing the performance and appeal of electric bikes, leading to improved range, power, and user experience.
Additionally, governments worldwide are implementing supportive policies, such as subsidies and infrastructure development, to promote electric bike adoption further. Moreover, changing consumer lifestyles, including a preference for active and eco-friendly modes of transportation, are contributing to the rising popularity of electric bikes.
By propulsion type, the pedal assist segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Pedal assist electric bikes are experiencing trends toward lightweight designs, longer battery life, and seamless integration of motor systems into bike frames.
Enhanced connectivity features and customizable ride modes are also gaining prominence, offering riders more control and convenience for urban commuting and recreational cycling.
By battery type, the lead acid segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Lead-acid battery trends driving electric bikes due to advancements in battery technology, such as improved energy density and longer lifespan, enhancing performance and range.
Additionally, cost reductions and environmental concerns favoring recycling and sustainable practices contribute to the continued use and development of lead-acid batteries in electric bikes.
By application, the city/urban segment held the highest market share in 2022. Urban cities drive the electric bike market due to congestion, pollution concerns, and the need for sustainable transportation. Electric bikes offer a clean, efficient, and convenient solution for urban commuters, providing a faster and more flexible alternative to traditional vehicles in dense urban environments.
Rapid urbanization, increasing disposable income, and expanding middle-class populations in the Asia-Pacific region are driving the electric bike market. With rising demand for motorcycles as a primary mode of transportation, particularly in densely populated urban areas, there is a corresponding surge in the need for durable and reliable electric bikes.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 50.5 Billion |
| Projected Market Size in 2033 | USD 64.4 Billion |
| Market Size in 2023 | USD 44.5 Billion |
| CAGR Growth Rate | 4.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Propulsion Type, Battery Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Custom Market Insights has comprehensively analyzed electric bikes market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this electric bike industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Electric Bikes Market:
- Giant Manufacturing Co. Ltd.
- Trek Bicycle Corporation
- Accell Group
- Yamaha Motor Co. Ltd.
- Bosch eBike Systems
- Shimano Inc.
- Specialized Bicycle Components Inc.
- BionX International Corporation
- Brompton Bicycle Ltd.
- Pedego Electric Bikes
- Cannondale (Dorel Industries)
- Stromer
- Gazelle
- Riese & Müller GmbH
- Rad Power Bikes
- Cube Bikes
- Moustache Bikes
- Bulls Bikes
- Merida Industry Co. Ltd.
- Focus Bikes
- Others
Giant introduced the latest Trance X 29er model, featuring a forged composite carbon fiber upper rocker link. Giant asserts that this component offers superior strength, stiffness, and reduced weight compared to its aluminium counterpart.
The Electric Bikes Market is segmented as follows:
By Propulsion Type
- Pedal Assist
- Throttle
By Battery Type
- Lead Acid
- Lithium-Ion
- Nickel Metal Hydride
- Others
By Application
- City/Urban
- Trekking
- Cargo
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America