Market Size of canada e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 33.76 Million |
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Market Size (2029) | USD 86.27 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 20.64 % |
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Fastest Growing by Propulsion Type | Speed Pedelec |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Canada E-bike Market Analysis
The Canada E-bike Market size is estimated at 33.76 million USD in 2024, and is expected to reach 86.27 million USD by 2029, growing at a CAGR of 20.64% during the forecast period (2024-2029).
33.76 Million
Market Size in 2024 (USD)
86.27 Million
Market Size in 2029 (USD)
11.49 %
CAGR (2017-2023)
20.64 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
80.10 %
value share, Pedal Assisted, 2023
The market was dominated by the pedal-assisted e-bike segment mainly due to the fact that pedal-assisted e-bikes do not require registration and licensing and face lesser regulations than other categories.
Largest Segment by Application Type
75.84 %
value share, City/Urban, 2023
The demand for city/urban e-bikes has grown significantly in the historical period due to the growing cycling infrastructure across the country. Increased bike-sharing programs and bike rental services have supported the demand for city/urban e-bikes.
Largest Segment by Battery Type
86.25 %
value share, Lithium-ion Battery, 2023
Li-ion batteries have a higher density than sealed lead-acid batteries, making them lighter and more efficient. Over the past few years, the prices of lithium-ion batteries have seen a significant decline, making them an ideal choice as e-bike batteries.
Fastest-growing Segment by Propulsion Type
5.96 %
Projected CAGR, Speed Pedelec, 2024-2029
The increased consumer preference for superior comfort, safety, power, and larger load capacity is expected to benefit the speed pedelec segment during the forecast period.
Leading Market Player
12.08 %
market share, Trek Bicycle Corporation, 2022
Trek Bicycle Corporation dominates the Canadian e-bike market. The company offers a diverse product line that appeals to a wide spectrum of consumers and has a strong dealer network across the country.
PROPULSION SEGMENT MARKET OVERVIEW
- In Canada, there is no classification system for electric bikes. However, e-bikes in Canada cannot exceed 500 W or 32 kmph. E-bikes with pedal-assisted and throttle-assisted functions are legal in Canada. For example, in June 2021, the Transportation and Environment Ministry of Canada awarded USD 200,000 to fund the City of Vancouver's pilot project to build an e-bike micro hub. Trucks will transfer packages to the hub, where they will be transported by cargo e-bikes to their final destination.
- E-bikes are being recognized as a new mode of transportation in cities across Canada, including Toronto and British Columbia. British Columbia provides an e-bike subsidy, potentially creating a market opportunity. Vancouver offers one of the most extensive e-bike retail outlets in British Columbia. The North Vancouver District develops comprehensive regulations for e-bike charging infrastructure.
- Rising government spending on bike-sharing programs, bike lanes, and more pedestrian-friendly streets is expected to increase consumer interest in e-bikes in the coming years as part of the government's broader efforts to promote transportation options, improve road safety, and better the environment. Electric bicycles, for example, are listed as one of the emerging forms of transportation in Vancouver's Transportation 2040 plan. E-bikes may eventually become the most eco-friendly mode of transportation in Canada in the future.
Understand The Key Trends Shaping This Market
