E-bike Market

The global e-bike market was valued at USD 14,755.20 million in 2018, and is expected to grow at a CAGR of 6.39%, during the forecast period, 2019-2024.

• Apart from the growing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market studied during the forecast period.
• The market has been segmented by propulsion type and application type. In 2018, by propulsion type, pedal-assisted e-bikes dominated the market, and accounted for 88.32% of the global market. By application type, city/urban e-bikes dominated the market.
• Asia-Pacific is expected to dominate the global market. In Asia-Pacific, China dominated the regional market. The largest consumption of electric bikes is in China that has boosted the sales figure, and thus influencing the growth of the global market for electric bikes. The import and export volumes in China are also large, and China has always been the largest exporter of electric bikes. The Government of India has also encouraged to use electric bikes. By the end of 2035, the government is looking forward to convert fuel vehicles into electric vehicles.
• Some of the major players in the e-bike market are Giant Bicycles, Merida, Trek Bikes, Riese & Muller, and M1 Sporttechnik.

Scope of the Report

E-bike, commonly known, as an electric bicycle, is a bike that has an integrated electric motor aligned to the pedals of the bicycle, which supplies differential force used for forward movement of the bicycle. The electric bikes majorly use Li-ion chargeable battery, and have a range of maximum 99.4 miles (160 km) in one single charge. These bicycles are available with battery type of either 8, 12, or 18-amp hour batteries.

The e-bike market has been segmented by propulsion type, application type, and geography.

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Key Market Trends

Pedelec Dominated the Global Market and Expected to Witness Fast Growth Rate

The global pedal-assisted or pedelec market is expected to reach USD 18,655.90 million by 2024, and is expected to witness the fastest growth rate.

An e-bike works much like a traditional bicycle, with pedals that the rider has to manually operate to turn the wheels. However, additional power is supplied by a battery-powered motor that mounts on the front or back wheel, depending on the type of bike.

Pedelec, an acronym for a pedal-assisted electric cycle, is an electric motor-supported bicycle.  The chargeable battery-supported electric motor is intended to aid in pedaling.

Some of the benefits offered by these bikes are as follows – ease of travelling (especially long distances); best suitable for recreational activities, such as hill climbing; ease of carrying heavy loads; ensure fitness of the consumers (owing to growing health concerns among baby boomers and consumers (especially professionals)); and save money.

Moreover, the demand for e-bikes is also increasing among youth, as their lifestyle is gradually shifting toward adventure sports, such as cycling up hills. Moreover, with shifting battery manufacturing base to the emerging markets, such as China, the battery prices have declined significantly, over the past few years, thereby, resulting in reduced cost of the e-bikes and pedelecs.

Furthermore, with the consistent technological advancements, the pedelecs manufacturers are focusing on enhancing the overall user interface, by designing and developing pedelecs that can integrate with the rider’s smartphones, and provide them real-time information of their speed and battery status of the pedelecs.

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