Market Size of e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 34.98 Billion |
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Market Size (2029) | USD 51.78 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 8.16 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
E-bike Market Analysis
The E-bike Market size is estimated at 34.98 billion USD in 2024, and is expected to reach 51.78 billion USD by 2029, growing at a CAGR of 8.16% during the forecast period (2024-2029).
34.98 Billion
Market Size in 2024 (USD)
51.78 Billion
Market Size in 2029 (USD)
17.09 %
CAGR (2017-2023)
8.16 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.35 %
value share, Pedal Assisted, 2023
Riders cycle more rapidly and easily on e-bikes with pedal assistance because they generate more power from the motor, making pedal assist the largest segment by propulsion type.
Largest Segment by Application Type
76.86 %
value share, City/Urban, 2023
Due to the continuous usage of bikes for daily commuting by students, workers, and courier companies, city/urban bikes are the largest segment of the market.
Largest Segment by Battery Type
98.49 %
value share, Lithium-ion Battery, 2023
Switching from lead-acid to lithium-ion batteries can lower the size and weight of the battery pack with quick battery charge and increase travel distance, making Li-ion the largest battery type.
Largest Country
31.89 %
value share, China, 2023
The government's policies supporting the use of green technologies, including e-bikes, essentially drive the growth of the Chinese e-bike market.
Leading Market Player
5.94 %
market share, Yadea Group Holdings Ltd, 2022
A strong customer base in APAC, brand awareness among people, offering quality products at effective prices, focus on customer requirements, and good customer support make Yadea the largest market player.
- E-bikes are reliable and environmentally beneficial. They are also a great mode of transportation since they combine the comfort of a car with the fun of riding, which makes them particularly handy for leisure activities. An e-bike is quiet, produces no carbon emissions, provides a cheap form of transportation, conserves space, and promotes excellent health. The primary driving forces of the market's growth are increased awareness about fitness, rising environmental concerns, increased traffic congestion, and government initiatives to promote cycling.
- E-bikes are an excellent means of transportation, particularly for recreational activities. These bikes enable customers to cross rugged terrains that would be difficult to navigate without an electric engine. People started looking for safe and comfortable modes of transportation during the COVID-19 pandemic, and the e-bike business is increasing as a result of the integration of e-bikes into regular use. These factors are increasing the popularity of e-bikes around the world.
- With ever-increasing environmental and health concerns, governments and international organizations around the world are passing tough emission standards to limit carbon emissions. Some international organizations around the world have implemented severe vehicle standards. The rapid depletion of fossil fuel reserves has raised concerns about the sustainability of future generations. This aspect presents a significant challenge to governments and society. As a result, e-bikes are proven to be an excellent answer to the problem.
Understand The Key Trends Shaping This Market
Country Level Overview
- The market growth is mainly due to the increasing adoption of electric bikes as a mode of transportation on a daily basis globally. The market is seeing an upsurge in the unit sales of electric bikes based on their beneficial consumer characteristics, such as health benefits, economic mobility options, and convenience in riding.
- In the Asia-Pacific electric bike or electric bicycle market, China, Japan, and Indonesia accounted for a major share of overall unit sales during the historical period. China held over 90% volume share in the global electric bike market in 2023. However, it has witnessed stagnant growth in recent years, and its market is almost at the saturation point.
- In Europe, electric bike sales have skyrocketed in recent years, with countries like Germany, Belgium, and the Netherlands selling major units of electric bikes. This trend is due to the growing preference for electric bikes in transportation, sports, and leisure activities. The subsidies and tax incentive programs on electric bikes in Sweden, Belgium, and France are likely to support the significant growth of the European electric bike market during the forecast period.
- The North America electric bike market is growing as the preference for low-speed two-wheelers has increased in recent years. Various bike-sharing operators are including electric bikes in their fleets, which is expected to support the sales growth of these bikes in the near future.
