Market Size of north america e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 3.45 Billion |
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Market Size (2029) | USD 7.54 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 16.91 % |
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Largest Share by Country | US |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America E-bike Market Analysis
The North America E-bike Market size is estimated at 3.45 billion USD in 2024, and is expected to reach 7.54 billion USD by 2029, growing at a CAGR of 16.91% during the forecast period (2024-2029).
3.45 Billion
Market Size in 2024 (USD)
7.54 Billion
Market Size in 2029 (USD)
25.98 %
CAGR (2017-2023)
16.91 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.58 %
value share, Pedal Assisted, 2023
In most of the countries in the region, with speeds lesser than 45 Kmph, are not subject to the requirement of driver’s license, registration, certificates of title, and license plates, thus boosting the demand for pedal-assisted e-bikes in recent years.
Largest Segment by Application Type
81.91 %
value share, City/Urban, 2023
The increased demand for e-bikes post-COVID-19, due to the shift away from mobility and public transit to reduce the risk of infection, has supported the demand for city/urban e-bikes.
Largest Segment by Battery Type
91.18 %
value share, Lithium-ion Battery, 2023
Prices of batteries have been falling sharply over the last 10 years, at a rate of ~20% annually. The fall is expected to continue at a rate of around 10% annually over the next five years. The decline in battery prices is expected to increase the demand further during the forecast period.
Largest Country
98.74 %
value share, US, 2023
In North America, the US e-bike market is gaining momentum as users are adopting e-bikes not only for recreational or health purposes but also for commuting from one place to other.
Leading Market Player
5.51 %
market share, Trek Bicycle Corporation, 2022
Trek is the market leader in North America due to its strong focus on R&D investments for upgrading plants, distribution networks, and products. The company offers a wide range of products and solutions related to e-bikes through a wide distribution network.
PROPULSION SEGMENT MARKET OVERVIEW
- The electric vehicle industry is steadily revolutionizing the automobile sector in North America, mostly with the yearly introduction of increasingly efficient and powerful electric vehicles. Apart from being a cleaner and greener mode of transportation for short distances, e-bikes are being used across a wide range of industries and applications in the United States. The long-term benefits of riding a pedal-assisted e-bike involve working out while traveling to and from work instead of having to set aside a specific time for exercising. Most employees spend their workdays sitting at their desks. E-bikes help in exercising while saving time.
- In order to address major issues like traffic congestion and pollution, regional governments are boosting the construction of e-bike infrastructure. Several businesses are entering the market with innovative pedal-assisted e-bikes. Many companies are working on more product innovations to cater to these issues.
- Transportation agencies and other organizations are investing in e-bike rentals and sharing passes to increase the popularity of electronic modes of travel. E-bikes are typically fitted with GPS, thereby helping operators and organizations plan systematic expansions by analyzing mobility data. Future technology-based vehicles, like speed pedelecs and pedal-assisted bikes with higher functionalities, are expected to meet the enormous demand for and the sales of e-bikes in the North American region.
Understand The Key Trends Shaping This Market
NORTH AMERICA COUNTRY LEVEL MARKET OVERVIEW
- The North American market for e-bikes is an extremely fragmented one, with the presence of both local and international players in the region. Major cities in the region face transportation challenges related to traffic congestion, injury and loss of life due to road crashes, local air quality, climate change, obesity and physical inactivity, economic burden, and the international supply rate of oil. Shifting people from cars to other modes of transportation, such as bicycles, can help address these challenges.
- The demand for e-bikes in North America is soaring as commuters are looking for suitable means of personal transportation. Purchasing an e-bike leads to increased commute, rising from 2.1 km to 9.2 km per day on average. E-bikes can be used by people of different age groups. Younger people use them for commutes and exercise, and older people mainly use them for shorter and safer commutes.
- Local governments are encouraging the use of e-bikes on public roadways to help in the process of electrification. According to the aforementioned trends, the demand for e-bikes for last-mile deliveries and public bicycle-sharing networks is likely to rise in the future.
