Market Size of norway e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 153.83 Million |
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Market Size (2029) | USD 241.92 Million |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 9.48 % |
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Fastest Growing by Propulsion Type | Throttle Assisted |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Norway E-bike Market Analysis
The Norway E-bike Market size is estimated at 153.83 million USD in 2024, and is expected to reach 241.92 million USD by 2029, growing at a CAGR of 9.48% during the forecast period (2024-2029).
153.83 Million
Market Size in 2024 (USD)
241.92 Million
Market Size in 2029 (USD)
10.43 %
CAGR (2017-2023)
9.48 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
81.79 %
value share, Pedal Assisted, 2023
Riders may cycle more rapidly and easily on e-bikes with pedal assistance because they generate more power from the motor, which makes pedal-assisted e-bikes the largest segment by propulsion type.
Largest Segment by Application Type
81.73 %
value share, City/Urban, 2023
City/urban bike is the largest category in application type due to the increased awareness about the benefits of cycling, such as quicker travel times in traffic, easy parking, and fuel savings.
Largest Segment by Battery Type
99.63 %
value share, Lithium-ion Battery, 2023
The lithium-ion battery segment is the largest segment by battery type. The adoption of Li-ion batteries increases the range and reduces the size and weight of the vehicle.
Fastest-growing Segment by Propulsion Type
9.53 %
Projected CAGR, Throttle Assisted, 2024-2029
The throttle-assisted bikes segment is the fastest-growing segment by propulsion type due to reasons such as the ability to move quickly in different terrains and at higher speeds.
Leading Market Player
11.26 %
market share, Kalkhoff Werke GmbH, 2022
Kalkhoff has grown into a leading retailer of comfort and electric bikes. The company is always on the lookout for innovative ideas and modern technologies in order to build quality bikes.
Propulsion Segment Market Overview
- The rising popularity of e-bikes decreased the sales of other bikes. Like people in other European countries, Norwegians repair their bikes more often instead of buying new ones. As a result, parts suppliers are doing well. However, the sale of bike accessories and bike wear remains low despite the positive demand witnessed during the COVID-19 pandemic. In addition, rider-specific regulations pertaining to e-bikes that make helmets mandatory are expected to benefit e-bike manufacturers and associated accessory manufacturers and, thus, boost the market.
- Government regulations are still in an evolving phase. On the one hand, Norwegian law prohibits using electric bicycles in protected areas such as Dovrefjell, Jotunheimen, and Rondane to ensure the safety of wild reindeer. Still, according to other laws, electric bicycles are considered motorized vehicles. The Environment Agency recently established that electric bicycles with a motor that is turned off should also be defined as motorized vehicles.
- The city of Oslo also announced that it would pay up to 25% of the bike’s cost, capping the grant at NOK 10,000. The country also invested a phenomenal USD 1 billion in new bike infrastructure to push a general modal shift away from cars. Due to the abovementioned factors, the e-bike market is anticipated to witness significant growth over the forecast period (2023-2029).
Understand The Key Trends Shaping This Market
