Market Size of united states e-bike Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 3.41 Billion |
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Market Size (2029) | USD 7.49 Billion |
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Largest Share by Propulsion Type | Pedal Assisted |
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CAGR (2024 - 2029) | 17.03 % |
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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 |
United States E-bike Market Analysis
The United States E-bike Market size is estimated at 3.41 billion USD in 2024, and is expected to reach 7.49 billion USD by 2029, growing at a CAGR of 17.03% during the forecast period (2024-2029).
3.41 Billion
Market Size in 2024 (USD)
7.49 Billion
Market Size in 2029 (USD)
26.47 %
CAGR (2017-2023)
17.03 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.56 %
value share, Pedal Assisted, 2023
The advantages of pedal-assisted e-bikes, such as affordability, better battery life, lower servicing needs, and the ability of users to choose from the three to five modes of pedal assist, are anticipated to lead the growth of this category.
Largest Segment by Application Type
81.98 %
value share, City/Urban, 2023
With the increasing number of consumers, especially the working population and youth, and the rising awareness about the benefits of e-bikes, like faster commuting in traffic-congested areas and easier parking, the demand for e-bikes has risen in recent years.
Largest Segment by Battery Type
91.25 %
value share, Lithium-ion Battery, 2023
The Li-ion battery segment held the major share in the market owing to lesser weight and higher energy density features, which provide riders with more range per charge than other types of batteries.
Fastest-growing Segment by Propulsion Type
19.90 %
Projected CAGR, Speed Pedelec, 2024-2029
Government support in the form of incentives and subsidies, coupled with the falling Li-ion battery prices, is boosting the growth of the segment. The COVID-19 pandemic led to the demand for personal mobility, which is also supporting the growth of this category.
Leading Market Player
7.59 %
market share, Trek Bicycle Corporation, 2022
Trek is the market leader in the US e-bike market. Headquartered in Waterloo, Trek has over 150 stores in the United States and offers a variety of bikes under the brand names Trek, Electra, and Bontrager.
PROPULSION SEGMENT MARKET OVERVIEW
- The electric vehicle industry is steadily changing the automotive industry's landscape with the introduction of more effective and potent electric automobiles every year. Pedal-assisted and speed pedelec e-bikes are used in a wide range of industries and applications across the United States. They are seen as a cleaner and greener mode of transportation for short distances. Several e-bike producers raised funds for company expansions due to a spike in e-bike imports and sales across the country. According to the Light Electric Vehicle Association, in 2021, 7,900,00 e-bikes were imported into the country, 1.8 times more than in 2020.
- Due to the COVID-19 pandemic, pedal assisted e-bikes have gained popularity across the country. Consumers have become more interested in their health and well-being. By 2021, 60% of trips in the United States were estimated to be less than 5 miles, which can be easily covered by an e-bike. The COVID-19 pandemic had a mixed impact on the market, with initial lockdowns and shutdowns of manufacturing units resulting in a slump in demand. However, as restrictions eased, demand for e-bikes gained significant momentum, with various dealers in the United States reporting more than a 100% increase in Y-o-Y sales.
- Increasing government investments in bike-sharing programs, bike lanes, and more pedestrian-friendly streets are likely to raise consumer interest in speed pedelec and throttle assisted e-bikes in the future. During the forecast period, investments in city road infrastructure for e-bikes are also expected to boost the e-bike market. The current investments, funding, and initiatives are helping boost the sales of e-bikes across the country.
Understand The Key Trends Shaping This Market
