E-bikes Market to be Worth $88.3 Billion by 2030—Exclusive Report by Meticulous Research®”
“E-bikes Market to be Worth $88.3 Billion by 2030—Exclusive Report by Meticulous Research®”
According to a new market research report titled, ‘E-bikes Market by Propulsion Type (Throttle-assisted and Dual Mode), Class, Power Output, E-bike Type, Battery Type, Motor Type (Hub Motors and Mid-drive Motors), Structure, Charging Type, Charging Mode, and End User—Global Forecast to 2030, the ‘e-bikes market is projected to reach $88.3 billion by 2030, at a CAGR of 11.9% during the forecast period.
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E-bikes are bicycles with a battery-powered assist that comes via pedaling and, in some cases, a throttle. In e-bikes, the motor will get its power from a rechargeable battery mounted on the bike. E-bikes are a flexible, eco-friendly, and versatile mode of transport. Users consider them an ideal substitute for smart cars, public transport, and scooters. It helps minimize traffic congestion due to its reduced form factor, provides greater speed with marginal effort, and offers various health benefits.
The growth of this market is driven by the increasing adoption of e-bikes for shorter commutes, rising environmental concerns, and supportive government policies and regulations. Furthermore, the rising health awareness among consumers and increasing adoption of e-bikes in emerging countries are expected to create market growth opportunities.
However, the high cost of e-bikes and the short lifecycle of batteries restrain the growth of this market. Also, increasing theft and vandalism of e-bikes and poor cycling infrastructure in developing countries pose major challenges for the players in this market. Furthermore, increasing efforts by OEMs to produce lightweight bikes and the increasing trend of connected e-bikes are the key trends observed in the e-bikes market.
The e-bikes market is segmented by propulsion mode {throttle-assisted and dual mode}, class {class 1, class 2, and class 3}, power output {below 250 W, 250 W–750 W, and more than 750 W}, E-bike type {city e-bikes, adventure e-bikes, sports e-bikes, delivery/cargo e-bikes, and other e-bike types}, battery type {lithium-ion batteries, sealed lead acid batteries, lithium-ion polymer batteries, and other battery types}, motor type {hub motors [geared hub motor and gearless hub motor] and mid-drive motors}, structure {foldable e-bikes and non-foldable e-bikes}, charging type {connector charging and wireless charging}, charging mode {plug-in charging, swappable battery, and solar-powered}, end user {government agencies, academic institutes/universities, business organizations, micromobility service providers, commercial & delivery services, individuals, and other end users}, and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
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Based on propulsion type, the e-bikes market is segmented into throttle-assisted e-bikes and dual-mode e-bikes. In 2023, the throttle-assisted segment is expected to account for a larger share of the global e-bikes market. The large market share of this segment is mainly attributed to the rising demand for throttle-assisted mountain off-road e-bikes for fast climbing, reliability, and making commuting easy.
Based on class, the e-bikes market is segmented into class 1, class 2, and class 3. In 2023, the class 1 segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed due to its flexibility, efficiency, and longer running range than other types of e-bikes.
Based on power output, the e-bikes market is segmented into below 250 W, 250 W–750 W, and more than 750 W. In 2023, the below 250 W segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed to the increasing adoption of e-bikes for urban commuting and recreational activities, rising initiatives by government authorities for increasing adoption, and increasing investments by ride-hailing companies for deploying e-bikes for micromobility.
Based on e-bike type, the e-bikes market is segmented into city e-bikes, adventure e-bikes, sports e-bikes, delivery/cargo e-bikes, and other e-bike types. In 2023, the city e-bikes segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed to due to the rising government initiatives toward the EV ecosystem, lower costs, quicker urban commutes, and free parking.
Based on battery type, the e-bikes market is segmented into lithium-ion batteries, sealed lead acid batteries, lithium-ion polymer batteries, and other battery types. In 2023, the lithium-ion batteries segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed to increasing demand for electric vehicles, improvement in battery technology, government policies & regulations, and rising electric micromobility.
Based on motor type, the e-bikes market is segmented into hub motors and mid-drive motors. The hub motors segment is further segmented into geared hub motors and gearless hub motors. In 2023, the hub motors segment is expected to account for the larger share of the global e-bikes market. The large market share of this segment is mainly attributed to the increased performance efficiency of e-bikes, increasing range, and increasing sales of e-bikes globally.
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Based on structure, the e-bikes market is segmented into foldable e-bikes and non-foldable e-bikes. In 2023, the non-foldable E-bikes segment is expected to account for a larger share of the global E-bikes market. The large market share of this segment is mainly attributed to the rising adoption of e-bikes for short commutes, affordable, and deploying e-bikes for micromobility.
Based on charging type, the e-bikes market is segmented into connector charging and wireless charging. In 2023, the connector charging segment is expected to account for a larger share of the global e-bikes market. The large market share of this segment is mainly attributed due to rising e-bike sales worldwide, government policies and subsidies, environmental pollution treated as an alarming issue, and the lowest charging price of e-bikes.
Based on charging mode, the e-bikes market is segmented into plug-in charging, swappable battery, and solar-powered. In 2023, the plug-in charging segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed to government initiatives to expand the EV charging station infrastructure and increasing investment by stakeholders of electric mobility in emerging economies for developing EV charging infrastructure.
Based on end user, the e-bikes market is segmented into government agencies, academic institutes/universities, business organizations, micromobility service providers, commercial & delivery services, individuals, and other end users. In 2023, the business organizations segment is expected to account for the largest share of the global e-bikes market. The large market share of this segment is mainly attributed to the increasing consumer demand for fuel-efficient and zero tailpipe emission vehicles, government incentives to promote sales and manufacturing of e-bikes, tax rebates, the decline in battery costs, and increasing fuel prices.
Based on geography, the e-bikes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the E-bikes market, followed by North America, Europe, Latin America, and the Middle East & Africa. The rapid growth of this market is attributed to the increasing demands for a growing number of start-ups offering numerous solutions and services in the electric mobility industry, attractive incentive programs for E-bikes buyers, and the presence of regional core competencies of countries such as China, Japan, South Korea, and India in manufacturing and technological developments.
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Key Players:
The key players operating in the e-bikes market are Robert Bosch GmbH (Germany), Yamaha Motor Co., Ltd. (Japan), Aima Technology Group Co. Ltd. (China), Giant Manufacturing Co., Ltd. (Taiwan), Merida Industry Co., Ltd. (Taiwan), PEDEGO INC (U.S.), Rad Power Bikes Inc. (U.S.), Yadea Group Holdings Ltd. (China), Aventon (U.S.), Fuji-ta Bicycle Co.,Ltd. (China), Trek Bicycle Corporation (U.S.), Riese & Müller GmbH (Germany), Leon Cycle Ltd. (U.K.), myStromer AG (Switzerland), Magnum Electric Bikes (U.S.), Brompton Bicycle Ltd (U.K.), MAHLE GmbH (Germany), Hero Cycles Ltd. (India), Electric Bike Store Ltd (U.K.), and Juiced Riders, Inc. (U.S.).
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