Electric Bike Market by Product (Pedelecs, Speed Pedelecs, Throttle on Demand, and Scooter & Motorcycle), Drive Mechanism (Hub Motor, Mid-Drive, and Others), and Battery Type (Lead Acid, Lithium-Ion (Li-ion), and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030

Electric Bike Market Size 

Electric Bike Market by Product, Drive Mechanism, and Battery Type: Opportunity Analysis and Industry Forecast, 2020–2030,” the global E-bikes market was valued at USD 40.3 Billion in 2019, and is projected to reach USD 118.6 Billion by 2030, registering a CAGR of 10.5% from 2020 to 2030. The key factors driving its growth are various government support and initiatives to boost sales and the impact of covid 19 which has made the transition faster.

Trends Influencing the Global Electric Bike Market 

Government Support and Initiatives will drive the growth of Electric Bike Market

The electric bike market share is expected to grow further as private companies and local governments around the world launch several initiatives for faster adoption and smooth transition. As China emerged as the dominant player in 2019 the sale of electric bikes has gone up rapidly. For example, a ‘happy policy accident’ initiative of China to restrict motorcycles in its city centers has proved to be hugely successful. Several other initiatives are also being taken in other dominant markets such as the US, UK, Mexico, etc.

Covid-19 Impact On Electric Bike Market Growth

Covid 19 has given a huge boost to the electric bike market. As people have become more cautious and with public transport taking a backseat even after lifting of lockdowns electric bikes have turned out to be the preferred choice of transport because it's fast, easy to ride, cheap and safe.

Development of Lithium-ion Batteries in Electric Bike Industry

Lithium-ion batteries are usually used in electric cars but with rapid strides in efficiency, size, and cost reduction they are now being widely used in scooters, mopeds, and bikes as well. Cheaper options are now available and that is fuelling its growth.

Growing Environmental Concern and Urban Air Pollution in the EBike Market

Due to an increase in environmental consciousness and urban air pollution individuals are switching to electric bikes as they emit low carbon emissions and can be charged through solar power.

EBike Market Share 

Asia-Pacific dominates the market, in terms of revenue, followed by Europe, North America, and LAMEA. China dominated the global electric bike market share in 2019. However, Mexico is expected to grow at a significant rate during the forecast period, owing to series of initiatives taken by private companies, local governments, and federal officials to promote the adoption of electric vehicle

The electric bike has an integrated electric motor, pedals, and rechargeable batteries for forwarding propulsion. E-bikes allow commuters to travel greater distances and at higher speed than conventional bicycles. They are less expensive than electric scooters, motorcycles, and mopeds, and do not require insurance or a license. E-bike is an upcoming technology that has already gained traction in various countries, including the U.S., Netherland, China, India, and Japan. However, the e-bike industry overall is still in an early stage of development with significant room for growth across the world.

The most common types of e-bike includes commuter-type, e-mountain bike, e-cargo bike, and compact & foldable bike. Although pedelec e-bikes are most commonly used, e-mountain bikes and e-cargo bikes have witnessed increasing popularity.

Electric Bike Market Segmentation 

By Type

By Drive Mechanism

By Battery Type

By Region

Key Companies