PUBLISHER: The Business Research Company | PRODUCT CODE: 1712781
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712781
Electronic bikes are battery-powered bicycles resembling traditional gas-powered bikes but relying on electric power. They feature an integrated electric motor and a battery to produce power for propulsion.
Electric bikes are broadly classified into class-I, class-II, and class-III. Class-I electric bikes feature an electric motor that operates solely when pedaling. These bikes utilize different motor types, including mid-motor and hub motor, coupled with a range of battery options such as lead-acid, lithium-ion (Li-ion), nickel-metal hydride (NiMH), among others. They find applications in various settings such as mountain or trekking, city or urban commuting, cargo transport, and more.
The electric bikes market research report is one of a series of new reports from The Business Research Company that provides electric bikes market statistics, including electric bikes industry global market size, regional shares, competitors with a electric bikes market share, detailed electric bikes market segments, market trends and opportunities, and any further data you may need to thrive in the electric bikes industry. This electric bikes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric bikes market size has grown rapidly in recent years. It will grow from $56.79 billion in 2024 to $65.11 billion in 2025 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to environmental awareness, government incentives and policies, urbanization and traffic congestion, consumer interest in health and fitness, cost savings on transportation.
The electric bikes market size is expected to see rapid growth in the next few years. It will grow to $109.07 billion in 2029 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to cultural shift towards electric mobility, rise of sharing and rental services, product innovation and design diversity, global sustainability focus, rising fuel costs and economic benefits. Major trends in the forecast period include e-bike subscription and ownership models, market entry of new players, environmental sustainability messaging, focus on lightweight designs, customization and personalization.
The introduction of government regulations aimed at promoting the use of electric bikes is anticipated to drive the growth of the electric bikes market in the coming years. Electric bikes offer a longer range and greater ease of use, enabling users to travel without exertion, carry larger loads, run more errands, and embark on longer journeys. For example, in October 2024, Eurostat, a Luxembourg-based government agency, reported an increase in the government deficit as a percentage of GDP in the euro area, rising from 3.5% in 2022 to 3.6% in 2023, and in the EU, it increased from 3.2% to 3.5% during the same timeframe. Consequently, the push for government regulations to encourage electric bikes is contributing to the growth of the electric bikes market.
The anticipated growth of the electric bike market in the future is expected to be driven by an increase in fuel costs resulting from a supply shortage. Fuel costs encompass the total expenditure associated with acquiring and using fuel sources to power various machines, vehicles, and equipment. Such as fuel prices, electricity prices tend to be more stable, offering a sense of predictability and assurance for e-bike users. For example, in August 2022, the US Department of Transportation reported unprecedented increases in motor fuel prices, with regular motor gasoline experiencing a 49% surge and diesel fuel seeing a slightly higher spike at 55% between January and June. This surge marked a significant shift from the decline observed in early 2020, a period characterized by economic recession and widespread stay-at-home orders in response to the COVID-19 pandemic. The resultant rise in fuel costs is poised to contribute to the growth of the electric bike market.
An anticipated increase in fuel costs resulting from a supply shortage is expected to drive the growth of the electric bike market in the future. Fuel costs encompass the total expenses associated with purchasing and using fuel sources to operate various machines, vehicles, and equipment. Typically, electricity prices exhibit greater stability compared to fuel prices, which can experience significant fluctuations due to a variety of factors. This stability offers predictability and reassurance to e-bike users. For instance, in April 2024, the Bureau of Transportation Statistics (BTS), a US-based government agency, reported a year-over-year increase of 3.2% in domestic fuel consumption for February 2024, alongside fluctuations in fuel costs.
In the electric bike market, major companies are at the forefront of innovation, developing products such as commuter e-bikes to deliver reliable services to customers. A commuter e-bike, also referred to as an electric commuter bike, is a specialized electric bike designed specifically for efficient and practical urban transportation. For instance, in September 2022, Pedego unveiled its latest electric bike model, the Pedego Avenue. The Pedego Avenue is a commuter e-bike available in two frame styles and sizes, featuring a 28" 6061-T6 aluminum alloy frame with an integrated downtube battery and semi-internal cable routing. It comes equipped with PedalSense offering 5 levels of pedal assist, an LCD display, adjustable handlebars, sturdy double-wall wheels with heavy-duty spokes, and a twist-and-go throttle for full power on demand. This commitment to innovation showcases major companies' dedication to providing advanced and efficient solutions to meet the diverse needs of customers in the electric bike market.
In January 2022, TVS Motor Company, a prominent Indian motorcycle manufacturer, completed the acquisition of Swiss E-mobility Group (SEMG). This strategic move by TVS Motors reflects its commitment to developing eco-friendly transport solutions, aligning with the company's vision of progressing towards a more sustainable future. Notably, SEMG holds the distinction of being the largest e-bike manufacturer in Switzerland.
Major companies operating in the electric bikes market include Panasonic Corporation, Yamaha Motor Company, Pon Holdings BV, Giant Manufacturing Co. Ltd., Pon Bicycle Holding B.V., Yadea Group Holdings Ltd., Accell Group NV, Trek Bicycle Corporation, Merida Industry Co. Ltd., Tianjin Golden Wheel Bicycle Group Co. Ltd., FRITZMEIER Systems GmbH & Co. KG, Specialized Bicycle Components Inc., Cube Bikes GmbH, Derby Cycle AG, Derby Cycle Holding GmbH, Brompton Bicycle Ltd., Beistegui Hermanos S.A., VanMoof, Koninklijke Gazelle N.V., Pedego Electric Bikes, Cannondale Bicycle Corporation, Electra Bicycle Company, BionX International Corporation, Focus Bikes GmbH, Gocycle Limited, Klever Mobility Europe GmbH, Tianjin Fuji-ta Group, Bulls Bikes GmbH, KTM Fahrrad GmbH, Cycles Lapierre S.A.S., M1-Sporttechnik GmbH & Co. KG, Orbea S. Coop. Ltda., Pivot Cycles LLC
Asia-Pacific was the largest region in the electric bikes market in 2024. Europe is expected to be the fastest growing region in the forecast period. The regions covered in the electric bikes global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric bikes global market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electronic bikes market consists of sales of e-moped, e-cycles and e-scooters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Bikes Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric bikes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric bikes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric bikes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.