e-Bike Market Trends: Up or Down?

What is the Current E-bike Market?

The current e-bike market is showing significant growth and development. Here’s a summary of the information available:

• According to Precedence Research, the global e-bike market size reached USD 18.86 billion in 2022.
• The global e-bikes market was valued at USD 17.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030.
• The e-MTB (Electric Mountain Bike) market has witnessed a rapid increase in demand compared to other types, such as city/urban and cargo e-Bikes.
• The global electric bike market size was valued at $37.47 billion in 2022.
• The North America E-bike Market is expected to reach USD 1.76 billion in 2023.

Insights and Questions

1. Market Growth: The e-bike market is experiencing substantial growth, with different sources providing various figures. What factors are contributing to this rapid expansion, and how sustainable is this growth?
2. Product Types: The e-MTB market is leading in demand. What are the reasons behind this specific growth, and how are other types of e-bikes performing in comparison?
3. Regional Differences: The information provided highlights global and North American statistics. How does the e-bike market vary across different regions, and what are the key drivers in each area?

Ebikes, commonly referred to as e-bikes, are bicycles equipped with an integrated electric motor that can be used for propulsion. Designed to augment human power, they can dramatically increase the bike’s speed and range, providing a new dimension to the traditional cycling experience.

How big is the e-bike market?

As per the report by Precedence Research, the global e-bike market size was valued at $23.19 billion in 2020 and is projected to reach $46.04 billion by 2027, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period. E-bikes are gaining popularity as a convenient and eco-friendly mode of transportation, especially for commuting and running errands.

The emergence of e-bikes is driven by increasing consumer demand for recreational activities and the adoption of e-bike services in logistics and rental industries. E-bikes offer a cost-effective and sustainable solution for urban transportation, especially in areas recovering from lockdowns.

The Asia-Pacific region, particularly China, is the largest market for e-bikes, followed by Europe, where countries like Germany, France, and Italy lead in sales.

The e-bike market can be segmented into three categories: pedelecs (pedal-assist bikes), throttle-on-demand e-bikes, and scooters. Pedelecs dominate e-bike sales, as they provide an extra boost of power while allowing riders to choose the level of support they receive. Throttle-on-demand e-bikes allow users to use the electric motor without pedaling, similar to mopeds or motorcycles.

E-commerce is playing a significant role in the e-bike sector, with a growing number of consumers purchasing e-bikes online. Online sales are not hindered by the assembly process, as many online sellers ship fully or partially assembled bikes or offer assembly services at local bike shops. The cost of e-bikes is decreasing due to advancements in lithium-ion battery technology, making them more affordable for consumers. If you would like to know about ebike accessories. We have a link to our article Ebike Accessories

E-bikes offer several benefits, including reducing car trips, making commutes easier, and being more environmentally friendly compared to cars. They also have the potential to lower carbon emissions, especially if powered by renewable energy sources. E-bikes are generally considered as safe as traditional bikes, although e-bike users may experience more severe injuries in accidents due to their higher average speed.

Overall, the global e-bike market size is experiencing significant growth due to the increasing demand for sustainable transportation options and the convenience offered by e-bikes.

e-Bike Market Frequently Asked Questions

Trends and Growth

What eBike type is growing fastest?

E-mountain biking is a popular recreational activity and is witnessing a surge in participation due to the introduction of e-MTBs. They are seen as a new way to explore off-road trails and remote terrains, attracting a broad range of adventure enthusiasts.

What Size is the Ebike Market?

As per the report by Precedence Research, the global e-bike market size was valued at $23.19 billion in 2020 and is projected to reach $46.04 billion by 2027, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period.

Is There Growing Popularity and Potential for Ebikes?

E-bikes are rapidly gaining traction worldwide due to the diverse benefits they offer. From enhancing fitness and improving commute efficiency to reducing carbon emissions, e-bikes are increasingly seen as a viable alternative to traditional modes of transportation.

Segment Review

What Are Ebike Classes?

There are 3 classes of ebikes based on speed and peddling.

1. Class 1 e-bikes: These are pedal-assist bikes with no throttle and a maximum assisted speed of 20 mph.
2. Class 2 e-bikes: These bikes have a throttle and offer pedal assistance up to 20 mph.
3. Class 3 e-bikes: Class 3 e-bikes are pedal-assist only, with no throttle, and have a maximum assisted speed of 28 mph.

What Are the Types of Motors?

There are two main types of motors used for eBikes.

1. Hub Motors: Mounted in the wheel of the bike, hub motors are cost-effective and easy to install but can impact bike handling due to added weight.
2. Mid-drive Motors: Positioned in the middle of the bike, mid-drive motors offer better weight distribution and a more natural ride feel, but they are generally more expensive.

What is the difference between Trekking eBikes and Cargo eBikes?

Ebikes are designed specifically for the purpose and intended use.

1. Trekking E-bikes: Designed for long journeys, trekking e-bikes are versatile, comfortable, and robust, suitable for both city riding and off-road adventures.
2. Cargo E-bikes: Cargo e-bikes, designed to carry loads, are popular for urban deliveries and family transportation.

Geographically, Where are the fastest growing markets?

The Middle East and Africa region is the fastest-growing e-bike market, driven by increasing urbanization, growing environmental consciousness, and investments in cycling infrastructure.

What was COVID-19’s Impact on the E-bike Market?

The COVID-19 pandemic has had a significant impact on the e-bike market. With public transportation perceived as a risk for virus transmission, many individuals turned to e-bikes as a safer commuting option. This increased demand has driven further growth in the e-bike market.

This article has explored the definition, market size, and growth factors of the e-bike market. It reviewed various market segments, geographic distribution, and the impact of COVID-19 on the market.