In 2017, the size of the global market for electric bikes was ascertained at $16.34. By 2025, the market is expected to expand to $23.83, recording a growth rate (CAGR) from 2018 to 2025 of 4.9%.
Electric bikes are simple scooters or bicycles with an electric motor integrated into it for momentum. They can be completely powered by the motor or assisted partly by pedaling.
Ebikes for sale are available in various configurations like pedal assist, on-demand throttle, and scooter. They are used for both recreation and commutation.
With support from the government and firm rules favoring electric bikes, the global industry has been observing bright opportunities. Further, the rising fuel costs and the perception of e-bikes as an efficient and eco-friendly commute option have driven
the expansion of the global e-bikes market. Moreover, the inclination towards cycling for recreational and fitness has propelled a massive shift in consumers who are fitness conscious as e-bike riding helps in traveling longer distances by pedaling the same
electric bike adoption has escalated for recreation, daily activities and fitness in the region, the North American market is forecasted to experience the fastest growth.
Various factors like a ban on e-bike use in several cities in China and the high cost of the electric bikes are expected to hinder the market growth during this period. However, R&D activities aimed at improving bike performance and bicycling infrastructure
have witnessed increased investment, expected to offer enticing future opportunities.
Based on product types, the global e-bikes market is segmented into throttle on demand, pedelecs, and motorcycle & scooter. With high global adoption for commute, the pedelecs segment dominates the market.
Based on the drive mechanism, the e-bikes market is segmented into mid-drive, hub motor and others. The most popular drive mechanism is the hub motor, where one of the wheels is replaced by one that has a hub motor connected to the motor controller or battery
by a wire.
Based on battery types, the e-bikes market globally is segmented into Lithium-ion, Nickel-metal Hydride, Lead-acid, and others. Easy recyclability and low cost of Lead-acid batteries have made this segment the market dominant. However, the high-capacity
and light weight of Lithium-ion batteries have stirred a growth in its popularity.
Based on the region, the global bikes markets under analysis are Asia-Pacific, Europe, North America, and LAMEA. In spite of being global market dominants, the Asia-Pacific region is expected to experience a low rate of growth in the forecast period owing
to the e-bike usage ban in some major Chinese cities. While the North American market is expected to showcase the highest CAGR during the entire forecast period, the European region is also forecasted to experience significant demand. A notable growth is also
expected in the LAMEA region, driven by the rising eco-friendly products awareness.
The focus of the key players in the market has been on crucial strategies like collaborations, partnerships, mergers, and acquisitions. Strengthening the market reach to uphold their goodwill in this competitive market has also been a key focus. Some of
the big names in the global e-bikes market include Derby Cycle, Accell Group,
Giant Manufacturing Co., Fuji-ta Bicycle Co. and many more.