According to Vision Research Reports, the e-bike market size is expected to expand at USD 120 billion by 2030 and is growing at a CAGR of 11.6% over the forecast period 2022 to 2030.

Due to the COVID-19 outbreak and the subsequent lockdowns (with all the restrictions followed), the production of e-bikes witnessed a decline. However, as life is slowly returning to normalcy, the market is picking up pace. Due to the pandemic and the risk of contamination through public transport, people are showing an increased interest in buying their means of commute.

Apart from increasing consumer preference toward recreational and adventure activities, the adoption of e-bike applications in several sectors, like logistics and e-bike rental services, is expected to drive the market during the forecast period. As cities worldwide emerge from lockdowns, the demand for e-bikes is picking up pace due to their convenience and cost of operations.

With growing concerns about vehicle emission and traffic congestion, across the world, few automakers, like General Motors, Audi, and BMW, have been planning to enter the growing e-bike market, in order to diversify their portfolios.

The e-bike market size was worth about US$ 41 billion in 2020 and is expected to reach around USD 120 billion by 2030, expanding growth with a compound annual growth rate of 11.6% from 2021 to 2030.

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The demand for crank/mid-drive motors is expected to continue to rise, during the forecast period, as few e-bike motor manufacturers have started primarily focusing on developing and improving their mid-drive motor products.

As cities around the world emerge from lockdowns, the demand for e-bikes is picking up the pace of their convenience and cost of operations. Regions such as Europe are witnessing a shift in consumer motive for buying an e-bike from leisure to daily use.

Across developed regions like North America and Europe where bicycles have dedicated lanes in cities and suburbs several drug stores and other emergency-related services are employing e-bikes on these lanes to deliver essential services and items over short distances. In this way, they are able to avoid traffic situations in some densely populated areas and are able to attend to the needy in a quicker manner.

Key Insights:

In 2021, the Asia Pacific e-bike market was reached at USD 24.78 billion.

In 2021, the hub motor segment has accounted 70% market share in 2021.

Li-Ion battery type segment hit 30.83% market share in 2021.

Lead Acid battery type segment accounted 46.41% revenue share in 2021.

The Li-Ion battery type segment is growing at a CAGR of 3.2% from 2022 to 2030.

Lead acid battery type segment is growing at a CAGR of 9.52% from 2022 to 2030.

The throttle segment is projected to reach at a CAGR of 14.3% from 2022 to 2030.

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Increasing Demand for Eco-friendly Transportation to Propel Market Growth

While electric bikes and scooters though said to be more expensive to purchase as compared to regular two-wheelers, the amount of money saved with respect to rising fuel costs is encouraging several players across logistics, food, delivery, tourism, etc. sector. Accordingly, the companies are investing in procuring these electric two wheelers and are entering strategic agreements with these vehicle manufacturing companies to gain a notable edge over other competitors in the market. For instance,

Some tourism companies are exclusively offering packages termed as ‘Cycling Holidays'. As Europe is home to numerous travel destinations, every year, millions of visitor's flock to the country during holiday seasons. Even tourists are wooed by this new and different experience and are opting for e-bikes to tour prominent sites as well as the country-side in some cases.

Also, across developing regions like North America and Europe where bicycles have dedicated lanes in cities and suburbs several drug stores and other emergency related services are employing e-bikes on these lanes to deliver essential services and items over short distances. In this way, they are able to avoid traffic situations in some densely populated areas and are able to attend the needy in a quicker manner. Additionally, several logistics and delivery companies are deploying e-bikes as a part of their delivery vehicles. For instance,

In July 2021, Hero Lectro, the EV arm of the Hero Motors Company (HMC), announced new partnerships with logistics service providers Fast Despatch Logistics and Turtle Mobility as part of a new ecosystem to enable greater use of e-mobility in last mile delivery. Under the partnership, Hero Lectro's E Cargo bikes will be rolled out into the last mile delivery space by Fast Despatch Logistics. While Fast Despatch Logistics (FDL) is a global last mile delivery logistics company which has recently marked its entry in India, Turtle Mobility is a startup that offers solutions for last mile delivery logistics needs including vehicles on lease.

Key Challenges

Product recalls due to possible failures are expected to be a major hindrance to the e-bike market during the forecast period.Vehicle recalls can be caused by product flaws or the probable breakdown of systems. Earlier, producers were responsible for the whole expense of product recalls. However, as vendor relationships and partnerships with suppliers have improved along the value chain, manufacturers and suppliers have been urged to share the cost of product recalls. The cost-sharing has benefited the vehicle manufacturers, tier-1 suppliers, and other stakeholders in the value chain. It does, however, have a negative influence on their profit margins. Therefore, product recalls are a challenge for all stakeholders involved. For instance, in December 2019, Trek Bicycle Corp., which is the parent company of Electra Bicycle Co., recalled 2,840 e-bikes after receiving two reports of the use of wrong bolts to secure the front fender to the fork crown.

Key Drivers

The decrease in the cost of Li-ion batteries is driving the e-bike market. The increase in the usage of EVs in the global automotive sector has provided Li-ion battery manufacturers with economies of scale, decreasing the cost of Li-ion batteries and making them viable for use in e-bikes. As a result, the adoption of Li-ion batteries has increased in e-bikes, particularly by bike-sharing firms. For instance, Yulu Bikes Pvt. Ltd. (Yulu Bikes), an Indian bike-sharing firm, employs domestically manufactured Li-ion batteries in its e-bikes.

E-Bikes Experienced Growth due to Rising Adoption as Transportation Crumbled During Pandemic

The ongoing pandemic caused a positive impact on the market as all forms of public transportation were shut to curb the spread of the virus. A good portion of the population began integrating electric bikes as their primary mode of transportation during the initial stages of the pandemic, which contributed significantly to the market growth. The e-bike market was experiencing a stable growth pre-pandemic; however, the growth was exponential as the pandemic hit.

Rising Policy Support & Increasing Adoption of E-Bikes Regarding Municipal Bike-Sharing Systems to Augment Growth

Factors such as the rising development of cycling infrastructure in emerging economies coupled with rising support for e-bikes in the form of incentives will boost the electric bike market growth during the forecast period. Additionally, increasing adoption of e-bikes regarding municipal bike-sharing systems coupled with rising awareness about health benefits will increase the footprint of the market. The rising adoption of shared micro-mobility activities will further fuel the growth of the market toward a higher boundary.

Adoption of E-Bike to Reduce Traffic Congestion is expected to boost the e-bike market

The most alarming issue commuter's face these days is "Traffic," which consumes time along with the huge amount of money on fuel. As per the data given in the Inrix Global Traffic Scorecard in 2018, 60 urban areas in the US are considered among the most traffic-congested cities, wherein the repercussions of traffic congestion cost billions of dollars each year to the Americans. With the increasing investment of government and manufacturers toward the adoption of e-bikes, traffic congestion can be minimized, this increased demand is expected to fuel the growth of the global e-bike market.

Underdeveloped Charging and Cycling Infrastructure in Developing Countries may restrain the future growth of the e-bike market

In developing economies, the installation of EV charging stations and road/pathway infrastructure is yet to flourish. As per Honda (a Japan-based automotive manufacturer), the establishment of supporting infrastructure for e-bikes, which includes battery swapping and charging stations and the subsequent adoption of the advanced technology, across India will take time. Consequently, the underdeveloped charging and cycling infrastructure across various developing countries is hampering the adoption rate of e-bikes may hinder the growth of the e-bike market.

Asia Pacific to Witness Dominance During Forecast due to Increasing Bicycle Infrastructure

Asia Pacific will hold the largest electric bike market share during the forecast period due to rising infrastructure for electric bikes in emerging economies such as China and Japan coupled with increasing higher vehicular and public transport congestion. Additionally, the rising stringency of emission regulations for gas-powered engines will further fuel the growth of the market.

Europe is Expected to Play a Prominent Role in the Market During the Forecast Period

The European e-bike market is dominated by Germany, France, and Italy. Some of the major factors driving the sales of e-bikes are the innovative nature of the product, fully-integrated batteries and drives, appealing designs, and the use of high-quality materials.

Germany led the European market, accounting for approximately 40% of the market in 2021. It was followed by the Netherlands and France, each of which captured more than 11% of the overall market share. The European Commission's anti-dumping and anti-subsidy sanctions against Chinese e-bikes have contributed significantly to the market's growth since 2018.

Germany's e-bike and bicycle industries have already experienced rapid development in recent years, while in 2020 recorded the highest volume expansion and revenue growth. According to the German industry group Zweirad-Industrie-Verband (ZIV2020 )'s market data, e-bike sales in 2020 increased by 43% to 2 million units. However, the market declined slightly in 2021, owing to many factors. The backdrop to this is COVID-19, with numerous factories shutting and output delays continuing from 2020. The industry recorded sales of around 2 million e-bikes in total in 2021. This would imply a drop of roughly 2.6%.

France has also been facing unprecedented growth in demand for e-bikes, and both manufacturers and retailers have been struggling to keep up with the rapidly depleting inventory. Paris added 50 kilometers of bicycle lanes to cater to the increasing cycle traffic, and e-mobility startups, such as Bolt, have been further propelling the market's growth. The e-bike sales outnumbered the regular bicycle sales as more people moved from leisure buying to long-distance everyday use of e-bikes.

Recent Developments

- In March 2022, Yamaha announced introducing of two all-new, class 3, power assist bicycles: the Wabash RT and the CrossCore RC, e-Bikes with the all-new Yamaha PWSeries ST drive unit, frame and internally integrated batteries.

- In January 2022, Momentum, Giant Group's "lifestyle-inspired" cycling brand has launched two new electric bicycles the Voya E+1 and Voya E+3. The Voya E+1 takes the form of a drop bar urban bike with an 11-speed Shimano GRX derailleur, while the Voya E+3 has typical flat bars and a 9-speed microSHIFT ADVENT derailleur. The 250 Wh battery claims to provide a range of between 40-72 km (25-45 miles) on a single charge. A provided 4A fast charger can give the battery an 80% charge in less than two hours.

- In September 2021, Merida launched the 2021 EX Enduro, which was temporarily discontinued in 2020. This new e-bike is powered by Shimano STEPS.

- In August 2021, Riese & Müller Business, the premium e-bikes and cargo bikes manufacturer, expanded its portfolio of sustainable mobility concepts in the business customer segment. It offers four specific models for commercial fleets, targeting municipalities and businesses of all sizes, such as retail, catering, trade, healthcare, or mobility businesses.

- In March 2021, Cannondale launched the Adventure Neo range of commuter e-bikes. Cannondale launched a lineup of step-through, Bosch-powered e-bikes for city riding. The Adventure Neo line features four different models, all of which feature an alloy frame, a step-through design, and a Bosch drive system with a battery ranging from 400 Wh to 625Wh.

Frequently Asked Questions

- What is the current size of e-bike market?

- How much is the CAGR of global e-bike market?

- Which are the driving factors of the e-bike market?

- Who are the major players operating in the e-bike market?

- Which region will lead the global e-bike market?

Key Players

• Accell Group


• Derby Cycle


• Fuji-ta Bicycle Co., Ltd.


• Giant Manufacturing Co., Ltd.


• Jiangsu Xinri E-Vehicle Co., Ltd.


• Mahindra & Mahindra Ltd. (GenZe)


• Prodecotech, LLC


• Tianjin Golden Wheel Group Co., Ltd.


• Trek Bicycle Corporation


• Yamaha Motor Co. Ltd.

Market Segmentation

By Class

• class-I


• class-II


• class-III

By Speed

• up to 25 km/h


• 25-45 km/h

By Battery Type

• lithium-ion


• lithium-ion polymer


• lead acid


• and others

By Motor Type

• Hub


• mid

By Mode

• pedal assist


• throttle

By Components

• Batteries


• electric motors


• frame with fork


• wheels


• crank gears


• brake systems


• and others

By Usage

• mountain/trekking


• city/urban


• cargo


• and others

By Region

• Asia Pacific


• Europe


• North America

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