E-Bike Market is expected to reach US$ 108,604.6 Million by 2030

Rising Adoption of Connected E-bikes Among the Business and Government Sectors Owing to Rising Urbanization is Expected to Create Ample Opportunities for E-Bike Market During 2022–2030

According to our latest market study on "E-Bike Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Component, System, and End User," the market is expected to grow from US$ 39,660.1 Million in 2022 to US$ 108,604.6 Million by 2030; it is estimated to register a CAGR of 13.4% from 2022 to 2030.

Globally, the connected E-bike is gaining popularity owing to a surge in urbanization and the rising problem of traffic congestion. According to the Global Traffic Scoreboards, Americans lost around 97 hours per year, which cost them nearly USD 92 billion in 2020. Also, rising urbanization and a surge in government spending on the cycling tracks and e-bike connection infrastructure are driving the opportunity for market growth. According to the U.N. Organizations, around 55.0% of the people live in urban areas, projected to reach 68% by 2050. But, to meet such growing urbanization, the transportation systems are not built to cope with the future demand of rising congestion and pollution. To tackle such problems, the key players are launching connected e-bikes with built-in scanners to pay and lock. This electric bike is available hourly with charges and distance traveled by the users. Several business entities and key players are adopting multiple strategies, such as partnerships, & collaborations, to provide these connected E-bikes for traveling short distances to avoid traffic congestion.

E-Bike Market — by Geography, 2022

Source: The Insight Partners Analysis

Rising investment towards the development of cycling tracks and surge in the expansion of production capacities initiatives by key players driving the market growth. The key players are investing considerably to meet the global e-bike demand. For instance, in January 2022, Cowboy, a German-based e-bike manufacturer, received an investment of USD 80 million to expand its manufacturing facilities. Further, in March 2023, the U.K. transport department announced a USD 2 billion plan to boost cycling and walking during and after the lockdown. The country’s government announced USD 200 million for new active travel schemes across England, including USD 35 million for the National Cycle Network and USD 8 million for the new e-cycle program.

Haibike, Aventon Bikes, Giant Manufacturing Co Ltd, Merida Industry Co., Ltd., Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components, Inc., Shimano Inc., Trek Bicycle Corp., and Yamaha Motor Co Ltd are among the key E-Bike market players that were profiled in the report. Several other major E-Bike market players were studied and analyzed during this market research study. The E-Bike market report provides detailed market insights, which help the key players strategize their growth.

In Asia Pacific, China is expected to dominate the e-bike market owing to several local and leading manufacturers such as Luyuan Electric Vehicle Co., Ltd., AIMA Technology Group Co. Ltd., Sunra Ev, Yadea Group Holdings Ltd., and others. These players contribute a major share of China’s e-bike market. China is the world's largest consumer and exporter of electric bicycles. In China, over 300 million electric bicycles are being used. In 2020, China produced around 41.3 million electric bicycles and exported more than 2.0 million worldwide. In China, more than 50 million people use e-bikes owing to their low cost, convenience, and relatively energy-efficient transportation. China is the dominant country that uses e-bikes as a travel mode.

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