Electric Bike Market Report and Forecast 2025-2034

The global electric bike market attained a value of around USD 63.54 billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 9.80% to reach USD 161.84 billion by 2034.

Europe to Dominate the Global Electric Bike Industry

Europe dominates the global electric bike industry owing to the increased focus on sustainability and favourable government initiatives to support cleaner energy sources in the region. The original nature of the product, fully-integrated batteries and drives, appealing designs, and the use of high-quality materials contributed to the demand for electric bike in Europe. In addition, e-bikes serve as a clean, quiet, and space-saving alternative for city logistics in these countries, thus, aiding the market growth. During the projected period, the Asia-Pacific is expected to be the fastest expanding market for e-bikes owing to rising e-bike sales in China, Japan, India, and Taiwan. In addition, widespread adoption of electric bikes to address challenges such as severe traffic and an increase in the number of automobiles is expected to significantly contribute to the electric bike industry growth in the Asia-Pacific.

Increasing Demand for Lithium-Ion Batteries to Augment the Global Electric Bike Industry

Due to the numerous advantages of lithium-ion batteries, the lithium-ion battery category is expected to account for a considerable portion of the electric bike industry. Lithium-ion batteries, for example, are environmentally friendly and have a longer life cycle. The increased use of lithium-ion batteries is due to increasing efforts of the manufacturers to build lightweight e-bikes. Furthermore, the market has changed towards lithium-ion batteries due to the favourable government laws, resulting in a massive rise in demand for the same.

Global Electric Bike Industry: Definition and Segmentation

A bicycle with an integrated electric motor drive mechanism and battery that produces power for assisting propulsion is known as an electric bike. Consumers regard them as a viable and eco-friendly alternative to scooters, smart cars, and public transportation. In addition, e-bikes are easy to use, suitable for people of all ages, and cost-effective.

By product type, the industry is segmented into:

• Pedelecs
• Speed Pedelecs
• Throttle on Demand
• Scooter and Motorcycle

The market can be broadly categorised on the basis of its drive mechanism into:

• Hub Motor
• Mid-Drive
• Others

By battery type, the industry is segmented into:

• Lead Acid
• Lithium-Ion
• Others

The report looks into the regional markets of the product like:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Increasing Inclination toward Use Of E-Bikes as an Eco-Friendly Mode of Transportation to Bolster the Growth of the Global Electric Bike Industry

The increasing carbon emissions due to the burning of fuel have been a major source of worry for governments and environmentalists in recent decades. As a result, the demand for environmental friendly vehicles increases around the world. Furthermore, governments are developing bicycle-friendly streets and implementing tax credits and incentives for consumers who purchase electric bikes, encouraging people to use e-bicycles. Furthermore, the popularity of electric bikes has grown across every continent due to the rise in fuel costs, increased pollution, and traffic congestion. In addition, the higher cost associated with operating and maintenance of fuel vehicles has led to a shift in daily commute preference for electric bikes, which is further propelling the industry. Over the forecast period, the improvements in bicycle infrastructure and battery technology are also projected to provide attractive chances to the electric bike business to flourish. The growing preference for e-bikes as a self-driving option by tourists to commute, as they are affordable and allow for smoother rides, is expected to aid the market growth.

Key Industry Players in the Global Electric Bike Market

The report presents a detailed analysis of the following key players in the global electric bike market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Accell Group
• Jiangsu Xinri E-Vehicle Co., Ltd
• Mahindra & Mahindra Ltd
• Fuji-ta Bicycle Co.,Ltd
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.