By 2030, Demand for E-Bike Market Will Surpass $112.73 Billion at 9.70% CAGR Growth | Vantage Market Research

WASHINGTON, Aug. 25, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research, The Global E-Bike Market is projected to reach a value of USD 112.73 Billion by 2030 and is expected to exhibit a CAGR of 9.70% from 2023 to 2030. The global Jojoba Oil Industry is valued at USD 53.75 Billion in 2022.

The growth of the E-bike market has been nothing short of remarkable. A convergence of factors, including heightened environmental awareness, traffic congestion, and advancements in battery technology, has propelled E-bikes into the spotlight. Urban dwellers, in search of efficient and eco-friendly modes of transportation, have found their match in these electric steeds. Market projections indicate a continued upward trajectory as governments and industries invest in infrastructure and innovation to support this transformative wave.

Key players have emerged as pioneers of innovation. Established bicycle manufacturers, tech giants, and startups alike are vying for supremacy in this new era of urban mobility. From sleek designs to robust battery systems, each player is bringing its unique strengths to the table. Collaborations between traditional cycling experts and electric propulsion visionaries have led to the creation of E-bikes that effortlessly blend performance, style, and sustainability.

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Top Report Findings

  • Asia-Pacific is the largest market for e-bikes, accounting for 42.5% of the global market in 2022. Europe is the second largest market, followed by North America.
  • The pedal-assisted segment is the largest segment of the e-bike market, accounting for 60.6% of the global market in 2022. The speed pedelecs segment is the fastest-growing segment, with a CAGR of 18.2% during the forecast period.
  • The city/urban segment is the largest application segment of the e-bike market, accounting for 55.6% of the global market in 2022. The recreational segment is the second largest application segment, followed by the commuting segment.
  • The lithium-ion battery segment is the largest battery type segment of the e-bike market, accounting for 75.5% of the global market in 2022. The lead-acid battery segment is the second largest battery type segment, followed by the nickel metal hydride battery segment.

Top Companies in Global E-Bike Market

  • Accell Group (Netherlands)
  • Jiangsu Xinri E-Vehicle Co. Ltd. (China)
  • Mahindra & Mahindra Ltd. (India)
  • Prodecotech LLC (US)
  • Derby Cycle (Germany)
  • Fuji-ta Bicycle Co. Ltd. (China)
  • Giant Manufacturing Co. Ltd. (Taiwan)
  • Tianjin Golden Wheel Group Co. Ltd. (China)
  • Trek Bicycle Corporation (US)

And More…..

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E-Bike Market Dynamics

One of the most prominent driving factors behind the remarkable rise of the e-bike market is the growing emphasis on environmental awareness and sustainability. As concerns over air pollution and carbon emissions escalate, individuals and governments alike are seeking eco-friendly alternatives to conventional modes of transportation. E-bikes, with their zero tailpipe emissions and minimal energy consumption, have emerged as a viable solution, aligning perfectly with the global call for greener transportation options.

Another pivotal factor driving the e-bike market is the continuous advancement in battery technology. The modern lithium-ion batteries used in e-bikes offer a winning combination of power, range, and durability. These improvements have alleviated concerns about the limited range of e-bikes, making them a feasible option for longer commutes. Additionally, faster charging times and longer battery lifespans have enhanced the overall ownership experience, bolstering consumer confidence in adopting e-bikes for daily transportation needs.

Top Trends in E-Bike Market

E-bike market's top trends lies a resounding commitment to sustainability. As cities grapple with air quality concerns and climate change, E-bikes have emerged as a beacon of eco-friendly commuting. With zero tailpipe emissions and a significantly reduced carbon footprint, E-bikes align seamlessly with the global call for greener transportation options. This trend isn't just about convenience; it's about ushering in a new era of conscientious mobility that resonates with environmentally conscious consumers.

In the digital age, E-bikes are undergoing a transformation through the integration of smart technology. From smartphone connectivity to onboard sensors, E-bikes are becoming part of the Internet of Things (IoT), offering riders a wealth of real-time data and features. Mobile apps provide insights into battery levels, navigation assistance, and fitness tracking. This trend not only enhances the riding experience but also positions E-bikes as intelligent, data-driven companions for modern commuters.

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Global Electric Bike Market Segmentation

By Class

  • Class-I
  • Class-II
  • Class-III

By Speed:

  • Up to 25km/h
  • 25-45km/h

By Battery Type:

  • Lithium-ion
  • Lithium-ion Polymer
  • Lead Acid
  • Other Battery Types

By Motor Type:

  • Hub
  • Mid

By Mode:

  • Pedal Assist
  • Throttle

By Components

  • Batteries
  • Electric Motors
  • Crank Gears
  • Brake Systems
  • Frames With Forks
  • Wheels
  • Motor Controller

By Usage:

  • Mountain
  • City/Urban
  • Trekking
  • Cargo
  • Other Usages


One of the central challenges facing the E-bike market revolves around infrastructure integration and accessibility. While cities are adapting to the new wave of micro-mobility, the development of dedicated E-bike lanes and charging stations lags behind the surging demand. Without adequate infrastructure, E-bike riders often find themselves navigating through congested traffic, limiting the appeal of these vehicles as a reliable transportation option.

As E-bikes continue to surge in popularity, regulatory frameworks struggle to keep pace with their evolving nature. Different jurisdictions classify E-bikes differently, leading to confusion regarding where they can be ridden and at what speeds. Striking a balance between fostering innovation and ensuring safety remains a challenge. There's a need for cohesive regulations that address varying E-bike types, speeds, and permissible locations.


One of the most significant opportunities within the E-bike market is the burgeoning wave of environmental awareness. As individuals and communities rally behind the call for sustainable living, electric bikes stand poised as transformative solutions. With zero tailpipe emissions and minimal carbon footprint, these vehicles resonate with eco-conscious consumers. Entrepreneurs and established manufacturers alike have the opportunity to tap into this growing demand, aligning their offerings with the global shift towards greener alternatives.

The rise of urbanization has given birth to a prime opportunity: last-mile connectivity. electric bikes are uniquely positioned to address the gaps in urban transportation by seamlessly covering short distances that are often challenging to navigate using traditional modes of transport. As cities invest in dedicated cycling infrastructure and micro-mobility solutions, entrepreneurs can seize the opportunity to provide efficient and convenient electric bike sharing services that cater to the demands of urban dwellers.

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Recent Development

  • March 2023: Nibe Limited, an Indian e-bike company, raised INR 104.40 crores (USD 13.6 million) in a private placement round. The funds will be used to expand the company's manufacturing capacity, develop new products, and increase its marketing and sales efforts.
  • February 2023: Hero Motors and Yamaha Motor Co. signed an agreement to form a joint venture to manufacture e-cycles in India. The joint venture, called Hero Electric Vehicles, will have a manufacturing capacity of 1 million e-cycles per year.
  • January 2023: Rad Power Bikes, a US-based e-bike company, raised USD 400 million in a Series D funding round. The funds will be used to expand the company's manufacturing capacity, develop new products, and enter new markets.

Key Questions Answered in Electric Bike Market Report

  • What is the current size of the electric bike market globally and in specific regions?
  • What has been the historical market growth, and what are the projected growth rates?
  • What factors are driving the expansion of the market?
  • Which regions or countries are the largest markets?
  • Are there regional variations in adoption rates, and what are the reasons behind these differences?
  • What are the primary drivers behind the growing demand for electric bikes?
  • What challenges does the industry face in terms of technology, infrastructure, regulations, etc.?

Regional Analysis

The Asia Pacific region has emerged as a hotspot for innovation and transformation across various industries, and the E-bike market is no exception.

The Asia Pacific region has witnessed robust growth in recent years. Rapid urbanization, traffic congestion, and a growing emphasis on sustainable transportation have collectively driven the adoption of Electric-bikes. Countries such as China, Japan, and South Korea have been at the forefront of this trend, with a burgeoning number of commuters choosing E-bikes as their preferred mode of transport. This surge in demand has led to the emergence of a diverse range of E-bike models, catering to various consumer preferences and riding needs.

Government initiatives play a pivotal role in shaping the Electric bike market in the Asia Pacific region. Many governments have recognized the potential of Electric bikes to address urban mobility challenges and reduce pollution. As a result, they have implemented policies that encourage the adoption of E-bikes. Subsidies, tax incentives, and infrastructure development are some of the measures taken to promote E-bikes as a sustainable transportation solution. These initiatives have not only boosted sales but have also contributed to the growth of domestic E-bike manufacturers.

Scope of the Report:

Report AttributesDetails
Market Size in 2022USD 53.75 Billion
Revenue Forecast by 2030USD 112.73 Billion
CAGR9.70% from 2023 to 2030
Base Year2022
Forecast Year2023 to 2030
Key Playersccell Group, Derby Cycle, Fuji-ta Bicycle Co. Ltd., Giant Manufacturing Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., Prodecotech LLC.
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