E-bikes Market Share and Sustainable Growth Opportunities 2030

E-bikes Market Growth & Trends

The global e-bikes market size is anticipated to reach USD 52.37 billion by 2030, growing at a CAGR of 13.5% over the forecast period, according to a new report published by Grand View Research, Inc. Electric bikes are considered an eco-friendly and flexible mode of transportation. They are an ideal substitute for public transport, scooters, and smart cars as they help avoid traffic jams and achieve high speed with minimal effort. Moreover, they enable riders to maintain a healthy lifestyle through increased physical activity. These factors are contributing to the growth of the global market.

E-bikes Market Segmentation

Grand View Research has segmented the global e-bikes market based on propulsion type, battery type, power, application, and region:

Based on the Propulsion Type Insights, the market is segmented into Pedal-assisted and Throttle-assisted.

• The pedal-assisted segment dominated the market in 2021 and accounted for over 58% market share. Pedal-assisted e-bikes generate greater power from the motor, enabling riders to move faster and pedal easily. Moreover, these bikes are widely adopted for use on hills and steep routes. The surge in demand for pedal-assisted e-bikes among the youth is anticipated to contribute to market growth.
• The throttle-assisted segment is estimated to grow at the highest CAGR of 14.6% over the forecast period. The growth of the segment can be attributed to the increasing adoption of throttle-assisted e-bikes owing to the power provided by the throttle directly to the engine, thus mitigating the need to pedal manually.

Based on the Battery Type Insights, the market is segmented into Lithium-ion Battery and Lead-acid Battery.

• The lead-acid battery segment dominated the market in 2021 and accounted for over 54% market share. The segment growth can be attributed to various benefits offered by lead-acid batteries, such as low cost and robustness. However, the adoption of these batteries is projected to decline over the coming years as they are bulky and discharge rapidly.
• The lithium-ion battery segment is estimated to grow at a CAGR of 12.9% from 2022 to 2030. As per a report published by the European Commission, the price of lithium-ion batteries is anticipated to decrease by nearly 70% by 2030. Benefits such as high charge density, high performance, low weight, and high charging-discharging efficiency are anticipated to favor the adoption of these batteries, thereby supporting the segment growth.

Based on the Power Insights, the market is segmented into Less Than or Equal to 250W and Above 250W.

• The above 250W segment accounted for a 50% share of the overall market in 2021. E-bikes with a power output of over 250W have gained popularity as they can effortlessly be ridden on hilly and steep areas. This is expected to drive the growth of the segment over the forecast period as well.
• The less than or equal to 250W segment is anticipated to grow at a CAGR of 14.1% over the forecast period. E-bikes with a power of less than or equal to 250W can be ridden in the city as well as in high and steep areas for both recreational and fitness purposes. Furthermore, the low power output required by these bikes reduces the need to charge them frequently.

Based on the Application Insights, the market is segmented into City/Urban, Trekking, Cargo, Others.

• The trekking segment accounted for over 49.6% share of the global revenue in 2021. The use of e-bikes is rapidly increasing for recreational and trekking activities. Additionally, the growing awareness for performance-based adventure, along with the increasing demand for leisure activities, is expected to further contribute to the market growth.
• The cargo segment is anticipated to grow at a CAGR of 14.4% from 2022 to 2030. The increasing demand for e-bikes to carry luggage from one place to another is expected to support the growth of the segment over the forecast period. A surge in logistics and freight activities in countries such as India and China is also expected to drive the demand for e-bikes.

E-bikes Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

• November 2019: Pon Bike acquired Urban Arrow, a Dutch e-cargo bike brand. The acquisition enabled the company to enhance its product portfolio.

Key Companies Profile & Market Share Insights

Prominent players in the e-bikes market adopt various growth strategies, such as geographic expansion and new product launches, to strengthen their market presence. Moreover, they focus on enhancing their existing product offerings and improving brand awareness to gain a competitive edge in the market.  

Some of the prominent players operating in the global E-bikes market include,

• Pedego Electric Bikes
• Yamaha Motor Company
• Aima Technology Group Co. Ltd.
• Merida Industry Co. Ltd.
• Trek Bicycle Corporation

Order a free sample PDF of the E-bikes Market Intelligence Study, published by Grand View Research.