EBike Market Size, Share, Industry Trends & Forecast 2024-2030

EBike Market by Class (Class I, II, & III), Battery (Li-ion, Li-ion Polymer, Lead Acid), Motor (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Battery Capacity, Component, & Region - Global Forecast to 2030
The global e-bike market [https://www.marketsandmarkets.com/Market-Reports/electric-bike-market-110827400.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=electric-bike-market] is projected to grow from USD 48.72 billion in 2024 to USD 71.48 billion by 2030 at a CAGR of 6.6%. The worldwide demand for e-bikes is growing rapidly as customers see them as an eco-friendly solution for commutes, with rising fuel prices supporting this inclination. Government bodies in various cities worldwide have undertaken initiatives to build bicycle highway lanes for e-bikes.

European e-bike sales declined in 2023 due to wars, inflations, overstocks of e-bike components, and a global economic slowdown. Furthermore, due to wars, European consumers do not want to spend more money buying e-bikes. According to data from the European Cycling Industry Federation (ECF), European e-bike sales declined by 15.3% in 2023. This is a significant drop from the 11.2% growth the market saw in 2022. In 2024, the e-bike market saw a decline of 3.1% and is expected to increase from 2025 due to the growing popularity of e-bikes for commuting and leisure; governments worldwide are investing in infrastructure and incentives to promote e-bike use. An increase in demand for micro-mobility service providers, a rise in sales of e-bikes, and a rise in demand for energy-efficient e-bikes are some of the factors expected to increase the demand for >2 kg -

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Lithium-ion in the battery segment is forecasted to be the largest e-bike market.

Ebikes equipped with lithium-ion batteries are projected to hold the largest market share, attributed to the numerous advantages these batteries offer, including superior lifecycle, high energy density, wide operating temperatures, and a higher power-to-weight ratio compared to other battery types. Lithium-ion batteries have become the preferred choice for electric bikes over lead-acid batteries due to their superior performance and long-term benefits. One of the critical advantages of lithium-ion batteries is their higher energy density, which allows them to store more energy in a smaller and lighter package compared to lead-acid batteries. This translates to more extended range and reduced overall vehicle weight, making lithium-ion batteries ideal for electric bikes. Another significant advantage of lithium-ion batteries is their longer lifespan. They can handle more charge cycles than lead-acid batteries, with lithium-ion batteries lasting 2000-5000 charge cycles, while lead-acid batteries have a shorter lifespan. Lithium-ion batteries require less frequent replacement, making them a more cost-effective option in the long run. Furthermore, the prices of lithium-ion batteries have witnessed a significant decline in recent years, plummeting by approximately 90%. Intensifying competition within the market has compelled manufacturers to slash costs to maintain competitiveness.

Mid Motor is forecasted to be the fastest-growing e-bike market in the motor segment.

The mid-drive motor is forecasted to be the fastest-growing segment in the bike market. Mid-drive motors are positioned near the pedals, where a traditional bike's crankset is. This placement allows them to engage the drivetrain directly, resulting in a more natural and responsive riding experience than hub motors on the wheels. Mid-drive motors can be more powerful than hub motors, offering excellent assistance when climbing hills or accelerating. Additionally, they deliver higher torque, which translates to better pulling power, which is especially beneficial for tackling challenging terrain or carrying heavy loads. Mid-drive motors suit various e-bikes, including mountain, commuter, and gravel. Mid motors manage batteries efficiently while consistently delivering power. North America and Europe shifted towards mid-motor motors compared to hub motors because mid-drive motors place the weight near the center of the bike, which can improve handling and balance compared to hub motors concentrated in the wheels. This is a significant advantage for performance-oriented riders and those tackling technical terrain, and these regions are facing high demand for mountain/trekking bikes. Europe has the largest market for mountain/trekking e-bikes, with a market share of 63% in value. Meanwhile, mountain/trekking e-bikes are North America's second-fastest-growing e-bike type after cargo e-bikes.

North America region holds the largest share of the EBike Market.

In North America, cargo e-bikes are expected to grow at the highest CAGR due to the increased adoption of electric bikes for transporting goods from one place to another, traffic congestion, and rising fuel prices in North American cities. Cargo e-bikes offer a faster and greener alternative to traditional delivery vans or trucks, especially for last-mile deliveries. Ebikes require minimal maintenance and have lower electricity costs compared to gas-powered vehicles. Some regions offer subsidies or tax breaks for businesses switching to e-bikes, further boosting their adoption. This is increasing the demand for cargo e-bikes. In December 2024, AIMA EBIKE USA and its North American dealer team announced their entry into North America at CES 2024. AIMA launched models like the Big Sur and Santa Monica, featuring Bafang's H550 and H560 systems, which gained strong interest.

Major players operating in the Asia Oceania e-bike market are Giant Manufacturing Co. Ltd (Taiwan), Hero Lectro (India), TAV Systems (Australia), Yamaha Motor Company (Japan), Merida Industry Co. (Taiwan), and Emotorad (India)

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