Press release
Electric Bikes and Scooters Market Set to Reach $39.1 Billion by 2029 with 6.6% Yearly Growth
Electric Bikes and Scooters Market
The market for electric bikes and scooters has been growing robustly in the latest years. Its growth is predicted to rise from $28.08 billion in 2024 to $30.27 billion in the following year, 2025, with a compound annual growth rate (CAGR) of 7.8%. The significant increase seen in the historic period is due to factors like escalating fuel prices, government initiatives, early entrants into the market, urbanization and city congestion, as well as shifts in consumer behavior.
The market for electric bikes and scooters is anticipated to experience robust expansion in the forthcoming years, surging to a valuation of $39.1 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.6%. The escalation during the forecast period is due to factors like environmental issues, economic patterns, global market progression, competitive market scenario, infrastructure advancement, and the rate of consumer acceptance. Key trends during the forecast period comprise of solutions for urban mobility, regulatory backing and incentives, increased environmental consciousness, last-mile connectivity, and consumer tastes and customization.
What Are the Forces Behind the Rapid Growth of the Electric Bikes and Scooters Market?
The growing consciousness regarding pollution is a significant catalyst for the electric bikes and scooters market. This is due to the enhanced understanding of the necessity to curtail pollution among people, which has inclined them towards more eco-friendly transportation alternatives that lessen and manage pollution. As an illustration, a study published by Forbes revealed that the sales of electric bikes (e-bikes) have outpaced those of non-electric ones in the Netherlands, thanks to the heightened pollution awareness. The trend of electric bikes and scooters adoption is projected to persist in future years as the carbon dioxide emitted from the combustion of fossil fuels presents a severe environmental hazard, leading to global warming and climate alterations.
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Who Are the Dominant Companies Influencing Electric Bikes and Scooters Market Trends?
Major companies operating in the electric bikes and scooters market include Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Mahindra & Mahindra Limited, Govecs AG, Yadea Group Holdings Ltd., Giant Manufacturing Co. Ltd., AIMA Technology Co. Ltd., Trek Bicycle Corporation, Dongguan Tailing Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Energica Motor Company S.p.A., Gogoro Inc., KTM AG, Yamaha Motor Co. Ltd., Vmoto Limited, Zero Motorcycles Inc., Tianjin Golden Wheel Group Co. Ltd., Hero Electric Vehicles Pvt. Ltd., Terra Motors Corporation, Aventon Bikes, Z Electric Vehicle Corporation, Fuji-Ta Bicycle Co. Ltd., Prodeco Technologies LLC, Zhejiang Luyuan Electric Vehicle Co. Ltd., Amego Electric Vehicles Inc., Shandong Incalcu Electric Vehicle Co. Ltd., Cowboy Electric Bikes, Keego Mobility Co. Ltd., Rad Power Bikes, Volt Motorcycles Ltd., Karbon Kinetics Limited, Raleigh Bicycle Company, Piaggio & C. SpA, Ather Energy Private Limited, Evoke Electric MotorcyclesLtd., Lightning Motorcycle Corp., Derby Cycle Holding GmbH, Riese & Müller GmbH, Stromer Electric Bikes
How Is the Electric Bikes and Scooters Market Evolving?
The advancement of battery technology is a notable trend in the electric bikes and scooters industry. This includes the increasing employment of graphene batteries in these vehicles. These batteries utilize a super-thin substance called graphene as their electrolyte, which results in quicker charging periods, larger capacity, and a reduction in the vehicle's overall weight. Earthday, a start-up firm headquartered in Barcelona, Spain, is striving to improve the performance of graphene batteries so that it can power electric bikes and scooters in a span of roughly five minutes.
What Are the Different Segmentations in the Electric Bikes and Scooters Market?
The electric bikes and scooters market covered in this report is segmented -
1) By Product: Electric Bikes, Electric Scooters
2) By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal Hydride (NiMh), Other Batteries
3) By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V
4) By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms
Subsegments:
1) By Electric Bikes: City Or Urban E-bikes, Mountain E-bikes, Folding E-bikes, Cruiser E-bikes, Cargo E-bikes
2) By Electric Scooters: Stand-Up Electric Scooters, Sit-Down Electric Scooters, Off-Road Electric Scooters, Commuter Electric Scooters, Self-Balancing Scooters
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Which Region Is at the Forefront of the Electric Bikes and Scooters Market?
The countries covered in the electric bikes and scooters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Is Covered In The Electric Bikes and Scooters Global Market Report?
- Market Size Analysis: Analyze the Electric Bikes and Scooters Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Bikes and Scooters Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electric Bikes and Scooters Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Bikes and Scooters Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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