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Electric Bikes Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Electric Bikes
What Is the Electric Bikes Market Size and Projected Growth Rate?
The electric bikes market has experienced rapid growth in recent years. It will grow from $56.79 billion in 2024 to $65.11 billion in 2025 at a compound annual growth rate (CAGR) of 14.7%. This growth is attributed to increased environmental awareness, government incentives and policies, urbanization, traffic congestion, and growing consumer interest in health, fitness, and transportation cost savings.
The electric bikes market is expected to grow rapidly, reaching $109.07 billion by 2029 with a CAGR of 13.8%. This growth is driven by the shift toward electric mobility, the rise of sharing and rental services, product innovation, and the focus on sustainability. Major trends include e-bike subscription models, lightweight design innovations, environmental sustainability messaging, and customization options.
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What Are the Major Segments in the Electric Bikes Market?
The electric bikes market covered in this report is segmented -
1) By Class: Class-I, Class-II, Class-III
2) By Motor Type: Mid Motor, Hub Motor
3) By Battery Type: Lead Acid, Lithium ion (Li-ion), Nickel-Metal Hydride (NiMH), Other Battery Types
4) By Application: Mountain Or Trekking, City Or Urban, Cargo, Other Applications
Subsegments:
1) By Class-I: Pedal-assist Only, Maximum Speed: 20 mph (32 km/h)
2) By Class-II: Throttle-assisted, Maximum Speed: 20 mph (32 km/h)
3) By Class-III: Pedal-assist Only, Maximum Speed: 28 mph (45 km/h)
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What Are The Driving Electric Bikes Market Evolution?
The implementation of government regulations to promote electric bike usage is expected to drive the electric bike market. Electric bikes offer advantages like longer range and ease of use, making them an attractive transportation option. In March 2024, India's Ministry of Heavy Industries launched the Electric Mobility Promotion Scheme to encourage the adoption of electric vehicles. Similarly, Indonesia's government announced subsidies for electric scooter purchases starting in 2024. These initiatives are expected to fuel the growth of the electric bike market.
Which Firms Dominate The Electric Bikes Market Segments?
Major companies operating in the electric bikes market include Panasonic Corporation, Yamaha Motor Company, Pon Holdings BV, Giant Manufacturing Co. Ltd., Pon Bicycle Holding B.V., Yadea Group Holdings Ltd., Accell Group NV, Trek Bicycle Corporation, Merida Industry Co. Ltd., Tianjin Golden Wheel Bicycle Group Co. Ltd., FRITZMEIER Systems GmbH & Co. KG, Specialized Bicycle Components Inc., Cube Bikes GmbH, Derby Cycle AG, Derby Cycle Holding GmbH, Brompton Bicycle Ltd., Beistegui Hermanos S.A., VanMoof, Koninklijke Gazelle N.V., Pedego Electric Bikes, Cannondale Bicycle Corporation, Electra Bicycle Company, BionX International Corporation, Focus Bikes GmbH, Gocycle Limited, Klever Mobility Europe GmbH, Tianjin Fuji-ta Group, Bulls Bikes GmbH, KTM Fahrrad GmbH, Cycles Lapierre S.A.S., M1-Sporttechnik GmbH & Co. KG, Orbea S. Coop. Ltda., Pivot Cycles LLC
What Are the Latest Developing Trends in the Electric Bikes Market?
Technological innovations in the electric bike market include advancements in powertrain design, such as the 12kW in-hub powertrain, which boosts performance and energy efficiency. Kabira Mobility Pvt. Ltd., an India-based startup, launched two electric bike models in February 2024 featuring a 12kW aluminum core hub motor powertrain developed with Foxconn. These bikes offer enhanced torque, acceleration, and top speeds, with a modular battery pack for greater range.
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Which Is The Largest Region In The Electric Bikes Market?
The countries covered in the electric bikes global market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Bikes Market?
2. What is the CAGR expected in the Electric Bikes Market?
3. What Are the Key Innovations Transforming the Electric Bikes Industry?
4. Which Region Is Leading the Electric Bikes Market?
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