Electric Bicycle Market Size Worth USD 124.74 Billion by 2033 | Straits Research

According to a new report published by Straits Research, the global electric bicycle market size was valued at USD 40.87 billion in 2024 and is projected to reach USD 124.74 billion by 2033, growing at a CAGR of 13.2% from 2025 to 2033. The market is expected to expand rapidly as electric bicycles continue to transform the global mobility landscape with technological advancements, sustainable transport initiatives, and growing urbanization.

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Electric Bicycle Market Overview

Electric bicycles, commonly known as e-bikes, integrate an electric motor and battery to support pedaling, offering a faster and more efficient cycling experience. With the rise in environmental awareness and urban traffic congestion, e-bikes are gaining popularity among commuters, recreational riders, and sports enthusiasts. The introduction of connected mobility technologies such as V2X (vehicle-to-everything) is further revolutionizing rider safety and performance. For instance, Tome Software collaborated with SAE Industry Technologies and other members to develop a bicycle-to-vehicle (B2V) communication standard, marking a significant milestone in bicycle connectivity.

Key Growth Drivers

Urbanization and Traffic Congestion

Rising urbanization and increasing traffic congestion are among the primary factors propelling the electric bicycle market growth. As of 2023, 57% of the global population lived in urban areas, and this figure is expected to rise to two-thirds by 2050, according to the United Nations. Major cities such as London and Bengaluru are experiencing severe congestion, leading to increased commuting times and economic losses. E-bikes provide an efficient and eco-friendly solution by reducing travel times, easing congestion, and improving air quality.

In London, for example, the Scrappage Scheme valued at £110 million encourages residents to exchange old vehicles for electric bicycles and public transport options. Similarly, traffic congestion costs the U.S. economy around USD 120 billion annually, highlighting the economic advantages of adopting e-bikes for daily commuting.

For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/electric-bicycle-market/

Market Restraints

Limited Charging Infrastructure

Despite strong demand, the lack of charging infrastructure remains a major challenge for e-bike adoption, especially in developing regions. China, the world's largest electric bicycle market, faces infrastructure limitations in rural and less developed areas. McKinsey's analysis highlights that insufficient charging stations can hinder consumer confidence, leading to range anxiety and slower adoption rates.

Market Opportunities

Government Incentives and Support

Global governments are increasingly supporting electric bicycles through incentives and policies promoting sustainable transport. In Europe, countries such as Germany and France offer subsidies and tax benefits to encourage e-bike ownership. German residents can receive up to 50% of the purchase price (maximum €500) for an e-bike under the European Environmental Fund. Similarly, China has aligned e-bike adoption with its National Climate Change Program and the 13th Five-Year Plan, offering subsidies and restrictions on traditional motorcycles to minimize pollution.

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Regional Insights

Asia-Pacific Dominance

The Asia-Pacific region leads the global electric bicycle market and is projected to grow at a CAGR of 13.4% through 2033. The region's growth is driven by strong e-bike adoption in China, Japan, and India, supported by extensive cycling infrastructure, traffic congestion, and strict emission laws.

Europe's Growing Investment

Europe is forecasted to expand at a CAGR of 13.8%, led by Germany, France, and Italy. France announced a €2 billion investment in national cycling infrastructure in 2023 as part of its 2023-2027 Cycling and Walking Plan, which is expected to double by 2024.

North America's Rapid Uptake

In North America, rising awareness of sustainable commuting and the expansion of electric bike-sharing programs have boosted market growth. Companies like Lyft have announced plans to double their e-bike fleets and electrify 20% of stations to promote clean mobility.

Market Segmentation Highlights

By Motor Type: Mid Drive, Hub Motor
By Battery Type: Lithium-ion, Lead Acid
By Application: Sports, Fitness, Daily Commute
By Consumer Segment: Urban, Rural
By Power Output: 250W and less than 250W, Above 250W
By Region: North America, Europe, APAC, Middle East & Africa, LATAM

Mid-drive motors dominate the market due to their superior power efficiency and ability to handle rugged terrains. Meanwhile, lithium-ion batteries lead the battery segment thanks to their higher energy density and lightweight design. The sports application segment holds a substantial share, driven by growing demand for performance-oriented e-bikes among adventure and fitness enthusiasts.

Urban consumers remain the primary revenue contributors, reflecting the growing adoption of e-bikes for last-mile connectivity, daily commuting, and eco-friendly urban mobility.

For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/electric-bicycle-market/

Competitive Landscape

Accell Group N.V.
CSE EV GROUP CO LTD
Derby Cycle
Fuji-ta Bicycle Co Ltd
Giant Manufacturing Co. Ltd
Merida Industry Co, Ltd
Royal Dutch Gazelle
Trek Bicycle Corporation
Riese & Müller Business
Yadea Group Holdings Ltd
Yamaha Motor Corporation

Browse More Insights & Reports :

Electric Mobility Market : https://straitsresearch.com/report/electric-mobility-market

Hub Motor Market : https://straitsresearch.com/report/hub-motor-market

E-bike Battery Pack Market : https://straitsresearch.com/report/e-bike-battery-pack-market

Electric Bike Market : https://straitsresearch.com/report/electric-bike-market

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