E-bikes market is anticipated to grow at a significant CAGR of around 14.5% during the forecast period. The rising government regulations to encourage the use of electric bikes to to reduce carbon emission levels, consumer inclination towards e-bikes adoption for commute, recreational and adventure activities, and features provided by e-bikes such as compact size, flexible, and eco-friendly are the key factors boosting the market growth. The use of pedel assisted bikes helps to maintain fitness also. Therefore consumers opt e-bikes in fitness activites. A study conducted by CU Boulder quantified the health benefits of replacing commuting via cars from Class-1 e-bike they found that in one month, in comparison to driving a car, traveling via an e-bike helped contributors improve blood sugar control, increased essential cardiovascular endurance. Additionally, the popularity of cycling as recreational activity due to several cycling benefits such as physical and mental health muscle fitness, flexibility with the reduced risk of stress and depression are the major factors driving the e-bikes market. High costs of e-bikes are due to the cost of battery and technology used in e-bikes are high as compared to traditional bikes these factors are hampering the market growth. The growing demand for e-bikes, the connected-bikes is one such advancement, in the SIM module that enables the e-bike to send and receive data to and from the cloud without a connected smartphone are opportunities for the market growth.
The impact of COVID-19 was seen positively on the global e-bike market, that is attributed to commuters are mostly avoiding public transportation, e-ikes are considered as a safe, convenient, and affordable alternative to public transportation. According to e-bikes manufacturers such as VanMoof, Lectric e-bike, and Rad Poer Bike, e-bikes are considered as ideal transportation. Commuters are adopting the bike as a mode of day-to-day transportation. In March 2021, According to the report published by World Economic Forum(WEF), sales of electric bikes in the US grew by 145% in 2020 as compared to 2019. In August 2020, According to New Product Development (NPD group), electric moped sales with an average selling price of over $1,000 grew by 190% in June 2020 from June 2019 as a result the COVID-19 has sped the demand for e-bikes.
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E-Bikes Market Segmentation
By Propulsion Type
- Pedal Assisted
- Throttle Assisted
By Power
- Less Than and Equal To 250W
- Above 250W
By Battery Type
- Li-Ion Battery
- Lead Acid Battery
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- ATALA S.p.A
- Benelli Q.J.
- Cycling Sports Group, LLC
- Damon Motors Inc.
- Derby Cycle
- Electric Bike & Skate
- Energica Motor Co. SpA
- ENGWE
- Fuji-ta Bicycle Co.,Ltd.
- Harley-Davidson
- Mahindra & Mahindra.
- PEDEGO INC
- Rad Power Bikes Inc.
- Riese& Müller GmbH
- Robert Bosch GmbH
- Shimano Inc.
- Trek Bicycle Corp.
- VanMoof B.V.
- Yamaha Motor Co., Ltd.
- Zero Motorcycles
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