Global e-Bike Market Forecasted at $77.6 Billion by 2028: China's Dominance Propels Asia-Pacific to Lead Global e-Bike Market Revenue Surge

Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "E-Bike: Global Markets" report has been added to's offering.

The global e-bike market was valued at $41.3 billion in 2022 and should reach $77.6 billion by 2028, with a CAGR of 11.6% during the forecast period (i.e., 2023 to 2028).

Electric bicycles are experiencing a substantial surge in global recognition and adoption. As many nations and municipalities recognize e-bikes' potential to alleviate traffic congestion, reduce emissions and promote a healthier lifestyle, the global e-bike market has experienced explosive growth. These unique two-wheelers integrate electric power assistance with conventional cycling, providing a more eco-friendly and accessible mode of transportation that caters to a diverse user base.

E-Bike sales have increased dramatically in North America, Europe and Asia. Accessibility is a significant factor in this surge in the popularity of this technology. Electric bicycles accommodate a diverse range of users, including elderly individuals who desire to maintain an active lifestyle and city commuters searching for a more environmentally sustainable and efficient mode of transportation to work.

Moreover, e-bikes are an intermediary between cycling lovers and individuals who may lack the muscular stamina required to operate a conventional bicycle. Consequently, e-bikes have emerged as a prominent mode of urban transportation, providing a practical resolution for the final lap of travel, mitigation for traffic congestion and an outstanding substitute for public transportation.

Technological progress has considerably contributed to the worldwide rise of electric bicycles. The design of electric bikes has undergone a significant transformation, shifting from bulky and primitive to streamlined, lightweight and exceptionally efficient machines. The size reduction and increased power of critical components like batteries and electric motors have enabled e-bikes to travel farther and reach higher velocities. Lithium-ion batteries, which balance weight, energy density and durability, are particularly prevalent. Contemporary electric bicycles frequently incorporate touch screens, smartphone integration and a variety of cycling modes, thereby granting riders the ability to personalize their experience. Additionally, specific models feature regenerative braking, further enhancing their energy efficiency.

This report segments the global e-bike market based on class, configuration, motor type, propulsion type, motor power, battery type and application. Based on the class, the market is segmented into class I, class II and class III. In 2022, the class I segment had the highest share, 78.1%, and it is expected to register a CAGR of 11.2% during the forecast period. The increasing demand for pedelecs, which offer health benefits and power assistance up to 25 kilometers per hour without any driving restrictions, is anticipated to expand class I e-bikes.

Regarding geographical region, Asia-Pacific held the highest revenue share in the 2022 market at $25.3 billion, and it is expected to continue to dominate the revenue share with an anticipated value of $44.8 billion in 2028. The Asia-Pacific region generates around 61% of the market revenue, with China leading the way, with over 60% to 70% of the global e-bike production concentrated within its borders. This is expected to contribute to expanding the e-bike market in the region.

Report Scope

This report provides an analysis of the global market for e-bikes. Using 2022 as the base year, the report provides estimated market data for 2023 through 2028. This report also offers insights on drivers and opportunities for the market, which were gathered through primary and secondary research. It also covers various market factors, including COVID-19 impact, the Russia-Ukraine war, Porter's five forces, use case analysis, patent analysis, competitive intelligence, ESG developments, M&A and funding, and the regulatory landscape.

The report also provides detailed profiles of significant e-bike players and their strategies to enhance their market presence. The report also includes a competitive landscape chapter that discusses the market ecosystem of the top e-bike provider in 2022.

The report includes:

  • 67 data tables and 48 additional tables
  • An overview of the current and future global markets for e-bikes
  • Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024 and 2026, and projections of compound annual growth rates (CAGRs) through 2028
  • Estimate of the actual market size and revenue forecast for the global e-bike market, and a corresponding market share analysis based on vehicle class, configuration, motor type, propulsion type, battery type, motor power, application, and region
  • Overview of the market drivers and challenges and the vendor landscape
  • Analysis of market growth opportunities with a holistic review of the Porter's Five Forces model, the industry value chain, use case analysis, and the impacts of region
  • and industry-specific macroeconomic variables
  • Discussion of sustainability trends and factors in the market for e-bikes, with emphasis on ESG performance and scores, case studies and the ESG practices followed in the industry
  • Competitive intelligence related to the leading companies, their global rankings, recent developments, key financials and segmental revenues, and product portfolios
  • Profiles of the leading market players.

Companies Profiled

  • Accell Group
  • Aima Technology Group Co. Ltd.
  • Fuji-Ta Bicycle Co. Ltd.
  • Giant Manufacturing Co. Ltd.
  • Hero Cycles Ltd.
  • Kalkhoff Werke GmbH
  • Merida Industry Co. Ltd.
  • Pedego
  • Pon Holdings B.V.
  • Robert Bosch GmbH
  • Shimano Inc.
  • Tern
  • Trek Bicycle Corp.
  • Yadea Technology Group Co. Ltd.
  • Yamaha Motor Co. Ltd.
  • Zweirad-Einkaufs-Genossenschaft GmbH

Key Attributes

Report AttributeDetails
No. of Pages208
Forecast Period2023-2028
Estimated Market Value (USD) in 2023$44.9 Billion
Forecasted Market Value (USD) by 2028$77.6 Billion
Compound Annual Growth Rate11.6%
Regions CoveredGlobal

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Global E-Bike Market

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