E-bike Market Size, Share & Growth Forecast to 2032
The global E-Bike market is projected to grow from USD 54.1 billion in 2025 to USD 87.2 billion by 2032 at a CAGR of 7.0%.
The global e-bike market is showing signs of recovery and
steady growth following a period of fluctuation in 2023 and early 2024. Major
drivers fueling the market include robust government subsidies and purchase
incentives, the expansion of micro-mobility services, advancements in battery
and motor technology, and increased investment in cycling infrastructure across
urban centers.
Governments are actively supporting the growth of the e-bike
market through a combination of financial incentives, infrastructure
development, and regulatory measures. Subsidy programs such as Germany’s KfW
442 for e-cargo bikes, France’s Bonus VĂ©lo, India’s FAME-II initiative, and
various regional incentives and tax benefits in China are effectively reducing
the upfront cost for consumers. Simultaneously, countries, including the
Netherlands, Belgium, France, and several cities across India and the US, are
investing in dedicated e-bike lanes and high-speed cycling corridors, improving
rider safety and overall convenience. Additionally, regulatory frameworks such
as Japan’s streamlined licensing for pedal-assist e-bikes, California’s
affordability programs, and the UK’s Cycle to Work scheme are enhancing
accessibility and encouraging broader adoption of electric bicycles.
>250W-<450W battery capacity to hold largest share
of e-bike market
E-bikes equipped with battery capacities ranging from
>250W to <450W are gaining significant traction due to their optimal
balance of range, affordability, and practicality. Offering an effective range
of approximately 30 to 70 km under typical usage conditions, these batteries
are well-suited for urban commuters and leisure riders who typically travel 15
to 30 km daily. Their relatively low cost, generally between USD 300 and USD
600, makes them attractive in price-sensitive markets such as India, where affordability
remains a key purchase consideration. Furthermore, this battery segment aligns
with regulatory standards in markets such as the EU and the UK, where a 250W
motor limit ensures legal compliance while supporting sufficient power for flat
to moderately inclined terrain. Additionally, the manageable weight of 2.5-4 kg
enhances portability, appealing to urban riders who need to carry or store
bikes, while the growing urban and eco-conscious trend supports their lower
energy consumption, aligning with sustainability goals in cities like Delhi.
Also, this range pairs well with standard 250-350W motors, providing a
versatile option that meets market standards without exceeding regulatory
thresholds, further boosting their popularity.
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Mid-drive motors to be fastest-growing motor type segment
during forecast period.
Mid-drive motors are emerging as the fastest-growing segment
of the global e-bike market, driven by their superior power efficiency,
performance capabilities, and alignment with premium consumer preferences.
Unlike hub motors, which power the wheel directly, mid-drive motors are
integrated into the bike’s drivetrain at the crank, allowing them to use the
chain and gears to deliver power more effectively across varying terrains. This
design offers a smoother, more natural pedaling experience and significantly
higher torque, often ranging from 80 to 120 Nm compared to the 40–60 Nm typical
of hub motors. These performance advantages make mid-drive motors ideal for
mountain, trekking, gravel, and cargo e-bikes, especially in demanding riding
environments such as hills, rough terrain, and heavy payloads.
North America to be fastest-growing e-bike market during
forecast period.
North America is experiencing significant growth, fueled by
supportive government policies, evolving urban mobility trends, and ongoing
technological advancements. E-bikes are increasingly viewed as a sustainable
and cost-efficient mode of transportation, particularly in densely populated
urban areas. Various federal, state, and municipal programs have been
implemented to promote adoption through financial incentives, including tax
credits, rebates, and public lending schemes. For instance, cities such as Madison
(WI) and Chapel Hill (NC) have introduced e-bike lending libraries, while
states like California and Colorado offer up to USD 1,000 in rebates for e-bike
purchases. In Canada, the expansion of cycling infrastructure and increasing
environmental awareness are boosting demand for e-bikes, particularly among
urban commuters and first-time users. Additionally, regulatory frameworks in
both countries, such as e-bikes, are limited to 750W and 20 mph (32 km/h),
making them accessible and street-legal without additional licensing.
The E-bike Market is dominated by a few major players that
have a wide regional presence. The major players in the E-bike Market are Pon.
Bike (Netherlands), Accell Group N.V. (Netherlands), Giant Manufacturing Co.,
Ltd. (Taiwan), Yadea Group Holdings, Ltd. (China), Merida Bicycle (Taiwan).
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