During the projection period, the electric bike market share are anticipated to grow at a CAGR of 10%. The electric bike market is expected to grow from US$ 52.05 Billion in 2022 to US$ 122.1 Billion by 2032.

Key Takeaways from Electric bike Market

• With a CAGR of 3.2% over the forecast period, pedestals are predicted to be the most popular product category in the electric bike market.
• The lead-based battery type sector holds a commanding share of more than 85% in the electric bike industry.
• Battery-powered bikes are anticipated to experience a significant sales surge during the projected period, dominating the demand for electric bikes.
• Due to the high prevalence of two-wheelers, APEJ is the largest market for electric bikes. During the projected period, the electric bike market is expected to rise at a robust CAGR of 3.2% and create a US$ 6.1 Bn growth opportunity.
• Electric bike sales in the EU are projected to reach 13.1 million units by 2032, with 60% of those bikes being produced in Europe.
• The electric bike market in North America is expected to grow rapidly.

“Due to the rising consumer trend toward environmentally friendly modes of transportation, the global e-bike market is extremely opportunistic and competitive. Additionally, e-bikes are seen by manufacturers as an affordable alternative to electric automobiles. E-bike sharing services and government organization support to encourage e-bike application and acceptance will blossom industry expansion in the ensuing years. –  FMI Analyst

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It is projected that the market for electric motorcycles would rise primarily due to the numerous advantages they provide. Electric bikes are a useful, adaptable, environmentally beneficial, and stylish means of transportation. E-bikes, in the opinion of consumers, are the ideal substitute for scooters, smart cars, and public transportation.

The passage of government regulations to promote the use of electric bikes and consumer desire for using e-bikes as an eco-friendly and effective commute option are two reasons why the market for electric bikes is predicted to grow.

Customers are more inclined to use public transport alternatives that emit little to no carbon dioxide. According to predictions, there will be a wide range of possible opportunities for market participants as a result of the rising demand for electric bikes in the transportation sector in both developed and developing nations. E-bikes' reduced size, longer range on a single charge, and positive effects on health can also help to reduce traffic congestion. Over the course of the projection period, these factors are anticipated to raise the sales of electric bikes.

As the adoption of lighter, more durable e-bikes grows, important players are creating lucrative revenue streams. Electric bike producers are also increasing their selection of cars with diverse mileage and features to meet the various needs of users on their daily urban commute. Additionally, it is anticipated that an increase in fuel prices and a surge in interest in cycling as a sport and pastime will boost sales of electric bikes.

Competition Landscape in the Electric bike Market 

The leading competitors in the global electric bike market strive intensely with one another as a result of significant investments made to enhance the performance of the electric bikes and make them more comfortable to use. Positioning e-bikes as the clientele’s preferred substitute for private cars and other vehicles is the main goal of these expenditures. Some of the players have made considerable investments to enhance the performance of the e-bike drive unit.

Additionally, it is anticipated that the manufacturers in the electric bike market are likely to grow through strategic initiatives like new launches, expansion, partnerships, and acquisitions.

The top competitors in the electric bike market are Piaggio & C. SpA, Terra Motors Corp., Bayerische Motoren Werke AG, Jiangsu Xinri E-Vehicle Co. Ltd., Giant Manufacturing Co Ltd., Emotion Bikes USA, Pedego Electric Bikes, Volt, Energica Motor Company S.p.A., Zero Motorcycles, Inc., Mahindra Genze, Derby Cycle and Accell Group ECCITY Motocycles, Hero Electric Vehicles Private Limited, Gogoro Inc., GOVECS GmbH, Vmoto Limited, Honda Motor Co. Ltd.

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Recent Developments in the Electric bike Market:

• In October 2021, Pon.Bike made the acquisition of the Dorel Sports division of Dorel Industries as part of a strategy to build a portfolio of high-end e-bikes that would span all e-bike segment categories.
• In July 2021, Pedego opened a brand-new location in Bethesda, Maryland, offering a wide range of e-bike sales, rentals, services, and accessories.
• In April 2022, Trek Bicycle Corporation purchased David’s World Cycle. Trek Bicycle Corporation purchased 21 retail chains to assist its expansion strategy and grow its dealer network.

Key Segments Covered in the Electric Bike Market Report

By Product type:

• Electric Scooter
• Electric Motorcycles
• Pedelec

By Battery type:

• Li-Ion
• NiMH
• Lead-based

By Technology:

• Plug-In
• Battery

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa (MEA)