Electric Bike Market-Statistics & Growth Dynamics by 2025

The global Electric Bike Market is estimated to grow at a CAGR of 9.01% from USD 21.1 billion in 2018 to USD 38.6 billion by 2025.

An electric bike, often known as an e-bike, is a bike that has an electric motor aligned to the pedal for propulsion. These bicycles use chargeable batteries of different capacities. Electric bikes are equipped with a mid or hub motor and can be classified on the basis of the power of the electric motor. Pedal-assist and throttle-on-demand are the different modes of electric bikes.

Growth Drivers:

• Increasing Concerns About Traffic Congestion
• Rapid Urbanization
• Government Initiatives to Reduce Emission Level
• Growing Bicycle Tourism Industry

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The Asia Pacific is estimated to be the largest growing market for electric bikes during the forecast period.

The Asia Pacific region is estimated to be the largest electric bike market in 2018 and is expected to maintain its leading position during the forecast period. The region comprises some of the fastest developing economies of the world such as China and India. China, which is the largest market in the Asia Pacific, holds about 98% market share of the region. China’s electric bikes have gained popularity in the European market due to their good quality and technological edge. Most of the Asian economies have recognized the growth potential of electric bikes and, hence, are taking several initiatives to attract major OEMs to manufacture electric bikes in their domestic markets. For instance, the Government of India announced financial support and a scheme called Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME). Under the scheme, there is a subsidy of up to INR 22,000 for electric scooters/electric bikes. Government promotions and schemes have led to an increase in sales of electric two-wheelers over the years.

The report provides detailed profiles of the following companies:

• ZF (Germany)
• Dana (US)
• GKN (UK)
• Meritor (US)
• American Axle & Manufacturing (US)
• Showa (Japan)
• Hyundai WIA (South Korea)
• JTEKT (Japan)
• Gestamp (Spain)
• IFA (Germany)

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The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.

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Class-I is the largest segment of the electric bike market

Class-I electric bikes are the most widely used electric bikes across the globe. These electric bikes are equipped with a motor that provides assistance only when the rider is pedaling and stops providing assistance when the bicycle reaches 20 mph. These electric bikes can operate on any paved surface. A class-i segment is expected to hold the largest share of the electric bike market as this e-bike category meets the e-bike laws and regulations of most of the countries.

Class-III is the fastest growing segment during the forecast period

The class III e-bike segment is expected to be the fastest-growing market during the forecast period. This class is popular among youngsters as it offers a higher speed than the other two classes i.e class-I and class-II. Also, this e-bike segment is expected to help replace cars with bikes across the globe. Class-III electric bikes, which are also called speed pedal-assisted electric bikes, are equipped with a motor that provides assistance only when the rider is pedaling and stops providing assistance when the bicycle reaches 28 mph. Operators of Class-III electric bikes must be 16 years or older and wear a helmet. Class-III electric bikes are prohibited from entering Class-I multi-use bike paths unless specifically authorized by a local ordinance.

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