Delray Beach, FL, April 21, 2025 (GLOBE NEWSWIRE) — The global Electric Bike market is forecast to grow from USD 48.72 billion in 2024 to USD 71.48 billion by 2030 at a CAGR of 6.6%, as per the recent study by MarketsandMarkets™. The electric bicycle market is driven by government subsidies, expanding micro-mobility services, advancements in lithium-ion battery technology, and improved infrastructure for e-bikes. However, the market has faced challenges recently due to supply chain disruptions, global economic tensions, reduced consumer spending, and overstocked inventories with manufacturers and suppliers. Additionally, In Europe, frequent disruptions in electricity and fuel supplies have delayed factory operations, impacting e-bike exports. North American and European ebike sales declined by 2.8% and 3.7% in 2024 compared to 2023. Despite a decline in s-pedelec and hub motor-powered ebike sales in 2023, the market is expected to regain momentum, driven by rising demand for sustainable transportation.
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List of Key Players in Electric Bike Market:
- Giant Manufacturing Co. Ltd (Taiwan)
- Hero Lectro (India)
- TAV Systems (Australia)
- Yamaha Motor Company (Japan)
- Merida Industry Co. (Taiwan)
- Emotorad (India)
Drivers, Opportunities and Challenges in Electric Bike Market:
- Driver: Rising demand for micro-mobility services.
- Restraint: Regularity uncertainty and lack of dedicated infrastructure in emerging economies
- Opportunity: The trend toward connected e-bikes
- Challenge: High price of Electric Bikes (Ebikes)
Key Findings of the Study:
- Growing demand for electric mountain bikes (e-MTB).
- The Class-III segment is projected to grow at the highest rate in the ebike market.
- The hub motor segment is projected to be the largest ebike market.
- North American ebike market is projected to grow at fastest rate during the forecast year 2024-2030
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Growing demand for electric mountain bikes (e-MTB) at a global level.
e-MTB has gained rapid momentum over the last few years in demand compared to other ebike types. According to the MarketsandMarkets analysis, mountain ebikes accounted for more than 1/4th of the total e-bike market in 2024 due to rising demands from recreational activities and growing health concerns. Mid-motor systems are predominantly used in mountain bikes, mainly in developed countries of Europe and North America, owing to their capability to deliver higher torque, extended range, and superior performance on steep inclines. These mid-drive motor e-MTBs can generate up to 600-1000 W of power and torque of 40-70 NM, which is suitable for rugged terrains. Europe is the largest market for mountain e-bikes, owing to its extensive trail networks, strong consumer demand for outdoor recreation, and supportive regulations promoting e-mobility. The demand for mid-drive motors > 650W holds a larger share due to their mountain bike usage. According to Eurobike, almost every third e-Bike sold in Germany is an e-mountain bike. With major eBike manufacturers such as Giant Manufacturing …