Global E-Bikes Market Size 2021

Global e bikes

1. Overview

E-bikes are simply traditional bicycles. Based on region, in order to acquire momentum faster and reach speeds of up to 20-30 miles per hour, rechargeable batteries and motors have been outfitted in these bicycles. It can be categorized according to their functionality such as mountain bikes, road bikes, hybrid bikes, folding bikes, and utility bikes, their functionality and according to design, E-bikes can be classified as Pedal Assist/Pedelec (Class 1), Throttle (Class 2) and Speed Pedelec (Class 3).

1.1. Largest Market for E-bikes

As an official technology objective, E-bikes development was established by Mainland China in 1991 and it is now the world’s biggest producer and consumer of e-bikes. Presently the country has about 700 e-bike manufacturers, with the top 10 responsible for approximately 1/2 of the total manufacturing, according to the China Bicycle Association (CBA). Despite the fact that in adopting this technology, Europe and North America were late, and in recent years their markets have witnessed rapid development. The largest European markets are Belgium, the Netherlands, and Germany.

1.2. Global Market for Electric Bikes in billion US$

Navigant Consulting and Bloomberg projected that the Worldwide E-bikes market was reached at US$15.7 billion in 2016 and it is predicted that by 2025 at a CAGR1 of 5%, it grows to US$24.3 billion.

Table 1 Global Market for Electric Bikes in billion US$

1.3. Target Customer

A new sector of target customers was created by the development of E-bikes, who had previously avoided cycling due to physical limitations or due to a lack of perceived convenience. Older individuals are excellent examples, who can now handle natural barriers like slopes or headwinds more efficiently than they could with a traditional bike.

1.4. Benefits

  • When compared to traditional bikes, electric bikes can transport bigger loads. This is advantageous not just for people conducting private shopping, but also for retail and logistics organizations that seek a faster last-mile delivery option.
  • According to a report by the European Cyclists’ Federation, e-bikes are faster than cars for distances of up to 10 km, with the time difference for longer distances (up to 20 km) being marginal. Another study by Mobike, a Chinese bike-sharing company, found that 90% of the people using a combination of bikes and public transportation in New York reached destinations under 5 km (3.1 miles) faster than those who used only cars

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