Global Electric Bikes Market - Growth, Trends, and Forecast (Outlook to 2028)

The global issues such as environmental protection, health, energy saving, carbon reduction, aging trends in sports and leisure, and the different market demands in Europe, America, and Asia are considered the key drivers to the global electric bike (e-bike) market.

An e bike, also called an electric bicycle, is integrated with an electric motor to assist propulsion. The demand for e-bikes increased rapidly at the beginning of the pandemic and has shown little sign of abating since. In the beginning, with gyms being closed and the outdoors being the only place the majority of people could go and exercise, e-bikes suddenly became a desirable prospect for many people, predominantly in North America and Europe.

E-bikes are ridden further by an average trip distance of two miles compared to 1.2 miles by pedal bikes. As a result, North Americans gained almost 1.8 million hours of additional physical activity from e-bikes. Compared to auto trips, e-bike trips reduce GHG emissions by 97%.

At least 224 cities in North America have shared electric scooters or bike-share systems. North Americans have access to an estimated 169 thousand shared micro-mobility vehicles in 2020. The number of bikes increased during 2020, and in particular, the number of e-bikes increased from 12 thousand in 2019 to 23 thousand in 2020. 

Cycling is at the top of the political agenda across Europe. Investment in cycling infrastructure is the most significant long-term growth driver of the cycling business after electrification. Bicycles in general and e-bikes, in particular, are increasingly considered an essential part of the solution to traffic congestion in cities, safer city transport, CO2 reduction, and healthier lifestyles. On top of this, many governments are now encouraging the use of e-bikes by offering subsidies or fiscal stimulation to buy bicycles. 

Restraints to Electric Bike Market Growth

• Increasing tariffs
• Supply chain disruptions
• Increasing shipping cost
• High initial cost relative to traditional bicycle
• Lack of cycling infrastructure

New developments such as the use of tabless lithium ion battery (battery size remains the same, but the charge density is enhanced), new manufacturing techniques such as 3d printed frames can further reduce the cost and speed up the production process to meet the rising demand.

The COVID-19 pandemic has only accelerated the expansion of electric two wheeler market, as it has forced governments, companies, and people to reflect on how we live, work, and move. So far, 34 European cities have spent more than EUR 1 billion on cycling infrastructure across Europe since the outbreak of the COVID-19 pandemic

Opportunities in Electric Bike Marketplace

Safety, or rather a lack of safety, is one of the reasons some people refuse to cycle. UK announced in 2020 that it is looking to invest around EUR 2 billion in cycling infrastructure, which will improve safety and propel e bike adoption. These initiatives offer vast opportunities for e bike manufacturers to explore the European e bikes market.

Similarly, in USA, the E-BIKE Act, which proposes a 30% tax credit for e bike purchases, with a potential tax credit available of up to USD 1,500, is anticipated to increase the e bike sales which also offers a great opportunity for the e bike manufacturers to expand their business. 

Blackridge Research's Global Electric Bikes Market report provides insights into the current global and regional market demand scenario and its outlook.

The study offers a detailed analysis of various factors instrumental in affecting the Global E Bikes Market's growth opportunities. The study also comprehensively analyses the electric bikes market by segmenting it based on geography (North America, Europe, Asia-Pacific, Rest of the World) and by Type of e bike based on propulsion type (Class 1, Class 2 and Class 3).

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the global electric bike market, critical commercial developments, trends, regions, and segments poised for the fastest-growth, competitive landscape.

Further, global e bike market size, demand forecast, growth rates, and trade (imports and exports) will also be provided in the report.