The EBike Market is projected to reach $71.5 billion by 2030, driven by the rising popularity of eco-friendly transportation solutions and advancements in battery technology. With increasing urbanization and a focus on reducing carbon emissions, eBikes have become a preferred alternative to traditional vehicles for short commutes. The integration of lightweight materials, improved motor efficiency, and extended battery life has enhanced eBike functionality, appealing to a broad consumer base from daily commuters to recreational riders. As governments worldwide support sustainable urban mobility initiatives, eBikes are capturing a growing share of the transportation market, especially in regions like Europe and North America.
Asia-Pacific is expected to maintain a dominant EBike Market Share, fueled by high demand in countries such as China and Japan, where eBikes are widely adopted due to congested urban areas and government support. In Europe, market growth is driven by incentives for electric mobility and investment in cycling infrastructure, encouraging a shift from traditional bicycles to electric ones. North America is also witnessing rapid adoption as awareness of sustainable and cost-effective commuting options rises. The diverse consumer interest in eBikes for fitness, commuting, and leisure purposes is anticipated to drive sustained growth in the global eBike market over the coming years.
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The trend toward connected e-bikes
Connected eBikes are intelligent and omniscient bikes capable of communicating critical data on their condition and use. In some cases, connected bikes can also receive information and commands remotely. Connected E-Bike systems allow both data gathering and data mining. Bosch’s SmartphoneHub can connect electric Bikes to a smartphone and support ebike riders before and after their journey. The Lock premium function offered by Bosch transforms the Kiox-connected onboard computer into the key to greater security. This feature provides more biking security and makes the pedelec less attractive to thieves. Intelligent onboard computers — such as the Nyon from Bosch — determine the pedaling force and frequency during the journey and use this information to calculate the cyclist’s performance and energy consumption.
Urban Arrow (The Netherlands) partnered with Comodule (Estonia). It launched a cargo bike equipped with Comodule’s connectivity solution, offering advanced security features like location tracking, a digital lock, and activated movement alerts. Riders can conveniently access these features through the Urban Arrow app, ensuring constant connectivity with their bike. Alongside the security functions, the app provides essential information such as the bike’s battery status, range, and ride data.
North American ebike market is projected to grow at fastest rate during the forecast year 2024-2030
North America is the fastest-growing Electric Bikes (ebike) market. The mountain and city ebikes are popular in North America. City E-Bikes are expected to account for the largest market share due to the increased adoption of electric bikes for daily commuting, recreation, and fitness activities. Cargo E-Bikes are expected to grow at the fastest CAGR due to the increased adoption of electric bikes for transporting goods from one place to another, as well as traffic congestion and rising fuel prices in North American cities. Cargo Elecctric Bikes are gaining popularity among consumers due to their robust nature of the operation. The growth of the e-commerce industry and food delivery at large propels last-mile delivery even further, adding to the demand for cargo eBikes. These zero-emission cargo bikes efficiently navigate traffic jams and require less parking space than traditional delivery vehicles. This goes hand in glove with the growing environmental concern and government initiatives toward sustainable transportation. The government is also introducing a 1-year pilot project that enables a rebate of up to USD 1,700 for business owners to purchase cargo eBikes. To reduce emissions, governments in North America are offering incentives to buy cargo E-Bikes. These factors would increase the demand for E-Bikes in North America during the forecast period.
Key Market Players:
Major players operating in the Asia Oceania e-bike market are Giant Manufacturing Co. Ltd (Taiwan), Hero Lectro (India), TAV Systems (Australia), Yamaha Motor Company (Japan), Merida Industry Co. (Taiwan), and Emotorad (India).
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