Electric Bike Market - Trends Forecast Till 2028

E-Bike Market by Class (Class-I, II & III), Battery Type (Li-Ion, Li-Ion Polymer, Lead Acid), Motor Type (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Component and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-AU-EBM-616


Number of Pages: 341

Domain: Automotive

Electric Bike Market – Trends Forecast Till 2028

The Electric Bike Market is projected to reach USD 79.7 billion by 2026 from USD 47.0 billion in 2021, at a CAGR of 11.1%.

Electric bike is a bicycle with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Various kinds of globally available e-bikes range from electric bikes with a small motor to assist the pedal-power of the rider to more powerful e-bikes that produce power to completely drive the bike using throttle.

Implementation of government regulations to encourage the use of electric bikes, consumer inclination toward uses of e-bikes as an eco-friendly & efficient solution for commute, increase in fuel costs, and rise in interest in cycling as a fitness & recreational activity are some of the factors that have supported long-term expansion for Electric Bike Market.

The e-bike industry is amongst the few industries witnessing growth despite the COVID-19 pandemic. The impact of COVID-19 on the e-bike market resulted in an increase in global e-bike sales during the lockdown period. Even after the lifting of lockdowns, people are still cautious and wish to avoid public transportation and mobility sharing for commuting. The e-bike is considered to be an easy, cheap, and safer way to commute during the pandemic.

Electric Bike Market Report

Asia Pacific is anticipated to lead the e-bike market during the forecast period due to the high sales of e-bikes in the region. In terms of volume, Asia Pacific contributed about ~88% to the global electric bike market in 2020 by volume.

Electric Bike Market is segmented into class, speed, battery type, motor type, mode, components, usage, ownership and region.

On the basis of Class

  • Class-I
  • Class-II
  • Class-III                                                         

On the basis of Speed

  • up to 25 km/h
  • 25-45 km/h

On the basis of Battery Type  

  • lithium-ion
  • lithium-ion polymer
  • lead acid

On the basis of Motor Type

  • hub
  • mid

On the basis of Mode

  • pedal assist
  • throttle

On the basis of Components

  • Batteries
  • electric motors
  • frame with fork
  • wheels
  • crank gears
  • brake systems

On the basis of Usage

  • mountain/trekking
  • city/urban
  • cargo

On the basis of Ownership

  • shared
  • personal

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Electric Bike Market Primary Respondent


Key Players

  • Accell Group
  • Derby Cycle
  • Fuji-ta Bicycle Co., Ltd.
  • Giant Manufacturing Co., Ltd.
  • Jiangsu Xinri E-Vehicle Co., Ltd.
  • Mahindra & Mahindra Ltd. (GenZe)
  • Prodecotech, LLC
  • Tianjin Golden Wheel Group Co., Ltd.
  • Trek Bicycle Corporation
  • Yamaha Motor Co., Ltd.

Recent Developments

  • In October 2020, Giant Manufacturing launched the new Trance X Advanced Pro 29, a full-composite trail bike with updated Maestro rear suspension and a new flip-chip feature that allows riders to adjust frame geometry.
  • In October 2020, Pedego Electric Bikes opened a Pedego Electric Bikes store in Boca Raton, Florida, which offers a full range of e-bike sales, rentals, services, and accessories.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Electric Bike Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope


Report Feature


Market Revenue In 2021

USD 47.0 billion

Growth Rate

CAGR of 11.1% during the forecasting period, 2021-2028

Historical Data


Forecast Years


Base Year


Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

class, speed, battery type, motor type, mode, components, usage, ownership and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Accell Group, Derby Cycle, Fuji-ta Bicycle Co., Ltd., Giant Manufacturing Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Mahindra & Mahindra Ltd. (GenZe), Prodecotech, LLC, Tianjin Golden Wheel Group Co., Ltd., Trek Bicycle Corporation, and Yamaha Motor Co., Ltd.

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