North America Electric Bike (E-Bike) Market - Industry Trends and Forecast to 2031

North America Electric Bike (E-Bike) Market, By Battery Type (Lithium-Ion, Lithium-Ion Polymer, Nickel Metal Hydride, Lead Acid, Sealed Lead Acid and Others), Hub Motor Location (Mid Drive Hub Motor, Rear Hub Motor and Front Hub Motor), Mode (Pedal Assist and Throttle), Battery Power (Under 750 W and Over 750 W), Class (Class I (Pedal Assist/Pedelec), Class II (Throttle) and Class III (Speed Pedelec)), Usage (City/Urban, Cruise, Mountain/Trekking Bikes, Racing, Cargo and Others) - Industry Trends and Forecast to 2031.

North America Electric Bike (E-Bike) Market Analysis and Size

In the realm of recreational cycling, the electric bike (e-bike) market serves as a gateway to adventure and exploration. E-bikes offer enthusiasts the opportunity to traverse diverse landscapes and conquer challenging terrains with ease, extending the range and enjoyment of outdoor excursions. Whether navigating rugged trails or scenic routes, riders can experience the thrill of cycling while minimizing physical exertion, making e-bikes particularly appealing to those seeking leisurely rides without compromising on adventure. With features such as pedal-assist and variable power modes, e-bikes cater to a wide spectrum of recreational cyclists, from beginners to experienced riders, enhancing their outdoor experiences and fostering a deeper connection with nature.

North America electric bike (E-Bike) market size was valued at USD 3.24 billion in 2023 and is projected to reach USD 7.47 billion by 2031, with a CAGR of 11.00% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

An electric bike, or e-bike, is a bicycle equipped with an electric motor to assist with propulsion. Riders can pedal as usual or rely on the motor for added power, making cycling easier and more accessible. E-bikes offer a convenient and eco-friendly alternative to traditional bicycles, especially for commuting or leisure riding over varied terrain.

Electric Bike (E-Bike) Market Dynamics

Drivers

• High Demand of E-Bikes due to Rising Environmental Awareness

Consumers are increasingly prioritizing sustainable transportation solutions to mitigate environmental impact. E-bikes offer a greener alternative to traditional vehicles, emitting zero tailpipe emissions and reducing reliance on fossil fuels. With growing concerns about air pollution and climate change, individuals are drawn to e-bikes for their eco-friendly attributes, contributing to cleaner air and a healthier planet. Government initiatives promoting electric mobility and reducing carbon emissions further amplify the appeal of e-bikes, incentivizing adoption and fostering a more sustainable transportation ecosystem. As environmental consciousness continues to rise, e-bikes are poised to play a pivotal role in shaping a more sustainable future for urban mobility.

For instance, in 2023, Germany experienced a pivotal shift in its bicycle market as e-bikes outsold traditional bicycles, with 2.1 million units sold, capturing 53% of total sales. This surge underscores the growing preference for eco-friendly and efficient transportation solutions amidst rising environmental awareness. The resilience of the German bicycle industry, generating €7.06 billion in sales, reflects a sustained demand for cycling, with specialist retailers and 'cycle to work' leasing schemes playing integral roles in promoting cycling as a vital aspect of everyday life.

• Increased Technological Advancements Promotes Improved User Experience of E-Bikes

Innovations in battery technology, such as the development of lightweight and long-lasting lithium-ion batteries, extend the range and lifespan of e-bikes, addressing concerns about range anxiety and maintenance. Moreover, advancements in motor design and integration enable e-bikes to deliver smoother rides and more responsive assistance, enhancing overall e-bike performance and comfort for users. Integration of smart features such as GPS navigation, bluetooth connectivity, and mobile app compatibility further elevate the appeal of e-bikes, catering to tech-savvy consumers seeking connected and convenient transportation solutions. As technological advancements continue to evolve, e-bike manufacturers can differentiate their products, attract new customers, and drive market growth.

Opportunities

• Government Incentives Promotes Increased Adoption of Electric Bikes

Subsidies, tax incentives, and rebates provided by governments encourage consumers to purchase e-bikes by making them more affordable. Supportive policies such as infrastructure development for cycling lanes and parking facilities promote e-bike usage, enhancing safety and convenience for riders. Furthermore, regulations mandating emission reductions and promoting sustainable transportation solutions propel the adoption of e-bikes as an eco-friendly alternative to traditional vehicles. Overall, government initiatives create a favorable environment for e-bike manufacturers, fostering market growth and accelerating the transition towards sustainable mobility.

For instance, in February 2024, Cowboy's ambition to attain full-year profitability aligns with the broader trend of government incentives and regulations driving the electric bike (e-bike) market. Focusing on software-integrated e-bikes, Cowboy aims to capitalize on technological advancements and evolving consumer preferences, leveraging supportive policies and increasing demand for eco-friendly transportation solutions to achieve sustainable growth and profitability.

• Increasing Demand Electric Bikes due to Growing Urbanization

As urban areas become more crowded and traffic congestion worsens, commuters seek efficient and flexible mobility solutions. E-bikes offer a convenient alternative to traditional vehicles, enabling riders to navigate through congested streets with ease and bypass traffic jams. Their compact size and agility make them well-suited for urban environments, allowing e-bike businesses to thrive by offering riders the means to maneuver through tight spaces and reach their destinations faster. E-bikes contribute to reduced pollution and noise levels in cities, aligning with urban sustainability goals and further driving their adoption among environmentally-conscious urban dwellers. This growing e-bike business sector reflects the growing demand for sustainable transportation solutions in urban areas.

Restraints/Challenges

• High E-Bike Prices Impede Growth Among Budget-Conscious Consumers

Compared to traditional bicycles, e-bikes typically come with a higher price tag due to the inclusion of electric motors, and batteries. This upfront investment can deter budget-conscious consumers from purchasing e-bikes, especially when considering other transportation alternatives. The perception of e-bikes as luxury items rather than essential modes of transportation may limit their appeal to a wider demographic.

• Limited Infrastructure Limits the Adoption of Electric Bikes

E-bike users may face challenges in charging their bikes conveniently due to limited infrastructure, such as inadequate charging stations and a lack of dedicated bike lanes. Moreover, the absence of dedicated bike lanes can make e-bike commuting less appealing due to safety concerns and increased interaction with motor vehicles.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In November 2022, Cannondale announced a new global organizational structure aimed at eliminating regional General Managers and leveraging Pon.Bike to bolster operational efficiency and drive growth across markets. This move signifies a strategic shift in the company's management approach
• In September 2022, Aventon upgraded all its electric bicycles with enhanced features such as improved frames, integrated LED lighting, and full-color displays with Bluetooth connectivity. The introduction of the Aventon Level.2 commuter e-bike further enriches the Level series
• In February 2020, Specialized Bicycle Components, Inc. launched the Turbo Levo SL, a mountain e-bike boasting a lightweight design, 29-inch wheels, and a weight reduction of 9 pounds compared to other turbo e-bikes, enhancing the company's product lineup

Electric Bike (E-Bike) Market Scope

The market is segmented on the basis of battery type, hub motor location, mode, battery power, class and usage. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Battery Type

• Lithium-Ion
• Lithium-Ion Polymer
• Nickel Metal Hydride
• Lead Acid
• Sealed Lead Acid
• Others

Hub Motor Location

• Mid Drive Hub Motor
• Rear Hub Motor
• Front Hub Motor

Mode

• Pedal Assist
• Throttle

Battery Power

• Under 750 W
• Over 750 W

Class

• Class I (Pedal Assist/Pedelec)
• Class II (Throttle)
• Class III (Speed Pedelec)

Usage

• City/Urban
• Cruise
• Mountain/Trekking Bikes
• Racing, Cargo
• Others

North America Electric Bike (E-Bike) Market Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, battery type, hub motor location, mode, battery power, class and usage.

The countries covered in the market report are U.S., Canada and Mexico.

U.S. dominates the market, primarily due to the presence of key industry leaders such as Specialized Bicycle Components, Inc. and Trek Bicycle Corporation, headquartered within its borders. These companies, renowned for their innovation and quality, drive the market's growth through cutting-edge technology and consumer-centric designs. Their strong foothold in the U.S. market enables them to influence trends and set standards, contributing to the dominance of the U.S. in the region's e-bike sector.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Electric Bike (E-Bike) Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are

• Accell Group (Netherlands)
• DERBY BICYCLE (Germany)
• ITALJET SPA (Italy)
• Riese & Müller GmbH (Germany)
• M1-Sporttechnik (Germany)
• F.I.V. E. Bianchi S.p.A. (Italy)
• Kawasaki Motors Corp., U.S.A. (U.S.)
• Yadea Technology Group Co.,Ltd.(China)
• Giant Bicycles (Taiwan)
• Trek Bicycle Corporation (U.S.)
• myStromer AG (Switzerland)
• Specialized Bicycle Components, Inc. (U.S.)
• MERIDA BIKES (Taiwan)
• Pedego (U.S.)
• YAMAHA Motor Pvt. Ltd. (Japan)