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Electric Bikes Market Size Forecast: How Big Could The Market Get By 2030?
The electric bikes market size has grown rapidly in recent years. It will grow from $61.79 billion in 2025 to $69.9 billion in 2026 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to urban congestion issues, fuel price volatility, cycling infrastructure growth, lithium-ion battery adoption, recreational cycling demand.
The electric bikes market size is expected to see rapid growth in the next few years. It will grow to $109.16 billion in 2030 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to micro-mobility expansion, emission reduction policies, battery technology improvements, smart mobility integration, last-mile delivery demand. Major trends in the forecast period include rising adoption of urban e-bikes, growth of cargo e-bikes, integration of smart connectivity features, demand for lightweight frames, expansion of shared mobility programs.
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Electric Bikes Market Growth Drivers: What’s Behind The Acceleration?
An increase in fuel costs due to a supply shortage is expected to propel the growth of the electric bike market going forward. Fuel costs refer to the total expense incurred in purchasing and utilizing fuel sources to power various machines, vehicles, and equipment. Electricity prices are generally more stable than fuel prices, which can fluctuate dramatically due to various factors. This provides predictability and peace of mind for e-bike users. For instance, in October 2023, according to Eurostat, a Luxembourg-based statistical office of the European Union, average gas prices increased compared with the same period in 2022, from $9.29 per 100 kWh to $12.86 per 100 kWh in the first half of 2023. Therefore, the increase in fuel costs due to a supply shortage is driving the Electric Bikes market.
Electric Bikes Market Segmentation: How Does The Market Break Down By Category?
The electric bikes market covered in this report is segmented –
1) By Class: Class-I, Class-II, Class-III
2) By Motor Type: Mid Motor, Hub Motor
3) By Battery Type: Lead Acid, Lithium ion (Li-ion), Nickel-Metal Hydride (NiMH), Other Battery Types
4) By Application: Mountain Or Trekking, City Or Urban, Cargo, Other Applications
Subsegments:
1) By Class-I: Pedal-assist Only, Maximum Speed: 20 mph (32 km/h)
2) By Class-II: Throttle-assisted, Maximum Speed: 20 mph (32 km/h)
3) By Class-III: Pedal-assist Only, Maximum Speed: 28 mph (45 km/h)
Electric Bikes Market Trends: What’s Defining The Industry’s Next Phase?
Major companies operating in the electric bikes market are developing technological advancements, such as 12kW in-hub powertrains, to enhance performance, increase torque and acceleration, improve energy efficiency, and offer faster speeds, all while delivering a smoother and more powerful riding experience for consumers. A 12kW in-hub powertrain is a wheel-integrated motor that boosts electric bike performance with more power and efficiency. For instance, in February 2024, Kabira Mobility Pvt. Ltd., an India-based electric vehicle startup, launched two electric bikes featuring India’s first aluminum core hub motor powertrain developed with Foxconn. The second-generation KM3000 and KM4000 Mark-II models deliver 12kW power, 192nM torque, a 120 km/h top speed, and accelerate from 0-40 km/h in 2.9 seconds. These bikes have a modular battery pack offering a 201 km range, a fast 1.5kW onboard charger, advanced Showa suspension systems, dual CBS for safety, a new Projector headlamp for better night visibility, and a unique frunk for extra storage. Priced at?1,74,000 and?1,76,000, both models include a 3-year/30,000 km warranty.
Electric Bikes Market Competitive Overview And Top Companies
Major companies operating in the electric bikes market report include Panasonic Corporation, Yamaha Motor Company, Pon Holdings BV, Giant Manufacturing Co. Ltd., Pon Bicycle Holding B.V., Yadea Group Holdings Ltd., Accell Group NV, Trek Bicycle Corporation, Merida Industry Co. Ltd., Tianjin Golden Wheel Bicycle Group Co. Ltd., FRITZMEIER Systems GmbH & Co. KG, Specialized Bicycle Components Inc., Cube Bikes GmbH, Derby Cycle AG, Derby Cycle Holding GmbH, Brompton Bicycle Ltd., Beistegui Hermanos S.A., VanMoof, Koninklijke Gazelle N.V., Pedego Electric Bikes, Cannondale Bicycle Corporation, Electra Bicycle Company, BionX International Corporation, Focus Bikes GmbH, Gocycle Limited, Klever Mobility Europe GmbH, Tianjin Fuji-ta Group, Bulls Bikes GmbH, KTM Fahrrad GmbH, Cycles Lapierre S.A.S., M1-Sporttechnik GmbH & Co. KG, Orbea S. Coop. Ltda., Pivot Cycles LLC
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Electric Bikes Market Regional Breakdown: Where Is Demand Concentrated?
Asia-Pacificwas the largest region in the electric bikes market in 2025. Europe is expected to be the fastest growing region in the forecast period. The regions covered in the electric bikes market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
