NEW YORK, Jan. 17, 2023 /PRNewswire/ — In 2022, the e-bikes market had a total size of USD 40,664 million, and it is predicted to hit USD 89,736 million by 2030, progressing at a rate of 10.4% from 2022 to 2030, according to P&S Intelligence.
The growth can be credited to the reduced cost and eco-friendliness these automobiles provide for public transport, several government incentives for their adoption, rapid urbanization, rising awareness regarding health, and improving infrastructure in numerous countries.
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E-bikes are easy to charge and operate, light in weight, and less costly than gasoline two-wheelers, which makes them one of the most suitable choices for micromobility.
Bikes with Lithium-Ion Battery To Witness Fastest Sales Growth
The lithium-ion battery category is projected to grow at the highest rate, of around 13.9%, in the coming years. This can be ascribed to the higher safety, fast charging, and approximately 55% lower weight of these batteries in comparison to others, which aids in reducing the vehicle weight, lengthening the life, and bettering the output.
Pedal-Assisted Bike Sales Generate Higher Revenue
In 2022, pedal-assisted variants had the larger revenue share. The motor of these e-bikes offers additional power to enhance the speed. Moreover, such bikes are extensively used on mountains, inclines, and rough terrain for a swift ride and lesser strain on the joints, because the motor adds to the power provided by manual pedaling.
Sales of throttle-assisted variants are projected to grow with a CAGR of 13.8% in the years to come. This can be credited to the fact that they remove the requirement for physical pedaling, by transferring energy from the motor straight to the wheels.
Browse detailed report on E-Bikes Market Growth, Development and Demand Forecast Report 2030
There are several types of throttle-assisted bikes available, including thumb throttle, push-button throttle, and twist throttle.
Demand for Less-than or Equal-to-250-W Bikes To Grow Significantly
The less than or equal to 250 W category is projected to grow moderately in the future. This is due to the rising usage of electric bikes with energy output in this range in metropolises and on rough areas, such as hills, for fitness purposes.
Snowballing Urban Road Traffic Propelling E-Bike Sales
The growing populace in cities, because of the rapid urbanization, has led to a rise in the number of daily travelers. This is resulting in massive traffic congestion and roadblocks, mainly during peak hours. Countries are, therefore, looking for alternatives to fight this problem.
E-bikes are a solution as they need less space on the roads and for parking. Moreover, they can snake their way through dense traffic, which would help professionals save significant time that is wasted in traffic jams.
North America a Potential Market for E-Bike Manufacturers
North America is projected to grow with a CAGR of 14.6% in the years to come. This can be credited to the increasing preference for such two-wheelers for short-distance commuting and off-road purposes, including mountain biking.
Global E-Bike Market Report Coverage
By Ownership
Shared
Personal
By Type
Pedal-Assisted
Throttle-Assisted
By Battery Type
Lithium-Ion Battery
Lead-Acid Battery
By Power
Less than or Equal to 250 W
Above 250 W
Regional Analysis
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia-Pacific
Japan
China
India
South Korea
Australia
Latin America, Middle East, and Africa
Brazil
Mexico
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SOURCE P&S Intelligence