The global EBike market is expected to grow from USD 48.72 billion in 2024 to USD 71.48 billion by 2030 at a CAGR of 6.6%.
The electric bicycle market is driven by government subsidies, expanding micro-mobility services, advancements in lithium-ion battery technology, and improved infrastructure for e-bikes. However, the market has faced challenges recently due to supply chain disruptions, global economic tensions, reduced consumer spending, and overstocked inventories with manufacturers and suppliers. Additionally, In Europe, frequent disruptions in electricity and fuel supplies have delayed factory operations, impacting e-bike exports. North American and European ebike sales declined by 2.8% and 3.7% in 2024 compared to 2023. Despite a decline in s-pedelec and hub motor-powered ebike sales in 2023, the market is expected to regain momentum, driven by rising demand for sustainable transportation.
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Growing demand for electric mountain bikes (e-MTB) at a global level
e-MTB has gained rapid momentum over the last few years in demand compared to other ebike types. According to the MarketsandMarkets analysis, mountain ebikes accounted for more than 1/4th of the total e-bike market in 2024 due to rising demands from recreational activities and growing health concerns. Mid-motor systems are predominantly used in mountain bikes, mainly in developed countries of Europe and North America, owing to their capability to deliver higher torque, extended range, and superior performance on steep inclines. These mid-drive motor e-MTBs can generate up to 600-1000 W of power and torque of 40-70 NM, which is suitable for rugged terrains. Europe is the largest market for mountain e-bikes, owing to its extensive trail networks, strong consumer demand for outdoor recreation, and supportive regulations promoting e-mobility. The demand for mid-drive motors > 650W holds a larger share due to their mountain bike usage. According to Eurobike, almost every third e-Bike sold in Germany is an e-mountain bike. With major eBike manufacturers such as Giant Manufacturing Co. Ltd, Kalkhoff Werke GmbH, Trek, and Riese & Müller, the regional demand for mountain e-bikes has been sufficient.
On the other hand, mountain biking is a renowned off-road sport gaining popularity in North America. Crossroad biking is also notable in this region due to the rising number of participants from all genders and ages entering this sport. Many cyclist organizations, such as League of America Wheelman, IMBA, and Bike Centennial, can encourage more individuals to join this sport. Thus, with an increased focus on eco-friendly short-distance versatile options and a rising inclination towards adventure and fitness activities, the market for mountain bikes is likely to become popular by the forecast period.
The hub motor segment is projected to be the largest e-bike market.
Hub drive ebikes are well-suited for urban and city commuting owing to their advantages such as comparatively fewer moving parts, lower production cost, and less maintenance, and deliver consistent power on flat terrain. They are also quieter than mid-drive motors. For instance, Bafang Electric (Suzhou) Co., Ltd. (China) has created the HR-Series, which stands out for its high efficiency. These drive systems have an output torque of up to 45Nm at 250W-take care of the riders on more extended tours and with an excellent battery economy. However, some manufacturers are shifting towards mid-drive motors since they are much.
Asia Oceania is the largest market for hub motors, as the region has a higher share of cost-effective ebikes. These hub motors are less expensive, leading to adoption in a budget-conscious market. China and Taiwan are home to several eBike manufacturers that continue to have more than 70% of ebikes exported to Europe, North America, and other markets. Due to this, hub motors also find significant installation bases in these markets. However, with advancements in mid-motor drive technology, some global OEMs have started offering these models, leading to rapid growth in developed countries. While mid-motor drives provide several advantages, such as smaller, lighter, and easier integration within the bike frame, the cost-effectiveness of hub motors and the largest manufacturing bases in China and the Taiwanese market would continue to dominate hub motors until the projection years.
Asia Oceania is projected to be the largest ebike market.
Asia Oceania is the largest e-bike market in terms of production and sales, with China being the most significant contributor to the Asian and global markets. The city/urban segment is expected to dominate the ebike market in this region, while Cargo e-bikes are projected to be the fastest-growing segment. There is a rise in demand for E-Cargo bikes due to their practicality and efficiency in urban environments. Taiwan has also emerged as another nation in the manufacturing and global export of ebikes. This prominence has been amplified by Europe’s anti-dumping policies and the trade tensions between the US and China. However, Taiwan’s ebike market faced a downturn due to oversupply following the pandemic-driven boom. Rising prices, safety concerns, and declining global demand sharply dropped exports, with Taiwanese ebike exports falling 47% in 2024. Taiwan exported 305,000 units from January to October 2024, down 50% from the same period in 2023. Electric bicycle exports to the European Union totaled 159,000 units, down 56.8%, while exports to the US were 84,000 units, down 31.73%. North American and European ebike sales have declined due to which exports from Asian countries are reduced. However, the Asia-Oceania market is expected to grow during the forecast period.
Major players in the Asia-Pacific 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).
Key Players Strategies
- In February 2025, Pedego partnered with Bulls Bikes USA to offer Bosch-powered e-bikes through its U.S. dealer network, expanding its premium e-bike selection.
- In January 2025, Pedego partnered with Vvolt, introducing its e-bikes to Pedego’s dealer network for the first time. This collaboration expands customer choices and strengthens both brands.
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