E-bike Market Statistics

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E-bikes are rapidly emerging as the future of urban transportation, outpacing traditional bicycles with their efficiency and convenience. What was once a niche market for eco-conscious commuters has now become a multi-billion-dollar industry, with everyone from city dwellers to adventure seekers hopping on board. Laka, a UK-based bike insurance company, commissioned a report that offers a detailed look at the key numbers fuelling the e-bike revolution. The report gathers market insights, trends, and forecasts, providing a comprehensive snapshot of where this industry is headed.

Table of Contents

A Quick Spin Through the e-Bike Markets
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1. Fast Facts
2. Global Overview
Regional Rundown: The e-Bike Market Race Across the Globe
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1. Europe
2. United States
3. Asia-Pacific
Who’s Riding e-Bikes?
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1. Demographics of e-Bike Riders
2. Reasons for Riding e-Bikes
3. Most Preferred e-Bike Features
City Living: e-bikes in Urban Mobility
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1. Urban Commuting
2. Shared Micro-mobility
3. Government regulations and incentives for e-bike users
Green Wheels: The Environmental Impact of e-bikes
Demand Shifts: Economic Impact of e-bikes
The Next Lap: What’s in Store for the Future of e-bike Commuting
Racing Ahead

A Quick Spin Through the e-Bike Market

Before we pedal through granular data, let’s take a look at the key statistics and an overview of the e-bike industry. This section provides a bird’s-eye view of the global market and its growth.

Fast Facts

Global e-Bike Market Size: US$ 34.98B (2024)¹
Projected e-Bike Market Size by 2029: US$ 51.78B (2024)¹
Age group most likely to use an e-bike: 25–34-year-olds²
Number of e-bike units worldwide: > 36.5 million³
Projected number of e-bike units by 2030: ~77.3 million³
Largest e-bike market share holder: China¹
Average e-bike price in Europe: €2,350 euros⁴

Global Overview

From 2020 to 2021, e-bike sales in North America and Europe skyrocketed, largely propelled by social distancing protocols. To avoid crowded public transit, many people then opted to use single-person modes of transportation.⁵

Source: Deloitte

According to Statista, the estimated revenue from the e-bikes market in different regions in 2024 are:

o US$ 19.32 billion (Europe)⁶

o US$ 2.23 billion (North America)⁷

o US$ 13.86 billion (Asia)⁸

Regional Rundown: The e-Bike Market Race Across the Globe

Who’s leading the pack in the e-bike market? Here’s a rundown of which countries are embracing e-bike adoption and which ones may be lagging behind. These statistics show region- and country-specific e-bike trends.

Europe

In 2023, seven of the main EU markets for e-bikes saw a decline in sales volumes, with Italy and Switzerland suffering the highest losses, with approximately 19% drop in unit sales. However, interest in e-bikes seems to have picked up in the second quarter of 2024.⁹

Source: (Bike EU)
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During the second quarter of 2024, EU e-bike import volume doubled, with a total of 223,000 e-bike units imported into the region.¹⁰
An estimated 2.1 million bikes were sold in Germany in 2023, putting its total e-bike count in the country at 11 million.¹¹
In the Netherlands, roughly 1.2 billion euros of the total bicycle sales of 1.5 billion euros were from the sales of e-bikes.¹²
In 2024, the estimated size of the e-bike market in Europe is roughly US$ 19.36 billion and is expected to grow to approximately US$ 29.28 billion over the next five years.¹³
As of 2023, Germany holds the largest share of the e-bike market, largely driven by government norms and increased consumer interest for cleaner rides.¹³

North America

From 2018 to 2022, the number of e-bikes sold in the United States increased more than three-fold, reaching 1.1 million units sold at the end of 2022. The exceptional growth is likely due to the new demand for alternative transportation and outdoor activities during and right after the pandemic.¹⁴

Source: (Energy.gov)
‍

The e-bike market in North America is fragmented—highly competitive but without dominant players. Major companies in the race including Cannondale, Giant, and Trek occupy only approximately 11.80% of the market.³⁴
In a Data Bridge Market Research, the North America e-bike market is projected to grow at a CAGR of 11.0% from 2024 to 2031³⁵. The growth is likely to be propelled by the following factors:some text
- Incentivization of e-bike use
- Increased urbanisation
- Heightened environmental awareness
- Improved e-bike performance

Asia-Pacific

In 2023, China had the largest value share of the global e-bike market at 31.89%. This is likely due to the green policies implemented by their government, which include robust support for the use of e-bikes.¹
Within the Asia-Pacific region, China holds the largest chunk of the market (90.04%) with the most e-bike usage.¹⁵
The e-bike market in the Asia-Pacific region is forecasted to grow by 4.15% (CAGR) from US$ 11.97 billion in 2024 to US$ 14.67 billion in 2029.¹⁵
Although the e-bike market seems to be reaching its saturation point in China and Japan, demand for e-bikes is expected to grow in other countries including India, Singapore, South Korea, Thailand, and Indonesia.¹⁵
The growth in the Asia-Pacific e-bike market will be heavily driven by rapid urbanisation, increased environmental awareness, and improved e-bike infrastructure. Government initiatives that support e-bike use and the growing popularity of e-bike tours in the tourism sector will propel adoption even further.¹⁶

Who’s Riding e-Bikes?

E-bikes are attracting diverse users, from rural adventurers to city commuters. Let’s explore the demographics behind the rising popularity of these whizzers. We ride along with them to understand what drives them to use e-bikes and what their preferences are.

Demographics of e-Bike Users

In Europe, 25 - to 34-year-olds are more likely to buy or use an e-bike.²
In Europe, most e-bike owners have a high annual household income. In contrast, almost 4 in 10 e-bike owners in China have a low annual household income.¹⁷
31% of electric bike (e-bike) owners are innovators or early adopters of new products.¹⁸

Reasons for Using e-Bikes

Of the 2.2 billion bike trips taken in the United States in 2022, 52% were for social and recreational purposes. About 13% of the bike trips were from home to work and back.¹⁹

Source: Energy.gov
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Across the globe, most e-bike users are using their bikes for daily commutes within the cities and suburbs. The value share of city/urban e-bikes in each region are:some text
- 74.33% (Europe)¹³
- 81.98% (United States)²⁰
- 79.36% (Asia)¹⁵
Among the major reasons for riding e-bikes are replacing car trips, improving fitness, and riding with less effort.²¹

Source: eBicycle.com
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E-bike use around the world is expected to increase in the next few years as people consider becoming more physically active, minimising fuel costs, and opting for cleaner rides.¹
In Europe, the major reasons people are adopting the use of e-bikes include¹³some text
- Health benefits
- Environmental benefits
- Lower expenses
- Freedom from traffic jams
- Engagement in e-bike sports

Most Preferred e-Bike Features

Globally, an average of 79.35% of e-bikes used are pedal-assisted types, which allow users to cycle faster and with less physical effort. Less popular among e-bike users are throttle-assisted and speed pedelec bikes.¹

Percentage of pedal-assisted e-bike users

78.06% (Europe)¹³
79.56% (United States)²⁰
81.17% (Asia)¹⁵

In contrast to most countries, throttle-assisted e-bikes are becoming more popular in the United Kingdom. By propulsion type, it is the fastest-growing segment in the UK e-bike market with a projected CAGR of 10.73% in the next five years.²²
Almost all e-bike users (98.49%) prefer using lithium-ion batteries for their smaller and lightweight sizes and quick charging capabilities. Other battery types used in e-bikes are lead-acid and NiMH.¹

Percentage of lithium-ion battery users

99.81% (Europe)¹³
91.25% (United States)²⁰
98.69% (Asia)¹⁵

City Living: e-Bikes in Urban Mobility

E-bikes provide a greener, more efficient alternative to traditional transport, particularly in cities. As more urban residents embrace this option, they are undeniably transforming urban mobility.

Urban commuting

The largest portion (76.86%) of the total market value for e-bikes comes from the City/Urban segment. This includes urban commuting e-bikes used by students, workers, and courier companies.¹
In the United Kingdom, Norway, Netherlands, Germany, and other developed countries in Europe, many people prefer bicycle commuting if their workplaces are within 5 to 15 kilometres from their home. Their primary reasons for opting to bike is its health benefits, zero carbon emissions, fuel-efficiency, and reduced time spent in traffic.¹³
We see a similar trend in the Asia-Pacific region where an increasing number of people are commuting by bikes to their workplaces, businesses, and nearby locations.¹⁵

Shared micro-mobility

Shared micro-mobility ridership in the US and Canada continues to increase at a steady rate. This continued growth is driven largely by the increased use of e-bikes within cities.²³

In Canada, the use of dockless e-bikes more than tripled from 80,000 in 2022 to 300,000 in 2023.
The United States also saw a significant increase of almost 50% in dockless e-bike use. Compared to 4.5M e-bike trips in 2022, the country registered an estimated 6.7M e-bike trips in 2023.

The higher cost of using an e-bike may be a speed bump in the wide adoption of shared e-bikes. some text
- In the US, the average cost of a one-way trip on an e-bike is $7.00—almost double the $3.85 average cost for a one-way pedal bike trip.
- For commuters using shared bikes, e-bike use amounts to $14.00 per day, which is not an affordable option for most commuters.²³

E-bike incentives

Colorado has implemented a statewide e-bike rebate to ease access to this mode of transport, especially for low to moderate-income residents. E-bike purchases for personal use may be eligible for an e-bike tax credit of $450²⁴. On top of this, they may also be able to get a rebate between $250 to $1,100²⁵.
Colorado isn’t the only state incentivising the use of e-bikes. There are more than 100 cities across the United States with similar programs for rebates and tax credits.²⁶
In the United Kingdom, the government has long rolled out initiatives to encourage e-bike use, one of which is the Cycle-to-Work scheme. Offering employees 25% to 48% savings on new bike purchases, it continues to provide more accessible and affordable options to purchasing e-bikes.³⁶

Green Wheels: The Environmental Impact of e-Bikes

One of the most popular reasons why people ride e-bikes is their positive impact on the environment. The question is, how significant is their impact in reducing emissions and pollution? How does their carbon footprint compare with other modes of transport? Here’s what the numbers have to say:

Manufacturing an e-bike leaves a substantial carbon footprint, albeit still significantly less than that of a car. It is estimated that one e-bike can create 134kg to 165kg of carbon dioxide emission.²⁷
Although the manufacturing process still impacts the environment, the use of e-bikes does not require petrol or diesel, which means zero carbon emissions are released.²⁸
The energy consumption of an e-bike has an average CO2e value of 3.28 g/mile, which is considerably lower than the 240g / mile emission of a small car.²⁷

Studies on the use of cargo e-bikes reveal that these electric vehicles are twice as efficient to operate and have 98% lower carbon emissions compared to cargo vans running on diesel.²⁹

Demand Shifts: Economic Impact of e-bikes

The e-bike market also impacts the global economy. Manufacturers are driving innovation and job creation to retail brands jostling for market share. Here, we meet the key players holding their ground in this competitive space and uncover what shifts demand for this alternative transport.

While sales dipped slightly from 2022 to 2023, the e-bike demand remained encouraging, prompting continued investments in new factories and warehouses in EU countries. Across the region, more than EUR 1.9 million were invested to increase e-bike production capacity in 2023.³⁰
In 2023, the bicycle and e-bike industry created an estimated 170,000 jobs in direct and indirect manufacturing of parts and accessories.³¹
Germany produced 1.6 million e-bike units in German-owned facilities in 2023. The country is keeping production levels high to meet the increasing consumer demand for e-bikes.³²
Taiwan, Vietnam, and China are the leading suppliers of e-bikes to the EU. In 2023 alone, the EU imported over 40 million e-bikes from Taiwan.³³
According to Mordor Intelligence, the major players in the e-bike industry are¹:some text
- Aima Technology Group Co. Ltd
- Giant Manufacturing Co. Ltd
- TAILING ELECTRIC VEHICLE CO., LTD
- Trek Bicycle Corporation
- Yadea Group Holdings Ltd
In Europe, five companies dominate 44.88% of the e-bike market in the region¹³. Leading the race in the competitive market are:some text
- Giant Manufacturing Co. Ltd.
- Kalkhoff Werke GmbH
- Riese & Müller
- Trek Bicycle Corporation
- Yamaha Bicycles

The Next Lap: What’s in Store for the Future of e-bike Commuting

The global e-bike market is expected to grow from USD 34.98 billion in 2024 to USD 51.78 billion by 2029¹. As the e-bike market accelerates forward, it is clear that this mode of transport is more than just a trend—it’s the future of greener mobility. The consistent rise in adoption across various demographics and regions reflects a broader shift towards sustainable, efficient, and health-conscious transportation solutions.

With ongoing advancements in technology, supportive government policies, and growing infrastructure, e-bikes are set to continue their impressive growth trajectory. As we ride into the future, e-bikes are not just changing how we move—they are shaping a greener, more connected world.

Racing Ahead

While there are bumps on the road, the future of e-bikes is paved with promise and potential. As cities, government agencies, private sectors, and communities continue to collaborate, solutions will emerge to overcome existing challenges and build the necessary infrastructure to support e-bike use. The consistent efforts to enhance cycling infrastructure, promote sustainable transportation options, and innovate within the industry are all contributing to a more promising future for e-bikes.