In 2022, the e-bikes market had a total size of USD 40,664 million, and it is projected to hit USD 89,736 million by 2030, advancing at a rate of 10.4%, during the projection period.
The growth can be credited to the reduced cost and eco-friendliness these automobiles provide for public transport, several government incentives, rapid urbanization rate, rising awareness regarding health, and rising infrastructure in numerous countries. E-bikes are easy to charge, light in weight, easy to operate, and less costly than other gasoline two-wheelers, which makes them one of the most suitable choices for micro-mobility.
The lithium-ion battery category is projected to grow at the highest rate of around 13.9% in the coming years. This growth can be ascribed to the several abilities of these batteries, including safety, fast charging, and approximately 55% lower weight in compare other batteries, which aids in reducing the vehicle weight, long life, and better output.
In 2022, The pedal-assisted Variants had the largest revenue share. Mainly because the motor of these e-bikes aids riders in complementing the power output of the pedal, 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 surges the power output.
Throttle-assisted Variants are projected to grow with a CAGR of 13.8% in the years to come.
This can be credited to a surge in the usage of throttle-assisted e-bikes due to they remove the requirement for physical pedaling, by transferring energy from the motor straight to the wheels. There are several types of throttle-assisted bikes, including thumb throttle, push-button throttle, and twist throttle.
The less than or equal to 250 W category is projected to grow moderately in the future. This is due to electric bikes with energy output in this range being broadly used in metropolises, with on rough areas, like steps and hills, for fitness purposes.
The growing populace in cities because of rapid urbanization has led to a rise in the number of daily travelers, accordingly resulting in massive traffic congestion and roadblocks, mainly during peak hours. Countries are, therefore, looking to present alternatives to fight this problem.
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 actions, like mountain biking.