E-bike Statistics: The Key Stats Driving the Growth of the E-Bike Market

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. 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

1. A Quick Spin Through the e-Bike Markets
   1. Fast Facts
   2. Global Overview
2. Regional Rundown: The e-Bike Market Race Across the Globe
   1. Europe
   2. United States
   3. Asia-Pacific
3. Who’s Riding e-Bikes?
   1. Demographics of e-Bike Riders
   2. Reasons for Riding e-Bikes
   3. Most Preferred e-Bike Features
4. City Living: e-bikes in Urban Mobility
   1. Urban Commuting
   2. Shared Micro-mobility
   3. Government regulations and incentives for e-bike users
5. Green Wheels: The Environmental Impact of e-bikes
6. Demand Shifts: Economic Impact of e-bikes
7. The Next Lap: What’s in Store for the Future of e-bike Commuting
8. 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)
• Projected e-Bike Market Size by 2029: US$ 51.78B (2024)
• Age group most likely to use an e-bike: 25–34-year-olds
• Number of e-bike units worldwide: > 36.5 million
• Projected number of e-bike units by 2030: ~77.3 million
• Largest e-bike market share holder: China
• Average e-bike price in Europe: €2,350 euros

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.

Total e-bike sales almost tripled

Annual sales (million units) in North America and Europe.

• 2.5

• 3.3

• 3.9

• 5.3

• 6.4

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

  • US$ 19.32 billion (Europe)
  • US$ 2.23 billion (North America)
  • US$ 13.86 billion (Asia)

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.
• 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.
• An estimated 2.1 million bikes were sold in Germany in 2023, putting its total e-bike count in the country at 11 million.
• 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.
• 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.

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 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.
• 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 2031.

Asia-Pacific

• In 2023, China had the largest value share of the global e-bike market at 31.89%.
• 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.
• 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.

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.

Demographics of e-Bike Users

• In Europe, 25 - to 34-year-olds are more likely to buy or use an e-bike.

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.

Most Preferred e-Bike Features

• Globally, an average of 79.35% of e-bikes used are pedal-assisted types. Less popular among e-bike users are throttle-assisted and speed pedelec bikes.

• Almost all e-bike users (98.49%) prefer using lithium-ion batteries for their smaller and lightweight sizes and quick charging capabilities.

City Living: e-Bikes in Urban Mobility

E-bikes provide a greener, more efficient alternative to traditional transport, particularly in cities.

Urban commuting

• The largest portion (76.86%) of the total market value for e-bikes comes from the City/Urban segment.

Shared micro-mobility

• Shared micro-mobility ridership in the US and Canada continues to increase at a steady rate.

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.

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.

• Manufacturing an e-bike leaves a substantial carbon footprint, albeit still significantly less than that of a car.

Demand Shifts: Economic Impact of e-bikes

The e-bike market also impacts the global economy.

• While sales dipped slightly from 2022 to 2023, the e-bike demand remained encouraging, prompting continued investments.

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 2029.

Racing Ahead

While there are bumps on the road, the future of e-bikes is paved with promise and potential.