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August 2025
The electric bicycle market is expected to increase from USD 38.80 billion in 2025 to USD 92.46 billion by 2034, growing at a CAGR of 10.13% throughout the forecast period from 2025 to 2034. The increasing demand for sustainable transportation solutions in developed nations coupled with rising consumer awareness regarding the benefits of bicycles is playing a prominent role in shaping the industrial landscape.
Moreover, numerous government initiatives aimed at providing incentives to adopt EVs along with rising development in the battery manufacturing sector has driven the market expansion. The popularity of V2X (vehicle-to-everything) technology is expected to create ample growth opportunities for the market players in the upcoming days to come.
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The electric bicycle market is a crucial branch of the automotive industry. This industry deals in development and distribution of electric bicycles around the world. There are various types of electric bicycles developed in this sector comprising of pedelacs, pedal assist cycles, power on demand cycles and some others. These bicycles are powered by different types of batteries consisting of lead acid batteries, li-ion batteries, nickel metal hydride batteries and some others. It is available in a suitable distribution channel comprising of OEMs and aftermarket. This market is expected to rise significantly with the growth of the EV sector in different parts of the globe.
The major trends in this market consists of partnerships, business expansions and rapid investment in the battery industry.
The pedal assist/ pedelecs segment dominated the market. The increasing demand for pedelecs among youths has boosted the market expansion. Additionally, technological advancements in pedelecs is expected to boost the growth of the electric bicycle market.
The power on demand segment is expected to expand with a considerable CAGR during the forecast period. The growing demand for long-range power on demand cycles in isolated areas has driven the market growth. Also, numerous benefits associated with these cycles is expected to propel the growth of the electric bicycle market.
The sealed lead acid battery segment held the largest share of the market. The rising demand for affordable bicycle batteries has increased the demand for lead acid batteries, thereby driving the market expansion. Additionally, numerous benefits of these batteries including high power output, low cost, good performance and some others is expected to propel the growth of the electric bicycle market.
The li-ion battery segment is expected to rise with a robust CAGR during the forecast period. The growing demand for high-performance bicycle batteries has boosted the market expansion. Also, numerous advantages of these batteries including long cycle life, high energy density, fast charging times, low maintenance and some others is expected to boost the growth of the electric bicycle market.
The hub motor segment led the market. The increasing use of hub motors in electric bicycles to deliver superior power in terrains has boosted the market expansion. Also, numerous advantages of these motors including simpler installation and maintenance, potentially lower cost, design flexibility and some others is expected to foster the growth of the electric bicycle market.
The mid drive electric segment is expected to expand with a notable CAGR during the forecast period. The growing use of mid drive electric motors to synchronize the pedaling effort and the motor speed in bicycles has driven the market expansion. Additionally, numerous benefits of these motors such as high efficiency, superior torque, balanced weight and some others is expected to drive the growth of the electric bicycle market.
Asia Pacific dominated the electric bicycle market. The increasing demand for eco-friendly vehicles in numerous countries such as India, Japan, China, South Korea and some others has boosted the market expansion. Additionally, numerous government initiatives aimed at enhancing awareness about EVs coupled with rise in number of EV startups is playing a vital role in shaping the industrial landscape. Moreover, the presence of various market players such as Merida Industry, Giant Manufacturing Co. Ltd., Hero cycles and some others is expected to foster the growth of the electric bicycle market in this region.
North America is expected to rise with the fastest CAGR during the forecast period. The growing investment by cycle manufacturing companies for developing high-quality electric bicycles has boosted the market expansion. Also, technological advancements in the cycle manufacturing sector coupled with rapid urbanization in the U.S. and Canada is shaping the industry in a positive direction. Moreover, the presence of several market players such as Easy Motion, Moustache Bikes Bike, NYCeWheels, Aventon and some others is expected to boost the growth of the electric bicycle market in this region.
The electric bicycle market is a rapidly developing industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Giant Manufacturing Co. Ltd. (Taiwan), Derby Cycle, Easy Motion (USA), Accell Group N.V. (Netherlands), Yamaha Motor Corporation (Japan), Merida Industry Co. Ltd. (China), Moustache Bikes Bike (US), NYCeWheels and some others. These companies are constantly engaged in developing electric bicycles and adopting numerous strategies such as launches, partnerships, business expansions, joint ventures, acquisitions, collaborations and some others to maintain their dominance in this industry.
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August 2025
August 2025
August 2025
August 2025
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