Market Size of speed pedelec e-bike Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.45 Billion |
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Market Size (2029) | USD 2.24 Billion |
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Largest Share by Application Type | City/Urban |
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CAGR (2024 - 2029) | 9.06 % |
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Largest Share by Region | Europe |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Speed Pedelec E-Bike Market Analysis
The Speed Pedelec E-Bike Market size is estimated at 1.45 billion USD in 2024, and is expected to reach 2.24 billion USD by 2029, growing at a CAGR of 9.06% during the forecast period (2024-2029).
1.45 Billion
Market Size in 2024 (USD)
2.24 Billion
Market Size in 2029 (USD)
18.57 %
CAGR (2017-2023)
9.06 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.35 %
value share, Pedal Assisted, 2023
Pedal-assisted bikes are largely used as they are fast, provide pollution-free rides, are easily affordable, can carry weight, and have cheap maintenance costs.
Largest Segment by Application Type
64.69 %
value share, City/Urban, 2023
The demand for city/urban e-bikes is increasing at a high rate in urban areas due to the rise of on-demand food delivery services, courier companies, and daily commuting to various places.
Largest Country
17.87 %
value share, Germany, 2023
The increasing population and higher use of e-bikes for various purposes such as schools, offices, courier deliveries, etc. has boosted the demand of the speed pedelec making China the largest country with speed pedelecs.
Leading Market Player
9.20 %
market share, Giant Manufacturing Co. Ltd., 2022
Strong brand awareness, a large supply chain network, and a wide product portfolio in various countries are making Giant the largest e-bike company worldwide.
Second Leading Market Player
5.50 %
market share, Yadea Group Holdings Ltd., 2022
Strong customer base, brand awareness among people, offering wide product portfolio including speed pedelecs, affordable pricing, good customer support make Yadea the second largest market player across the globe.
- Electric bicycles are rapidly becoming more popular globally, with the increasing trend of more people buying e-bikes for transportation and commuting. Previously, people used mountain bikes or trekking bikes for this purpose. However, the preference for e-bikes is growing, as they are more suited for commuting and can be more easily used in wintertime, especially in big towns. According to a recent study published in the journal of Transportation Research, Norwegian e-bike riders more than quadrupled their daily use of the bicycle for transport over six months. After buying an e-bike, riders covered 9.2 km (5.7 miles) per day on average, up from 2.1 km (1.3 miles) per day before their purchase.
- The primary driver of the market's expansion is a rise in young people's awareness of exercise and health. The market for pedelecs is expanding due to reasons like rising consumer health awareness, growing traffic congestion problems, and growing environmental consciousness. These e-bikes are practical and simple to charge, and easy to operate. Due to these factors, the demand for speed pedelec e-bikes increased in 2021 and 2022.
- Players in the e-bike industry are working to introduce cutting-edge technological innovations, including intelligent control systems, which may be used to implement automatic or semi-automatic transmission for speed pedelecs that have the best energy efficiency. The growing demand for recreational activities like off-road cycling and the demand for speed pedelecs are likely to drive the demand for above 250 W e-bikes during the forecast period.
Country Level Overview
- The global e-bike market is expected to be mainly driven by the increasing adoption of electric bikes as a daily mode of transportation globally. Additionally, the market is seeing an upsurge in the unit sales of electric bikes owing to their benefits, such as health benefits, economic mobility, and convenience in riding.
- In the APAC e-bike market, unit sales amounted to around 34.8 million in 2023. China, Japan, and Indonesia accounted for the majority of unit sales during the historical period. China accounted for over a 90% share by volume in the global electric bike market in 2022. However, the Chinese e-bike market has been witnessing growth stagnate in recent years and is almost at saturation point.
- In Europe, electric bike sales have skyrocketed in recent years, with countries including Germany, Belgium, and the Netherlands selling large numbers of electric bikes. The sales are being driven by consumers' growing preference for using electric bikes for transportation, sports, and leisure activities. Additionally, the subsidies and tax incentives programs for electric bikes in Sweden, Belgium, and France are expected to support the significant growth of the European electric bike market during the forecast period.
- In North America, the electric bike market is currently at an early growth stage as people's preference for using low-speed two-wheelers has increased only in recent years. The inclusion of more electric bikes by various bike-sharing operators as part of their fleet expansion is expected to support the sales growth of these bikes in the near future.
Speed Pedelec E-Bike Industry Segmentation
Cargo/Utility, City/Urban, Trekking are covered as segments by Application Type. Lead Acid Battery, Lithium-ion Battery, Others are covered as segments by Battery Type. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.
- Electric bicycles are rapidly becoming more popular globally, with the increasing trend of more people buying e-bikes for transportation and commuting. Previously, people used mountain bikes or trekking bikes for this purpose. However, the preference for e-bikes is growing, as they are more suited for commuting and can be more easily used in wintertime, especially in big towns. According to a recent study published in the journal of Transportation Research, Norwegian e-bike riders more than quadrupled their daily use of the bicycle for transport over six months. After buying an e-bike, riders covered 9.2 km (5.7 miles) per day on average, up from 2.1 km (1.3 miles) per day before their purchase.
- The primary driver of the market's expansion is a rise in young people's awareness of exercise and health. The market for pedelecs is expanding due to reasons like rising consumer health awareness, growing traffic congestion problems, and growing environmental consciousness. These e-bikes are practical and simple to charge, and easy to operate. Due to these factors, the demand for speed pedelec e-bikes increased in 2021 and 2022.
- Players in the e-bike industry are working to introduce cutting-edge technological innovations, including intelligent control systems, which may be used to implement automatic or semi-automatic transmission for speed pedelecs that have the best energy efficiency. The growing demand for recreational activities like off-road cycling and the demand for speed pedelecs are likely to drive the demand for above 250 W e-bikes during the forecast period.
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| Cargo/Utility | |
| City/Urban | |
| Trekking |
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| Lead Acid Battery | |
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| Others |
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Speed Pedelec E-Bike Market Size Summary
The Speed Pedelec E-Bike Market is experiencing significant growth, driven by the increasing global adoption of electric bicycles for transportation and commuting. This shift from traditional mountain and trekking bikes to e-bikes is largely due to their suitability for urban commuting and ease of use in various weather conditions. The market's expansion is further fueled by heightened awareness among young consumers about health and fitness, as well as growing concerns over traffic congestion and environmental impact. The introduction of advanced technological features, such as intelligent control systems and automatic transmission, is also contributing to the rising demand for speed pedelecs. These factors, combined with the growing popularity of recreational activities like off-road cycling, are expected to sustain the market's growth trajectory over the forecast period.
Regionally, the market is witnessing varied growth patterns. In the Asia-Pacific region, particularly in China, Japan, and Indonesia, e-bike sales have been robust, although the Chinese market is nearing saturation. Europe is experiencing a surge in e-bike sales, driven by consumer preference and supportive government policies in countries like Germany, Belgium, and the Netherlands. North America is in the early stages of growth, with increasing interest from bike-sharing operators and consumers. The COVID-19 pandemic has also played a pivotal role in accelerating e-bike adoption globally, as people sought alternative commuting methods and fitness solutions. The market remains fragmented, with key players like AIMA Technology Group, Giant Manufacturing, Merida Industry, Riese & Müller, and Yadea Group Holdings leading the charge in innovation and expansion efforts.
Speed Pedelec E-Bike Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Application Type
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1.1.1 Cargo/Utility
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1.1.2 City/Urban
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1.1.3 Trekking
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1.2 Battery Type
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1.2.1 Lead Acid Battery
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1.2.2 Lithium-ion Battery
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1.2.3 Others
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1.3 Region
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1.3.1 Africa
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1.3.1.1 By Country
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1.3.1.1.1 South Africa
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1.3.1.1.2 Rest-of-Africa
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1.3.2 Asia-Pacific
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1.3.2.1 By Country
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1.3.2.1.1 Australia
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1.3.2.1.2 China
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1.3.2.1.3 India
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1.3.2.1.4 Japan
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1.3.2.1.5 New Zealand
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1.3.2.1.6 South Korea
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1.3.2.1.7 Rest-of-APAC
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1.3.3 Europe
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1.3.3.1 By Country
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1.3.3.1.1 Austria
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1.3.3.1.2 Belgium
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1.3.3.1.3 Czech Republic
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1.3.3.1.4 Denmark
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1.3.3.1.5 Finland
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1.3.3.1.6 France
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1.3.3.1.7 Germany
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1.3.3.1.8 Italy
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1.3.3.1.9 Luxembourg
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1.3.3.1.10 Netherlands
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1.3.3.1.11 Norway
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1.3.3.1.12 Poland
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1.3.3.1.13 Spain
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1.3.3.1.14 Sweden
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1.3.3.1.15 Switzerland
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1.3.3.1.16 UK
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1.3.3.1.17 Rest-of-Europe
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1.3.4 Middle East
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1.3.4.1 By Country
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1.3.4.1.1 Saudi Arabia
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1.3.4.1.2 United Arab Emirates
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1.3.4.1.3 Rest-of-Middle East
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1.3.5 North America
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1.3.5.1 By Country
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1.3.5.1.1 Canada
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1.3.5.1.2 Mexico
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1.3.5.1.3 US
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1.3.5.1.4 Rest-of-North America
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1.3.6 South America
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1.3.6.1 By Country
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1.3.6.1.1 Argentina
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1.3.6.1.2 Brazil
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1.3.6.1.3 Rest-of-South America
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Speed Pedelec E-Bike Market Size FAQs
How big is the Global Speed Pedelec E-Bike Market?
The Global Speed Pedelec E-Bike Market size is expected to reach USD 1.45 billion in 2024 and grow at a CAGR of 9.06% to reach USD 2.24 billion by 2029.
What is the current Global Speed Pedelec E-Bike Market size?
In 2024, the Global Speed Pedelec E-Bike Market size is expected to reach USD 1.45 billion.
