North America E-bike Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 3.45 Billion |
|
|
Market Size (2029) | USD 7.54 Billion |
|
Largest Share by Propulsion Type | Pedal Assisted |
|
|
CAGR (2024 - 2029) | 16.91 % |
|
Largest Share by Country | US |
Major Players |
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|
||
|
*Disclaimer: Major Players sorted in no particular order |
North America E-bike Market Analysis
The North America E-bike Market size is estimated at 3.45 billion USD in 2024, and is expected to reach 7.54 billion USD by 2029, growing at a CAGR of 16.91% during the forecast period (2024-2029).
3.45 Billion
Market Size in 2024 (USD)
7.54 Billion
Market Size in 2029 (USD)
25.98 %
CAGR (2017-2023)
16.91 %
CAGR (2024-2029)
Largest Segment by Propulsion Type
79.58 %
value share, Pedal Assisted, 2023
In most of the countries in the region, with speeds lesser than 45 Kmph, are not subject to the requirement of driver’s license, registration, certificates of title, and license plates, thus boosting the demand for pedal-assisted e-bikes in recent years.
Largest Segment by Application Type
81.91 %
value share, City/Urban, 2023
The increased demand for e-bikes post-COVID-19, due to the shift away from mobility and public transit to reduce the risk of infection, has supported the demand for city/urban e-bikes.
Largest Segment by Battery Type
91.18 %
value share, Lithium-ion Battery, 2023
Prices of batteries have been falling sharply over the last 10 years, at a rate of ~20% annually. The fall is expected to continue at a rate of around 10% annually over the next five years. The decline in battery prices is expected to increase the demand further during the forecast period.
Largest Country
98.74 %
value share, US, 2023
In North America, the US e-bike market is gaining momentum as users are adopting e-bikes not only for recreational or health purposes but also for commuting from one place to other.
Leading Market Player
5.51 %
market share, Trek Bicycle Corporation, 2022
Trek is the market leader in North America due to its strong focus on R&D investments for upgrading plants, distribution networks, and products. The company offers a wide range of products and solutions related to e-bikes through a wide distribution network.
PROPULSION SEGMENT MARKET OVERVIEW
- The electric vehicle industry is steadily revolutionizing the automobile sector in North America, mostly with the yearly introduction of increasingly efficient and powerful electric vehicles. Apart from being a cleaner and greener mode of transportation for short distances, e-bikes are being used across a wide range of industries and applications in the United States. The long-term benefits of riding a pedal-assisted e-bike involve working out while traveling to and from work instead of having to set aside a specific time for exercising. Most employees spend their workdays sitting at their desks. E-bikes help in exercising while saving time.
- In order to address major issues like traffic congestion and pollution, regional governments are boosting the construction of e-bike infrastructure. Several businesses are entering the market with innovative pedal-assisted e-bikes. Many companies are working on more product innovations to cater to these issues.
- Transportation agencies and other organizations are investing in e-bike rentals and sharing passes to increase the popularity of electronic modes of travel. E-bikes are typically fitted with GPS, thereby helping operators and organizations plan systematic expansions by analyzing mobility data. Future technology-based vehicles, like speed pedelecs and pedal-assisted bikes with higher functionalities, are expected to meet the enormous demand for and the sales of e-bikes in the North American region.
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NORTH AMERICA COUNTRY LEVEL MARKET OVERVIEW
- The North American market for e-bikes is an extremely fragmented one, with the presence of both local and international players in the region. Major cities in the region face transportation challenges related to traffic congestion, injury and loss of life due to road crashes, local air quality, climate change, obesity and physical inactivity, economic burden, and the international supply rate of oil. Shifting people from cars to other modes of transportation, such as bicycles, can help address these challenges.
- The demand for e-bikes in North America is soaring as commuters are looking for suitable means of personal transportation. Purchasing an e-bike leads to increased commute, rising from 2.1 km to 9.2 km per day on average. E-bikes can be used by people of different age groups. Younger people use them for commutes and exercise, and older people mainly use them for shorter and safer commutes.
- Local governments are encouraging the use of e-bikes on public roadways to help in the process of electrification. According to the aforementioned trends, the demand for e-bikes for last-mile deliveries and public bicycle-sharing networks is likely to rise in the future.
North America E-bike Market Trends
The US leads with a robust increase in e-bike adoption, reflecting a significant shift towards eco-friendly transportation.
- The North American region is witnessing a significant demand for e-bicycles. Rising fuel prices, highly dense traffic conditions, and health concerns are some of the factors responsible for the increasing adoption of e-bikes across North American countries. The United States accounts for the highest sales of e-bikes. The country witnessed a higher adoption rate in 2018 compared to other countries like Canada and Mexico. The rising demand for e-bikes accelerated their adoption rate by 2.3% across North America in 2018.
- North America witnessed a rapid change in the demand for e-bikes in 2020. The region accounted for the highest adoption rate of e-bikes in 2020. The pandemic had a positive impact on the adoption rate of bicycles, including e-bikes. In 2020, people opted for more personal rides and developed exercising habits, which had a positive impact on the bicycle market. Owing to these factors, the region witnessed an adoption rate of 3.1% in 2020.
- The interest of consumers in e-bicycles is growing tremendously across North America. The launch of new models with updated technologies by various companies across the region is attracting consumers toward e-bikes. In March 2022, the two-wheeler manufacturer, Yamaha, introduced new e-bikes, Wabash RT Gravel Adventure Model and CrossCore RC Fitness Commuter, in the United States. Both the models are equipped with 500-watt-hour lithium-ion batteries with speed support of 28 mph, and they have class-3 pedal-assist features. Such new launches are expected to enhance the adoption of e-bikes in North America during the forecast period.
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A consistent upward trajectory in the population commuting 5-15 km, led by the US, highlights a shift towards moderate commuting distances.
- North America comprises various bicycle-oriented countries like the United States, Canada, and Mexico. The demand for bicycles in these countries has increased over the recent years. People in various countries across North America are gradually shifting to using bicycles to go to nearby places like offices, business areas, and malls. The United States has the highest number of daily commuters who travel between 5 km and 15 km.
- After the COVID-19 outbreak, which led to the closure of gyms and public transit across North America, various people found bicycles to be a safe and socially isolated mode of transportation. During the pandemic, people chose to exercise through cycling or going for weekend recreational runs to nearby locations. These factors increased the number of commuters who traveled between 5 kilometers and 15 kilometers by more than 1% in 2020. The launch of e-bikes with advanced battery packs for providing an enhanced range of up to 40-45 kilometers attracted consumers who travel a distance of 5-15 kilometers daily.
- Relaxation of the COVID-19-related restrictions opened up offices and businesses across North America. Many people now commute by bicycle to their places of employment and other areas. The popularity of bicycle-based commuting is increasing due to health benefits, carbon-free journeys, fuel savings, and time savings in packed countries like the United States and Mexico. Such factors are expected to accelerate bicycle journeys across North America during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Overall, North America's bicycle sales demonstrate resilience with gradual growth, indicating a sustained interest in cycling across the region.
- The US shows a gradual inflation rate decrease, while Canada maintains stability and Mexico experiences heightened fluctuations.
- The E-Bike battery price trend in the US significantly influences the regional average, with a steady decrease over time.
- The US shows a notable increase, leading the North American region in expanding dedicated bicycle lanes.
- North America demonstrates a consistent decrease in battery charging time, with Mexico reducing more gradually compared to the US and Canada.
- The overall trend indicates a robust and growing economy across the region, with a short-term dip in 2020.
- The US leads the bicycle rental market with consistent growth, significantly influencing the overall regional trend.
- The US dominates the Hyper-Local Delivery market, exhibiting a rapid increase in volume, significantly impacting the regional trend.
- The United States leads North America in the number of bicycle trekkers, followed by Canada and Mexico, with a consistent growth trend.
- Mexico consistently shows the highest traffic congestion rates, while Canada has the lowest and most stable congestion levels among the three countries.
North America E-bike Industry Overview
The North America E-bike Market is fragmented, with the top five companies occupying 11.80%. The major players in this market are Cannondale Bicycle Corporation, Giant Manufacturing Co., Riese & Müller, Trek Bicycle Corporation and Yamaha Bicycles (sorted alphabetically).
North America E-bike Market Leaders
Cannondale Bicycle Corporation
Giant Manufacturing Co.
Riese & Müller
Trek Bicycle Corporation
Yamaha Bicycles
Other important companies include Propella Electric Bikes, Rad Power Bikes, Ride Aventon Inc., Royal Dutch Gazelle, VanMoof.
*Disclaimer: Major Players sorted in alphabetical order.
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North America E-bike Market News
- November 2022: Cannondale announced a new global unified organizational structure that will eliminate regional GM and, the company said, leverage Pon.Bike to enhance operations and growth.
- November 2022: Cannondale enters urban e-mobility market with Compact Neo electric bicycle.
- September 2022: All electric bicycles made by Aventon have been updated with new features like better frames, integrated LED lighting, and full-color displays with Bluetooth connectivity. With the introduction of the Aventon Level.2 commuter e-bike, the Level has now been updated.
Free with this Report
We offer a comprehensive and complimentary collection of data points on regional and country-level metrics, crucial to understanding the industry's core structure. Our resources include over 120 free charts, providing rare data across various countries. This collection encompasses an analysis of e-bike outlets, distribution channels, and their geographical distribution, examination of average selling prices for different e-bike models across regions, insights into consumer preferences and purchasing patterns, a detailed segmentation of the market, comprehensive insights into market trends and environmental impacts, an overview of key market players, an examination of the regulatory landscape, and projections for the future of the e-bike market.
North America E-bike Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Bicycle Sales
- 4.2 GDP Per Capita
- 4.3 Inflation Rate
- 4.4 Adoption Rate Of E-Bikes
- 4.5 Percent Population/Commuters With 5-15 Km Daily Travel Distance
- 4.6 Bicycle Rental
- 4.7 E-Bike Battery Price
- 4.8 Price Chart Of Different Battery Chemistry
- 4.9 Hyper-Local Delivery
- 4.10 Dedicated Bicycle Lanes
- 4.11 Number Of Trekkers
- 4.12 Battery Charging Capacity
- 4.13 Traffic Congestion Index
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
-
5.1 Propulsion Type
- 5.1.1 Pedal Assisted
- 5.1.2 Speed Pedelec
- 5.1.3 Throttle Assisted
-
5.2 Application Type
- 5.2.1 Cargo/Utility
- 5.2.2 City/Urban
- 5.2.3 Trekking
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5.3 Battery Type
- 5.3.1 Lead Acid Battery
- 5.3.2 Lithium-ion Battery
- 5.3.3 Others
-
5.4 Country
- 5.4.1 Canada
- 5.4.2 Mexico
- 5.4.3 US
- 5.4.4 Rest-of-North America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
-
6.4 Company Profiles
- 6.4.1 Cannondale Bicycle Corporation
- 6.4.2 Giant Manufacturing Co.
- 6.4.3 Propella Electric Bikes
- 6.4.4 Rad Power Bikes
- 6.4.5 Ride Aventon Inc.
- 6.4.6 Riese & Müller
- 6.4.7 Royal Dutch Gazelle
- 6.4.8 Trek Bicycle Corporation
- 6.4.9 VanMoof
- 6.4.10 Yamaha Bicycles
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR E BIKES CEOS
8. APPENDIX
-
8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- NORTH AMERICA E-BIKE MARKET, BICYCLE SALES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 2:
- NORTH AMERICA E-BIKE MARKET, GDP PER CAPITA, VALUE, USD, 2017 - 2029
- Figure 3:
- NORTH AMERICA E-BIKE MARKET, INFLATION RATE, VALUE, PERCENT, 2017 - 2029
- Figure 4:
- NORTH AMERICA E-BIKE MARKET, ADOPTION RATE, VOLUME, PERCENT, 2017 - 2029
- Figure 5:
- NORTH AMERICA E-BIKE MARKET, COMMUTERS WITH 5-15 KM TRAVEL DISTANCE, VOLUME, PERCENT, 2017 - 2029
- Figure 6:
- NORTH AMERICA E-BIKE MARKET, BICYCLE RENTAL, VALUE, USD MILLION, 2017 - 2029
- Figure 7:
- NORTH AMERICA E-BIKE MARKET, E-BIKE BATTERY PRICE, VALUE, USD, 2017 - 2029
- Figure 8:
- NORTH AMERICA E-BIKE MARKET, PRICE CHART OF DIFFERENT BATTERY CHEMISTRY, VALUE, USD, 2017 - 2029
- Figure 9:
- NORTH AMERICA E-BIKE MARKET, HYPER-LOCAL DELIVERY, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 10:
- NORTH AMERICA E-BIKE MARKET, DEDICATED BICYCLE LANES, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 11:
- NORTH AMERICA E-BIKE MARKET, NUMBER OF TREKKERS, VOLUME, THOUSAND UNITS, 2017 - 2029
- Figure 12:
- NORTH AMERICA E-BIKE MARKET, BATTERY CHARGING CAPACITY, VOLUME, UNITS, 2017 - 2029
- Figure 13:
- NORTH AMERICA E-BIKE MARKET, TRAFFIC CONGESTION INDEX, VOLUME, PERCENT, 2017 - 2022
- Figure 14:
- NORTH AMERICA E-BIKE MARKET, VOLUME, UNITS, 2017 - 2029
- Figure 15:
- NORTH AMERICA E-BIKE MARKET, VALUE, USD MILLION, 2017 - 2029
- Figure 16:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 17:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 18:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 19:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 20:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 21:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 22:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 23:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 24:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 25:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 26:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 27:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE, USD, 2017 - 2029
- Figure 28:
- NORTH AMERICA E-BIKE MARKET, BY PROPULSION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 29:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 30:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 31:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 32:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 33:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 34:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 35:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 36:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 37:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 38:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 39:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 40:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE, USD, 2017 - 2029
- Figure 41:
- NORTH AMERICA E-BIKE MARKET, BY APPLICATION TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 42:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 43:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 44:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 45:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 46:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 47:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 48:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 49:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 50:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 51:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 52:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VOLUME, UNITS, 2017 - 2029
- Figure 53:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE, USD, 2017 - 2029
- Figure 54:
- NORTH AMERICA E-BIKE MARKET, BY BATTERY TYPE, VALUE SHARE (%), 2022 VS 2029
- Figure 55:
- NORTH AMERICA E-BIKE MARKET, ALL , VOLUME, UNITS, 2017 - 2029
- Figure 56:
- NORTH AMERICA E-BIKE MARKET, ALL , VALUE, USD, 2017 - 2029
- Figure 57:
- NORTH AMERICA E-BIKE MARKET, ALL , VOLUME, SHARE (%), 2017 VS 2023 VS 2029
- Figure 58:
- NORTH AMERICA E-BIKE MARKET, ALL , VALUE, SHARE (%), 2017 VS 2023 VS 2029
- Figure 59:
- NORTH AMERICA E-BIKE MARKET, CANADA , VOLUME, UNITS, 2017 - 2029
- Figure 60:
- NORTH AMERICA E-BIKE MARKET, CANADA , VALUE, USD, 2017 - 2029
- Figure 61:
- NORTH AMERICA E-BIKE MARKET, CANADA , VALUE SHARE (%), 2022 VS 2029
- Figure 62:
- NORTH AMERICA E-BIKE MARKET, MEXICO , VOLUME, UNITS, 2017 - 2029
- Figure 63:
- NORTH AMERICA E-BIKE MARKET, MEXICO , VALUE, USD, 2017 - 2029
- Figure 64:
- NORTH AMERICA E-BIKE MARKET, MEXICO , VALUE SHARE (%), 2022 VS 2029
- Figure 65:
- NORTH AMERICA E-BIKE MARKET, US , VOLUME, UNITS, 2017 - 2029
- Figure 66:
- NORTH AMERICA E-BIKE MARKET, US , VALUE, USD, 2017 - 2029
- Figure 67:
- NORTH AMERICA E-BIKE MARKET, US , VALUE SHARE (%), 2022 VS 2029
- Figure 68:
- NORTH AMERICA E-BIKE MARKET, REST-OF-NORTH AMERICA , VOLUME, UNITS, 2017 - 2029
- Figure 69:
- NORTH AMERICA E-BIKE MARKET, REST-OF-NORTH AMERICA , VALUE, USD, 2017 - 2029
- Figure 70:
- NORTH AMERICA E-BIKE MARKET, REST-OF-NORTH AMERICA , VALUE SHARE (%), 2022 VS 2029
- Figure 71:
- NORTH AMERICA E-BIKE MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
- Figure 72:
- NORTH AMERICA E-BIKE MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 73:
- NORTH AMERICA E-BIKE MARKET SHARE(%), BY MAJOR PLAYERS, 2022
North America E-bike Industry Segmentation
Pedal Assisted, Speed Pedelec, Throttle Assisted are covered as segments by Propulsion Type. 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. Canada, Mexico, US, Rest-of-North America are covered as segments by Country.
- The electric vehicle industry is steadily revolutionizing the automobile sector in North America, mostly with the yearly introduction of increasingly efficient and powerful electric vehicles. Apart from being a cleaner and greener mode of transportation for short distances, e-bikes are being used across a wide range of industries and applications in the United States. The long-term benefits of riding a pedal-assisted e-bike involve working out while traveling to and from work instead of having to set aside a specific time for exercising. Most employees spend their workdays sitting at their desks. E-bikes help in exercising while saving time.
- In order to address major issues like traffic congestion and pollution, regional governments are boosting the construction of e-bike infrastructure. Several businesses are entering the market with innovative pedal-assisted e-bikes. Many companies are working on more product innovations to cater to these issues.
- Transportation agencies and other organizations are investing in e-bike rentals and sharing passes to increase the popularity of electronic modes of travel. E-bikes are typically fitted with GPS, thereby helping operators and organizations plan systematic expansions by analyzing mobility data. Future technology-based vehicles, like speed pedelecs and pedal-assisted bikes with higher functionalities, are expected to meet the enormous demand for and the sales of e-bikes in the North American region.
| Propulsion Type | Pedal Assisted |
| Speed Pedelec | |
| Throttle Assisted | |
| Application Type | Cargo/Utility |
| City/Urban | |
| Trekking | |
| Battery Type | Lead Acid Battery |
| Lithium-ion Battery | |
| Others | |
| Country | Canada |
| Mexico | |
| US | |
| Rest-of-North America |
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Market Definition
- By Application Type - E-bikes considered under this segment include city/urban, trekking, and cargo/utility e-bikes. The common types of e-bikes under these three categories include off-road/hybrid, kids, ladies/gents, cross, MTB, folding, fat tire, and sports e-bike.
- By Battery Type - This segment includes lithium-ion batteries, lead-acid batteries, and other battery types. The other battery type category includes nickel-metal hydroxide (NiMH), silicon, and lithium-polymer batteries.
- By Propulsion Type - E-bikes considered under this segment include pedal-assisted e-bikes, throttle-assisted e-bikes, and speed pedelec. While the speed limit of pedal and throttle-assisted e-bikes is usually 25 km/h, the speed limit of speed pedelec is generally 45 km/h (28 mph).
| Keyword | Definition |
|---|---|
| Pedal Assisted | Pedal-assist or pedelec category refers to the electric bikes that provide limited power assistance through torque-assist system and do not have throttle for varying the speed. The power from the motor gets activated upon pedaling in these bikes and reduces human efforts. |
| Throttle Assisted | Throttle-based e-bikes are equipped with the throttle assistance grip, installed on the handlebar, similarly to motorbikes. The speed can be controlled by twisting the throttle directly without the need to pedal. The throttle response directly provides power to the motor installed in the bicycles and speeds up the vehicle without paddling. |
| Speed Pedelec | Speed pedelec is e-bikes similar to pedal-assist e-bikes as they do not have throttle functionality. However, these e-bikes are integrated with an electric motor which delivers power of approximately 500 W and more. The speed limit of such e-bikes is generally 45 km/h (28 mph) in most of the countries. |
| City/Urban | The city or urban e-bikes are designed with daily commuting standards and functions to be operated within the city and urban areas. The bicycles include various features and specifications such as comfortable seats, sit upright riding posture, tires for easy grip and comfortable ride, etc. |
| Trekking | Trekking and mountain bikes are special types of e-bikes that are designed for special purposes considering the robust and rough usage of the vehicles. These bicycles include a strong frame, and wide tires for better and advanced grip and are also equipped with various gear mechanisms which can be used while riding in different terrains, rough grounded, and tough mountainous roads. |
| Cargo/Utility | The e-cargo or utility e-bikes are designed to carry various types of cargo and packages for shorter distances such as within urban areas. These bikes are usually owned by local businesses and delivery partners to deliver packages and parcels at very low operational costs. |
| Lithium-ion Battery | A Li-ion battery is a rechargeable battery, which uses lithium and carbon as its constituent materials. The Li-Ion batteries have a higher density and lesser weight than sealed lead acid batteries and provide the rider with more range per charge than other types of batteries. |
| Lead Acid Battery | A lead acid battery refers to sealed lead acid battery having a very low energy-to-weight and energy-to-volume ratio. The battery can produce high surge currents, owing to its relatively high power-to-weight ratio as compared to other rechargeable batteries. |
| Other Batteries | This includes electric bikes using nickel–metal hydroxide (NiMH), silicon, and lithium-polymer batteries. |
| Business-to-Business (B2B) | The sales of e-bikes to business customers such as urban fleet and logistics company, rental/sharing operators, last-mile fleet operators, and corporate fleet operators are considered under this category. |
| Business-to-Customers (B2C) | The sales of electric scooters and motorcycles to direct consumers is considered under this category. The consumers acquire these vehicles either directly from manufacturers or from other distributers and dealers through online and offline channel. |
| Unorganized Local OEMs | These players are small local manufacturers and assemblers of e-bikes. Most of these manufacturers import the components from China and Taiwan and assemble them locally. They offer the product at low cost in this price sensitive market which give them advantage over organized manufacturers. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Dockless e-Bikes | Electric bikes that have self-locking mechanisms and a GPS tracking facility with an average top speed of around 15mph. These are mainly used by bike-sharing companies such as Bird, Lime, and Spin. |
| Electric Vehicle | A vehicle which uses one or more electric motors for propulsion. Includes cars, scooters, buses, trucks, motorcycles, and boats. This term includes all-electric vehicles and hybrid electric vehicles |
| Plug-in EV | An electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. In this report we use the term for all-electric vehicles to differentiate them from plug-in hybrid electric vehicles. |
| Lithium-Sulphur Battery | A rechargeable battery that replaces the liquid or polymer electrolyte found in current lithium-ion batteries with sulfur. They have more capacity than Li-ion batteries. |
| Micromobility | Micromobility is one of the many modes of transport involving very-light-duty vehicles to travel short distances. These means of transportation include bikes, e-scooters, e-bikes, mopeds, and scooters. Such vehicles are used on a sharing basis for covering short distances, usually five miles or less. |
| Low Speed Electric Vehicls (LSEVs) | They are low speed (usually less than 25 kmph) light vehicles that do not have an internal combustion engine, and solely use electric energy for propulsion. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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