North America E-Bike Market Size, Share, and COVID-19 Impact Analysis, By Mode (Throttle, Pedal Assist), By Motor Type (Hub Motor, Mid Drive, Others), By Battery Type (Lead Acid, Lithium Ion, Nickel-Metal Hydride (NiMH), Others), By Class (Class I, Class II, Class III), By Design (Foldable, Non-Foldable), By Application (Mountain/Trekking Bikes, City/Urban, Cargo, Others), By Country (US, Canada, Mexico, Rest of North America), and North America E-Bike Market Insights Forecasts 2023 – 2033

Industry: Automotive & Transportation

RELEASE DATE Jan 2024
REPORT ID SI3567
PAGES 200
REPORT FORMAT PathSoft

North America E-Bike Market Insights Forecasts to 2033

  • The North American e-bike Market Size was valued at USD 3.12 Billion in 2023
  • The Market Size is Growing at a CAGR of 15.73% from 2023 to 2033
  • The North America E-Bike Market Size is Expected to Reach USD 13.45 Billion by 2033

North America E-Bike Market

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The North America E-Bike Market Size is expected to reach USD 13.45 Billion by 2033, at a CAGR of 15.73% during the forecast period 2023 to 2033.  

 

Market Overview

E-bikes are bicycles equipped with an electric motor to assist the rider's pedaling efforts. The electric motor is powered by rechargeable batteries, allowing riders to travel farther with less physical effort. E-bikes are available in a variety of styles, including city bikes, mountain bikes, and foldable models, to accommodate different consumer preferences. North American consumers are increasingly looking for eco-friendly alternatives as they become more aware of environmental issues like air pollution and climate change. E-bikes, which emit no pollutants and reduce the carbon footprint, are an appealing option for environmentally conscious people. Furthermore, rapid urbanization has created congested city streets and increased traffic. E-bikes provide a convenient solution for urban commuting, allowing riders to navigate traffic more efficiently while avoiding the hassle of finding parking. Aside from that, many people are looking to incorporate physical activity into their daily routines. E-bikes offer a gentle form of exercise, encouraging people to stay active while commuting or recreationally. Furthermore, the governments of North America are incentivizing the use of electric vehicles, including e-bikes, through subsidies, tax breaks, and infrastructure development. These policies encourage the expansion of the e-bike market. Furthermore, ongoing advancements in e-bike technology have resulted in longer battery life, higher motor efficiency, and better overall performance. This has made e-bikes more appealing and dependable to a larger consumer base.

 

Report Coverage

This research report categorizes the market for the North America e-bike market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America e-bike market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America e-bike market.                 

 

North America E-Bike Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 3.12 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:15.73%
2033 Value Projection:USD 13.45 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Mode, By Motor Type, By Battery Type, By Class, By Design, By Application, By Country
Companies Covered: Cannondale Bicycle Corporation, Giant Manufacturing Co., Propella Electric Bikes, Rad Power Bikes, Ride Aventon Inc., Riese & Müller, Royal Dutch Gazelle, Trek Bicycle Corporation, VanMoof, Yamaha Bicycles, and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact,Challenges, Future, Growth, & Analysis

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Driving Factors

Environmental concerns are driving the market's growth, as consumers choose e-bikes to reduce their carbon footprint and contribute to a cleaner, healthier planet. Furthermore, rapid urbanization and congestion in cities create a demand for efficient and cost-effective mobility solutions such as e-bikes, and favorable government policies, subsidies, and incentives encourage consumers to choose e-bikes over conventional vehicles. the health and fitness benefits associated with e-bikes have become a driving force behind their market growth, attracting a diverse range of riders seeking both exercise and transportation convenience. Furthermore, increased investment, expansion of the automotive sector, and rising disposable income all have an advantageous effect on the electric bike (e-bike) market.

 

Restraining Factors

E-bike adoption remains limited on a larger scale due to high purchase costs, and insufficient charging infrastructure for e-bikes in certain regions may present obstacles for consumers, hampering market growth. One of the other barriers to the development and growth of the e-bike market is a lack of infrastructure, such as bike paths and lanes.

 

Market Segment

  • In 2023, the pedal assist segment accounted for the largest revenue share over the forecast period.

Based on mode, the North America e-bike market is segmented into throttle and pedal assist. Among these, the pedal assist segment has the largest revenue share over the forecast period. Pedal-assist e-bikes provide a seamless combination of traditional cycling and electric assistance. This feature appeals to a wide range of riders, including both experienced cyclists and newcomers to biking. Cyclists can customize the level of assistance they need, making it suitable for a variety of terrains and fitness levels. This flexibility encourages more people to use e-bikes for both daily commuting and recreational purposes. Additionally, pedal-assist technology encourages an active and healthy lifestyle. Riders must pedal to activate the electric motor, ensuring they continue to engage in physical activity while benefiting from the electric boost. This aspect is consistent with the growing emphasis on health and wellness, making pedal-assist e-bikes an appealing option for people looking to incorporate exercise into their everyday routines.

 

  • In 2023, the hub motor segment is witnessing significant growth over the forecast period.

Based on motor type the North America e-bike market is segmented into hub motor, mid-drive, and others. Among these, the hub motor segment is witnessing significant growth over the forecast period. Hub motors are built directly into wheel hubs, making them simple to install and maintain. This user-friendly design appeals to a wide range of consumers, including those who may lack extensive technical knowledge. Furthermore, hub motors require less maintenance than other motor types, lowering ownership costs and improving the overall ownership experience. Another important consideration is the quiet and inconspicuous operation of hub motors. They make very little noise, providing a smooth and unobtrusive riding experience. This affordability makes e-bikes with hub motors accessible to a broader consumer base, driving their popularity in the market.

 

  • In 2023, the lead acid segment accounted for the largest revenue share over the forecast period.

Based on battery type, the North America e-bike market is segmented into lead-acid, lithium-ion, nickel-metal hydride (NiMH), and others. Among these, the lead acid segment has the largest revenue share over the forecast period. Lead-acid batteries are well-established and have been used for many years in a variety of applications. This extensive track record has instilled trust in consumers, especially those who may be hesitant to adopt newer battery technologies. Lead-acid batteries are a popular choice among e-bike buyers due to their familiarity. Furthermore, lead-acid batteries are relatively inexpensive, making e-bikes powered by these batteries more accessible to a wider range of consumers. Cost-conscious individuals, particularly in emerging markets, are more likely to choose e-bikes with lead-acid batteries due to their low cost. Furthermore, lead-acid batteries have a longer lifespan than other battery types, making them more appealing to consumers seeking a lower total cost of ownership.

 

  • In 2023, the class I segment is witnessing significant growth over the forecast period.

Based on class, the North America e-bike market is segmented into class I, class II, and class III. Among these, the class I segment is witnessing significant growth over the forecast period. Class I e-bikes look and operate similarly to traditional bicycles. They only provide electric assistance when the rider is actively pedaling, so those who have previously ridden conventional bikes will find the riding experience familiar. This design caters to a wide range of consumers, including cycling enthusiasts, commuters, and recreational riders, who may be looking for an easier and more enjoyable cycling experience without significantly modifying their riding habits. Furthermore, Class I e-bikes are suitable for a wide range of terrains, from city streets to light off-road trails, making them adaptable to different riding conditions and preferences. Due to their versatility, they are popular among riders with a wide range of needs.

 

  • In 2023, the non-foldable segment accounted for the largest revenue share over the forecast period.

Based on design, the North America e-bike market is segmented into foldable, and non-foldable. Among these, the non-foldable segment has the largest revenue share over the forecast period. Non-foldable E-bikes provide structural stability and durability that foldable models cannot match. This durability is particularly appealing to riders who value dependability and longevity in their e-bike investment. Non-foldable e-bikes are typically designed to withstand daily use and a variety of terrains, making them ideal for both commuting and recreational use. Non-foldable e-bikes are also available in a wider range of styles and configurations, catering to a variety of consumer preferences. Non-foldable e-bikes come in a wide range of styles, including a classic city commuter, a sturdy mountain bike, and a sleek road bike. Furthermore, non-foldable e-bikes typically provide better stability and handling, making them the preferred choice for enthusiasts and riders looking for a more traditional cycling experience. These e-bikes are frequently outfitted with larger batteries and more powerful motors, resulting in increased range and overall performance.

 

  • In 2023, the city/urban segment is witnessing significant growth over the forecast period.

Based on application, the North America e-bike market is segmented into mountain/trekking bikes, city/urban, cargo, and others. Among these, the city/urban segment is witnessing significant growth over the forecast period. E-bikes are ideal for urban environments. People are looking for efficient and sustainable transportation options as cities become more congested and air quality concerns grow. City/urban e-bikes provide a convenient option for daily commuting and navigating congested streets. Their electric assistance allows riders to easily cover distances, climb hills, and navigate traffic, all while reducing travel time and minimizing environmental impact. Furthermore, city/urban E-Bikes are frequently outfitted with features tailored to urban living, such as integrated lighting systems, cargo racks, and comfortable seating. Their versatility and adaptability to urban lifestyles make them the preferred choice for a diverse range of consumers, cementing their position as the largest segment in the e-bike market's application breakdown.

 

  • In 2023, the United States (US) segment accounted for the largest revenue share over the forecast period.

Based on country, the North America e-bike market is segmented into US, Canada, Mexico, Rest of North America. Among these, the United States segment has the largest revenue share over the forecast period. As consumption expenditures rise, the region is experiencing numerous technological advancements, in addition to an ever-developing charging infrastructure. The region has been identified by a number of prominent players. Furthermore, rising demand for environmentally friendly transportation and government initiatives are expected to drive market growth. In such urban environments, E-Bikes are an excellent solution to traffic congestion and provide a cost-effective mode of transportation. E-bikes' convenience and efficiency align with urban dwellers' mobility needs, resulting in widespread adoption. Furthermore, governments in many North American countries have actively promoted e-bikes as a sustainable and environmentally friendly mode of transport.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America e-bike market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Cannondale Bicycle Corporation
  • Giant Manufacturing Co.
  • Propella Electric Bikes
  • Rad Power Bikes
  • Ride Aventon Inc.
  • Riese & Müller
  • Royal Dutch Gazelle
  • Trek Bicycle Corporation
  • VanMoof
  • Yamaha Bicycles
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In November 2022, Cannondale announced a new global unified organizational structure that will eliminate regional GMs while leveraging Pon. Bike to improve operations and growth Market Segment

 

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the North American e-bike Market based on the below-mentioned segments: 

North America E-Bike Market, By Mode

  • Throttle
  • Pedal Assist

 

North America E-Bike Market, By Motor Type 

  • Hub Motor
  • Mid Drive
  • Others

 

North America E-Bike Market, By Battery Type

  • Lead Acid
  • Lithium Ion
  • Nickel-Metal Hydride (NiMH)
  • Others

 

North America E-Bike Market, By Class

  • Class I
  • Class II
  • Class III

 

North America E-Bike Market, By Design

  • Foldable
  • Non-Foldable

 

North America E-Bike Market, By Application

  • Mountain/Trekking Bikes
  • City/Urban
  • Cargo
  • Others

 

North America E-Bike Market, By Country

  • US
  • Cananda
  • Mexico
  • Rest of North America

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