In 2023, electric bicycles accounted for nearly five percent of the total United States' bicycle market. This was a significant increase compared to 2015, when the market share still stood at 0.06 percent. Electric bikes made up more than one percent of the market for the first time in 2020.

According to Cognitive Market Research, the global electric bikes market size is USD 49581.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 19832.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 14874.36 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 11403.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America's market has more than 5% of the global revenue, with a market size of USD 2479.06 million in 2024, and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 991.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Lithium-ion polymer held the highest electric bikes market revenue share in 2024

Market Dynamics of Electric Bikes Market

Key Drivers for Electric Bikes Market

Rising Trend toward Connected Electric Bikes to Increase the Demand Globally

One key driver in the electric bikes market is the rising trend toward connected electric bikes. Connected electric bikes are intelligent and omniscient bikes capable of communicating critical data on their condition and benefit. In some cases, related bikes can also receive information and commands remotely. Connected e-bike systems permit both data gathering and data mining. Players are coming forward to create connected solutions, like Specialized Bicycle Components Inc., which has developed mission control and ride features in its product delivery. Shimano Inc (Japan) has created an e-tube ride feature. Thus, apart from e-bikes, manufacturers concentrate on developing technologies and services to help consumers in a cutting-edge manner.

Government Support to Increase Electric Bike Sales to Propel Market Growth

Another key driver in the electric bikes market is rising environmental awareness and the demand for sustainable transportation. Government support, such as subsidies, tax incentives, and infrastructure development, plays a critical role in boosting e-bike sales. These measures not only make electric bikes more affordable but also encourage their adoption by improving accessibility and safety. By promoting e-bikes as a viable alternative to traditional vehicles, governments contribute to reducing emissions and congestion while promoting healthier lifestyles. This collaborative effort between governments and the e-bike industry fosters a more sustainable future.

Restraint Factor for the Electric Bikes Market

High Manufacturing Costs to Limit Market

The electric bike market is burgeoning, driven by eco-conscious consumers and urban mobility needs. However, high manufacturing costs pose a significant restraint. These costs stem from advanced battery technology, motor components, and specialized frame construction. Manufacturers face challenges in achieving economies of scale to offset these expenses. Consequently, retail prices remain relatively high, limiting widespread adoption. Despite rising demand, the affordability barrier obstructs market expansion and constrains manufacturers' ability to capitalize on the growing interest in electric bikes fully.

Impact of Covid-19 on the Electric Bikes Market

The electric bike market experienced a surge amidst the COVID-19 pandemic. With social distancing measures and a desire for individual transportation, people turned to electric bikes for commuting and leisure. This shift accelerated existing trends towards eco-friendly and convenient transportation options. Governments worldwide also incentivized cycling as a safer alternative to public transit, further boosting demand. Additionally, increased focus on health and fitness during lockdowns contributed to the popularity of electric bikes. Overall, the pandemic catalyzed growth in the electric bike market, aligning with evolving consumer preferences and urban mobility needs. Introduction of the Electric Bikes Market

Electric bikes, or e-bikes, are bicycles equipped with electric motors, offering pedal assistance and sometimes throttle control. They a...

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Folding Electric Bicycle Market Size 2025-2029

The folding electric bicycle market size is forecast to increase by USD 264.9 million at a CAGR of 10.3% between 2024 and 2029.

The market is experiencing significant growth due to several key trends. With increasing traffic congestion in urban areas, there is a rising demand for eco-friendly and efficient transportation solutions. Folding electric bicycles offer a convenient and practical alternative to cars and public transportation. Additionally, the emergence of lightweight and portable folding electric bicycles caters to the needs of consumers who require easy transportation and storage. Another trend influencing market growth is the easy availability of bicycles, making these products more affordable for a larger consumer base. These factors collectively contribute to the growth of the market.

What will be the Folding Electric Bicycle Market Size During the Forecast Period?

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The market is experiencing significant growth as urban commuters seek space-saving transportation options. Riders in metropolitan areas are increasingly turning to folding bikes due to their compact design and ease of use. The bicycle's main frame, rear triangle, and derailleur are engineered to fold, allowing for convenient storage in small spaces such as closets. Rechargeable batteries power these e-bikes, providing riders with a boost when needed. The collapsible frame design ensures that the bike can be easily transported on public transportation or in the trunk of a car. The lightweight design of these bikes makes them an attractive alternative to cars and motorbikes, especially for those looking for an eco-friendly transportation solution.



Battery life and motor efficiency are crucial factors in the folding bike market. Manufacturers are investing in advanced battery technology to increase battery life and improve motor efficiency. Performance and design aesthetics are also essential considerations, with many companies focusing on creating sleek and stylish designs that appeal to urban commuters. Folding bikes offer a unique blend of functionality and convenience, making them an ideal transportation solution for those living in densely populated areas. Their eco-friendly nature and ability to navigate through traffic make them an attractive alternative to cars and motorbikes. The folding bike market is poised for continued growth as more and more people seek efficient and sustainable transportation options.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Age Group

  Age 18-50
  Lesser than 18
  Age greater than 50


Distribution Channel

  Offline
  Online


Geography

  Europe

    Germany
    Italy


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Age Group Insights

The age 18-50 segment is estimated to grow significantly during the forecast period.

Folding electric bicycles have gained popularity among adults aged 18-50 due to their numerous health benefits, including improved cardiovascular fitness, joint mobility, posture, and coordination, as well as reduced stress hormones and body fat levels. These benefits make folding electric bicycles an attractive option for urban commuting in metropolitan areas, where traffic congestion and air pollution are common issues. Moreover, the collapsible design of these bicycles allows for easy storage and transportation, making them an ideal solution for limited space in urban environments. Folding electric bicycles are powered by rechargeable lithium-ion batteries, providing a performance boost for longer commutes. The simplicity of these bicycles, combined with their lightweight design and extended battery life, makes them a practical and eco-friendly alternative to traditional vehicles. The increasing use of folding electric bicycles also reduces the need for extensive road repairs caused by vehicle traffic.

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The age 18-50 segment was valued at USD 5.60 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 51% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Folding electric bicycles have gained significant traction in Europe, particularly in Germany, France, Austria, Belgium, and the Neth

The E-bike Market is segmented by Propulsion Type (Pedal Assisted, Speed Pedelec, Throttle Assisted), by Application Type (Cargo/Utility, City/Urban, Trekking), by Battery Type (Lead Acid Battery, Lithium-ion Battery, Others) and by Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Market Volume in Units and Market Value in USD is presented. Key data points observed include the number of e-bike sold by propulsion, application type for each propulsion type; and, battery type for each propulsion type.

The e-bike market is projected to generate around 44.1 billion U.S. dollars in revenue by 2029. In 2024, revenue from the global e-bike market U.S. dollars. Large markets across the globe The Asia-Pacific region is the largest e-bike market, but the European market has picked up steam. In some countries within Europe, e-bikes now make up more than half of all bicycles sold. The leader here is the Netherlands, which reached this tipping point in 2020. Germany is another important market for e-bikes, with 2.1 million units sold in 2023.

According to MarkNtel Advisors research report, the Latin America Electric Bicycle Market is projected to grow at a CAGR of around 7.2% during the forecast period 2023-28.

The Electric Bikes/E-Bikes Market approximate to surpass USD 95.51 billion, with a forecasted CAGR of 14.3% By 2034

The global e-bike market size reached USD 26.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 45.5 Billion by 2033, exhibiting a growth rate (CAGR) of 6.22% during 2025-2033. The rising environmental concerns, rapid urbanization, increasing health and fitness activities, favorable government initiatives, significant technological advancements, increasing awareness about environmental issues and changing lifestyle trends are some of the major factors propelling the market growth.

The United States e-bike market size reached USD 1,040.4 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 2,512.6 Million by 2033, exhibiting a growth rate (CAGR) of 9.78% during 2025-2033. Shifting consumer preferences from gasoline-powered cars to zero-emission vehicles, the increasing government support to promote e-bike adoption, and the rising cost of fuel incentives with lower operating costs are among the key factors driving the market growth.

The total e-bike market is projected to grow at a compound annual growth rate of almost 10 percent between 2022 and 2030, reaching close to 62.3 billion U.S. dollars in 2030. In 2021, the size of this market was approximately 26.5 billion U.S. dollars. City/urban e-bikes are expected to be the largest market segment, worth over 51.6 billion U.S. dollars in 2030.

According to Cognitive Market Research, the global Folding electric bicycle market size will be USD 166.8 million in 2024 and will expand at a compound annual growth rate (CAGR) of 9.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 66.72 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 50.04 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 38.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 8.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.9% from 2024 to 2031.
The offline channel held the highest folding electric bicycle market revenue share in 2024.

Key driver for the Folding Electric Bicycle Market

Enforcing Government Regulations to Promote the Use of Bicycles to Increase the Demand Globally

Around the world, governments are acting to reduce the congestion that comes from moving cars. Additionally, they are trending more in the direction of using renewable energy for transportation. The folding bike market has benefited from this feature worldwide. The global market for bicycles has also grown as a result of the introduction of numerous folding bike concepts by manufacturers like Brompton Bicycle Ltd., Raleigh UK Ltd., Montague Corporation, Pacific Cycles, Vilano Bikes, and Giant Bicycles.

Furthermore, Raleigh UK Ltd. is well-positioned to offer their product customer the added insurance value that comes with having access to electric bikes. An increase has also aided the development of bicycle infrastructure in government-sponsored projects, which has expanded the market for folding bikes. In order to promote and facilitate the construction of bicycle infrastructure across the country, the Indian government launched the "National Public Bicycle Scheme." Government policies and programs will be put into place throughout the forecast period, which will support the growth of the foldable bike market globally.

Customer Attitude Towards e-Bikes as an Eco-Friendly and Effective Solution to Propel Market Growth

The constant increase in the amount of carbon dioxide released into the atmosphere as a result of fuel combustion has been a major concern for governments and environmentalists from the beginning of the last few decades. The market for folding bicycles is growing as a result of the increased demand for electric cars on a global scale.

To aid in the development of the infrastructure, manufacturers have also produced folding bikes with electric motors. Some of the most well-known brands of electric-propelled folding bikes available today include Greg LeMond, Canyon, Blix Packa Electric Cargo Bike, and Tern's New GSD. Customers from all over the world have indicated a desire for these bikes.

Furthermore, the main advantage of electric folding bikes is that their electric system is built right into the frame, saving space that would otherwise be required for a separate area reserved for this purpose. Therefore, over time, the infrastructure of foldable bikes will be supported by consumers' preference for using electric bicycles as an efficient and environmentally beneficial form of transportation.

Restraints of the Folding Electric Bicycle Market

High Price of Folding Electric Bicycles to Limit the Sales

The price of an electric bicycle is one of the primary factors holding back the rapid growth of the folding bicycle business. The cost of the battery and the technology now in use make electric folding bikes more expensive than regular bicycles. The reason for this is that conventional bicycles are not foldable. Because traditional bicycles are more versatile than electric folding bikes, this has led to consumer preference for the former.

Traditional folding bicycles are also gaining popularity around the world due to their many advantages, which include being more affordable and b...

The market size of the Electric Bicycles Market is categorized based on Application (Age below 20, Age 20-40, Age above 40, Competitor Analysis, The report also provides analysis of leading market participants including:, Key companies) and Product (Brush Electric Bicycle, Brushless Electric Bicycle) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

The Electric E Bike Market size was valued at USD 37.47 USD Billion in 2023 and is projected to reach USD 62.57 USD Billion by 2032, exhibiting a CAGR of 7.6 % during the forecast period. Electric e-bikes are bicycles with a battery-powered assist, which comes via pedaling and, in some cases, a throttle. Electric bicycles help you ride farther and faster than you would on a traditional bicycle; they help you easily manage hills, travel longer distances without getting tired, keep up with the flow of traffic, and even pull a small trailer. They also provide power assistance only while you are pedaling. In EBike, there are two types of batteries: lead-acid batteries and lithium-ion batteries. The electric bikes have a wide range of benefits, including: improving fitness; helping you keep up with your friends; making it easier to get up hills; faster riding; helping to explore new places; and more. Changing consumer preferences, particularly among urban dwellers, favor compact and lightweight transportation options that offer flexibility and convenience. Electric e-bikes align with these preferences by providing a cost-effective and sustainable alternative to traditional modes of transportation, driving market growth in urban mobility segments. Key drivers for this market are: Increasing Demand for Forged Products in Power, Agriculture, Aerospace, and Defense to Drive Industry Expansion. Potential restraints include: High Purchase Cost & Absence of Standardized Regulation among Countries to Restrain Electric Bike Adoption. Notable trends are: Rising Adoption of Automation in Manufacturing to Drive Market Growth.

The Sweden E-bike Market is segmented by Propulsion Type (Pedal Assisted, Speed Pedelec, Throttle Assisted), by Application Type (Cargo/Utility, City/Urban, Trekking) and by Battery Type (Lead Acid Battery, Lithium-ion Battery, Others). Market Volume in Units and Market Value in USD is presented. Key data points observed include the number of e-bike sold by propulsion, application type for each propulsion type; and, battery type for each propulsion type.

The United States E-bike Market is segmented by Propulsion Type (Pedal Assisted, Speed Pedelec, Throttle Assisted), by Application Type (Cargo/Utility, City/Urban, Trekking) and by Battery Type (Lead Acid Battery, Lithium-ion Battery, Others). Market Volume in Units and Market Value in USD is presented. Key data points observed include the number of e-bike sold by propulsion, application type for each propulsion type; and, battery type for each propulsion type.

The European e-bike market is experiencing robust growth, driven by increasing environmental awareness, government incentives promoting sustainable transportation, and the rising popularity of cycling as a recreational activity. The market's Compound Annual Growth Rate (CAGR) of 24.50% from 2019-2024 suggests a significant expansion, and this momentum is expected to continue through 2033. Several factors contribute to this positive trajectory. Firstly, advancements in battery technology, particularly the increasing adoption of lithium-ion batteries, are enhancing e-bike performance and range, addressing previous consumer concerns. Secondly, the diversification of e-bike types, encompassing pedal-assisted, speed pedelecs, and throttle-assisted models catering to diverse needs (cargo, city, trekking), broadens market appeal. Germany, the United Kingdom, France, and the Netherlands are major contributors to the European market's success, reflecting well-established cycling infrastructure and consumer demand. However, potential restraints include the initial high purchase price of e-bikes compared to traditional bicycles and concerns regarding battery lifespan and disposal. Nevertheless, ongoing technological improvements, increased government subsidies and the growing adoption of e-bikes for commuting purposes are expected to mitigate these challenges, sustaining a strong growth trajectory. The competitive landscape is characterized by a mix of established bicycle manufacturers like Accell Group, Giant Manufacturing, and Trek Bicycle Corporation, alongside specialized e-bike companies such as VanMoof and Riese & Müller. These players are actively engaged in product innovation, strategic partnerships, and expansion efforts to solidify their market positions. The market segmentation by propulsion type (pedal-assisted, speed pedelecs, throttle-assisted) and application (cargo, city/urban, trekking) further reveals consumer preferences and opportunities for targeted product development. Looking ahead, the European e-bike market is projected to maintain its upward trajectory, driven by a combination of technological advancements, policy support, and evolving consumer preferences towards eco-friendly and healthy transportation solutions. The continued focus on improving battery technology, expanding charging infrastructure, and addressing consumer concerns regarding safety and maintenance will be key factors influencing future market growth. Comprehensive Coverage Europe E-bike Market Report (2019-2033) This comprehensive report provides an in-depth analysis of the burgeoning Europe e-bike market, offering invaluable insights for businesses, investors, and policymakers. Leveraging data from the historical period (2019-2024), base year (2025), and projected forecast period (2025-2033), this report illuminates the market's dynamics, growth drivers, and future trajectory. The study period covers 2019-2033, providing a complete picture of the market's evolution. The report segments the market across key parameters, evaluating the performance of major players and providing detailed forecasts valued in millions. Note: I cannot provide direct website links as I do not have access to real-time web data. The inclusion of website links would require a separate web search. Recent developments include: December 2022: Volt Bikes and City AM collaborate for the Launch of an ESG-Focused Project. Impact AM is a brand-new division of City AM that specializes in environmental, social, and governance issues.November 2022: The Stormguard E+, a full-suspension e-bike, is unveiled by Giant. The bicycles will be available for purchase in Europe in 2023 and will cost 7,999 Euros for the E+1 and 6,499 Euros for the E+2.August 2022: The S3 Aluminum, a streamlined, high-end e-bike from VanMoof, has been released. Raw welding and a brushed metal frame are all that remains of the S3 Aluminum.. Key drivers for this market are: Exponential Increase in Automotive Sector. Potential restraints include: Digitization of R&D Operations in Automotive Sector. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The global electric bike market is projected to increase from USD 50.57 billion in 2024 to USD 277.75 billion by 2037, witnessing a CAGR of over 14% throughout the forecast timeline, between 2025 and 2037. Key industry players include Accell Group, FOCUS & Kalkhoff Holding GmbH, Giant Manufacturing Co., Ltd., among others.

The report covers Latin America Electric Bike Market Companies and is segmented by Propulsion Type (Pedal-assisted and Throttle-assisted (Power-on-demand)), Application Type (City/Urban, Trekking (E-mountain Bikes/e-MTB), and Cargo), Battery Type (Lithium-Ion Battery, Lead-Acid Battery), and Country (Brazil, Argentina, Mexico, Chile, Colombia, and Rest of Latin America)

Electric bicycles are categorized into different types based on their pedal assist system:Pedal Assist/Pedelecs: These e-bikes provide assistance while pedaling, making riding easier and extending the rider's range.Power on Demand: These e-bikes offer a throttle-controlled electric motor, allowing riders to use the motor alone or in combination with pedaling.Pedal Assist with Power on Demand: These e-bikes combine the features of pedal assist and power on demand, providing maximum flexibility. Recent developments include: February 2024: VAAN Electric Moto Pvt Ltd introduces electric bicycles as an urban sport, available in two models with a pedal-assist range of 60 kilometers.

March 2024: Cannondale and Rui Hachimura collaborate to produce the Stealth Quick 3 City Bike, featuring advanced features and a modern design.

, January 2024: Lekker E-Cycles expands its Australian store network, offering a range of traditional and electric bicycle models. , February 2023: Porsche acquires Croatian e-bike specialist Greyp and rebrands it under Porsche eBike Performance, indicating the growing interest of automotive companies in the e-bike market.

, February 2023: Himiway releases limited-edition e-bikes designed in collaboration with users, featuring unique customization and premium features.. Key drivers for this market are: Environmental concerns: Electric bicycles reduce carbon emissions and improve air quality, making them an attractive option for environmentally conscious consumers.

Government support: Governments worldwide are implementing incentives, such as tax breaks and subsidies, to encourage the adoption of e-bikes.. Potential restraints include: High initial cost: E-bikes can be more expensive than traditional bicycles, which may limit their affordability for some consumers.. Notable trends are: Increasing Application of Connectivity Solutions for Bicycles to boost the market growth.

Europe's electric bicycle market is expected to grow significantly, with projections indicating a 22 percent increase in sales value from 2023 to 2029. The market value is expected to reach nearly 21 billion euros by 2028, reflecting the increasing popularity of e-bikes across the continent. This growth comes despite a recent dip in e-bike prices, which fell to an average of 2,350 euros in 2023 after years of steady increases. Germany leads e-bike sales in Europe Germany stands out as the largest market for electric bicycles in Europe, with 2.1 million new e-bikes sold in 2023. This figure is nearly three times higher than sales in France, the second-largest market. The Netherlands, known for its strong cycling culture, ranks third in e-bike sales despite its smaller population. In Germany, e-bikes now make up 53 percent of all new bike sales, a significant increase from 39 percent in 2020 during the pandemic bicycle boom. E-bike imports to the EU Taiwan constituted the leading supplier of e-bikes to the European Union in 2023, providing nearly 403,000 units, followed by Vietnam with around 192,000 e-bikes. Regular bicycles, meanwhile, are primarily imported from Cambodia and China. The two countries supplied around 819,000 and 527,000 bicycles to the EU in 2023, respectively. The different primary import origins of electric and non-electric bicycles can at least in part be attributed to the EU's anti-dumping duties affecting the cost of importing e-bikes to the EU.