E-bikes - market size worldwide 2017 & 2025

The electric bike market is expected to reach almost 24 billion U.S. dollars in 2025. This translates into a CAGR of between four and five percent over this period.

Shaking off the bad rep

Electric bicycles continue to enjoy a surge in popularity; what was once seen as very unfashionable is now becoming a common sight, from rural areas to modern cities. The power-assisted form of the common bicycle has supposedly been able to attract users who previously would not have wished to cycle, i.e. those who may have struggled with hills without the extra power or commuters who preferred an easy drive to work. Once hesitant users go for a ride, their perception of cycling tends to turn positive, and yet, the sudden acceptance of electric bicycles has also been attributed to the fact that professional athletes are heaping praise on electric bike. Considering that e-bikes sell for more than four times the price of traditional bicycles, it is an investment that should be made use of.

Large markets across the globe

The Asia Pacific is the largest e-bike market, but the European market did grow substantially with EU sales doubling by 2016 to reach nearly 1.7 million units. Although some countries within Europe hit the craze earlier than others, such as the Netherlands, there was a distinct boom in 2016 across many European countries. In the United States, only 17 percent of citizens knew what an e-bike was in 2017, but electric bicycles are predicted to break into the U.S. market eventually, with 280,000 unites predicted to be sold in 2024.

Size of the global market for electric bicycles in 2017 and 2025

Market size in billion U.S. dollars
202523.83
201716.34
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Source

Release date

August 2018

Region

Worldwide

Survey time period

2017

Supplementary notes

The 2025 figure is a projection.

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Statistics on "Bicycle industry in the U.S."

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