North America E-Bike Market Forecast to 2030
North America E-Bike Market Forecast to 2030 – Regional Analysis – by Battery Type (Lithium-Ion, Lithium-Ion Polymer, Lead Acid, and Nickel Metal Hydride), Motor Type (Hub Motor and Mid Motor), Class (Class-I, Class-II, and Class-III), and Mode (Pedal Assist Mode and Throttle Mode)
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Description
Growth of Outdoor Sports and Adventurous Activities Fuels the North America E-Bike Market
The outdoor sports industry has shown significant growth post-COVID-19 pandemic. Consumers are becoming health conscious and focus on healthcare activities to remain fit and healthy. They spend on outdoor activities such as trekking, cycling, etc. Cycling helps strengthen the immune system, lose weight, and build muscles. According to the US Bureau of Economy-Analysis (BEA) in 2021, the spending on outdoor recreational activities is valued at around US$ 454.0 billion which represents 1.9% of the US GDP. Outdoor recreation activity participants reached around 168 million in 2022, 55.0% of the US population. Out of these participants, 54 million were engaged in biking. Also, as per the US Bureau of Economy 2020 report, Americans have spent around US$ 6.9 billion on bicycles.
North America E-Bike Market Overview
Growing urbanization, rising investments in cycling track development, and increasing consumer awareness regarding environmentally friendly transportation drive the e-bike market growth. Governments of several countries announce ample investments and subsidies for the adoption of e-bikes.
The e-bikes market in North America is expected to report the highest CAGR during the forecast period due to rising consumer awareness regarding health-conscious activities post-COVID-19 pandemic. Post COVID-19 pandemic, the consumers were willing to spend on the outdoor activities such as bike riding, travelling and swimming for living healthy and fit life. Post pandemic, as per the Wall Street Journal, US e-bike sales reached around 1.1 million units in 2021, increased by 25.0% compared to last year. Post-COVID-19 pandemic, the e-bike penetration increased by around 81% from 0.45 million to 1.1 million units owing to growing consumer spending on outdoor and recreational activities. Trekking and mountain biking are also gaining popularity in the US and Canada. Also, the government supports opting for environment-friendly transportation. The US Democrats passed the bill with around US$ 1.75 trillion in funding as the Build Back Better Act for society safety. The bill passed by the House of Representatives offers a 30% fully refundable tax credit on the purchases of certain e-bikes. These are the crucial steps taken by the US government to fight climate change and offer a low-carbon, environment-friendly transportation solution.
Rising the Biking Riding Population in the U.S. with Increase in the Consumers Spending on the Recreational Activities Drives the Market Growth.
North America E-Bike Market Revenue and Forecast to 2030 (US$ Million)
North America E-Bike Market Segmentation
The North America e-bike market is segmented based on battery type, motor type, class, mode, and country.
Based on battery type, the North America e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held the largest North America e-bike market share in 2022.
In terms of motor type, the North America e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held a larger North America e-bike market share in 2022.
Based on class, the North America e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held the largest North America e-bike market share in 2022.
By mode, the North America e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held a larger North America e-bike market share in 2022.
Based on country, the North America e-bike market is categorized into the US, Canada, and Mexico. The US dominated the North America e-bike market in 2022.
Haibike, Aventon Bikes, Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd are some of the leading companies operating in the North America e-bike market.
Summary Info
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According to the Research Team’ research, the North America e-bike market was valued at US$ 1,632.29 million in 2022 and is expected to reach US$ 7,050.29 million by 2030, registering a CAGR of 20.1% from 2022 to 2030. Development of e-bikes using lightweight material and growth of outdoor sports and adventurous activities are among the critical factors attributed to the North America e-bike market expansion.
Key players of e-bikes operating across the world are focused on developing lightweight vehicles for short-distance traveling in urban areas. The rising development of e-bikes with advanced motor systems and in-built smart app facilities will drive the e-bikes market growth in the coming years.
In June 2023, Robert Bosch GmbH, electric bikes motor and drive systems manufacturer, launched advanced e-bike system and e-bikes. The first product launched by the company include e-bike motor, named Performance Line SX designed for manufacturing of the lightweight e-MTB, and e-gravel bikes. Also, the company further launched a e-bike Smart System Software Application for its e-bikes. This system is coupled with the drive units on e-city and e-trekking bikes. The riders benefit from all the Smart with compatible e-shift automatic transmission. Other innovations for E-bike, e-MTB, e-Gravel, and e-Urban include Compact Tube 400 battery and Power 250 range extender, Sprint riding mode (SPRNT), and Mini Remote Drop bar variant for e-Gravel.
In March 2023, Acer P.C. developed and launched an electric bike, Ebii. Acer Ebii is a lightweight e-bike designed for urban areas, and it comes with an artificial intelligence-featured application. The bike weighs only 35 pounds and has a maximum assist speed of around 32 km/h (20mph). The bike was fully charged within only 2.5 hours.
In May 2023, Heybike, a US-based e-bike manufacturer, launched a lightweight e-bike series to cater to the demand of environment-friendly commuters. It uses corrosion-proof aluminum and rust-resistant alloys.
In September 2021, Hero Cycles, an e-cycle manufacturer, expanded its lightweight e-cycle range. This new e-bike is built based on a lightweight aluminum alloy frame and a 5.8 Ah Li-ion battery with a range of up to 30 km. Also, in November 2022, Hero Cycles launched the H3 and H5 range of e-cycles. The e-cycles are built with advanced GEMTECM technology.
Thus, rising advancements and upsurging developments with in-built software applications-based lightweight e-bike is expected to boost the e-bike market during the forecast period.
On the contrary, high cost of e-bikes and requirement of huge capital investments in their manufacturing hampers the growth North America e-bike market.
Based on battery type, the North America e-bike market is segmented into lithium-ion, lithium-ion polymer, lead acid, and nickel metal hydride. The lithium-ion segment held 65.2% share of the North America e-bike market in 2022, amassing US$ 1,063.92 million. It is projected to garner US$ 4,787.15 million by 2030 to expand at 20.7% CAGR during 2022-2030.
In terms of motor type, the North America e-bike market is bifurcated into mid motor and hub motor. The mid motor segment held 74.7% share of the North America e-bike market in 2022, amassing US$ 1,219.97 million. It is projected to garner US$ 5,393.47 million by 2030 to expand at 20.4% CAGR during 2022-2030.
Based on class, the North America e-bike market is segmented into class-I, class-II, and class-III. The class-I segment held 44.6% share of the North America e-bike market in 2022, amassing US$ 728.00 million. It is projected to garner US$ 3,257.23 million by 2030 to expand at 20.6% CAGR during 2022-2030.
By mode, the North America e-bike market is bifurcated into pedal assist mode and throttle mode. The pedal assist mode segment held 69.2% share of North America e-bike market in 2022, amassing US$ 1,129.54 million. It is projected to garner US$ 5,076.21 million by 2030 to expand at 20.7% CAGR during 2022-2030.
Based on country, the North America e-bike market is categorized into the US, Canada, and Mexico. The US held 37.9% share of North America e-bike market in 2022, amassing US$ 1,448.15 million. It is projected to garner US$ 6,339.64 million by 2030 to expand at 20.3% CAGR during 2022-2030.
Key players operating in the North America e-bike market are Haibike, Aventon Bikes, Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Pedego Electric Bikes, Robert Bosch GmbH, Specialized Bicycle Components Inc, Shimano Inc, Trek Bicycle Corp, and Yamaha Motor Co Ltd, among others.
In 2023, Yamaha Bicycles launched a new e-commerce platform for selling its e-bikes online in partnership with its area network of dealers. E-bike models can be purchased online from their nearest Yamaha Bicycle dealers.
In 2023, Bosch eBike Systems launched Performance Line SX lightweight drive unit for the e-bikes to expand the smart system portfolio.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America e-bike market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the e-bike market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America E-Bike Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of E-Bike Suppliers
5. North America E-Bike Market – Key Industry Dynamics
5.1 North America E-Bike Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growth of Outdoor Sports and Adventurous Activities
5.2.2 Government Support to Lower Carbon Emissions Transportation
5.2.3 Increasing Prices of Fuel and Rising Adoption of Environment-Friendly Transportation
5.3 Market Restraints
5.3.1 High Cost of E-Bikes and Requirement of Huge Capital Investments in Their Manufacturing
5.4 Market Opportunities
5.4.1 Rising Adoption of Connected E-Bikes Among Business and Government Sectors
5.5 Future Trends
5.5.1 Development of E-Bikes Using Lightweight Material and Advanced Smart Systems
5.6 Impact of Drivers and Restraints:
6. E-Bike Market – North America Market Analysis
6.1 North America E-Bike Market Revenue (US$ Million), 2022 – 2030
6.2 North America E-Bike Market Forecast and Analysis
7. North America E-Bike Market Analysis – Battery Type
7.1 Lithium-Ion
7.1.1 Overview
7.1.2 Lithium-Ion: North America E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Lithium-Ion Polymer
7.2.1 Overview
7.2.2 Lithium-Ion Polymer: North America E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Lead Acid
7.3.1 Overview
7.3.2 Lead Acid: North America E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Nickel Metal Hydride
7.4.1 Overview
7.4.2 Nickel Metal Hydride: North America E-Bike Market, Revenue and Forecast to 2030 (US$ Million)
8. North America E-Bike Market Analysis – Motor Type
8.1 Mid Motor
8.1.1 Overview
8.1.2 Mid Motor: North America E-Bike Market, Revenue, and Forecast to 2030 (US$ Million)
8.2 Hub Motor
8.2.1 Overview
8.2.2 Hub Motor: North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9. North America E-Bike Market Analysis – Class
9.1 Class I
9.1.1 Overview
9.1.2 Class I: North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Class II
9.2.1 Overview
9.2.2 Class II : North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Class III
9.3.1 Overview
9.3.2 Class III : North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
10. North America E-Bike Market Analysis – Mode
10.1 Pedal Assisted Mode
10.1.1 Overview
10.1.2 Pedal Assisted Mode: North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
10.2 Throttle Mode
10.2.1 Overview
10.2.2 Throttle Mode: North America E-Bike Market Revenue, and Forecast to 2030 (US$ Million)
11. North America E-Bike Market – Country Analysis
11.1 North America
11.1.1 North America E-Bike Market Overview
11.1.2 North America E-Bike Market Revenue and Forecasts and Analysis – By Country
11.1.2.1 North America E-Bike Market Revenue and Forecasts and Analysis – By Country
11.1.2.2 US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.2.1 US E-Bike Market Breakdown by Battery Type
11.1.2.2.2 US E-Bike Market Breakdown by Motor Type
11.1.2.2.3 US E-Bike Market Breakdown by Class
11.1.2.2.4 US E-Bike Market Breakdown by Mode
11.1.2.3 Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.3.1 Canada E-Bike Market Breakdown by Battery Type
11.1.2.3.2 Canada E-Bike Market Breakdown by Motor Type
11.1.2.3.3 Canada E-Bike Market Breakdown by Class
11.1.2.3.4 Canada E-Bike Market Breakdown by Mode
11.1.2.4 Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
11.1.2.4.1 Mexico E-Bike Market Breakdown by Battery Type
11.1.2.4.2 Mexico E-Bike Market Breakdown by Motor Type
11.1.2.4.3 Mexico E-Bike Market Breakdown by Class
11.1.2.4.4 Mexico E-Bike Market Breakdown by Mode
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 Haibike
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Aventon Bikes
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Giant Manufacturing Co Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Merida Industry Co., Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Pedego Electric Bikes
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Robert Bosch GmbH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Specialized Bicycle Components, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Shimano Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Trek Bicycle Corp
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Yamaha Motor Co Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Research Team
14.2 Word Index
LIST OF TABLES
Table 1. North America E-Bike Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Table 4. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million) – Battery Type
Table 5. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million) – Motor Type
Table 6. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million) – Class
Table 7. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million) – Mode
Table 8. North America E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 9. US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Battery Type
Table 10. US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Motor Type
Table 11. US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Class
Table 12. US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Mode
Table 13. Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Battery Type
Table 14. Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Motor Type
Table 15. Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Class
Table 16. Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Mode
Table 17. Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Battery Type
Table 18. Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Motor Type
Table 19. Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Class
Table 20. Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn) – By Mode
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. North America E-Bike Market Segmentation, By Country
Figure 2. Ecosystem: North America E-Bike Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America E-Bike Market Revenue (US$ Million), 2022 – 2030
Figure 5. North America E-Bike Market Share (%) – Battery Type, 2022 and 2030
Figure 6. Lithium-Ion: North America E-Bike Market, Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Lithium-Ion Polymer: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Lead Acid: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Nickel Metal Hydride: North America E-Bike Market, Revenue and Forecasts to 2030 (US$ Million)
Figure 10. North America E-Bike Market Share (%) – Motor Type, 2022 and 2030
Figure 11. Mid Motor: North America E-Bike Market, Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Hub Motor: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. North America E-Bike Market Share (%) – Class, 2022 and 2030
Figure 14. Class I : North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Class II: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Class III: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. North America E-Bike Market Share (%) – Mode, 2022 and 2030
Figure 18. Pedal Assisted Mode: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Throttle Mode: North America E-Bike Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. North America E-Bike Market Revenue, by Key Countries, 2022 (US$ Mn)
Figure 21. North America E-Bike Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 22. US E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. Canada E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Mexico E-Bike Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – North America E-Bike Market
1. Aventon Bikes
2. Giant Manufacturing Co Ltd
3. Haibike
4. Merida Industry Co., Ltd.
5. Pedego Electric Bikes
6. Robert Bosch GmbH
7. Shimano Inc
8. Specialized Bicycle Components, Inc.
9. Trek Bicycle Corp
10. Yamaha Motor Co Ltd
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