E-bike Market

Market Leaders - E-Bike Market

The global E-Bike market is projected to grow from USD 49.1 billion in 2023 to USD 62.3 billion by 2028 at a CAGR of 4.9% from 2023 to 2028. The growth in the E-Bike industry is expected mainly due to driving factors for the market like increasing traffic congestion, growing interest in cycling as a fitness and recreational activity, and the inclination of consumers toward an eco-friendly solution for commuting.

The strategies majorly adopted by the key market players include new product development to broaden its customer base and continuously improve its products. The companies are introducing new technologies, such as connected e-bikes, to cope with the current digitalization and urbanization market trends and meet customer demand. A few major companies like Pon Bike and Yadea are focusing on increasing production capacity to meet the growing demand.

The e-bike market is led by established players such as Accell Group NV (Netherlands), Pon Bike (Netherlands), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Company (Japan), Merida (Taiwan), and Specialized Bikes (US).

Accell Group NV

Accell Group NV is a significant player in the e-bike market, manufacturing bicycles, bicycle parts, and accessories. It has two business segments, namely, Bikes and Parts. Accell Group focuses on growing its business by acquiring supply contracts from the government and private organizations to increase the sales quantity in bulk volumes. For instance, in 2020, the company received a supply order from the Dutch National Police for e-bikes. Accell Group NV focuses on application-wise product developments. The company focuses on innovation in the adventure and e-cargo segments. The company collaborates with startups, universities, and innovative suppliers to make bikes smarter and quickly roll out new concepts. The company is in The Netherlands, Germany, Europe, and other regions.

Giant Manufacturing Co. Ltd.

Giant Manufacturing Co. Ltd. (Giant Manufacturing) manufactures bicycles and cycling gear. The company is aggressively emphasizing the new product development strategy. For instance, in 2022, it launched several e-bikes, including Trance XE+, Voya E+ 1, and Voya E+3. Giant also taps into the IoT segment and develops IoB (Internet of Bikes). E-bike can, therefore, not only be connected to hardware, including SyncDrive motors, EnergyPak battery systems, RideControl control units, and screens but also to its exclusive RideControl App and the Service Platform where inspection services are offered, allowing consumers to enjoy a complete cycling experience from riding, social networking to after-sales services. The company is in Europe, Asia, America, Taiwan, and other regions.

Giant’s current annual revenue for the half year of 2023 is decreasing. Giant experienced a 5.4% decline in annual revenue for 2023 compared to the previous year. The decline was driven by a fall in product sales across Europe and America, with American sales experiencing a significant drop of 44%. However, the company saw a positive trend in the Chinese market with a 70% increase in sales, primarily fueled by growing interest in performance cycling. Despite the decline, e-bike sales still accounted for 35% of the Giant group’s revenues in the first half of the year, indicating a continued commitment to the e-mobility sector.

Yadea Group Holdings Ltd.

Yadea Group Holdings Ltd. is engaged in designing, researching, developing, manufacturing, and selling electric scooters, electric bicycles, and related accessories. The company plans to sell high-quality products including Camper, Trooper 01, Urban Rider, and Innovator, through retail stores, online sales, and exhibitions such as CES, Sea Otter, EUROBIKE, and EICMA. The company is expected to open a store in San Francisco, a comprehensive category flagship store in LA, and 100 Integrated brand dealer (IBD) stores in the first half of 2023. Yadea Group focuses on brand influence, product development, expanding its production capacity and distribution network domestically and internally, exploring overseas markets, and improving its research and development capability.

Specialized Bicycle Components, Inc.

Specialized Bicycle Components, Inc. is a manufacturer of bicycles and their components. It manufactures both conventional and electric bicycles. It offers mountain bikes, road bikes, transport bikes, fitness bikes, path & gravel bikes, and kids bikes. In 2001, Merida Industry Co. acquired a 49% share. The subsidiaries of Specialized Bicycle Components, Inc. include Specialized Central Europe, Inc.; Specialized Italy, Inc.; Specialized UK, Inc.; and Specialized Canada, Inc. The company has its specialized subsidiaries in the UK, Canada, Italy, the Netherlands, Japan, China, Portugal, Taiwan, Mexico, the Czech Republic, Poland, Australia, Brazil, New Zealand, Korea, South Africa, Chile, Germany, Russia, Ireland, Sweden, Argentina, and Singapore.

During COVID-19, Specialized Bicycle Components, Inc. faced issues maintaining contact with riders, retailers, and staff, affecting its sales and services. The pandemic forced many port closures and factory quarantines, creating a global supply-chain crisis. Hence, to cope with this crisis, the company shifted to the Oracle E-Business suite platform in 2021, which helped it grow even on an e-commerce platform.

Yamaha Motor Co. Ltd

Yamaha Motor Co. Ltd operates through the following segments: land mobility, marine products, robotics, financial services, and other products. The land mobility segment offers motorcycles, parts, four-wheel buggies, snowmobiles, and electrically assisted bicycles. The products are sold in more than 200 countries. In 2017, e-bikes and drive systems were included in the other segments. However, from 2018 onward, e-bikes and drive systems have been included in the land mobility segment. This segment also engaged in manufacturing all-terrain vehicles, recreational off-highway vehicles, golf cars, snowmobiles, generators, small-sized snow throwers, and multi-purpose engines.

The various e-bikes the company provides include fitness/lifestyle, all roads, and mountains. The production of e-bike-related products is carried out in Shizuoka, Japan. The company also offers e-bike systems such as drive units, display & switches, and battery packs & chargers. The market in Asia is the highest contributor to its revenue, with more than 50% share of the total revenue.

Don’t miss out on business opportunities in E-bike Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

Related Reports:

E-bike Market by Class (Class I, II, & III), Battery (Li-ion, Li-ion Polymer, Lead Acid), Motor (Mid, Hub), Mode (Throttle, Pedal Assist), Usage (Mountain/Trekking, City/Urban, Cargo), Speed, Battery Capacity, Component Region - Global Forecast to 2028

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

E-bike Market Size,  Share & Growth Report
Report Code
AT 6958
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status