Electric Mountain Bike Market

The global electric mountain bike (e-MTB) market is projected to grow from USD 16.91 billion in 2025 to USD 31.96 billion by 2032 at a CAGR of 9.5% from 2025 to 2032. The growth of electric mountain bikes is driven by the rising popularity of outdoor adventure and trail riding, combined with the ability of e-MTBs to make difficult terrains accessible to riders.

Major companies in the electric mountain bike market are focusing on strategies like launching innovative products to broaden their customer reach and continuously improve their offerings. They are incorporating advanced technologies, such as connected e-Bikes, lightweight frame designs, and battery innovations, to align with growing trends in digitalization and urban living, aiming to meet evolving consumer preferences. Key players leading the electric mountain bike market include Pon.Bike (Netherlands), Accell Group NV (Netherlands), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Co., Ltd. (Japan), Yadea Technology Group Co., Ltd. (China), Merida (Taiwan), and Specialized Bikes (US).

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Accell Group is a leading global e-bike company with a strong position in the electric mountain bike market through its high-performance brands such as Haibike, Lapierre, and Ghost. The company leverages deep engineering expertise, advanced e-drive integration, and premium frame technologies to address both recreational and performance-oriented e-MTB demand. To grow its market presence and increase sales, Accell Group has undertaken supply agreements with both public and private sector organizations. Additionally, the company emphasizes innovation by developing products for niche applications, particularly in the adventure electric mountain bike segment. Accell’s focus on innovation, brand-led growth, and dealer-centric distribution enables strong penetration across the Netherlands, Germany, wider Europe, and other international markets. By continuously expanding its electric off-road portfolio and investing in next-generation mobility solutions, Accell is well-positioned to benefit from the long-term growth of the global electric mountain bike market.

Giant Manufacturing Co., Ltd. (Giant Manufacturing) produces bicycles and cycling gear. The company continues to strengthen its strategic position in the electric mountain bike segment through a combination of capacity expansion, digital enablement, and enhancements to its performance portfolio. In March 2025, the company announced a new 17,000 m² operations facility in Kunshan, China, featuring a Bike Park experience zone and an integrated e-commerce center, supporting both product innovation and E-MTB customer engagement. Additionally, in March 2025, at Hannover Messe 2025, Giant joined forces with Siemens to showcase its cutting-edge e-MTB models, such as the Trance X Advanced E+ Elite 0, built using Siemens' digital-engineering tools (Designcenter, Teamcenter, Simcenter). This demonstrates Giant’s commitment to leveraging advanced digital manufacturing and design systems to deliver high-performance E-MTBs on a global scale.

Giant's revenue in 2024 decreased by 10% compared to 2023. This decline was mainly due to reduced product sales in Europe and North America. Conversely, the Chinese market exhibited a positive trend, with increased sales driven by a growing interest in performance cycling.

Yamaha Motor Co., Ltd. is a global technology leader in electric mountain bike drive systems, supplying high-performance mid-drive motors that power leading e-MTB brands worldwide. Through its Land Mobility division, Yamaha delivers advanced e-Bike systems, including motors, displays, and battery packs used extensively in trail, enduro, and other e-MTBs. In 2023–2024, Yamaha strengthened its e-MTB and electric mountain bike presence through the continued global deployment of the PW-X3 high-torque motor, widely adopted by premium OEM partners, and through strategic collaborations with European performance bike manufacturers. The launch of new Yamaha Booster and Booster Easy electric bikes further expanded its branded electric portfolio. With Asia contributing over 50% of total revenue, Yamaha’s scale, powertrain innovation, and OEM partnerships position as a critical growth enabler of the global electric mountain bike market.

Market Ranking

The electric mountain bike (e-MTB) market is characterized by the presence of Pon.Bike (Netherlands), Accell Group NV (Netherlands), Giant Manufacturing Co., Ltd. (Taiwan), Yamaha Motor Co., Ltd. (Japan), Yadea Technology Group Co., Ltd. (China), Merida (Taiwan), and Specialized Bikes (US). These companies have strong business networks and strategic growth, which have enabled them to enhance their market position.

Related Reports:

Electric Mountain Bike Market by Battery Capacity (<250W, >250W-<450W, >450W-<650W, >650W), Class, Speed, Drive System (Chain Drive and Belt Drive), Mode (Pedal Assist and Throttle Assist), Motor Type, Component, and Region - Global Forecast to 2032

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