Electric Bicycle Market Size

Electric Bicycle Market size was over USD 31.27 billion in 2023 and is poised to exceed USD 110.53 billion by 2036, growing at over 10.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electric bicycle is evaluated at USD 33.82 billion.

Increasing awareness towards rising pollution levels and the increasing global warming worldwide, along with the necessity to lead a fit and healthier lifestyle are some of the significant factors boosting the market growth. Additionally, these bikes act as a cheap alternative to bimotored vehicles. Driven by these prominent features along with favorable government regulations for permitting e-bikes as a means of public transport.