Electric Bike Market Size

Electric Bike Market size was over USD 50.57 billion in 2024 and is anticipated to cross USD 257.76 billion by the end of 2037, growing at more than 13.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of electric bike is estimated at USD 56.15 billion.

The growth of the market is primarily attributed to the rising trend of adopting zero emission transportation mode across the globe. For instance, worldwide sales of medium- and heavy-duty commercial vehicles are expected to exceed 3 million units per year by 2030, representing a compound annual growth rate of 2%. 1.2 million vehicles are anticipated to be sold in China, 510,000 in the United States, and nearly 400,030 in Europe.

Electric bikes are a popular, versatile, and ecofriendly mode of transportation. Customers perceive them as a viable alternative to scooters, smart cars, and public transportation. These bikes are simple to operate, suitable for people of all ages, and a low-cost option for eco-friendly transportation. Consumer’s traction for electric bike and government led various initiative and regulations are boosting up the growth of the e-bike market over the forecast period. For instance, the Indian government has established a number of EV Subsidy Programs and launched FAME (Faster Adoption and Manufacturing of Electric Vehicles), which has aided in accelerating the penetration of electric scooter and motorcycles on Indian roads.